Tag: Regulation

New Zealand Watchdog Issues Warning on Crypto Investments Following Bitcoin’s Latest Price Drop

New Zealand Watchdog Issues Warning on Crypto Investments Following Bitcoin’s Latest Price Drop

New Zealand’s financial regulator issued a warning alert to local cryptocurrency investors and traders amid the recent bitcoin’s price action. The Financial Markets Authority (FMA) asks people to remain cautious because cryptos are “high risk and highly volatile assets.” FMA Warns About Unregulated Overseas Crypto Exchanges According to an official statement published in the NZ […]

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Brian Brooks says ‘antiquated rules’ need updates for a future of DeFi and software-based banks

Brian Brooks says ‘antiquated rules’ need updates for a future of DeFi and software-based banks

Acting Comptroller of the Currency Brian Brooks believes regulators need to re-think banking regulations in light of the emergence of decentralized finance (DeFi) applications and use cases. A time in which some banks are entirely composed of software is on the horizon, according to Brooks, and regulators will need to adjust to that reality. Brooks […]

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Former CFTC chair Gary Gensler to be named head of SEC by Joe Biden: report

Former CFTC chair Gary Gensler to be named head of SEC by Joe Biden: report

Gary Gensler, the former Obama-era chairman of the Commodity Futures Trading Commission, is reportedly set to be named as chairman of the Securities and Exchange Commission for the incoming Biden administration. Citing sources with knowledge of the process, Reuters said that the nomination will happen “in coming days.” Gensler was added to Biden’s transition team […]

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Examining the STABLE Act Proposal, Part I

Examining the STABLE Act Proposal, Part I

Quick Take A controversial legislative proposal for the Stablecoin Tethering and Bank Licensing Enforcement (STABLE) Act was recently announced by members of Congress, which could have extensive implications for digital assets if the bill were signed into law.  Our two-part series will examine the STABLE Act Discussion Draft, those endorsing the potential legislation, reactions from […]

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UK Government Asks Crypto Industry to Provide Insights on Its Regulatory Approach

UK Government Asks Crypto Industry to Provide Insights on Its Regulatory Approach

Her Majesty’s Treasury in the U.K. issued a document that details a series of proposals addressing the crypto community. With the consultation, the Treasury is initiating a “regulatory approach to cryptoassets and stablecoins” for 2021 following the Brexit turmoil. Special Focus on Stablecoins Regulation According to the official announcement, the consultation mainly targets stablecoins to […]

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JP Morgan Warns of Falling BTC Price With Bitcoin ETF Approval in US

JP Morgan Warns of Falling BTC Price With Bitcoin ETF Approval in US

JP Morgan’s analysts say that the U.S. Securities and Exchange Commission (SEC) approving a bitcoin exchange-traded fund (ETF) is likely negative for bitcoin in the near term. There is optimism around the prospect of the SEC approving a bitcoin ETF under new leadership, the analysts say. SEC Approving Bitcoin ETF Could Be Negative JP Morgan […]

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FCA issues warning over high returns offered by crypto firms

FCA issues warning over high returns offered by crypto firms

The Financial Conduct Authority, the UK financial services regulator, has issued a stern warning about the “very high risks” faced by consumers who choose to invest in cryptocurrency. The warning comes as bitcoin fell from all-time highs of more than $40,000 to less than $33,000 overnight. “If consumers invest in these types of product, they […]

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The CFTC Asks Court to Issue Fines in Excess of $100M Against Mastermind of a Fraudulent Crypto Scheme

The CFTC Asks Court to Issue Fines in Excess of $100M Against Mastermind of a Fraudulent Crypto Scheme

The Commodity Futures Trading Commission (CFTC) has filed a motion with the New York Southern District Court that seeks heavy penalties against Michael Ackerman, the mastermind of a fraudulent cryptocurrency scheme. According to the motion, the U.S. agency wants the court to order Ackerman to pay $27 million in restitution plus a civil penalty of […]

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Economist Discusses What Would Happen if the Masses Ditch Fiat Currencies for Bitcoin

Economist Discusses What Would Happen if the Masses Ditch Fiat Currencies for Bitcoin

American economist Brian Wesbury has shared his thoughts on what would happen if the masses were to ditch fiat currencies and adopt bitcoin instead. He discussed whether the government would allow it to happen and how bitcoin can become a true currency. Economist Brian Wesbury Answers Question About the Masses Ditching Fiat Currencies for Bitcoin […]

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