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EU eyes new money laundering regulator and stricter crypto reporting requirements
9.7.2021
The new Anti-Money Laundering Authority would comprise the “centerpiece” of a new supervisory system that would include national regulators
Crypto Exchange Binance.us Hires Former Financial Regulator
8.7.2021
Binance.us has hired Manuel Alvarez, a former financial regulator from California, to work as its chief administrative officer. The San Francisco-based crypto exchange, which sources technology from Binance, is aiming to deal with “the big question” — compliance. Binance.us...
South Africa Regulator Wants Mirror Trading International to Pay Millions as Penalty For Contravening Financial Sector Law
8.7.2021
A South African regulator, the Financial Sector Conduct Authority (FSCA), has informed key figures behind Mirror Trading International (MTI) that it intends to impose a fine of $7 million against the now-defunct crypto investment company. Contravention of Financial Sector Law According to a July...
Poland financial regulator issues public warning about Binance
8.7.2021
The cryptocurrency market is “neither regulated nor subject to supervision” to the Polish Financial Supervision Authority, the regulator said
S Korean Regulator to Banks: Stop Grumbling About Crypto Market Risk
8.7.2021
A leading South Korean regulatory chief has repeated calls for banks to stop complaining about absorbing crypto exchange-related risks and accept that any partnerships they undertake with trading platforms must be done so at their own peril.
As previously reported, banks in South Korea have stated...
Breaking news: US financial regulator FinCEN hires its first-ever chief digital currency advisor
6.7.2021
The Financial Crimes Enforcement Network is looking to broaden its enforcement measures in the cryptocurrency sector with its latest hire
Prime Minister of Vietnam Asks Central Bank to Pilot Digital Currency
5.7.2021
Pham Minh Chinh, the prime minister of Vietnam, has asked the country’s central bank to conduct a study of cryptocurrency and pilot the implementation of a blockchain-based currency within the next two years. The efforts are part of the Asian country’s new e-government strategy....
US SEC Commissioner Says Bitcoin ETF Approval Long Overdue
5.7.2021
SEC Commissioner Hester Peirce says that the regulator should have approved a bitcoin exchange-traded fund (ETF) in the U.S. a long time ago. She emphasized that it is not the SEC’s job to approve or reject applications based on the merits of the underlying investment itself. “People...
Binance’s Troubles Grow as Thailand Files Criminal Complaint — Similar Warnings by Cayman Islands, UK, Japan
4.7.2021
A growing number of regulators worldwide have come after Binance. Thailand’s Securities and Exchange Commission (SEC) filed a criminal complaint against the crypto exchange after the authorities in the Cayman Islands, the U.K., and Japan issued similar warnings on Binance and related...
Bank of Russia to Study Risks of Crypto Investing With Banks and Payment Providers
3.7.2021
The Central Bank of Russia (CBR) has set out to examine the risks associated with cryptocurrency investments. The regulator is going to conduct a dedicated study with the participation of major banks and payment processors operating in the Russian market. CBR Adds Crypto to Its Survey Program...
Australian Regulator Seeks Advice on Crypto-Related Assets
2.7.2021
The Australian Securities and Investments Commission (ASIC) recently opened a consultation for establishing methods and best practices for regulating crypto assets. The consultation paper seeks guidance on which crypto-assets should qualify as underlying assets, and how to make this determination....
Thai SEC and Cayman Islands regulator take action on Binance
2.7.2021
Thai SEC and the Cayman Islands Monetary Authority are the latest regulators to join the global scrutiny against Binance
64 Cryptocurrency Firms Have Withdrawn Applications to Operate in UK, FCA Says
30.6.2021
A growing number of crypto firms in the U.K. are withdrawing their applications to register with the Financial Conduct Authority (FCA). Around 64 firms have already withdrawn their applications and will not be able to operate in the U.K. The list of cryptocurrency companies abandoning their...
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...
Coinbase Approved to Enter German Cryptocurrency Market
29.6.2021
Cryptocurrency exchange Coinbase has obtained approval from Germany’s financial regulator, Bafin, to provide cryptocurrency trading and custody services. Coinbase Germany will launch in the coming weeks. Coinbase, a Nasdaq-listed company, announced Monday that it has secured a cryptocurrency...
Regulators in UK, Japan Issue Warnings on Binance Amid Crackdown on Unauthorized Crypto Exchanges
27.6.2021
Top financial regulators in England and Japan have independently issued warnings on Binance for offering crypto exchange services to residents of the two countries without being registered with the regulators as required by law. Japanese Regulator’s Warning Japan’s top financial...
FATF’s Annual Crypto Review Highlights ‘Continued Use of Anonymity Tactics’ and ‘Lack of Effective’ Regulation
26.6.2021
The Financial Action Task Force (FATF) has published the organization’s 12-month review and the research highlights that only 45% of the 128 reporting jurisdictions have complied with AML/CFT policy and FATF recommendations. The annual review stresses that the “lack [of]...
Africrypt Ponzi Scheme Collapse: South Africa Regulator Says Its ‘Not in a Position to Take Any Regulatory Action’
25.6.2021
Following Africrypt’s collapse, South African regulator, the Financial Sector Conduct Authority (FSCA), released a statement asserting its lack of jurisdiction over cryptocurrencies. Although the regulator says it is “continuing to investigate complaints” against the crypto...
FCA Warns 111 Crypto Firms Are Operating Illegally in UK — Says ‘This Is a Very Real Risk’
24.6.2021
U.K.’s financial regulator, the Financial Conduct Authority (FCA), has warned that 111 companies are offering crypto services in the country without proper registration. “This is a very real risk so we are worried about that,” said the regulator’s head of enforcement...
Norwegian Financial Regulator Cautions About Bitcoin Investing as Price Tumbles
24.6.2021
The Financial Supervisory Authority of Norway (Finanstilsynet) has cautioned investors about investing in cryptocurrencies as the price of bitcoin plunged Tuesday. “There is a strong need for a legal framework and investor protection if cryptocurrency is to be able to become a suitable form...