Tag: Regulation

Belarus Moves to Allow Investment Funds to Acquire Crypto Assets – Regulation Bitcoin News

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The crypto-friendly nation of Belarus is preparing to permit investment funds to put money into digital currencies. A proposal to do so is part of a package of necessary legal changes tailored to attract such institutions to the country. Finance Ministry Takes Steps to Facilitate Crypto Investments in Belarus Amendments aimed at luring investment funds to Belarus have been published by the Ministry of Finance for public consultations. Despite having in place a regulatory framework for collective investments, not a single fund has been registered in the country so far,…

Federal Reserve Bank of Boston and MIT Release Central Bank Digital Currency Research and Open-Source Code – Regulation Bitcoin News

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The Federal Reserve Bank of Boston and the Massachusetts Institute of Technology (MIT) have jointly published the initial findings of their central bank digital currency (CBDC) research. They also published the open-source code for the CBDC project. Boston Fed and MIT Publish Initial Findings of Their CBDC Research The Federal Reserve Bank of Boston and the Digital Currency Initiative at the Massachusetts Institute of Technology (MIT) released the initial findings of their central bank digital currency (CBDC) research on Thursday. This research is separate from the digital dollar research conducted…

Golden Gate University Establishes Blockchain Law for Social Good Center to Aid Regulation

To meet the three pillars of the community, education, research and policy when expanding the knowledge base of lawyers, lawmakers and community members about the social benefits of blockchain technology, the Golden Gate University School of Law has teamed up with Algorand Foundation to set up one of a kind centre.  According to Michele Neitz, the incoming faculty director, the facility named Blockchain Law for Social Good Center aims to eliminate regulatory scepticism by offering lawmakers a comprehensive first-hand view of the blockchain and crypto sector. She added that the…

New Proposal Could Give SEC Expansive Power to Regulate Crypto, Defi Platforms – Regulation Bitcoin News

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A commissioner with the U.S. Securities and Exchange Commission (SEC) has voiced concerns regarding a new proposal that could give the securities regulator new powers to regulate cryptocurrency platforms and decentralized finance (defi) protocols. New SEC Proposal Could Hurt the Crypto Industry, Commissioner Peirce Cautions U.S. Securities and Exchange Commission (SEC) Commissioner Hester Peirce has warned that a recent proposal could be devastating for the crypto industry, Bloomberg reported Tuesday. Peirce is a pro-bitcoin commissioner, who is also known in the crypto community as “crypto mom.” The SEC proposed amendments…

South African Regulator Urges Public to Be More Cautious When Dealing With FTX, Bybit – Regulation Bitcoin News

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The Financial Sector Conduct Authority (FSCA) has warned the investing public to be cautious when trading on the cryptocurrency platforms FTX and Bybit. The FSCA alleges that neither entity has been licensed to trade in Contracts for Difference (CFD) or to provide financial advisory and intermediary services in South Africa. FTX Not Authorized to Give Financial Advice South Africa’s financial services regulator, the FSCA, recently stated that the public must be cautious when dealing with the cryptocurrency exchange platform FTX. According to the regulator, FTX is not authorized to give…

China Designates 15 National Pilot Zones and 164 Entities for Blockchain Projects – Regulation Bitcoin News

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The Chinese government has established 15 pilot zones and 164 entities for blockchain projects. “Projects will be carried out in various fields such as manufacturing, energy, government and tax services, law, education, health, trade and finance, and cross border finance.” China Establishes Blockchain Testing Zones Sixteen Chinese governmental bodies jointly announced Sunday a list of national blockchain pilot zones “in order to further carry out the innovative application of blockchain” technology. The 16 governmental bodies include the People’s Bank of China (PBOC), the China Banking and Insurance Regulatory Commission, and…

Russians Own $215 Billion in Crypto Suggests Estimate Attributed to Government – Regulation Bitcoin News

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Russians may own more cryptocurrency than previously thought, a new estimate reportedly used by the government has indicated. The quoted figure amounts to over a tenth of the global holdings and may serve as an impetus for the government to regulate Russia’s crypto market rather than outlaw it. Estimated 12% of Crypto Allegedly Held by Russians Russian citizens own cryptocurrencies worth over 16.5 trillion rubles (around $215 billion), according to an estimate referred to by authorities in Moscow, Bloomberg reported. The figure has surfaced as government institutions are trying to…

India Confirms ‘It’s Not Illegal to Buy or Sell Crypto’ — Government Will Consult Widely on Crypto Regulation – Regulation Bitcoin News

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India’s finance secretary has confirmed that it is not illegal to buy or sell crypto assets in India. Regarding cryptocurrency regulation, “the government’s approach is to consult widely and also to look at what’s happening internationally,” he explained. Crypto Is Not Illegal in India, Official Confirms Following the announcement on cryptocurrency taxation by Indian Finance Minister Nirmala Sitharaman, Finance Secretary T. V. Somanathan clarified that crypto is not illegal in India. He was asked on Bloomberg Television Wednesday whether the proposed taxation means cryptocurrency will be legalized in India. “Crypto…

India Announces Upcoming Launch of Central Bank Digital Currency, Digital Rupee, to Be Issued by RBI – Regulation Bitcoin News

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The Indian government has announced the upcoming launch of the country’s central bank digital currency. The digital rupee will be issued by the Reserve Bank of India (RBI) in the financial year 2022-23, Indian Finance Minister Nirmala Sitharaman said during her budget speech. RBI’s Digital Currency, the Digital Rupee, Coming Soon India’s finance minister, Nirmala Sitharaman, announced Tuesday while presenting the federal budget 2022 in Parliament that the Reserve Bank of India (RBI) will issue a central bank digital currency (CBDC) in the new financial year. Noting that the “Introduction…

El Salvador Rejects IMF Call to Abandon Bitcoin as Legal Tender – Regulation Bitcoin News

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El Salvador has rejected the recommendation by the International Monetary Fund (IMF) to drop bitcoin as legal tender. The country’s finance minister reportedly “angrily” said, “No international organization is going to make us do anything, anything at all.” El Salvador Says No to IMF on Bitcoin The government of El Salvador has rejected a recommendation by the International Monetary Fund (IMF) to drop bitcoin as legal tender in the country. The IMF urged El Salvador last week to drop bitcoin’s use as legal tender and dissolve Fidebitcoin, the $150 million…