Tag: Regulation

Crypto Exchange Bitmex’s Founders Plead Guilty to Bank Secrecy Act Violations – Regulation Bitcoin News

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The founders of cryptocurrency derivatives exchange Bitmex, Arthur Hayes and Benjamin Delo, have pled guilty to violations of the U.S. Bank Secrecy Act. “As a result of its willful failure to implement AML and KYC programs, Bitmex was in effect a money-laundering platform,” said the U.S. Department of Justice. Bitmex’s Founders Guilty of Bank Secrecy Act Violations The U.S. Department of Justice (DOJ) announced Thursday that the founders of cryptocurrency derivatives exchange Bitmex have pled guilty to violating the Bank Secrecy Act (BSA). The DOJ stated: Arthur Hayes and Benjamin…

ECB president calls for crypto regulation in response to Russia potentially evading sanctions

Christine Lagarde, president of the European Central Bank (ECB), has called on lawmakers to approve a regulatory framework on crypto, hinting at potentially preventing Russia from getting around economic sanctions. Speaking to reporters at an informal meeting of economics and finance ministers on Friday, Lagarde said the European Central Bank would be “decisively and rigorously” implementing the sanctions on Russia imposed by European lawmakers in response to the country’s invasion of Ukraine. In response to a question on Russia potentially using crypto to evade some of these measures, the ECB…

Central Bank of Argentina Prepares New Regulations for Digital Wallets – Regulation Bitcoin News

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The Central Bank of Argentina is reportedly working on a new group of regulations seeking to control the totality of the digital wallets in the country. This new legal framework is directed at stopping fraud said to be facilitated by these tools. According to leaks on local media, the publication of the law is imminent. Central Bank of Argentina Targets Digital Wallets The Central Bank of Argentina has its sights on the use of digital wallets. The directory of the bank is reportedly producing a new set of…

India Unveils Guidelines for Crypto Advertising – Regulation Bitcoin News

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The Advertising Standards Council of India has released guidelines for the advertising and promotion of crypto assets and related services. “We had several rounds of discussion with the government, finance sector regulators, and industry stakeholders before framing these guidelines.” India’s Crypto Ad Guidelines Published The Advertising Standards Council of India (ASCI) published Wednesday “guidelines for advertising and promotion of virtual digital assets and services.” The guidelines are applicable to all advertisements related to virtual digital assets (VDA) which are “commonly referred to as crypto or NFT [non-fungible token] products,” ASCI…

US Secret Service Launches Crypto Awareness Hub to Educate the Public on Digital Asset Security – Regulation Bitcoin News

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The U.S. Secret Service has launched a cryptocurrency awareness hub. The new platform “will feature the latest in the agency’s work combating illicit use of digital assets as well as provide public awareness information on digital asset security and how to ensure it remains secure.” Secret Service’s Crypto Awareness Hub The U.S. Secret Service announced last week that it “has launched a cryptocurrency public awareness hub.” Established in 1865 as a bureau in the Treasury Department to suppress widespread counterfeiting, the Secret Service is now under the Department of Homeland…

Senator Rand Paul Warns the US Has Similar Statutes to Emergencies Act in Canada – Regulation Bitcoin News

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U.S. Senator Rand Paul says “statutes that allow presidents or heads of state to invoke emergencies are very, very dangerous.” Commenting on Canada’s Emergencies Act invoked by the Trudeau government, the senator warned, “We have the same sort of statutes here.” Senator Rand Paul Warns of Emergency Act in the US U.S. Senator Rand Paul warned of statutes in the U.S. similar to the Emergencies Act invoked by Canadian Prime Minister Justin Trudeau last week during an episode of the Based Politics podcast that aired Sunday. “I think statutes that…

EU Members Want to Task New AML Watchdog With Crypto Oversight, Report Unveils – Regulation Bitcoin News

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A group of EU nations have reportedly been lobbying to entrust oversight of the crypto space to a new anti-money laundering (AML) agency. Behind the move are concerns that companies dealing with digital assets can be engaged in the processing of illicit funds. Germany Leads Push to Place Crypto Firms Under EU Anti-Money Laundering Supervision Several EU member states, led by Germany, have been urging the European Union to grant a planned anti-money laundering (AML) watchdog powers to oversee businesses in the crypto sector. Quoting knowledgeable sources, Bloomberg revealed these…

Grayscale Investments Asks Investors to Help Convince SEC to Approve Bitcoin Spot ETF – Regulation Bitcoin News

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Grayscale Investments, the world’s largest digital asset manager, has launched a campaign aimed at convincing the U.S. Securities and Exchange Commission (SEC) to approve its bitcoin spot exchange-traded fund (ETF) application. Grayscale seeks to convert its $25.7 billion bitcoin trust (GBTC) to a bitcoin spot ETF. Asset Manager Campaigns to Get Bitcoin Spot ETF Approved Grayscale Investments announced Tuesday the launch of a campaign “to educate and encourage American investors to submit comments” on its application with the SEC to convert Grayscale Bitcoin Trust (OTCQX: GBTC) to a spot bitcoin…

Russia’s Finance Ministry Submits Bill to Legalize Crypto Investments, Ban Payments – Regulation Bitcoin News

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Russian Ministry of Finance has prepared and submitted a new bill to expand crypto regulations to the government. The law “On Digital Currency” aims to introduce rules for investment in cryptocurrencies while at the same time cementing a ban on their use in payments. Draft Law ‘On Digital Currency’ to Regulate Crypto Turnover in Russia The Ministry of Finance of the Russian Federation has presented to the federal government in Moscow legislation tailored to fill the regulatory gaps in the country’s crypto space, remaining after last year’s enforcement of the…