Tag: Regulation

US Secret Service Has Seized Cryptocurrency Worth Over $102 Million in 254 Fraud Cases – Regulation Bitcoin News

boss

The U.S. Secret Service has seized cryptocurrency worth more than $102 million in 254 fraud-related investigations. “What criminals want to do is sort of muddy the waters and make efforts to obfuscate their activities,” said the assistant director of the Secret Service’s Office of Investigations. “What we want to do is to track that as quickly as we can, aggressively as we can, in a linear fashion.” US Secret Service Seizes Cryptocurrency Worth $102 Million A senior executive with the U.S. Secret Service, David M. Smith, talked about cryptocurrency in…

US Lawmaker Urges Biden Administration to Develop ‘Robust Strategy’ to Prevent Crypto Use to Evade Sanctions – Regulation Bitcoin News

boss

A U.S. lawmaker has urged the Biden administration to develop a “robust strategy” to prevent cryptocurrency from being used to evade sanctions. “Emerging technologies like cryptocurrency offer many positive applications like humanitarian relief, but the administration has not kept pace in ensuring this novel form of currency is not used to the detriment of U.S. national security,” he said. Congressman McCaul Wants a ‘Robust Strategy’ to Prevent Crypto Use to Evade Sanctions A senior member of the House Foreign Affairs Committee, U.S. Representative Michael McCaul (R-TX), has made a number…

Iran to Increase Penalties for Unauthorized Cryptocurrency Mining – Regulation Bitcoin News

boss

Iran has drafted new rules to increase penalties for illegal cryptocurrency mining in the country, including additional fines and imprisonment. “Any use of subsidized electricity intended for households, industrial, agricultural, and commercial subscribers for mining cryptocurrency is prohibited.” New Penalties for Illegal Cryptocurrency Mining in Iran An official with Iran’s Power Generation, Distribution, and Transmission Company (Tavanir) said the country’s administration will approve new rules to increase penalties for unauthorized cryptocurrency mining, IRNA publication reported Sunday. Mohammad Khodadadi Bohlouli explained that under the new law: The increased penalties include raising…

The Young Turks Embarrass Themselves Trying To Discuss Crypto Regulation

boss

Why do these Young Turks ladies dare to speak about a subject as complex as cryptocurrencies without doing ANY research? In the following video, both Ana Kasparian and Francesca Fiorentini read a New York Times article interpreting it as fact, while giving the most inane commentary you could imagine. To make things worse, they try to be sarcastic and humorous and fail completely at that too.  Related Reading | Crypto Needs Regulation If It’s Going To Survive, Says SEC Boss Their main thesis is that crypto lobbyists are influencing bills…

Andre Cronje sees a ‘necessity for regulation’ ahead of crypto’s new era

boss

Andre Cronje, former Fantom Foundation technical adviser and Yearn.finance founder, resurfaced on Monday via Medium after announcing his departure from the DeFi and crypto space last month. In a post titled “The rise and fall of crypto culture,” Cronje expressed his lamentations of crypto culture as he called for increased regulation and legislation in the industry. When Cronje and his colleague Anton Nell tweeted about the fate of all the applications and services they had built, they offered no other details as to their personal motivations. They even proceeded to deactivate…

Self-regulatory organizations growing alongside new US crypto regulation

boss

As adoption takes off, the crypto industry is exerting increasing influence on American society. This can be seen in its lobbying efforts and political action committees, for example, as well as its own organizational efforts, such as forming business associations that promote crypto at the state, regional and national levels. Yet another way crypto is influencing society is through self-regulation. The broader impact of self-regulation may be less apparent than when a PAC finances a political campaign or a startup is nurtured in a crypto industry-sponsored accelerator, and that limited…

Bill ‘On Digital Currency’ Caps Crypto Investments for Russians, Opens Door for Payments – Regulation Bitcoin News

boss

Russia’s recently revised bill “On Digital Currency” limits crypto purchases for non-qualified investors while providing legal ground for some cryptocurrency payments, according to local media. The draft law, proposed by the Russian finance ministry, also introduces strict requirements for platforms operating with digital assets. Russian Citizens Who Don’t Pass Test to Buy Only $600 Worth of Crypto Annually The Ministry of Finance of Russia recently submitted to the government an updated version of its bill “On Digital Currency” designed to comprehensively regulate the country’s crypto market. Details about the law’s…

Bitcoin ATM Operator Indicted in New York Allegedly Running Illegal Business Attracting Criminals – Regulation Bitcoin News

boss

A bitcoin ATM operator has been indicted in New York for running an illegal business “marketed towards individuals engaged in criminal activity.” The district attorney in charge described: “Robert Taylor allegedly went to great lengths to keep his bitcoin kiosk business as secret as possible to attract a clientele that would pay top dollar for anonymity.” Operator of 46 Bitcoin ATMs Charged Manhattan District Attorney Alvin Bragg Jr. announced Wednesday that Robert Taylor has been indicted “for operating an illegal bitcoin ATM business that he marketed towards individuals engaged in…

SEC Risks Violating Admin Procedure Act by Rejecting Spot Bitcoin ETFs, Says Grayscale – Regulation Bitcoin News

boss

Grayscale Investments’ CEO explains that the U.S. Securities and Exchange Commission (SEC) could potentially violate the Administrative Procedure Act by not approving a spot bitcoin exchange-traded fund (ETF). SEC Approving Spot Bitcoin ETF Is ‘a Matter of When and Not If’ The U.S. Securities and Exchange Commission (SEC) has now approved not one but two different structures of bitcoin futures exchange-traded funds (ETFs). This has led to the optimism in the crypto industry that the securities watchdog is closer to approving a spot bitcoin ETF. The first structure utilizes the…

Oman to Incorporate Real Estate Tokenization in Virtual Assets Regulatory Framework – Regulation Bitcoin News

boss

Real estate tokenization is set to be incorporated into Oman Capital Markets Authority (OCMA)’s virtual asset regulatory framework. According to an advisor with the authority, the tokenizing of real estate will open investment opportunities for local and foreign investors. Real Estate Tokenization Creates Investment Opportunities Oman Capital Market Authority (OCMA) is set to include real estate tokenization in its virtual asset regulatory framework, a report quoting an advisor of the authority has said. According to the report, Oman expects to complete drafting the virtual assets regulatory framework by Q3 of…