Regulators in Malaysia have given oversight regarding the regulations of ICOs and Crypto trading

The regulation of cryptocurrencies have been moving in Malaysia According to the Bank of Negara in Malaysia the Securities Commission in Malaysia have issued a joint statement regarding the elaboration of its policies, for the applicable regulations regarding Cryptocurrencies and ICOs.  The Malaysian regulatory institutional bodies have provided details regarding its intentions to regulate digital trading of assets. This was in order to protect the interest of investors and to promote fair orderly trading business platforms. In a statement that was issued by the Securities Commission in Malaysia (SC) and…

Isle of Man updates crypto policy; to make oversight possible

Tax havens are quite an attraction to cryptocurrency businesses thanks to their less strict regulations. However, the Isle of Man has updated crypto policy to introduce further restrictions on crypto businesses in its jurisdiction. Reportedly, the updates affect businesses operating in the cryptocurrency sector. According to the updated document, the Isle of Man Financial Services Authority (IOMFSA) will register businesses subject to new conditions. In particular, the updated policy cites two conditions that make the new criteria to guide registration of crypto-related businesses. The conditions are that i) the businesses…

Ripple Leads Crypto Coalition Seeking Gov’t Oversight Encouraging Crypto, Blockchain

Ripple will lead a group of crypto startups to lobby lawmakers and financial regulators in D.C. to support crypto and blockchain innovation, Bloomberg reported on Thursday, September 27. According to the report, the coalition of San-Francisco-based crypto firms is planning to pay Klein/Johnson Group, a bipartisan lobby group, to assist the crypto and blockchain community in conveying to regulators that the industry needs support from the government. The new group, called the Securing America’s Internet of Value Coalition, aims to soften the government’s stance in order to encourage innovation and…

US Judge Rules to Bring Alleged Cryptocurrency Scam Under CFTC Oversight

A U.S. federal district judge has ruled that an allegedly fraudulent crypto token meets the definition of a commodity, bringing the case under regulators’ purview, Finance Feeds reports September 27. Judge Rya W. Zobel of the Massachusetts District Court ruled Sept. 25 against a motion to dismiss a case that had been launched by the Commodity Futures Trading Commission (CFTC) against an allegedly fraudulent crypto scheme known as “My Big Coin Pay Inc.,” reported to have been based in the state of Nevada. The CFTC had sued tech entrepreneur Randall…

UK Lawmakers Call For Greater Oversight of Crypto Industry

A group of U.K. lawmakers has called for more oversight and regulation of the cryptocurrency industry in a new report published Wednesday. Arguing that “crypto-assets have no inherent value,” are “especially risky” for retail investors and are “particularly vulnerable to manipulation,” the report states that “the introduction of regulation [to the cryptocurrency space] should be treated as a matter of urgency.” The report comes roughly seven months after the U.K. Treasury Committee first announced it would look into the benefits and risks of cryptocurrencies. The group wants to give the…

Japan Toughens Oversight, Penalizes Cryptocurrency Exchanges

In its most sweeping crackdown yet, a Japanese regulator has penalized seven cryptocurrency exchanges, requiring two to halt operations for one month. Japan’s Financial Services Agency (FSA) announced today, March 8, 2018, that it came down on the exchanges due to their failure to provide proper internal-control systems. All of the exchanges were ordered to step up efforts to improve security and prevent money laundering. Business suspension orders were issued for FSHO and Bit Station, effective today. The FSA said FSHO was not properly monitoring trades and employees at the…