Tag: Regulation

SEC Needs New Tools, Expertise, and Resources to Regulate Crypto Industry – Regulation Bitcoin News

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U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler said in a congressional hearing that the securities regulator “requires new tools, expertise, and resources” to combat misconduct in the crypto space. “We’ve seen the Wild West of the crypto markets, rife with noncompliance, where investors have put hard-earned assets at risk in a highly speculative asset class,” he stressed. SEC Chair Gary Gensler on Budget Request and Crypto Regulation The chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, testified on his agency’s Fiscal Year (FY) 2024 budget…

UK government announces ‘robust’ crypto regulation as part of economic crime plan

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The government of the United Kingdom has laid out plans to step up regulation of crypto assets in its efforts to respond to economic crime in the country. In a policy paper released on March 30, the U.K. Treasury and Home Office said it planned to “robustly” regulate crypto to fight illicit use of digital assets. The focus on regulation was part of the government’s economic crime plan from 2023 to 2026, which also included pooling “the knowledge and abilities of law enforcement agencies” to review and strengthen how crypto…

Projecting ‘Orange Pill’ on banks as EU drives crypto regulation

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“The signal goes on, and he shows up. That’s the way it’s been. That’s the way it will be.” Whenever Gotham faces an existential threat, the Bat-Signal lights up the night sky. In the DC Comics universe, Batman always shows up to save the day when he’s called upon. Bitcoiners in Germany employed a similar tactic this week, emblazoning the preeminent cryptocurrency’s logo with a message to ‘study Bitcoin’ on the side of the European Central Bank building in Frankfurt. The images were shared widely across social media, with notable Bitcoin (BTC)…

UK Government Drops Plan to Launch NFT With Royal Mint – Regulation Bitcoin News

The U.K. government has confirmed that it is not proceeding with a plan to launch a non-fungible token (NFT). British Prime Minister Rishi Sunak asked the Royal Mint to create an “NFT for Britain” while he was serving as the Chancellor of the Exchequer last year as part of his efforts to make the U.K. a global hub for crypto-asset technology and investment. Britain Drops NFT Plan Parliament Member Harriett Baldwin, chair of the House of Commons Treasury Select Committee and a member of the NATO Parliamentary Assembly, asked the…

EU Lawmakers Vote to Impose €1,000 Limit on Unidentified Crypto Transactions – Regulation Bitcoin News

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EU lawmakers have voted in favor of imposing a €1,000 limit on crypto transactions where the customer cannot be identified. “Entities, such as banks, assets and crypto assets managers, real and virtual estate agents, and high-level professional football clubs, will be required to verify their customers’ identity, what they own and who controls the company,” the European Parliament emphasized. Lawmakers Vote on New EU Regulation On Tuesday, members of the European Parliament (MEP) from the Economic and Monetary Affairs Committee (ECON) and the Civil Liberties, Justice and Home Affairs Committee…

Senate Banking Committee Holds Hearing on Recent Bank Collapses, Calls for Tougher Regulations – Regulation Bitcoin News

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On Tuesday, the U.S. Senate Committee on Banking, Housing, and Urban Affairs, also known as the Senate Banking Committee, held a hearing to discuss the recent bank collapses in the United States and the regulatory response. Throughout the testimonies, digital assets and crypto businesses were mentioned. Senate Banking Committee chairman Sherrod Brown claimed on Tuesday that Signature Bank “found itself in the middle of Sam Bankman-Fried’s crime spree at the crypto exchange FTX.” Regulators Highlight Bank Exposure to Crypto Asset Businesses in Senate Banking Committee Hearing About Bank Failures Following…

Do Kwon Successfully Formed a Company in Serbia Weeks After Interpol Issued Red Notice – Regulation Bitcoin News

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According to a report, the recently arrested Terraform Labs co-founder Do Kwon was able to register a company in Serbia just a few weeks after Interpol issued a Red Notice for him. Lawyers that helped Kwon form a company in Serbia reportedly said they were not aware of Interpol’s Red Notice against their client. Do Kwon Uses Korean Passport to Register Company Just a few weeks after an Interpol Red Notice for arrest was issued, the former Terraform Labs CEO Kwon was still able to form and register a company…

Binance CEO CZ Responds to US Regulator’s Charges – Regulation Bitcoin News

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Binance CEO Changpeng Zhao (CZ) has addressed the allegations against him by the U.S. Commodity Futures Trading Commission (CFTC). “We do not agree with the characterization of many of the issues alleged in the complaint,” the executive stressed. CZ Responds to CFTC’s Allegations The CEO of cryptocurrency exchange Binance, Changpeng Zhao (CZ), published a blog post on Monday to address the civil enforcement action against him and his crypto exchange by the U.S. Commodity Futures Trading Commission (CFTC). The U.S. regulator charged Zhao and three entities that operate the Binance…

Ethereum Co-Founder Says Crypto Ecosystem Has Never Been Better or Stronger – Regulation Bitcoin News

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Ethereum co-founder Joseph Lubin says the strength of the crypto ecosystem “has never been better or stronger.” He believes “more clarity” from regulators would be helpful for the crypto industry. “I think our industry has suffered from having two major factions lumped into one: the money-crypto faction … and the tech-crypto faction,” he explained. Ethereum’s Co-Founder on Crypto Ecosystem, Regulation Ethereum co-founder Joseph Lubin discussed the state of the crypto ecosystem, regulation, and whether ether (ETH) is a security in an interview with CNBC last Wednesday. “The strength of our…

US Seizes 18 Crypto ATMs Purchased Using Fraudulent SBA Loans — Arrests Owner – Regulation Bitcoin News

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U.S. law enforcement has seized 18 cryptocurrency ATMs that were purchased using fraudulent loans from the Small Business Administration (SBA) meant to assist small businesses financially harmed by the Covid-19 pandemic. The loans were also used to purchase bitcoin from a New York-based cryptocurrency exchange, said the U.S. Department of Justice (DOJ). Coindawg’s Crypto ATMs Seized The U.S. Department of Justice (DOJ) announced on Thursday that Charles Riley Constant, aka Chuck Constant, has been arrested “for charges in connection with a scheme to steal and launder over $1 million in…