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Basel Committee finalizes crypto exposure rules for banks
3.7.2024
The committee is unveiling the standards later in July, culminating a yearslong process
Basel Committee finalizes crypto exposure rules for banks
3.7.2024
The committee is unveiling the standards later in July, culminating a yearslong process
White House Plans to Nominate CFTC Commissioner Johnson for Treasury Position
10.5.2024
According to reports, the US Treasury Department's top position involving bank supervision would be filled by the nomination of Kristin Johnson, a commissioner at the Commodity Futures Trading Commission (CFTC), by the White House.
The post White House Plans to Nominate CFTC Commissioner Johnson...
Thailand’s State Authorities Seek Regulations on Crypto P2P Activities
11.4.2024
Thai minister Prasert urged the SEC to develop and adjust existing crypto regulations to include supervision of purchase and sale of P2P crypto.
The post Thailand’s State Authorities Seek Regulations on Crypto P2P Activities appeared first on Cryptonews
France’s AMF Issues Warning Against BITGET for Unauthorized Digital Asset Services
2.4.2024
AMF issued a circular on the supervision and issuance of virtual assets in the country, with BITGET on the list of those that offer crypto investments through unauthorized entities.
The post France’s AMF Issues Warning Against BITGET for Unauthorized Digital Asset Services appeared first...
Chinese Government Launches New Blockchain Infrastructure Platform Led by Conflux
1.4.2024
The project aims to develop an advanced blockchain primary platform capable of supporting multi-country deployment and facilitating collaborative supervision across multiple subjects.
The post Chinese Government Launches New Blockchain Infrastructure Platform Led by Conflux appeared first...
Estonia Approves Bill to Regulate Crypto Service Providers
22.3.2024
Estonian government has passed a legislation that shifts crypto oversight to the Financial Supervision Authority (FSA) starting 2026.
The post Estonia Approves Bill to Regulate Crypto Service Providers appeared first on Cryptonews
Bank for International Settlements Releases Executive Summary of Global Stablecoin Recommendations
1.3.2024
The Bank of International Settlements (BIS) has released its recommendations for the regulation, supervision, and oversight of global stablecoin arrangements, according to an executive summary published on February 29.
The post Bank for International Settlements Releases Executive Summary of Global...
South Korea Imposes Stricter Punishments For Crypto Trading Offenses
7.2.2024
South Korea’s financial regulators have slated July 19 for the implementation of the Virtual Asset User Protection Act and the Virtual Asset Industry Supervision Regulations. According to local media outlets, The Financial Service Commission (FSC) disclosed on Feb 7 the date for both regulations...
South Korea suggests crypto executive vetting for better supervision
5.2.2024
The Financial Services Commission (FSC) of South Korea has proposed modifications to the crypto regulations that would provide more power to authorities investigating crypto businesses. To commence, it will be mandatory for newly hired personnel of cryptocurrency-related organizations to provide...
Fintech Provider Monei Kicks-Off EURM Stablecoin Pilot in Spain
2.2.2024
Fintech firm, Monei has launched trials of the euro-backed stablecoin EURM in Spain in collaboration with major financial institutions in the country. In a recent press release, the company announced the commencement of tests under the supervision of the Bank of Spain’s Financial Sandbox. The tests...
New York DFS “Needs to Do More” on BitLicense program: State Comptroller
9.1.2024
Source: Pixabay Thomas DiNapoli, New York State Comptroller, highlighted that there is a potential deficiency in the state’s financial regulator’s supervision of virtual currency licenses. The Office released a report stressing that the Department of Financial Services (DFS) “needs to...
Hong Kong Government Seeks Public Input on Legislation for Stablecoin Supervision
27.12.2023
Source: Pexels The Financial Services and the Treasury Bureau (FSTB), and the Hong Kong Monetary Authority (HKMA) have jointly introduced a public consultation paper outlining a legislative proposal to regulate issuers of stablecoins. This move is prompted by the increasing prominence...
IOSCO Publishes Policy Recommendations for Decentralized Finance (DeFi)
20.12.2023
Source: Adobe / BeNeDak The International Organization of Securities Commissions (IOSCO), which sets standards for securities market regulation globally, has issued policy recommendations for the supervision of decentralized finance (DeFi). On December 19, IOSCO unveiled nine policy recommendations...
Basel Banking Committee Proposes Stricter Guidelines to Classify Stablecoin as Less Risky Than Unbacked Cryptocurrencies
14.12.2023
BIS building in Basel, Switzerland. Source: Adobe/doganmesut The Basel Committee for Banking Supervision (BCBS) wants to tighten rules to classify stablecoins as less risky assets than Bitcoin (BTC) and other unbacked cryptocurrencies. In a recent consultative paper, the international standard...
Hong Kong Chief Executive Expresses Willingness to Cooperate on Granting More Powers to Regulate Crypto Exchanges: Report
29.11.2023
Source: Pixabay The Chief Executive of the Hong Kong Special Administrative Region, John Lee, has responded to the recent investigation into the unlicensed virtual-asset trading platform Hounax. On November 27, Chief Executive John Lee addressed the recent virtual platform supervision fraud...
Top Global Banks Reveal $10.27 Billion in Crypto, XRP Among Top Investment
21.11.2023
Source: Adobe Major global central banks, spanning Europe, North America, and other regions, have revealed a significant investment in crypto, with XRP emerging as a preferred digital asset. According to the Basel Committee on Banking Supervision (BCBS), a global regulatory authority on banks,...
Hong Kong Regulator Planning to Widen Purview of Virtual Assets Supervision
6.11.2023
The Hong Kong Monetary Authority is reportedly planning to expand the purview of its supervision of virtual assets to include entities that issue stablecoins. The Hong Kong regulator said it also wants to create a framework that governs banks’ provision of virtual asset custody services. Hong...
Fed Reserve Official Michael Barr Calls for Stablecoin Regulation
28.10.2023
US regulators are finally discussing the subject of fiat-backed digital assets, popularly known as stablecoins. According to Federal Reserve Vice Chair for Supervision Michael Barr, it’s imperative that stablecoins also fall under the supervisory oversight of the government. Presenting...
Saudi Central Bank Calls IMF for “Good Supervision” of Crypto Activities
16.10.2023
Ayman Alsayari, Governor of the Saudi Central Bank (SAMA), has warned against the potential dangers and risks of cryptocurrencies and their brokers.
Addressing at a session on the global economy and crypto assets at the G20 Finance Ministers and Central Bank Governors (FMCBG) meeting in Morocco...