Category: Regulation

G7 Leaders Ask Russia to Urgently Identify Those Who Abuse Cryptocurrency in Ransomware Attacks

G7 Leaders Ask Russia to Urgently Identify Those Who Abuse Cryptocurrency in Ransomware Attacks

The G7 leaders have called on Russia to urgently “identify, disrupt, and hold to account” ransomware hackers and those abusing cryptocurrency to launder ransoms. “We reiterate our interest in stable and predictable relations with Russia, and will continue to engage where there are areas of mutual interest,” the G7 leaders said. G7 Nations Ask Russia […]

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Thai regulators ban exchanges from trading meme tokens and NFTs

Thai regulators ban exchanges from trading meme tokens and NFTs

Digital asset platforms can no longer trade meme-based tokens, non-fungible tokens (NFTs) and exchange-issued tokens in Thailand after the country’s Securities and Exchange Commission banned them on Friday, according to the Bangkok Post.  The ban applies to tokens like Dogecoin, which was created as a joke but has gained a lot of popularity in the […]

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Italian securities regulator head says crypto could negatively affect market

Italian securities regulator head says crypto could negatively affect market

The head of Italy’s securities market regulator, Commissione Nazionale per le Società e la Borsa, has said the increasing use of cryptocurrencies outside of a regulated marketplace may have negative consequences. According to a Reuters report published Monday, Consob chairman Paolo Savona called for increased regulation, saying cryptocurrencies could lead to illegal activity like money […]

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Dutch Official Predicts Crypto Market Crash, Says ‘the Netherlands Must Ban Bitcoin Now’

Dutch Official Predicts Crypto Market Crash, Says ‘the Netherlands Must Ban Bitcoin Now’

The director of the Netherlands’ Bureau for Economic Policy Analysis, a part of the country’s Ministry of Economic Affairs and Climate Policy, has predicted “The ultimate collapse of the crypto bubble.” He urges the government to ban bitcoin and other cryptocurrencies immediately. However, the country’s finance minister disagrees that banning cryptocurrency is right for the […]

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Christine Lagarde Reaffirms ECB’s Crypto Policy as Bitcoin Becomes Legal Tender in El Salvador

Christine Lagarde Reaffirms ECB’s Crypto Policy as Bitcoin Becomes Legal Tender in El Salvador

The president of the European Central Bank (ECB), Christine Lagarde, has shared her view on El Salvador making bitcoin legal tender. She confirmed that the central bank’s policy on bitcoin and other cryptocurrencies has not changed. ECB’s Lagarde Comments on El Salvador Making Bitcoin Legal Tender ECB President Christine Lagarde has shared her view last […]

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US Senator Urges Treasury Secretary to ‘Make Significant Revisions’ to FinCEN’s Crypto Proposal

US Senator Urges Treasury Secretary to ‘Make Significant Revisions’ to FinCEN’s Crypto Proposal

U.S. Senator Pat Toomey has urged Treasury Secretary Janet Yellen to “make significant revisions” to the proposed crypto regulation by the Financial Crimes Enforcement Network (FinCEN) and the planned adoption of the guidance issued by the Financial Action Task Force (FATF). Senator Asks Janet Yellen to Revise Proposed US Crypto Regulation U.S. Senator Pat Toomey […]

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South Africa Working Group Releases New Position Paper Calling for Regulation of Crypto Asset Providers

South Africa Working Group Releases New Position Paper Calling for Regulation of Crypto Asset Providers

South Africa’s Intergovernmental Fintech Working Group (IFWG) has a released new position paper that calls for the regulation of the country’s cryptocurrency ecosystem. In the document, the IFWG, which is a creation of the South Africa Reserve Bank (SARB), recommends “a staged approach to bring crypto-assets within the regulatory remit through the regulation of crypto […]

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Indian Government May Regulate Crypto as Asset Class: Report

Indian Government May Regulate Crypto as Asset Class: Report

India may be regulating crypto as an asset class under the purview of the Securities and Exchange Board of India (SEBI). In addition, a crypto bill is likely to be introduced during the Monsoon session of parliament, local media reported. Indian Government Reportedly Considers Regulating Crypto as an Asset Class The Indian government has yet […]

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SEC and CFTC Caution Investors About Funds Trading in Bitcoin Futures

SEC and CFTC Caution Investors About Funds Trading in Bitcoin Futures

The U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) have warned investors of the risks of investing in funds with exposure to bitcoin futures. The SEC published an investor alert on funds trading in bitcoin futures Thursday. The alert comes from the SEC’s Office of Investor Education and Advocacy (OIEA) […]

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Basel Committee Proposes Differentiating Regulation of Crypto Assets Based on Risks to Banks

Basel Committee Proposes Differentiating Regulation of Crypto Assets Based on Risks to Banks

The Basel Committee on Banking Supervision has proposed dividing crypto assets into two groups and regulating them based on their market, liquidity, credit, and operational risks to banks. Cryptocurrencies, such as bitcoin, will be subject to “a new conservative prudential treatment.” Crypto Regulation Proposed by Basel Committee on Banking Supervision The Basel Committee has proposed […]

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