Tag: Regulation

US Treasury wants to get crypto industry on board with sanctions programs

US Treasury wants to get crypto industry on board with sanctions programs

The Treasury wants to keep its sanctions toolbox effective. That apparently means working with the crypto industry. On October 18, the Treasury published a review of sanctions for 2021. While it highlights crypto as a threat, it also stresses the need for the department to engage with the crypto community. Administered by the Treasury’s Office […]

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Coinbase Publishes Proposal for Crypto Regulation Pushing 4 Core Recommendations

Coinbase Publishes Proposal for Crypto Regulation Pushing 4 Core Recommendations

Cryptocurrency exchange Coinbase has published its proposal for crypto regulation after “more than 75 meetings with stakeholders in government, industry, and academia,” CEO Brian Armstrong revealed. In its Digital Asset Policy Proposal, the company recommends “four core pillars to inform future U.S. regulation.” Coinbase’s Proposal for Crypto Regulation The Nasdaq-listed cryptocurrency exchange Coinbase published its […]

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FinCEN charts massive surge in ransomware activity reports in H1 2021

FinCEN charts massive surge in ransomware activity reports in H1 2021

The U.S. anti-money laundering watchdog has put out a new report on a surge in ransomware payment activity in 2021. But is it a surge in ransomware or in reporting related to ransomware? Published on October 15, the report on ransomware in the first half of 2021 comes from the Financial Crimes Enforcement Network (FinCEN). […]

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New SEC Filings Give the Impression US Regulators Approved a Bitcoin Futures ETF

New SEC Filings Give the Impression US Regulators Approved a Bitcoin Futures ETF

The price of bitcoin jumped over 8% during the last 24 hours after a number of documents stemming from the U.S. Securities and Exchange Commission’s (SEC) web portal indicated that the Proshares Trust exchange-traded fund (ETF) could be listed as soon as next week. Proshares filed a post-effective amended prospectus on Friday that shows the […]

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South African Regulator ‘Welcomes’ Binance’s Decision to Terminate Certain Services in the Country

South African Regulator ‘Welcomes’ Binance’s Decision to Terminate Certain Services in the Country

A South African regulator, the Financial Sector Conduct Authority (FSCA), says it welcomes Binance’s decision to stop offering some of its services to South Africans. Productive Consultations In a statement, the FSCA suggested that the move by the cryptocurrency exchange came after it held “productive consultations” with the regulator. As previously reported by Bitcoin.com News, […]

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Estonia Considers Revoking Crypto Licenses as Government Mulls Tougher Regulations

Estonia Considers Revoking Crypto Licenses as Government Mulls Tougher Regulations

Authorities in Estonia are working on new legislation expected to stiffen the rules for the country’s cryptocurrency sector. The Baltic nation’s regulator for the industry is considering whether to revoke previously issued crypto licenses and restart authorization from scratch. Licensed Crypto Companies Register Millions in Turnover, Estonia Gets Little With only around 1.3 million people, […]

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Jacobi Asset Management claims it will launch the world’s first ‘tier one’ bitcoin ETF

Jacobi Asset Management claims it will launch the world’s first ‘tier one’ bitcoin ETF

Jacobi Asset Management announced Friday that it has received approval to launch what it calls the world’s first “tier 1” bitcoin exchange-traded fund (ETF). The firm says the term reflects the top-tier partners supporting it. The new bitcoin ETF has authorization from the Guernsey Financial Services Commission (GFSC), Jacobi said in a press release. Jacobi […]

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CFTC Fines Stablecoin Issuer Tether and Crypto Exchange Bitfinex $42.5 Million

CFTC Fines Stablecoin Issuer Tether and Crypto Exchange Bitfinex $42.5 Million

On Friday, October 15, 2021, the U.S. Commodity Futures Trading Commission (CFTC) announced that it had ordered the company Tether Holdings Limited and Ifinex Inc., the parent company of Bitfinex, to pay fines totaling $42.5 million. The CFTC accuses Tether of “making untrue or misleading statements and omissions of material fact in connection with the […]

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VCs ‘pre-farming’ DeFI projects raises questions about ethics in crypto investing and airdrops

VCs ‘pre-farming’ DeFI projects raises questions about ethics in crypto investing and airdrops

Quick Take Last week a pseudonymous crypto user published evidence suggesting that a VC firm may have been trading based on insider knowledge of a DeFi protocol it backs. The episode highlights the chaotic world of crypto VC investing and raises fresh questions about the mechanics of airdrops. This feature story is available to subscribers […]

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US Treasury publishes new sanctions guidance for crypto businesses

US Treasury publishes new sanctions guidance for crypto businesses

The U.S. sanctions watchdog is honing in on the crypto industry.  On October 15, the Treasury’s Office of Foreign Asset Control (OFAC) released a new brochure with crypto-specific guidance on navigating U.S. sanctions.  The actual contents of the guidance are not especially revolutionary, but largely push the idea that OFAC expects virtual currency operators to […]

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