Tag: Association

Taiwan’s Cryptocurrency Sector Granted Approval for Industry Association Formation

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Taiwan’s Ministry of the Interior has approved the establishment of a cryptocurrency industry association, marking a significant step toward regulating the burgeoning sector. The local cryptocurrency industry working group, which was formed last year to pave the way for the creation of the association, announced on Friday that it had received government approval for its application. The working group is now tasked with finalizing all necessary preparations and officially establishing the cryptocurrency industry association by the end of June, as stipulated by government regulations. Comprising 22 cryptocurrency firms, including prominent…

Congolese Fintech Startups, Government Form Association to Accelerate Financial Inclusion

Democratic Republic of Congo (DRC)-based fintech startups have partnered with the government to launch an association. The goal of the collaboration is to accelerate financial inclusion in the African country. By partnering with the government, the association will play a crucial role in shaping “policies that encourage investment, competition, and access to financial services.” Bolstering […] Source CryptoX Portal

Majority of UK MPs ‘lack crypto knowledge,’ says industry association

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The self-regulatory trade association CryptoUK has reported roughly 5% of all Members of Parliament (MPs) in the United Kingdom have publicly spoken on crypto and blockchain, suggesting a lack of knowledge. In a report released on Dec. 14, CryptoUK analyzed the sentiment of MPs between 2022 and 2023, finding that only 37 lawmakers specifically mentioned crypto and blockchain — 5.7% of the 650 members. Some of the top voices in the U.K. government in 2023, according to CryptoUK, included MP and former Economic Secretary Andrew Griffith and crypto proponent Lisa…

Hong Kong Securities Association suggests ICO to boost island’s economy

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The suggestion that Hong Kong could make an “Initial Coin Offering” (ICO) appeared in a list of propositions formulated by the Hong Kong Securities and Futures Association to revitalize Hong Kong’s economy. The document, signed by association president Chen Zhihua, was published on Nov. 29 and included various measures, ranging from routine to bold. The suggestions include the legal recognition of Islamic finance, and inviting stakeholders from the Islamic world to set up a committee to formulate “Islamic finance guidelines with Hong Kong characteristics.” The tenth point of the list…

Blockchain Association Offers Support to Lift Sanctions on Tornado Cash

Blockchain Association slammed the OFAC stating that the regulator should catch hold of individuals engaging in illicit activities instead of imposing the ban. The Blockchain Association has reiterated its support for six plaintiffs challenging the US Treasury Office of Foreign Assets Control (OFAC) over the sanctions imposed on Tornado Cash, a crypto mixer. In a recent amicus curiae brief to a US appellate court, the advocacy group argued that OFAC’s sanction on the privacy protocol was not only unlawful but also exceeded its statutory authority. The Blockchain Association claimed that…

Blockchain Association files support in suit to lift Tornado Cash sanctions

The Blockchain Association has thrown fresh support behind six plaintiffs suing the United States Treasury Office of Foreign Assets Control (OFAC) over its sanctions on the crypto mixer Tornado Cash. In a Nov. 20 amicus curiae brief to a U.S. appellate court, the crypto advocacy group argued OFAC’s decision to sanction the privacy protocol was not only unlawful but exceeded its statutory authority and was both “arbitrary and capricious” — contrary to the U.S. Constitution. It’s the second amicus brief filed by the Blockchain Association supporting a group of Tornado…

Kenyan lawmakers ask local Blockchain Association to come up with crypto bill

Kenya might become the first country in the world where the industry’s representatives would develop the regulatory framework for crypto. According to the Blockchain Association of Kenya (BAK), The National Assembly’s Departmental Committee on Finance and National Planning has directed it to prepare the first draft of “what could become a virtual asset service provider’s bill.” On Oct. 31, the Committee on Finance and National Planning invited the BAK representatives to discuss the digital assets regulation. BAK’s legal and policy director, Allan Kakai, shared the details behind the meeting with…

Aragon Association to dissolve, will disburse $155M in assets to tokenholders

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The governing body for the aragonOS software will dissolve, distributing most of its assets to tokenholders in the process, according to a Nov. 2 blog post. The body, called the Aragon Association (AA), will distribute 86,343 Ether (ETH), approximately $155 million at the current price, from its treasury to tokenholders as it unwinds. We have an important update for all stakeholders of the @AragonProject. We passed a resolution to: – Deploy most of the treasury to allow all ANT holders to redeem their ANT for ETH– Dissolve the AA– Continue…

Blockchain Association director of government relations recaps speaker candidates’ records on cryptocurrency

Since Oct. 3, when lawmakers removed then-Speaker of the House of Representatives Kevin McCarthy, no legislation has made significant progress through the United States Congress. In an Oct. 23 post, The Blockchain Association’s director of government relations, Ron Hammond, provided an update on the tangential elements on crypto-related issues. Lack of stablecoin regulation As part of the thread, Hammond shares that the race for the Speaker position has attracted numerous candidates who are notably pro-crypto.  1) This week in Congress and crypto: Another week of House Speaker drama and intense…

Taiwan’s Cryptocurrency Sector’s Industry Association

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Taiwan’s cryptocurrency industry is taking steps towards establishing an industry association in collaboration with its financial regulator. This move comes ahead of the expected release of official guidelines later this week. In a collective statement, nine cryptocurrency firms have announced their intent to apply for the formation of an industry association by mid-October. To expedite the process, they have formed a dedicated working group. Since July 2021, Taiwan has mandated virtual asset services providers (VASPs) to adhere to anti-money laundering (AML) laws, as introduced by the Financial Supervisory Commission (FSC).…