Wyoming Republican Senator Cynthia Lummis has made a name for herself within the cryptocurrency community for her favorable stance on the matter. Now, she will reportedly introduce a comprehensive bill next year. Sen. Cynthia Lummis – a well-known Bitcoin HODLer – will reportedly introduce a cryptocurrency bill next year. It will be covering everything from...Read More
Santa Claus could be granting the wishes of Turkish cryptocurrency enthusiasts as the country embarks on a revolutionary change in its cryptocurrency policy. Turkey’s President Recep Tayyip Erdoğan said today in a press conference that he expected the nation to make a leap forward with a new economic model, and as a first step, he...Read More
As the cryptocurrency industry progresses towards a mainstream adoption stage, Dubai, one of the seven emirates in the United Arab Emirates (UAE), also continues to solidify its position as one of the top crypto-friendly jurisdictions in the world. DWTC to Become Crypto Zone In a recent update from the nation, Dubai authorities have declared that...Read More
The Chamber of Senators of Paraguay passed a bill on Thursday that would regulate and commercialize crypto trading and mining activities in the country. Paraguay’s Senate Approves Crypto Bill Sen. Fernando Silva Facetti, one of three senators sponsoring the legislation, confirmed the approval on Twitter, saying that the bill now awaits deliberations from the Chamber...Read More
Gita Gopinath – Chief Economist for the International Monetary Fund – recently said that developing economies should refrain from banning crypto. Instead, she called global regulation of the industry “the need of the hour”. The Global Challenge of Crypto Gopinath outlined the regulatory difficulties around crypto at an event by the National Council of Applied...Read More
The second-most populated country is reportedly considering postponing the implementation of cryptocurrency regulations. Before putting bitcoin and the alternative coins under its scope, the Indian authorities will first seek comments from the public, a senior government official opined. It Might Not Be This Winter At the end of November, the government of India revealed plans...Read More
Massachusetts Senator Elizabeth Warren is leading the charge against crypto once again. In a video posted on Dec. 15, she said that stablecoins pose risks to consumers and the economy because they are “propping up one of the shadiest parts of the crypto world, DeFi, where consumers are least protected from getting scammed.” It is...Read More
The Bank of Thailand (BoT) plans to suggest comprehensive legislation on the digital asset industry in January next year. The rules will aim to reduce the risks to the financial network and provide greater protection for investors. ‘Cryptocurrencies Cannot Be a Means of Payment’ During a recent interview for The Bangkok Post, Sethaput Suthiwartnarueput –...Read More
The International Monetary Fund (IMF) has recently published some recommendations on how to effectively regulate the cryptocurrency sector around the world. In a recent blog post, the IMF acknowledged that crypto assets are rapidly revolutionizing the entire global financial system. However, policymakers still struggle to monitor the risks associated with the market. Regulators Must Act...Read More
The world’s largest digital asset exchange – Binance – reportedly plans to work with Indonesia’s richest family – the Hartono brothers – to establish a cryptocurrency venture on the island. The endeavor would enable the company to enter into a developing country with a population of around 273 million, many of whom lack access to...Read More
The central bank of Thailand reportedly urged local financial institutions to stay away from cryptocurrencies citing risks coming from their enhanced volatility. It added that the broad employment of bitcoin and the altcoins could also impact the Bank of Thailand’s ability to monitor the national economy. BoT Against Crypto Trading According to a coverage by...Read More
Today, a major hearing took place on Capitol Hill titled “Digital Assets and the Future of Finance: Understanding Innovation in the United States.” It featured top crypto industry CEOs, including Jeremy Allaire, Sam Bankman-Fried, Brian Brooks, and more. Here’s what some of them told financial regulators about the ideal regulatory landscape. North Carolina Rep Patrick...Read More
The U.S. Senate’s Banking, Housing, and Urban Affairs Committee will hold a hearing on Dec. 14 to discuss stablecoins. The meeting titled “Stablecoins: How Do They Work, How Are They Used, and What Are Their Risks?” will be streamed live from the committee website. The witnesses have been confirmed as Ms. Alexis Goldstein, Director of...Read More
The White House recently released a first-of-its-kind, 38-page report detailing new efforts to fight state and financial corruption. It breaks down the effort into five strategic pillars, one of which bears mention of a new “National Cryptocurrency Enforcement Team”. Prosecuting Crypto Criminals The Biden Administration released the document through a statement from the White House’s...Read More
People in Colombia will soon have a new option to buy their favorite cryptocurrencies using their bank accounts just as easy as they buy any other product. The US-regulated cryptocurrency exchange Gemini announced that it had finally completed all the necessary steps to move to the implementation phase of a project that would allow Colombians...Read More
Congresswoman Maxine Waters, Chairwoman of the House Committee on Financial Services, announced that the hearing will take place on Dec. 8. Titled “Digital Assets and the Future of Finance: Understanding the Challenges and Benefits of Financial Innovation in the United States,” the assembly aims to demystify some of the misconceptions lawmakers have regarding the crypto...Read More
At the stage of the 2021 Global ETP Conference, Sohn Byung-doo stated that the digital asset industry is not very different from capital markets. The exec emphasized the need for investor protection and transaction stability support. The KRX Chief Wants To Study Crypto So far, Bitcoin and cryptocurrencies remain outside the domestic regulatory scope that...Read More
CoinDCX – one of the leading cryptocurrency exchanges in India – eyes an initial public offering (IPO) in the near future. The “precise timeline” will depend on the upcoming government regulations. Following The Steps of Coinbase Neeraj Khandelwal – Co-Founder of CoinDCX – revealed the news in a recent interview with Bloomberg. He asserted that...Read More
The French financial regulator Autorité des Marchés Financiers (AMF) has reportedly announced that the cryptocurrency exchange – Binance – must guarantee anti-money laundering compliance to set up a regional hub in Paris. Earlier this month, Changpeng Zhao – CEO of the trading venue – described the French capital as a “natural choice” for positioning headquarters....Read More
Mike Novogratz is not happy with U.S. President Joe Biden’s decision to pick Jerome Powell to chair the Fed for a second term. And he’s speaking not as a Bitcoiner but as an overall investor: He believes Powell could be detrimental to the markets’ growth. In an interview for CNBC this week, Novogratz hinted that...Read More
Senator Sherrod Brown appears to be keen on understanding how the process of stablecoin minting and redemption actually work. A comprehensive regulatory regime for stablecoin is the need of the hour, a failure to roll out one will prompt the watchdogs to step in. The head of the US Senate Banking Committee has called upon...Read More
The European Central Bank’s ECB Governing Council recently approved a new electronic payments framework that would see the inclusion of cryptocurrencies, stablecoins, and digital payment tokens. Crypto and Stablecoins Under New PISA Framework In a press release by the ECB on Monday (Nov. 22, 2021), the improved electronic payment instruments, schemes, and arrangements, PISA an...Read More
The United States Internal Revenue Service (IRS) released its annual report on criminal investigations, and cryptocurrencies played a starring role in the area of cybercrime. According to the IRS cybercrime unit’s report, more than $3.5 billion in cryptocurrencies were seized during 2021. This would make up to 93% of all seizures made in 2021. The...Read More
The New Jersey-based crypto lending platform BlockFi has caught the attention of the U.S. Securities and Exchange Commission SEC because of its supposed high yield interest rates on crypto lending. According to a Bloomberg coverage on Wednesday (November 17, 2021), an anonymous source revealed that the SEC was scrutinizing BlockFi. The company’s lending products are...Read More
Israel’s Authority for Combating Terror Financing and Money Laundering will reportedly impose new regulations on various digital financial products, with cryptocurrencies being some of them. The government unit raised hopes that the legislation will diminish crypto’s use in criminal activities and grant more support to the local investors. Clear Standards for Crypto A recent report...Read More
Binance believes the future of crypto needs to be user-focused. Amidst mounting regulations, the CZ-led cryptocurrency exchange has published a list of what it considers to be the basic rights for every digital asset user. Beyond the hype of Bitcoin (BTC) and Dogecoin (DOGE), Binance stated that there is more to the cryptocurrency sector. Its...Read More
Joe Biden’s controversial Infrastructure Bill is almost ready for implementation. But there are still politicians and consultants battling to clarify its contents. Sen. Cynthia Lummis (R-WY) and Sen. Ron Wyden (D-OR) today announced a legal proposal that would protect the country’s cryptocurrency industry by improving certain key concepts in the Infrastructure Bill, notably the definition...Read More
The Q3 woes have not hindered FTX.US from posting impressive figures for the same time period. As a matter of fact, the platform claims to lead all crypto asset exchanges in the United States with respect to liquidity. FTX.US’ Volume Soars More Than 500% According to the latest report, the average daily volumes of FTX.US...Read More
The National Ulema Council (MUI) has reportedly announced a ban on the use of crypto, citing Shariya law. Even as the Indonesian government has acknowledged crypto as a commodity, it still cannot be legalized under Islamic law. According to the reports, the head of religious decrees, Asrorun Niam Soleh, stated that the rejection ignites from...Read More
SEC Commissioner Caroline Crenshaw has published a “Statement on DeFi Risks, Regulations, and Opportunities” on November 9, advising decentralized finance platforms to contact them. In it, she acknowledged that crypto is now part of the vernacular, whether on news, social media, entertainment, and in investment portfolios. In an effort to clarify the regulatory status of...Read More
