Tag: Regulation

US Senators Introduce Crypto Sanctions Bill — Expert Says It’s Overbroad, Unconstitutional – Regulation Bitcoin News

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U.S. Senator Elizabeth Warren and 10 other lawmakers have introduced the “Digital Asset Sanctions Compliance Enhancement Act of 2022.” The bill “would place sweeping restrictions on persons who build, operate, and use cryptocurrency networks even if they have no knowledge or intent to help evade sanctions,” an expert said. Lawmakers Unveil Digital Asset Sanctions Compliance Enhancement Act U.S. Senator Elizabeth Warren introduced a bill titled “Digital Asset Sanctions Compliance Enhancement Act of 2022” during a Senate Banking Committee hearing Thursday. The bill is co-sponsored by 10 other Democratic senators, including…

EU Regulators Warn Crypto Unsuitable as Investment or Means of Payment for Most Retail Consumers – Regulation Bitcoin News

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Several European regulators have issued a joint warning on crypto assets. “These assets are not suited for most retail consumers as an investment or as a means of payment or exchange,” they stressed. EU Supervisory Authorities Warn About the Danger of Investing in Crypto Assets Three European Supervisory Authorities (ESAs) issued a joint statement warning about the risks of crypto assets Thursday. The European Banking Authority (EBA), the European Insurance and Occupational Pensions Authority (EIOPA), and the European Securities and Markets Authority (ESMA) “warn consumers that many crypto assets are…

8 US Lawmakers Urge SEC to Stop Crippling Crypto, Stifling Innovation – Regulation Bitcoin News

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Eight U.S. lawmakers have sent a letter to the chairman of the U.S. Securities and Exchange Commission (SEC) regarding how the agency collects information from crypto companies. According to the crypto community, the SEC’s “requests” for information “are overburdensome, don’t feel particularly voluntary, and are stifling innovation.” US Lawmakers Want Answers From SEC U.S. Representatives Tom Emmer, Darren Soto, Warren Davidson, Jake Auchincloss, Byron Donalds, Josh Gottheimer, Ted Budd, and Ritchie Torres have jointly sent a bipartisan letter to the chairman of the U.S. Securities and Exchange Commission (SEC), Gary…

Crypto Assets Can Help Russia Return to Global Financial Market, Lawmaker Says – Regulation Bitcoin News

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Digital financial assets like cryptocurrencies can help Russia to reach the global financial market despite western sanctions, a lawmaker working on crypto regulations has stated. The official believes the country is capable of setting up domestic crypto exchanges and should support mining. Russia Can Establish Own Cryptocurrency Exchanges, Deputy Insists The crypto space is an area where it’s difficult to impose restrictions on Russia, a member of the State Duma, the lower house of Russian parliament, has recently pointed out. Speaking to Parlamentskaya Gazeta, Alexander Yakubovsky emphasized that the country…

President Zelenskyy Signs Ukraine’s Law ‘On Virtual Assets’ – Regulation Bitcoin News

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President Volodymyr Zelenskyy has signed the law “On Virtual Assets” which aims to regulate the crypto market in Ukraine. The approval comes as his country is increasingly relying on cryptocurrency donations to fund its defense and deal with humanitarian problems amid an ongoing Russian invasion. Law Regulating Cryptocurrencies Approved by Ukraine President Zelenskyy Ukrainian President Volodymyr Zelenskyy has signed into law a bill establishing rules for cryptocurrency transactions. The law “On Virtual Assets” will allow crypto platforms to operate in the country which has been using digital assets to finance…

Democrat division over crypto isn’t all bad news for regulation

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The Biden Administration has just passed an executive order furthering research into crypto assets in view of regulating them, but politicians within the ruling Democrat party remain deeply divided on digital currency. The lack of consensus among Democrats could mean that a progressive regulatory framework for cryptocurrencies could still be a long way off —but also makes it more likely the eventual regulations won’t be too harsh thanks to the work of crypto-friendly representatives. The crypto community is familiar with the names cropping up time and time again in the…

Indian Government Says Central Bank Has No Plan to Issue Cryptocurrency – Regulation Bitcoin News

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The Indian government has told parliament that it does not have a plan to issue cryptocurrency to be regulated by the central bank, the Reserve Bank of India (RBI). The government also clarified that India’s central bank digital currency (CBDC), that the RBI will launch this financial year, is “a digital version of traditional paper currency.” Indian Parliament Asks Government About ‘RBI Cryptocurrency’ The Indian ministry of finance answered some questions Tuesday in Rajya Sabha, India’s upper house of parliament, regarding “RBI Cryptocurrency.” Rajya Sabha member Sanjay Singh asked the…

US Justice Department Returns Stolen Bitcoin to Victim of Government Imposter Scam – Regulation Bitcoin News

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The U.S. Justice Department has seized bitcoin stolen from an elderly man in a government imposter scam and will be returning the cryptocurrency to him. “The fraudsters deceived the victim into believing his personal information had been used to facilitate a drug trafficking and money laundering scheme,” detailed the DOJ. DOJ Returns Bitcoin Stolen From Elderly Victim The U.S. Department of Justice (DOJ) announced Tuesday “the successful forfeiture and return of stolen cryptocurrency to [an] elderly man victimized by government imposter scam.” The DOJ explained that in August last year,…

Binance Now Fully Licensed by Central Bank of Bahrain to Offer Crypto Services – Regulation Bitcoin News

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Cryptocurrency exchange Binance has announced that it has received a full license from the Central Bank of Bahrain. “The crypto asset license will allow Binance to provide crypto-asset trading, custodial services, and portfolio management to customers under the supervision of the Bahrain regulators,” said the exchange. Binance Now Licensed in Bahrain Cryptocurrency exchange Binance announced Monday that it has been granted a crypto asset service provider license from the Central Bank of Bahrain (CBB). Changpeng Zhao (CZ), founder and CEO of Binance, tweeted: Binance has been granted the first license…

Chinese Authorities Arrest Alleged Masterminds Behind an Online Virtual Currency Pyramid Scheme – Regulation Bitcoin News

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Authorities in China recently announced the arrest of ten suspects they say are behind an online pyramid platform that is thought to have stolen millions of dollars from unsuspecting users. The suspects are accused of using the promise of high returns and a regular income to lure more victims. A ‘Unicorn in the Field of Global Applications’ Chinese authorities recently said they had arrested ten individuals behind an online platform which they believe to be a pyramid scheme, a regional report from China has said. The report suggests the scammers…