Tag: Regulation

Ukrainian Parliament Adopts Amended Virtual Assets Law – Regulation Bitcoin News

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Ukrainian lawmakers have approved an updated version of legislation tailored to regulate the country’s crypto economy. The bill, which was first passed last year, was later returned to the legislature by President Volodymyr Zelensky who requested some changes. Majority of Ukrainian Deputies Back Law ‘On Virtual Assets’ Verkhovna Rada, Ukraine’s parliament, has adopted new legislation that will govern crypto activities in the country, a leader in Eastern Europe in terms of cryptocurrency adoption. A sizable majority of 272 out 365 voting members supported amended law “On Virtual Assets” on second…

US State Wants to Lead in Crypto Acceptance — Colorado to Accept Crypto for Tax Payments This Summer – Regulation Bitcoin News

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The U.S. state of Colorado is preparing to accept cryptocurrency for tax payments, said Governor Jared Polis. “We expect to accept crypto by this summer,” he said, adding that after tax payments, crypto will be accepted for other things like driver’s licenses or hunting licenses. Colorado to Accept Crypto for Tax Payments The governor of the U.S. state of Colorado, Jared Polis, talked about his state’s efforts to become the leader in cryptocurrency acceptance in an interview with CNBC Tuesday. Regarding his state accepting cryptocurrency for tax payments, he said:…

Banning Crypto Is Like Banning Internet in Russia, Finance Minister Says Amid Differences With Central Bank – Regulation Bitcoin News

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It’s impossible to ban cryptocurrencies in Russia, the country’s minister of finance has stated in his first comments on his department’s latest disagreements with the Russian monetary authority. The two institutions are reportedly failing to reach consensus on crypto regulation but the treasury intends to submit draft legislation despite their differences. Disagreements on Future of Cryptocurrencies Persist Between Finance Ministry and Bank of Russia A meeting between the Central Bank of Russia (CBR) Governor Elvira Nabiullina, Russian Finance Minister Anton Siluanov, and Deputy Prime Minister Dmitry Grigorenko — devoted to…

The Republic of the Marshall Islands Allows Registration of DAOs as Legal Entities – Regulation Bitcoin News

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The Republic of the Marshall Islands has announced it will allow decentralized autonomous organizations (DAOs) to become legal entities. At the time of writing, only one DAO has successfully incorporated in the country. DAOs Will Be Allowed to Register as Legal Entities The Republic of the Marshall Islands (RMI) has said it will allow decentralized autonomous organizations (DAOs) to register as legal entities. The move, which has been made by the recent passage of the Non-Profit Entities (Amendment) Act 2021, makes it possible for DAOs to be “recognized by the…

Coinbase and 17 Other Crypto Firms Launch ‘Travel Rule Universal Solution Technology’ – Regulation Bitcoin News

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On Wednesday, the publicly-listed cryptocurrency firm Coinbase announced the launch of a collaborative effort called TRUST, which stands for “Travel Rule Universal Solution Technology.” The plan is described as an “industry-driven solution” developed to comply with the Financial Action Task Force (FATF) Travel Rule. There are currently 18 crypto firms that have joined TRUST so far, and the collaborative effort is welcoming other companies to join the initiative. 18 VASPs Launch TRUST in Order to Comply With FATF’s Travel Rule For quite some time now, FATF’s Travel Rule has been…

Global Regulation Urgently Needed for Banks to Help Clients Invest in Crypto – Regulation Bitcoin News

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A globally consistent crypto regulatory framework is urgently needed to allow banks to handle crypto assets on behalf of large customers, said a JPMorgan executive. “We need a globally consistent regulatory framework. It’s important that we get to a solution as quickly as possible.” Global Regulatory Framework Urgently Needed to Allow Banks to Offer Crypto Exposure to Clients, Says JPMorgan Debbie Toennies, managing director and head of Regulatory Affairs at global investment bank JPMorgan Chase & Co., talked about global cryptocurrency regulation applicable to banks Tuesday at an event held…

SEC Scrutinizing Crypto Exchange Binance US — Chair Gensler Stresses ‘Basic Investor Protection’ – Regulation Bitcoin News

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The U.S. Securities and Exchange Commission (SEC) is reportedly scrutinizing the U.S. arm of cryptocurrency exchange Binance over trading firms with links to Binance CEO Changpeng Zhao. SEC Chairman Gary Gensler emphasizes the need for “basic investor protection” in the crypto space. Binance US Probed by SEC The U.S. Securities and Exchange Commission (SEC) is reportedly probing the U.S. arm of the cryptocurrency exchange Binance (Binance US). The securities watchdog is examining the relationship between Binance US and two trading firms with ties to Binance CEO Changpeng Zhao (CZ), the…

President Lukashenko Signs Decree to Create Crypto Wallet Register in Belarus – Regulation Bitcoin News

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President Alexander Lukashenko has signed another decree regulating the crypto economy of Belarus. It envisages the establishment of a register for cryptocurrency wallets and addresses certain legal aspects pertaining to the circulation of cryptocurrencies in the country. Presidential Decree Aims to Prevent Use of Crypto Wallets in Criminal Activities Belarusian President Alexander Lukashenko has signed a new decree that expands his country’s regulatory framework for cryptocurrencies. The move will allow the Belarus High-Tech Park (HTP), which oversees the nation’s crypto space, to create a register for crypto wallet addresses that…

SEC Warns Against Interest-Bearing Crypto Accounts — Says They’re Riskier Than Bank Deposits – Regulation Bitcoin News

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The U.S. Securities and Exchange Commission (SEC) has warned investors about the “risks with accounts that pay interest on crypto-asset deposits.” The warning coincides with the first enforcement action the agency took against crypto lending platforms. SEC Warns About Risks in Interest-Bearing Crypto Accounts The U.S. Securities and Exchange Commission’s Office of Investor Education and Advocacy and the Division of Enforcement’s Retail Strategy Task Force announced Monday that they have jointly issued an investor bulletin “to educate investors about risks with accounts that pay interest on crypto-asset deposits.” On the…

Trudeau Invokes Emergencies Act to End Freedom Convoy Protests — Canada’s Terrorist Financing Rules Now Cover Crypto – Regulation Bitcoin News

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The Canadian government has invoked the Emergencies Act to deal with the Freedom Convoy protests, said Prime Minister Justin Trudeau. The scope of Canada’s anti-money laundering and terrorist financing rules is also broadened to cover crowdfunding platforms and “all forms of transactions, including digital assets such as cryptocurrencies.” Canadian Government Invokes Emergencies Act Canadian Prime Minister Justin Trudeau announced Monday that “the federal government has invoked the Emergencies Act to supplement provincial and territorial capacity to address the blockades and occupations.” This rarely-used act, which Trudeau is the first prime…