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EU Securities Watchdog ESMA Warns of Unregulated Crypto, Gold Investment Offerings
28.5.2023
The European Securities and Markets Authority (ESMA) has issued a warning regarding investments in assets like cryptocurrencies. They will remain unregulated in most countries until the EU’s Markets in Crypto Assets (MiCA) law is enforced across the Union, the regulator pointed out. ESMA Highlights...
In the US, targeted crypto legislation ‘could start the ball rolling’
25.5.2023
Is the EU’s crypto regulatory framework a useful model for U.S. legislators? Can a “security” token really morph into a “utility” token?
Japan to Apply Tougher Crypto AML Regulations, ‘Travel Rule’ in June
25.5.2023
Stricter anti-money laundering (AML) measures for the crypto sector in Japan will enter into force next month, local media reported. The new rules were adopted to align the country’s legal framework for cryptocurrencies with global standards in the field. Japan to Enforce Legislation Allowing...
Bill Seeks to Oblige South Korean Lawmakers to Declare Crypto Assets
24.5.2023
A new bill requiring South Korean lawmakers to disclose their cryptocurrency holdings has been proposed in Seoul. The legislative initiative comes amid a snowballing scandal surrounding the crypto dealings of an opposition lawmaker whose case has been referred to the parliamentary ethics committee....
US Lawmakers Introduce ‘First Bipartisan Bill’ Blocking a CBDC
19.5.2023
US lawmakers from both sides of the aisle introduced a bill this week to block the Federal Reserve from issuing a central bank digital currency.
Republican Rep. French Hill of Arkansas and Democratic Rep. Jake Auchincloss of Massachusetts introduced the bill this week, dubbed the Power of...
President Biden’s Crypto Mining Tax “Isn’t Going To Happen,” Sen. Lummis Says
19.5.2023
US Sen. Cynthia Lummis is not a fan of President Biden’s proposed 30 percent tax on cryptocurrency miners.
“That isn't going to happen,” the Wyoming Republican and crypto enthusiast, said on Friday at Bitcoin 2023 Conference in Miami.
There are environmental benefits including “not venting...
Texas Lawmakers Pass Proof-of-Reserves Cryptocurrency Bill
19.5.2023
The Texas legislature passed a bill this week requiring cryptocurrency exchanges to provide a “proof of reserves,” the latest move by the lone star state.
HB-1666, co-sponsored by state Republicans Rep. Giovanni Capriglione and Sen. Tan Parker, applies to digital asset service providers that...
Chamber of Digital Commerce Pens Call to Action for US Congress To Pass Crypto Legislation
18.5.2023
The Chamber of Digital Commerce is calling on the US Congress to get it together and pass legislation for digital assets.
The advocacy group with members such as Binance, Circle, Fidelity Investments and others, say they want lawmakers to organize a “Digital Asset and Blockchain Technology...
EU Council Adopts New Rules for Europe’s Crypto Markets
18.5.2023
The Council of the European Union has given its final approval to new regulations for crypto assets and markets in the EU. The decision completes a lengthy and complex legislative process for what’s considered to be the world’s first comprehensive legal framework for digital assets like bitcoin....
Rep. Maxine Waters Ushers In Stablecoin Bill Ahead of Thursday House Hearing
17.5.2023
Rep. Maxine Waters is ushering in a draft bill to regulate stablecoins ahead of a House hearing this week.
The California Democrat’s draft bill would “provide requirements for payment stablecoin issuers, research on a digital dollar, and for other purposes,” according to a committee memo...
Tether Plans 15% of Its Net Profits Into Bitcoin in Move of Confidence
17.5.2023
Tether, the world’s largest stablecoin issuer by market capitalization, said it is planning to invest 15 percent of its net profits into bitcoin to strengthen its reserves.
Tether said it expects the move to “strengthen and diversify” its reserves of its $1 pegged stablecoin, in a statement...
Tax Authority Slated to Become Main Crypto Regulator in Russia
17.5.2023
Russia’s tax administration is going to be tasked with overseeing the crypto industry in the country, a high-ranking government official has indicated. According to the regulatory concept that’s currently under consideration, the revenue service will also serve as an entry point for market...
US Senators Reintroduce ‘Accountability for Cryptocurrency in El Salvador (ACES) Act’
16.5.2023
U.S. Senators Jim Risch and Bob Menendez have reintroduced the “Accountability for Cryptocurrency in El Salvador Act,” known as the “ACES Act,” for discussion in the Senate. The piece of legislation seeks to examine the level of adoption of bitcoin as a legal tender in...
Governor Ron DeSantis Signs Bill Prohibiting Use of Central Bank Digital Currencies in Florida
13.5.2023
On Friday Florida’s governor Ron DeSantis signed legislation that bans the use of a central bank digital currency (CBDC) in the state. Following the bill SB 7054 being signed into law, Florida’s Uniform Commercial Code (UCC) now explicitly forbids the use of a federally adopted CBDC as money....
US SEC’s Hester Peirce Says European Regulation MiCA Could Serve as a “Model” for the US
12.5.2023
Republican leader at the US Securities and Exchange Commission said Europe’s legislation to regulate cryptocurrency could be a model as the country grapples with how to write rules for the industry.
SEC Commissioner Hester Peirce, also nicknamed “Crypto Mom,” spoke at a Financial Times live event...
House Democrats Consider New Stablecoin Bill Proposal: Source
12.5.2023
House Democrats on the Financial Services Committee are considering a new version of proposed stablecoin bill weeks after Republicans on the committee introduced their own discussion draft
Former Lawmakers Join Coinbase’s New Global Advisory Council
12.5.2023
Former US lawmakers Patrick Toomey, R-Pa., Tim Ryan, D-Ohio., and Patrick Maloney, D-N.Y will join Coinbase’s newly launched Global Advisory Council to guide its leadership team.
“The creation of the Advisory Council is a significant step for Coinbase as we navigate an increasingly complex...
Texas Lawmakers Vote To Cement Digital Currencies in Lone State’s Bill of Rights
11.5.2023
Texas lawmakers voted almost unanimously to change the state’s bill of rights to include the right of its residents to own, hold and use digital currency.
The joint resolution was passed through a 139-2 vote on Wednesday....
Read More: Texas Lawmakers Vote To Cement Digital Currencies in Lone...
US House Lawmakers on Both Sides Seemingly Agree on Need for Crypto Legislation
10.5.2023
Lawmakers on both sides of the aisle seem to be reaching some sort of agreement on the need for legislation to regulate cryptocurrency.
Rep. French Hill, R-Ark., said his Democratic colleagues have told him they have supported “commonsense legislation for months.”...
Read More: US House Lawmakers...
Joint U.S. House Hearing on Crypto’s Future Opens With Discord
10.5.2023
Relevant House committees decided to meet together to figure out how to move forward with legislation, but one key Democrat pushed back on the need for special crypto rules