Tag: Regulation

FSB Report Says Stablecoins Promote Financial Inclusion: Urges Regulators to Tighten Laundering Controls

FSB Report Says Stablecoins Promote Financial Inclusion: Urges Regulators to Tighten Laundering Controls

The Financial Stability Board (FSB) says stablecoins have the potential to enhance the efficiency of the provision of financial services. The body adds that the hybrid cryptocurrencies have the potential to bring efficiencies to payments (including cross-border payments) as well as to promote financial inclusion. Yet despite this acknowledgment, the FSB still argues against the […]

Continue Reading

Cryptocurrency ETFs: SEC Wants to Facilitate Tokenized Products

Cryptocurrency ETFs: SEC Wants to Facilitate Tokenized Products

The U.S. Securities and Exchange Commission (SEC) wants to facilitate tokenized exchange-traded funds (ETFs), according to chairman Jay Clayton. The agency is collaborating with other U.S. regulators to determine how to regulate different crypto products. SEC Open to Tokenization of ETFs SEC Chairman Jay Clayton talked about the commission’s approach to regulating crypto products during […]

Continue Reading

Shariah Compliance Expert Says Cryptocurrencies Are Legit Commodities

Shariah Compliance Expert Says Cryptocurrencies Are Legit Commodities

A shariah compliance expert, the current chairman of the Shariah Advisory Council at Malaysia’s central bank and a shariah board member at many financial companies, says that cryptocurrency is a legit commodity that can be exchanged. Cryptocurrency and Shariah Compliance Cryptocurrency adoption and investments remain low in Muslim countries as people are still unsure of […]

Continue Reading

FCA-Approved Digital Assets Exchange Archax Raises $8 Million in Seed Funding Round

FCA-Approved Digital Assets Exchange Archax Raises $8 Million in Seed Funding Round

UK-based digital assets exchange Archax announced a successful seed funding round of $8 million on October 15. The fundraising exercise saw the participation of multiple venture capital firms involved in the crypto sector, such as Alameda Research, Hudson Capital, QBN Capital, Bridgetower Capital and others. Archax exceeded its fundraising goal of $5 million due to […]

Continue Reading

NYDFS invites digital asset firms to ‘techsprint’ aimed at digitizing financial reporting

NYDFS invites digital asset firms to ‘techsprint’ aimed at digitizing financial reporting

The New York Department of Financial Services (NYDFS) is bringing members of the digital asset industry together with other experts for a “techsprint” aimed at to coming up with new digital methods for these companies to submit regulatory reports. The need for a new approach became apparent when COVID-19 pandemic caused reporting to be delayed, […]

Continue Reading

How crypto firms and retail traders in the UK might get around the new derivatives ban

How crypto firms and retail traders in the UK might get around the new derivatives ban

Quick Take Some firms and retail investors could migrate offshore, and in particular to crypto-friendly EU jurisdictions. Others are betting that UK-based traders will turn to DeFi instead. This feature story is available to subscribers of The Block Daily. You can continue reading this Daily feature on The Block.

Continue Reading

Investors Ready for INX Crypto Exchange’s SEC-Registered IPO Token Sale

Investors Ready for INX Crypto Exchange’s SEC-Registered IPO Token Sale

An increasing number of cryptocurrency exchanges are venturing into public listings on traditional financial markets. INX Limited, a digital assets and security tokens trading platform, previously announced its August 24 Initial Public Offering (iPO) and the news made headlines as the sale was registered successfully with the US Securities and Exchange Commission (SEC) after the […]

Continue Reading

Spain Approves Bill Requiring Cryptocurrency Owners to Disclose Crypto Holdings

Spain Approves Bill Requiring Cryptocurrency Owners to Disclose Crypto Holdings

Spain’s government has reportedly approved a bill that requires cryptocurrency owners to disclose their crypto holdings and any gains on their assets. Spain’s Finance Minister and the government’s spokesperson, Maria Jesus Montero, said at a press conference following the weekly cabinet meeting that this bill is part of broader legislation to crack down on tax […]

Continue Reading

Ripple CEO Threatens to Relocate Company Overseas Due to Unfavorable US Regulation

Ripple CEO Threatens to Relocate Company Overseas Due to Unfavorable US Regulation

Ripple chief executive officer Brad Garlinghouse has threatened to move the company’s headquarters overseas should the U.S. fail to level the playing field with an unambiguous regulatory framework.In a series of tweets on Oct.12, Garlinghouse said: “The lack of a single national regulatory framework is putting U.S. innovation and U.S. companies at a significant disadvantage. […]

Continue Reading

Report: G7 financial leaders say they will oppose Libra until it is ‘adequately’ regulated

Report: G7 financial leaders say they will oppose Libra until it is ‘adequately’ regulated

Financial leaders from the world’s seven largest economies (G7) will oppose the launch of Facebook’s Libra stablecoin until it is “adequately” regulated, according to a Reuters report published Monday.  Reuters reviewed a draft statement that had been prepared for a meeting of finance ministers and central bankers from the U.S., Canada, Japan, Germany, France, Italy […]

Continue Reading