Category: Regulation

Rep. Emmer voices opposition on new stablecoin regulation bill in Congress

Rep. Emmer voices opposition on new stablecoin regulation bill in Congress

U.S. Representative Tom Emmer (R-MN) has voiced opposition to a new draft bill that would make stablecoin issuers more beholden to the federal government.  The STABLE Act, introduced by Reps. Rashida Tlaib (D-MI), Stephen Lynch (D-MA) and Jesus Garcia (D-IL), would require issuers to obtain a banking charter. This means stablecoins would become a type of […]

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New Congressional bill says it would be ‘unlawful’ to issue stablecoins, ‘provide any stablecoin-related service’ without federal approval

New Congressional bill says it would be ‘unlawful’ to issue stablecoins, ‘provide any stablecoin-related service’ without federal approval

Three House Democrats have unveiled a new piece of legislation focused on the regulation of stablecoins issuers and companies that provide stablecoin-related services.  The draft bill, if approved, “would protect consumers from the risks posed by emerging digital payment instruments, such as Facebook’s Libra and other Stablecoins currently offered in the market, by regulating their […]

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More than 150 UK crypto firms are stuck in regulatory limbo as a crucial deadline approaches

More than 150 UK crypto firms are stuck in regulatory limbo as a crucial deadline approaches

Quick Take Crypto firms won’t be able to operate in the UK after January 10 if they aren’t registered with the FCA. Thus far only three companies have made it onto the register while another 160 applications await approval. This feature story is available to subscribers of The Block Daily. You can continue reading this […]

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Mastermind of Bitcoin Mining Ponzi Scheme Extradited to the US: $20 Million in Victims’ Funds Laundered

Mastermind of Bitcoin Mining Ponzi Scheme Extradited to the US: $20 Million in Victims’ Funds Laundered

The US government says it has extradited Gutemberg Dos Santos, the co-founder of the Airbit Club Ponzi scheme from Panama and he now awaits his trial in a Manhattan court. Dos Santos is facing charges relating to his role in perpetuating a “cryptocurrency” scam which defrauded victims of “tens of millions of dollars.” Fraudulent Claims […]

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Biden announces nomination of Janet Yellen to lead Treasury Department

Biden announces nomination of Janet Yellen to lead Treasury Department

President-elect Joe Biden has confirmed the nomination of former Federal Reserve Chair Janet Yellen as the next Secretary of the U.S. Treasury Department, the Biden transition team announced Monday.  If confirmed, Yellen will be the first woman ever to lead the department. She will also take the reins of a government department that has slowly […]

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ECB Chief Christine Lagarde Downplays Bitcoin’s Risks to Financial Stability, Troubled by Stablecoins

ECB Chief Christine Lagarde Downplays Bitcoin’s Risks to Financial Stability, Troubled by Stablecoins

ECB President Christine Lagarde downplays any risks bitcoin and other cryptocurrencies could pose to financial stability and monetary sovereignty. In contrast, she sees stablecoins, such as Facebook-backed libra, as posing “serious risks.” Christine Lagarde, Bitcoin, and Facebook’s Libra The president of the European Central Bank (ECB), Christine Lagarde, shared her view on the future of […]

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Russia to Recognize Bitcoin as Property With Legal Protection

Russia to Recognize Bitcoin as Property With Legal Protection

The Russian prime minister has outlined the government’s plans to amend existing laws to recognize cryptocurrency as property. This means bitcoin owners will have the legal rights to defend and recoup their cryptocurrencies in court. Russia to Recognize Bitcoin as Property During the government meeting on Thursday, Russian Prime Minister Mikhail Mishustin talked about Russia’s […]

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No, You Can’t Buy Shares in Bitcoin

No, You Can’t Buy Shares in Bitcoin

With bitcoin going through an extended bull-run, scammers and con artists have been on hand to exploit a general fear of missing out (FOMO). Many early adopters of bitcoin became multi-millionaires by simply holding the digital asset. New Scam Tactic Consequently, many bitcoin investment scams have sprung up and millions of dollars have been lost […]

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Lithuania Rakes in 6.4 Million Euros From Selling Seized Cryptocurrencies

Lithuania Rakes in 6.4 Million Euros From Selling Seized Cryptocurrencies

Lithuania’s tax authority has sold the cryptocurrencies it previously seized for 6.4 million euros (approximately $7.6 million). The three cryptocurrencies confiscated were bitcoin, ether, and monero. This was the first time the tax authority sold seized cryptocurrencies. Lithuania Sold Seized Cryptocurrencies The State Tax Inspectorate (STI) under the Ministry of Finance of the Republic of […]

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CFTC’s New Rules Cause Coinbase to Stop Offering Crypto Margin Trading

CFTC’s New Rules Cause Coinbase to Stop Offering Crypto Margin Trading

Cryptocurrency exchange Coinbase is disabling its margin trading product in order to comply with the new rules set by the Commodity Futures Trading Commission (CFTC). CFTC’s Rules Affecting Margin Trading Offerings Coinbase’s chief legal officer, Paul Grewal, explained in a blog post on Tuesday: In response to new guidance from the Commodity Futures Trading Commission, […]

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