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US Senator Warren Sees Benefits of Cryptocurrency but Warns ‘a Run on Crypto’ May Need Federal Bailout
9.8.2021
U.S. Senator Elizabeth Warren, a longtime bitcoin skeptic, has shared her view of the benefits of cryptocurrencies. While noting that “The biggest upside to cryptocurrency could be expansion or democratization of access to the financial system,” she warned that the crypto industry...
SEC Chairman Says Satoshi Nakamoto’s Innovation Is Real, Crypto Rules Are Clear
8.8.2021
The chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, says that Satoshi Nakamoto’s innovation is real. “It has been and could continue to be a catalyst for change in the fields of finance and money,” he said. Satoshi Nakamoto’s Innovation Is Real...
Tesla CEO Elon Musk Opposes ‘Hasty’ Cryptocurrency Regulation
7.8.2021
Tesla CEO Elon Musk says there is no crisis that compels hasty cryptocurrency regulation. He agrees with Coinbase CEO Brian Armstrong that the U.S. government should not pick winners or losers in cryptocurrency innovation. Elon Musk and Coinbase CEO Agree on Crypto Regulation Tesla CEO Elon Musk...
SEC Has No Authority Over Pure Commodities Like Crypto Assets, Says CFTC Commissioner
5.8.2021
Both the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) have claimed jurisdiction over the crypto industry. A CFTC commissioner clarified that pure commodities, including crypto assets, or their trading venues are not regulated by the SEC....
SEC Chair Gensler Outlines Plans for Crypto Trading, Exchanges, Investor Protection, Bitcoin ETFs
5.8.2021
The chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, has outlined how the SEC plans to regulate the crypto industry. Focusing on investor protection, Gensler discussed concerns the SEC has about crypto trading, exchanges, lending, defi platforms, and exchange-traded...
Indian Government Clarifies Status of Cryptocurrency Trading, Regulation, Investor Protection
3.8.2021
India’s Ministry of Finance has answered some questions regarding the status of cryptocurrency trading in the country as well as crypto regulation and investor protection. The minister of state for the finance ministry has indicated that the recommendations in the draft bill proposed by...
Governments Need to Stop Dismissing Crypto as Illicit Payments and Reckless Speculation, Says El-Erian
2.8.2021
Mohamed El-Erian, an adviser to Allianz and Gramercy Funds Management, says that “The time has come for more western governments to stop dismissing the crypto revolution as some mix of illicit payments schemes and reckless financial speculation.” Western Governments Urged to Stop...
US Senator Lummis: Big Government Spenders Are Accelerating Adoption of Crypto Assets Like Bitcoin
30.7.2021
U.S. Senator Cynthia Lummis is pushing for regulation that would ensure bitcoin remains a good store of value. If the cryptocurrency “is to become what El Salvador has done, legal tender, then we need to make sure that we are using it in ways that comply with the Bank Secrecy Act...
Senator Warren Urges Treasury Secretary Yellen to Urgently Adopt Policy to Mitigate Cryptocurrencies’ Risks
28.7.2021
U.S. Senator Elizabeth Warren has asked Treasury Secretary Janet Yellen to “act with urgency” and adopt an appropriate policy to address the risks posed by cryptocurrencies. “The longer that the United States waits to adapt the proper regulatory regime for these assets, the more...
SEC Chairman Outlines Regulation of Crypto Assets Relating to Security-Based Swaps
22.7.2021
The chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, has clarified how cryptocurrencies falling under security-based swaps are regulated. He affirmed that platforms operating in the centralized or decentralized finance space are implicated by the securities laws....
France Proposes EU-Wide Cryptocurrency Regulation
15.7.2021
France has proposed giving more power to the Paris-based European Securities and Markets Authority (ESMA) and making it responsible for cryptocurrency oversight. French regulators say cryptocurrencies need EU-wide regulation. EU-Wide Crypto Regulation With ESMA as Main Supervisor France proposed...
South Korean Regulator Analyzing 578 Cryptocurrencies
14.7.2021
South Korea is deliberating on four crypto-related bills for the regulation of cryptocurrencies. “We are currently doing groundwork by searching for and analyzing data on 578 coins that have various forms,” the chairman of the country’s top financial regulator reportedly said....
US Senator Warren Presses SEC to Use ‘Full Authority’ to Regulate Cryptocurrency Trading
8.7.2021
U.S. Senator Elizabeth Warren has warned of the growing risks of cryptocurrency trading. She recently called on the U.S. Securities and Exchange Commission (SEC) to “use its full authority to address these risks,” adding that “Congress must also step up to close these regulatory...
India’s Finance Minister Says Crypto Bill Ready for Cabinet
6.7.2021
India’s finance minister has provided a status update on the country’s cryptocurrency bill that the government has been working on. “We have done a lot of work on it. We have taken stakeholders’ inputs,” she was quoted as saying. Status of Indian Crypto Bill Indian...
BIS Economist Recommends ‘Technology-Neutral’ Crypto Regulation, Low-Cost Supervision of Decentralized Markets
2.7.2021
An economist with the Bank of International Settlements has found that cryptocurrencies are not sought as an alternative to fiat currencies or regulated finance, therefore a “technology-neutral regulation to this asset class” is recommended. The economist discussed “embedded...
US Congressman Calls for Law Allowing Government to Reverse Cryptocurrency Transactions
1.7.2021
A U.S. congressman has called for a law that allows the government to identify cryptocurrency users and reverse crypto transactions. “There’s a significant sentiment, increasing sentiment, in Congress that if you’re participating in an anonymous crypto transaction that...
Slow, but not steady: India’s stance on Bitcoin and crypto is evolving
30.6.2021
India’s regulatory stance on crypto has been shaky at best and prejudiced at worst, but what is India actually doing about crypto?
Mexico’s Finance Minister: Cryptocurrencies Are Prohibited From Being Used in Financial System
30.6.2021
Mexico’s central bank, finance ministry, and banking regulator have jointly issued a warning about cryptocurrency. Finance Minister Arturo Herrera emphasized that cryptocurrencies are prohibited from being used in Mexico’s financial system. The central bank of Mexico, the finance...
Jefferies’ Equity Strategist Expects Accommodating US Crypto Regulation Unlike China’s Authoritarian Model
29.6.2021
The head of global equity strategy at Jefferies, an investment bank and asset management firm, says that cryptocurrency regulation in the U.S. would “ultimately be very positive” for bitcoin or other crypto assets. It will also be more accommodating than China’s authoritarian...
Portugal Begins Approving Cryptocurrency Exchanges — Two Licensed So Far
22.6.2021
Portugal now has two approved cryptocurrency exchanges. The country’s central bank, the Banco de Portugal, has licensed Mind the Coin and Criptoloja. In Portugal, the central bank is responsible for registering entities that intend to act as virtual asset service providers (VASPs). The bank...