Tag: Regulations

Cryptocurrency Enforcement Framework announced by the US Department of Justice

The United States Department of Justice is focusing its attention on the crypto-verse and how to control that ecosystem. On October 8, 2020, the US Attorney General released a report talking about the dangers associated with the adoption of cryptocurrencies and the expectations of the DOJ in this regard. The “Cryptocurrency Enforcement Framework” is an […]

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FCA Survey Shows 97% Disagreed With The Cryptocurrency Derivatives Ban

FCA Survey Shows 97% Disagreed With The Cryptocurrency Derivatives Ban

Before implementing the ban on cryptocurrency derivatives sales in the UK for retail investors, the FCA asked over 500 firms, trade bodies, and competent authorities on their opinion. Interestingly, the results decisively concluded that 97% of all participants didn’t agree with the prohibition. 97% Oppose The FCA Crypto Derivatives Ban UK’s watchdog, the Financial Conduct […]

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UK FCA Bans Cryptocurrency Derivatives Starting January 2021

The United Kingdom Financial Conduct Authority plans to ban cryptocurrency derivatives and exchange-traded notes (ETNs) to retail customers from January 6th, 2021.   The FCA statement described such products as “ill-suited for retail customers due to the harm they pose.” The regulator outlined that retail customers are unable to determine a reliable value because of […]

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All stocks could become tokenized, says SEC chairman Clayton

All stocks could become tokenized, says SEC chairman Clayton

Jay Clayton, chairman of the U.S. Securities and Exchange Commission (SEC), appears to believe in blockchain technology’s power and thinks that all stocks could become tokenized one day. In a webinar hosted jointly by the Chamber of Digital Commerce and blockchain startup Securrency on Friday, Clayton said all stock trading is today electronic, compared to […]

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World Regulators Worried About Cryptocurrencies Used In Illegal Activities

World Regulators Worried About Cryptocurrencies Used In Illegal Activities

A recent study compiled with government authorities and regulators concluded that they still view the cryptocurrency industry as a significant risk source. Those establishments raised concerns regarding the field’s self-regulation and the number of illegal activities funded by digital assets. Unsurprising: Regulators Worried About Crypto Regulations The UK’s oldest defense and security think tank, the […]

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Investors Pull More Than $400 Million in BTC Out of BitMEX

Investors Pull More Than $400 Million in BTC Out of BitMEX

News of the indictment of BitMEX founders and the charges being brought against the Seychelles-registered crypto exchange have left the crypto community completely wrong-footed. As a result, investors have reacted to the news by quickly shifting their funds out of BitMEX to other exchanges in an attempt to safeguard their assets. According to data by […]

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Majority of Crypto Exchanges Have Weak KYC Measures, Says CipherTrace

Majority of Crypto Exchanges Have Weak KYC Measures, Says CipherTrace

The world of cryptocurrency has long been the target of financial regulatory ire without the emergence of decentralized finance (DeFi) projects. This year inarguably goes to the DeFi sector, which has managed to lock in over $11 billion USD worth of assets, but is DeFi adding oil to fire? Blockchain analytic and security firm CipherTrace […]

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CFTC Charges BitMEX in Negligence over Money Laundering Prevention Failure

CFTC Charges BitMEX in Negligence over Money Laundering Prevention Failure

Seychelles-registered crypto exchange BitMEX is currently in hot waters with the Commodity Futures Trading Commission (CFTC). According to Bloomberg, federal prosecutors are accusing BitMEX and its founders Arthur Hayes, Benjamin Delo and Samuel Reed for enabling money laundering and also illegally serving US customers. Prosecutors state that being registered in Seychelles for the cost of […]

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More 2017 ICO Token Sales Bite The Dust – SEC Wins Lawsuits Against Kik & Salt

More 2017 ICO Token Sales Bite The Dust – SEC Wins Lawsuits Against Kik & Salt

The US Securities and Exchange Commission (SEC) has been on a winning streak this year after its major win against Telegram in its 2018 Gram Token sale, which led to the project being shelved permanently. While that battle was going on, Canada-based Kik and crypto loan service provider Salt Lending were facing lawsuits of their […]

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Two New Draft Bills Proposed to Congress to Regulate Crypto and Blockchain Tech

Two New Draft Bills Proposed to Congress to Regulate Crypto and Blockchain Tech

In a bid to bring greater clarity to crypto regulation in the US, Congress has stepped in on the Securities and Exchange Commission’s (SEC) behalf to possibly enact proper laws governing the crypto and blockchain industry. The SEC has been the final arbiter on crypto-related cases in recent years and has been criticized for unchecked […]

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