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Russian Hospital Employee ‘Mined Crypto in a COVID-19 Ward’; SBI Crypto to Halt Mining in Russia
19.8.2022
A Russian medical specialist could face up to two years behind bars after authorities caught him allegedly running an illegal mining setup in a facility designed to treat coronavirus patients.
The specialist had been placed in charge of information security at a state-run hospital...
South African Banking Regulator: ‘De-risking’ Crypto Firms Potentially Creates ‘Opacity in Financial Conduct’
19.8.2022
According to the latest guidance note issued by the South African banking sector regulator, Prudential Authority, risk assessment does not mean financial institutions should avoid or eliminate risks via the wholesale termination of client relationships with entities such as crypto asset service...
Philippine Regulator Warns the Public of Engaging With Foreign Crypto Service Providers
19.8.2022
The central bank of the Philippines, the primary regulator of the country’s crypto sector, has warned investors about engaging with unregistered and foreign crypto service providers. They “may present additional challenges on enforcing legal recourse and consumer protection...
ECB Creating a Harmonized Regulatory Framework Governing Crypto Activities and Services
19.8.2022
The European Central Bank (ECB) is working to harmonize the regulatory framework governing crypto activities and services in the EU. The regulator noted that several regulatory initiatives at the European and international levels are being finalized. ECB’s Regulatory Plan for Crypto Assets...
NFTs and 'Insider Trading': How to Stay in Compliance
19.8.2022
Snežana Gebauer is Partner and Chris Walsh is Manager at global advisory firm StoneTurn.__________...
Read More: NFTs and 'Insider Trading': How to Stay in Compliance
US lawmakers appeal directly to 4 mining firms, requesting info on energy consumption
18.8.2022
Four members of the U.S. House Committee on Energy and Commerce said they were "deeply concerned" that Proof-of-Work mining could increase demand for fossil fuels
Seoul Says It Is Talking to Int’l Counterparts About Streamlined Stablecoin Regulations
18.8.2022
South Korean regulators say they will move to regulate stablecoins in the wake of the “Terra/LUNA incident.”...
Read More: Seoul Says It Is Talking to Int’l Counterparts About Streamlined Stablecoin Regulations
Canadian Exchanges' Cap on Annual Purchases Excludes Only Bitcoin, Ethereum, Litecoin and Bitcoin Cash
18.8.2022
In line with regulations, Canadian crypto exchanges are introducing measures to cap the annual buy limit for selected cryptoassets at CAD 30,000 (USD 23,250) per year - and these exclude (only) four large coins.
While the cap will not impact Canadian crypto investors’ capacity to invest in some...
KuCoin & 15 More Crypto Exchanges Face Ire of South Korean Regulator
18.8.2022
Sixteen international crypto exchanges – including KuCoin and the Mexican heavyweight MEXC – have landed in hot water with South Korean financial regulators for failing to comply with local guidelines and allegedly courting domestic clients without operating permits....
Read More: KuCoin & 15 More...
British Fintech Revolut Granted Crypto License in Cyprus
18.8.2022
U.K.-based digital bank Revolut has been authorized by Cyprus to provide cryptocurrency services to millions of customers on the Old Continent. The fintech firm says the regulatory approval will allow it to establish a European crypto hub in the island nation. Revolut to Expand Crypto Services...
European Central Bank addresses guidance on licensing of digital assets
17.8.2022
Specifically, the ECB will consider crypto firms’ business models, internal governance, and “fit and proper” assessments which apply to licensing other companies
Russian Bitcoin Miners ‘Used 1.25GW’ to Power Their Rigs Last Year, Double the 2020 Total – Report
17.8.2022
Russian bitcoin (BTC) miners reportedly used a whopping 1.25 gigawatts (GW) of electrical power to fuel their activities in 2021, almost double their total for 2020 – as the industry continues to expand in the nation.
Per Novie Izvetiya, Intelion Data Systems experts calculated that altcoin mining...
Pay Your Traffic Fines or We’ll Confiscate Your Crypto – S Korean Police Pilot Grants Officers New Powers
17.8.2022
South Korean police have been given experimental new powers that allow them to seize crypto from people who refuse to pay fines – and have already taken tokens from a citizen who failed to pay a traffic fine....
Read More: Pay Your Traffic Fines or We’ll Confiscate Your Crypto – S Korean Police...
Legal Woes: Coinbase Faces New Class Action, IRS Allowed to Investigate SFOX' Customers, Another Objection in SEC-Ripple War
17.8.2022
Major crypto exchange Coinbase faces a new class action suit alleging the company unauthorizedly transfers and freezes funds and locks consumers out of their accounts for extended periods. Meanwhile, the US Internal Revenue Service (IRS) has been granted permission to look into the customers...
Colombia Plans to Launch Digital Currency to Reduce Tax Evasion
17.8.2022
The government of Colombia revealed it has plans to launch a digital currency. One of the purposes of this new currency would be to curb tax evasion and enhance the traceability of transactions made by citizens. The proposed measure would also be accompanied by restrictions on cash payments...
2017 ICOs aren't over yet: SEC files suit against Dragonchain and its founder
16.8.2022
The commission said it would be seeking “permanent injunctions, disgorgement with prejudgment interest, civil penalties against and conduct-based injunctions."
Uzbekistan Blocks Access to Overseas Crypto Exchanges; Binance, Kraken, FTX, Huobi Reportedly Included
16.8.2022
The government in Uzbekistan has blocked internet access to unlicensed crypto exchanges based outside of the country, citing a need to protect its citizens from “fraudsters.”
According to a statement published by the government of Uzbekistan, activity on foreign crypto exchanges that provide...
Tornado Cash shows that DeFi can’t escape regulation
16.8.2022
DeFi developers seriously need to consider working with regulators on compliance issues if they want their projects to succeed
UN Agency Urges Authorities to Curb Cryptocurrency Expansion in Developing Countries
16.8.2022
A United Nations trade body has recommended a set of policy actions to “curb the expansion of cryptocurrencies in developing countries.” The intergovernmental group stressed that if cryptocurrencies become a widespread means of payment, it could jeopardize the monetary sovereignty...
Tornado Cash Latest: Community Fights Back Against Sanctions, TVL Dropped 26% Since US Treasury Decision
16.8.2022
An increasing number of crypto and privacy advocates are attempting to fight back against the United States Treasury's decision to ban the popular crypto mixing service Tornado Cash.
Most recently, the Electronic Frontier Foundation, a nonprofit organization defending civil liberties in...