Tag: Regulation

Senators Introduce Bill to Limit Use of China’s Digital Currency in the US — ‘This Is a Major Financial and Surveillance Risk’ – Regulation Bitcoin News

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Several U.S. lawmakers have introduced a bill to prohibit app platforms in the country from hosting apps that enable transactions using China’s central bank digital currency, the digital yuan. “The Chinese Communist Party will use its digital currency to control and spy on anyone who uses it. We can’t give China that chance,” said the senator who introduced the bill. Defending Americans from Authoritarian Digital Currencies Act U.S. Senator Tom Cotton (R-Arkansas) introduced the “Defending Americans from Authoritarian Digital Currencies Act” Wednesday. The bill is co-sponsored by Senators Mike Braun…

Binance And Kazakhstan Ink MOU On Crypto, Blockchain Regulation

Binance will aid the Kazakhstani government in its measures to regulate the country’s cryptocurrency market. The biggest cryptocurrency exchange by trading volume, Binance will provide assistance in integrating the local financial infrastructure with the growing digital assets market. Binance announced the signing of a Memorandum of Understanding with Kazakhstan’s Ministry of Digital Development, Innovations, and Aerospace Industry on Thursday. In the MOU, both parties declared an interest in the inclusion and growth of crypto assets. Suggested Reading | Bitcoin Superfan Jack Dorsey Bids Adios To Twitter Board CZ Meets With Kazakhstani President…

Binance to Advise Kazakhstan on Crypto Regulations – Regulation Bitcoin News

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Cryptocurrency exchange Binance will assist the government of Kazakhstan in efforts to regulate the country’s crypto space. The global coin trading platform will also help with the integration of the domestic banking system with the expanding digital assets market. Kazakhstan to Cooperate With Binance on the Development of Its Crypto Sector Binance, the world’s leading crypto exchange by trading volume, has signed a memorandum of understanding with Kazakhstan’s Ministry of Digital Development, Innovation and Aerospace Industry. The major crypto platform and the department will collaborate in the crypto space. The…

Chamber of Representatives in Paraguay Advances Crypto Bill – Regulation Bitcoin News

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Cryptocurrency regulation in Paraguay is progressing steadily, as a crypto bill introduced in December has been approved by the Chamber of Representatives in the country. The bill, which contains definitions and rules for cryptocurrency mining, one of the hot topics in Paraguay due to the cheap electricity costs, will be passed to the Senate to be discussed. Paraguay Advances Crypto Bill Latam countries are taking cryptocurrencies in a more serious light, and are now working to approve cryptocurrency legal frameworks. This is the case of Paraguay, a country…

SEC Drops the Ball on Crypto Regulation and There Are Long-Term Consequences, Says Commissioner – Regulation Bitcoin News

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A commissioner with the U.S. Securities and Exchange Commission (SEC) has warned that the securities market regulator has dropped the ball on crypto regulation. “We’re not allowing innovation to develop and experimentation to happen in a healthy way, and there are long-term consequences of that failure,” said the commissioner. SEC Commissioner Warns About the ‘Failure’ of Crypto Regulation SEC Commissioner Hester Peirce expressed concerns that the U.S. has dropped the ball on the regulation of cryptocurrencies in an interview with CNBC on the sidelines of the DC Blockchain Summit this…

Binance signs MOU with Kazakhstan to further crypto adoption and regulation

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Cryptocurrency exchange Binance has signed a memorandum of understanding, or MOU, with the government of Kazakhstan to bolster “virtual asset market development” in the central Asian country.  The signing of the MOU, which is between Binance and Kazakhstan’s Ministry of Digital Development, Innovations and Aerospace Industry, took place on Wednesday during Changpang Zhao’s official visit to the country. The Binance CEO met with Kazakh President Kassym-Jomart Tokayev, First Deputy Chief of Staff Timur Suleimenov and Bagdat Musin, the minister overseeing the country’s digital innovation strategy. Under the framework, Binance will…

Bank of England’s Andrew Bailey Warns Bitcoin Has No Intrinsic Value, Not a Practical Means of Payment – Regulation Bitcoin News

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The governor of the Bank of England, the British central bank, says bitcoin has no intrinsic value and the cryptocurrency is not suitable as a practical means of payment. His warning came after the crypto market plunged. Andrew Bailey on Bitcoin and Cryptocurrency Bank of England Governor Andrew Bailey warned about bitcoin and cryptocurrency on the Jobs of the Future podcast, published Monday. His warning came after the crypto market plunged, shedding close to $500 billion this month. Bitcoin, the largest cryptocurrency, has fallen more than 25% over the past…

Russian Court Recognizes Cryptocurrency as Means of Payment, Prosecutors See Precedent – Regulation Bitcoin News

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The City Court of St. Petersburg has recognized a large amount of cryptocurrency handed over by the victim in an extortion case as a means of payment, Russian media reported. The prosecutor’s office in Russia’s second-largest city describes the ruling as a precedent. Two Men Sentenced for Cryptocurrency Extortion in Russia Two Russian citizens have been sentenced to nine and seven years in prison under strict regime for extorting 5 million rubles (almost $90,000) in cash and 55 million rubles (close to $1 million) in digital assets from another man.…

India’s Central Bank Governor Warns About Crypto After Collapse of Terra LUNA, UST – Regulation Bitcoin News

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India’s central bank, the Reserve Bank of India (RBI), has warned about investing in the crypto market following the collapse of cryptocurrency terra (LUNA) and stablecoin terrausd (UST). “We have been cautioning against crypto and look at what has happened to the crypto market now,” said Governor Shaktikanta Das. RBI’s Governor on Crypto Market and Regulation The governor of the Reserve Bank of India (RBI), Shaktikanta Das, discussed the crypto market downturn and the regulation of crypto assets in an interview with CNBC TV18 Monday. “We have been cautioning against…