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Report: Binance Asked to Provide More Information as Dubai Tightens Screws Against Crypto Entities
7.4.2023
Dubai’s Virtual Assets Regulatory Authority (VARA) has reportedly asked Binance to share more information about the crypto exchange’s ownership structure and its auditing procedures. According to reports, Dubai regulators are still keen on fostering innovation but without comprising...
British Bank Natwest Implements New Limits on Cryptocurrency Payments to Combat UK Crypto Scams
15.3.2023
On March 14, 2023, the U.K.-based bank Natwest Group announced new limits on cryptocurrency payments, citing crypto scams that cost U.K. consumers £329 million annually. The limit imposed on crypto exchanges is £1,000 daily ($1,215), with a 30-day limit of £5,000 ($6,077). Natwest’s Cautious...
Nigerian Crypto Leverage Searches Second-Highest Globally — Africa Dominates Searches for Leveraged Trading Products
5.3.2023
According to an analysis of Google searches by Leverage Trading, Nigeria is the “second-highest country in the world for searches related to crypto leverage.” Along with South Africa and Ghana, the West African nation also dominates searches for the term “trade crypto.”...
US Treasury and White House to Hold Regular Meetings on CBDCs and Payment Innovations
2.3.2023
On March 1, 2023, Nellie Liang, undersecretary for domestic finance at the U.S. Treasury, delivered a speech to the Atlantic Council in Washington concerning the subject of central bank digital currencies (CBDCs). Liang detailed during her speech that a CBDC is one of several options...
France on the verge of passing stringent crypto firm licensing laws
1.3.2023
The bill was passed with a vote of 109 in favor and 71 against and will now rely on the approval of president Emmanuel Macron to be signed into law
'Unworkable' bill to ban blockchain immutability is introduced in Illinois
20.2.2023
Florida-based lawyer Drew Hinkes described the bill as “the most unworkable state law” related to blockchain and cryptocurrency that he has ever seen
IMF Report on El Salvador’s Bitcoin Adoption: Risks Averted, but Transparency Needed
12.2.2023
According to a recent mission statement published by the International Monetary Fund (IMF), El Salvador has adopted bitcoin as legal tender and has avoided risks so far. The IMF states that the risks have not materialized due to the limited use of bitcoin. However, the United Nations financial...
Australian Government Says It Is Working to Ensure ‘Regulation of Crypto Assets Protects Consumers’
5.2.2023
The Australian government has said it will take steps to ensure the “regulation of crypto assets protects consumers” and one of these steps will be the reforming of “the licensing and custody of crypto assets.” The Anthony Norman Albanese-led government also said it...
Australia bolsters crypto watchdogs in ''multi-stage' plan to fight scams
3.2.2023
The new measures from the Australian government come as cryptocurrency scams skyrocketed 162% to $221 million in 2022
New South African Code Says Crypto Asset Ads Must Include Capital Loss Warning
25.1.2023
Crypto asset service providers in South Africa seeking to attract investors via advertisements must “expressly and clearly state that investing in crypto assets may result in the loss of capital.” Influencers working on behalf of crypto asset service providers must “not offer...
Poland’s Consumer Protection Agency Opens Case Against Cryptocurrency Exchange
15.1.2023
The body ensuring that consumer rights are respected in Poland has initiated proceedings against a crypto exchange falsely claiming to be Polish. The trading platform also misled customers that it was operating with the regulatory approval of the financial authorities in the country. Belize-based...
Crypto consumer protection, proof of reserves bills introduced into US Congress
7.12.2022
New York Democrat Ritchie Torres introduced the short bills, which are meant to supplement more comprehensive legislation, earlier this month with little fanfare
Crypto Markets Today: CFTC Chair Proposes Pause to Overhaul Digital Commodities Consumer Protection Bill
1.12.2022
Rostin Behnam made the suggestion as regulators and the crypto industry continue processing the implosion of crypto exchange giant FTX. Crypto Markets Today is CoinDesk’s daily newsletter diving into what happened in today's crypto markets
US lawmaker questions major crypto exchanges on consumer protection amid FTX collapse
29.11.2022
Binance, Coinbase, Bitfinex, Gemini, Kraken and KuCoin were targets of one senator's probe into protections the firms had in place if a failure similar to FTX's occurred again
RegTech Africa Conference set to elevate national policy on financial inclusion, consumer protection, and cybersecurity
28.11.2022
Digital financial services hold great promise as a means to enable financial inclusion and thus help improve people’s lives. However, cybercrime has become a key concern in developing and emerging markets and threatens to hinder global advances in building a more inclusive digital society. Whilst...
US senators commit to advancing crypto bill despite FTX collapse
11.11.2022
The two U.S. Senators said the downfall of FTX clearly exemplified “the need for greater federal oversight of the digital asset industry.”
First Mover Asia: SBF Talks Consumer Protection and Crypto Titans Clash
7.11.2022
Consumer protection and regulation are key ingredients to transforming digital assets into an asset class worth trillions. The FTX exchange's Sam Bankman-Fried weighs in. Meanwhile, FTX's FTT token takes a dive after rival Binance announces plans to dump its remaining holdings
Chinese Central Bank Governor: User Privacy and Financial Security Key Principles Guiding CBDC Design Process
2.11.2022
According to Yi Gang, governor of China’s central bank, the process of designing the country’s digital currency is premised on two principles, the protection of user privacy as well as ensuring “financial security.” To achieve this, the central bank’s role will...
CFTC Prepares to Step up Oversight of Crypto Market — Says Many Digital Assets Are Commodities
19.9.2022
The Commodity Futures Trading Commission (CFTC) has shared with Congress its plans to regulate the crypto market with “full oversight capabilities” if the proposed Digital Commodities Consumer Protection Act becomes law. The regulator claims to have the right experience and expertise...
White House Releases ‘First-Ever’ Framework for Digital Asset Development — Crypto Industry Leader Says Recommendations Are Unclear
17.9.2022
The White House has now released what it called its “first-ever” comprehensive framework for the responsible development of digital assets just over six months after U.S. President Joe Biden signed an executive order on the same matter. However, one crypto industry leader has lamented...