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Russian State Duma Adopts Law Banning Payments With Digital Financial Assets
7.7.2022
The lower house of Russian parliament has adopted a law prohibiting the use of digital financial assets in payments. To implement the restriction, exchange operators have been obliged to reject transactions which make it possible to employ these assets as a means of payment. Russian Parliament...
British investment managers call for the blockchain-traded funds' approval
7.7.2022
The Investment Association believes the new technology will bring significant cost savings for end investors
Bank of England: Crypto Needs Enhanced Regulatory and Law Enforcement Frameworks
7.7.2022
The Bank of England says “extreme volatility” in the crypto market “underscores the need for enhanced regulatory and law enforcement frameworks.” The British central bank has warned that crypto prices could fall further. Bank of England Calls for Enhanced Crypto...
Cumberland Says Financially Burdened Crypto Firms Are ‘Hanging Over the Market Like a Cloud’
6.7.2022
Following the over-the-counter (OTC) firm’s Twitter thread on June 14, Cumberland explained on July 5 that “​​rangebound price action belies a volatile picture below the surface,” while crypto markets consolidated during the past week. Cumberland stressed...
Exodus of pro-crypto financial regulators in UK amid allegations of misconduct in PM's government
6.7.2022
In his resignation letter, Economic Secretary to the Treasury John Glen said that “vital reforms" to the country’s financial services were ready to be presented to Parliament
Regulatory Scrutiny Increasing as Crypto Becomes Financial Stability Risk – Report
6.7.2022
There has been a sharp increase in regulations targeting the crypto space, with regulatory bodies mainly in North America and Europe aiming for everything from non-fungible tokens (NFTs) to stablecoins and ordinary cryptocurrencies, found a global RegTech (regulatory technology) firm CUBE.
In...
Crypto Lender Nexo Moves Forward With Plan to Acquire Troubled Rival Vauld
6.7.2022
Leading cryptocurrency lender Nexo has offered to buy distressed competitor Vauld, which halted operations in the face of financial difficulties. The proposal comes after the Singapore-based company said it was exploring restructuring options. Nexo Secures Exclusive Agreement to Explore...
UK Financial Regulator Hires Former Police Officer to Head New Crypto Unit
5.7.2022
Matthew Long will be responsible for payments and digital money at the financial regulator
Ghana Changes Mind on IMF Bailout Days After Residents Staged Protests Against Worsening Economic Situation
5.7.2022
The Ghanaian government has reportedly changed its mind and will now seek a financial rescue package from the International Monetary Fund (IMF). The decision comes just a few days after residents took to the streets to protest the spiraling inflation and growing economic hardships. Ghana’s...
Peter Schiff’s Euro Pacific Bank Suspended by Puerto Rico’s Regulator — Schiff Insists No Evidence of Crime
5.7.2022
Peter Schiff-owned Euro Pacific Bank has been suspended by Puerto Rico’s financial regulator. Schiff claims that there’s “no evidence of crimes,” warning that “accounts are frozen and customers may lose money.” Puerto Rico’s Regulator Suspends Peter...
Singapore's financial watchdog considers further restrictions on crypto
4.7.2022
The Monetary Authority of Singapore may consider “placing limits on retail participation” for investors, as well as introduce rules on the use of leverage for crypto transactions
Crypto Lender Vauld Suspends Withdrawals, Company Is Discussing ‘Restructuring Options’ With Advisors
4.7.2022
On July 4, the crypto lending company Vauld announced it suspended withdrawals, trading, and deposits after disclosing the firm is “facing challenges.” While not naming any specific companies, the Singapore-based cryptocurrency lending platform and exchange mentioned “financial...
Peter Schiff's bank closure strengthens Bitcoin case for financial freedom
4.7.2022
Puerto Rico regulators closed down Schiff’s bank for not maintaining the net minimum capital requirements. As a result, customers lost access to their accounts following a subsequent freeze
Indian Central Bank RBI: Cryptocurrencies Are a Clear Danger — Financial Stability Risks Likely to Grow
4.7.2022
India’s central bank, the Reserve Bank of India (RBI), sees cryptocurrencies as “a clear danger.” However, the financial stability risks posed by crypto assets currently appear to be “limited.” RBI on Crypto’s Danger and Financial Stability Risks...
Mad Money’s Jim Cramer Says Crypto Immolation Shows the Fed’s Job to Tame Inflation Is Almost Complete
4.7.2022
The host of Mad Money, Jim Cramer, claims that “With the immolation of crypto, the Fed’s job is almost complete.” He stressed that “one front in the war on inflation that’s been an outstanding total victory for the Fed” is the battle against financial...
The crypto industry needs a crypto capital market structure
3.7.2022
The DeFi industry needs a sound market structure and systemic independence from current transactional systems
Tax Agency Starts Checking Crypto Traders in Romania
3.7.2022
Authorities in Romania are going after investors who failed to report revenues from crypto trading and pay tax. The offensive is part of efforts to respond to financial trends, the country’s tax body said in a statement, unveiling it was able to identify almost €50 million...
Senator Indira Kempis Proposes Bill to Make Bitcoin Legal Tender in Mexico
2.7.2022
Indira Kempis, senator of the Mexican Congress, has proposed a bill that would make bitcoin legal tender in the country. The bill bases its action on the hardships that Mexican citizens are facing went trying to access financial products and education. However, the Central Bank of Mexico has been...
Financial Companies Report First Deal With Digital Assets Under Russian Law
1.7.2022
Two companies have carried out Russia’s first transactions with digital financial assets as defined by the country’s current legislation. The deal involved the tokenization of debt issued by a third party and its subsequent acquisition. Russian Companies Conduct Issue and Placement...
How Foresight Ventures Is Approaching Investments in the Current Market Environment
1.7.2022
The Foresight Ventures founding and partnership team includes veterans of some of the top financial and technology firms dedicated to sourcing and supporting the next generation of disruptive innovations across Web3. They believe the future is multi-chain and thus the chains that find product...