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SEC custody rule made crypto regulation a ‘political football’ — Rep. Nickel
16.5.2024
The SEC’s proposed crypto custody rule and its “hostility” to the industry isn’t in Joe Biden’s “best interests,” Representative Wiley Nickel told Gary Gensler
Consensys Files Lawsuit Against the SEC Over Ethereum Regulation
25.4.2024
Ethereum developer firm Consensys managed by Joe Lubin has filed a lawsuit against the U.S. Securities and Exchange Commission (SEC) over its “overzealous regulation” around the Ethereum blockchain.
The post Consensys Files Lawsuit Against the SEC Over Ethereum Regulation appeared first...
Kenya Establishes Multi-Agency Group To Lead Crypto Regulation
23.4.2024
Kenya is initiating efforts toward crypto regulation, with the government forming a multi-agency team that includes the central bank.
The post Kenya Establishes Multi-Agency Group To Lead Crypto Regulation appeared first on Cryptonews
Coinbase Legal Chief Pushes For Stablecoin Regulation
9.4.2024
Paul Grewal, the legal chief at Coinbase, encouraged the US Congress to quickly pass stablecoin legislation on April 9 in order to combat the illegal usage of cryptocurrencies. Paul Grewal's plea coincides with the Senate Banking trial on combating terrorism, illicit financing, and sanctions...
Pro-Bitcoin Senator Cynthia Lummis Leads Push for Stablecoin Regulation: A Look at the Bill and Its Impact
8.3.2024
U.S. Senators Cynthia Lummis and Kirsten Gillibrand are getting ready to unveil a landmark stablecoin regulation bill. The bill has received support from stakeholders including the Treasury and the New York Department of Financial Services.
The post Pro-Bitcoin Senator Cynthia Lummis Leads Push...
Russia FATF Rating Downgraded Due to ‘Insufficient Crypto Regulation’
1.3.2024
The Financial Action Task Force (FATF) has downgraded Russia’s compliance rating due to its “insufficient regulation of virtual assets and cryptocurrencies.”
The post Russia FATF Rating Downgraded Due to ‘Insufficient Crypto Regulation’ appeared first on Cryptonews
Isle of Man Seeks Public Input in Effort To Tighten Crypto Assets Regulation
13.2.2024
The Isle of Man has rolled out a public consultation on possible crypto assets regulation to protect investors in the jurisdiction. In a Feb 13 release, financial authorities in the self-governing British Crown dependency sought models to expand its laws on crypto assets in line with global...
Crypto Needs Cohesive Regulation – A Look at Europe’s MiCA
24.1.2024
From the U.S. to South Asia, jurisdictions are creating a patchwork of crypto regulatory regimes, making international business harder. Europe, with its bloc-wide Markets in Crypto-Assets Regulation (MiCA), is different
IRS Halts Enforcement of $10K Crypto Tax Reporting Rule Pending Further Regulation
17.1.2024
Source: Adobe / dennizn The US Treasury Department and Internal Revenue Service (IRS) have announced that businesses are not required to report the receipt of digital assets in the same manner as cash until specific regulations are issued. The decision by the two federal agencies comes in response...
South Korean Bankruptcy Court Judge Calls for More Crypto Regulation
17.1.2024
Source: Valerii Evlakhov/Adobe A South Korean bankruptcy court judge has called on the government to bolster regulation in the crypto industry, claiming investors need more protection. Per Newsis, the claims were made by Judge Lee Seok-jun, of the Seoul Bankruptcy Court. Lee wrote a paper...
Central Bank of Nigeria Lifts Crypto Ban Following New SEC Regulation
23.12.2023
Source: AdobeStock / Faraz The Central Bank of Nigeria (CBN) has reversed its ban on dealing with companies involved in digital tokens. According to a report by BusinessDay, the CBN has now instructed lenders to open accounts for crypto firms, marking a reversal of the ban it imposed in 2021. ...
VARA’s New Leadership in Dubai Marks Next Phase of Crypto Regulation
21.12.2023
Source: AdobeStock / Grigory Bruev The hands-on approach by Dubai’s Virtual Asset Regulatory Authority (VARA) has enabled it to set a global precedent for regulator-industry cooperation, its executives said. All virtual asset service providers (VASPs) must obtain a license from VARA before...
Coin Center Criticizes Bank Secrecy Act, Demands Regulation
17.11.2023
Coin Center, the leading non-profit dedicated to research surrounding cryptocurrencies, calls the Bank Secrecy Act too “broad” for its own good, according to their most recent report. “Riddled with sweeping powers and expansive terms” Published earlier this month, the report (appropriately titled...
UK Appoints Bim Afolami as Economic Secretary to Oversee Crypto Regulation
15.11.2023
Source: AdobeStock / Mary Bim Afolami has been appointed as the economic secretary to the Treasury of the United Kingdom, where he will have authority over policies that impact the adoption of digital assets and central bank digital currencies within the country. According to a recent announcement...
EBA Releases Liquidity Guidelines for Stablecoin Issuers
8.11.2023
Source: European Banking Authority (EBA) The European Banking Authority (EBA) has issued guidelines regarding liquidity and capital requirements for stablecoin issuers in line with the EU’s new Markets in Crypto Assets (MiCA) regulation. A third batch of #MiCAR public consultations has...
Kenyan Blockchain Association to Issue First Draft of The Country’s Crypto Regulation
7.11.2023
Source: Pexels The Blockchain Association of Kenya (BAK) has announced that it will prepare the first draft of the country’s blockchain legislation as it seeks to join the list of nations with proper rule clarity. According to local media reports, the lobby group met with the National Assembly...
Spain Moves to Adopt MiCA Six Months Before Deadline, Cites Investor Protection: Here’s More
31.10.2023
Spain has unveiled plans to reduce the transition period before the application of the Markets in Crypto Assets (MiCA) regulation. A recent publication from the government shows a meeting with the first vice president Nadia Calvino and Verena Ross, the President of the European Securities...
UK Government Rolls Out Final Proposals for Stablecoin Regulation
30.10.2023
The United Kingdom has released proposals for a stablecoin framework alongside wider industry regulations in a bid to position the country as an investment destination and to protect users. In an Oct 30 release, His Majesty’s Treasury published a set of guidelines for regulating...
Fed Reserve Official Michael Barr Calls for Stablecoin Regulation
28.10.2023
US regulators are finally discussing the subject of fiat-backed digital assets, popularly known as stablecoins. According to Federal Reserve Vice Chair for Supervision Michael Barr, it’s imperative that stablecoins also fall under the supervisory oversight of the government. Presenting...
Web3 Revolution: ‘Low Latency Is King’ Says Fleek Network Lead Researcher
18.7.2023
According to Parsa Ghadimi, the lead researcher at the Web3 infrastructure platform Fleek Network, many developers of decentralized apps (dapps) continue to shun Web3 infrastructure because it has low latency. Ghadimi asserts that developers and users are more concerned with performance than...