“The FCA has implemented new rules for crypto firms. As a result, all compliant crypto firms with U.K. customers are making a number of changes to their platforms in order to comply with the new regulations,” Taylor said. “For Luno, this includes pausing the ability to invest through the platform for some customers for the time being.” Source
The leaders of the G20 nations have thrown their weight behind the Financial Stability Board’s (FSB) recommendations regarding the regulation of crypto. In a landmark move, the G2O intergovernmental forum, on Sept. 9, voiced its support for a slew of recommendations prepared by the FSB to regulate and oversee the global crypto industry. The announcement, made by Indian Finance Minister Nirmala Sitharaman, came at the New Delhi Leaders’ Meeting, where G20 members expressed their intent to monitor the fast-paced changes in the digital finance space. 🚨 BREAKING: 🇮🇳 India’s Finance…
Two senators unveiled a bipartisan blueprint for artificial intelligence (AI) legislation on Friday, Sep. 8, as Congress intensifies its endeavors to regulate this emerging technology. The plan put forward by Senators Richard Blumenthal (D-Conn.) and Josh Hawley (R-Mo.) advocates for mandatory licensing for AI firms and makes it clear that technology liability protections will not shield these companies from legal actions. In a statement on X (formerly known as Twitter), Blumenthal expressed that this bipartisan framework represents a significant step forward—a robust and comprehensive legislative plan for concrete and enforceable…
After holding a roundtable to gather ideas, she said, the agency should set up a “program for a specific period of time that incorporates many of the components drawn from past pilot programs, including: registration and eligibility requirements, financial resources and other conditions, risk management, products and contract terms, and other requirements including disclosures and reporting.” Source
A group of Nigerian professionals in digital assets took to the stage at the Stakeholders in Blockchain Technology Association of Nigeria (SIBAN)’s Digital Assets Summit 2023, held in Abuja, the nation’s capital, to discuss the future of digital assets in Nigeria in regards to regulation. In the panel titled “The Future of Digital Assets: Regulatory Uncertainty and the Way Forward,” the group discussed why the implementation of digital assets regulation and blockchain policy has been slow in Nigeria. The developmental regulation created by NITDA is a big step towards understanding…
The recent indictment of Tornado Cash developers brings the tension between crypto privacy and national security into sharp focus. What are the implications for the crypto world? One of the main issues affecting innovation is the potential for abuse by bad actors. Because of its pseudonymous nature, low cost, and ability to move vast sums, crypto has had its fair share of cases of misuse. Looking at the recent fiasco of Tornado Cash founders and the regulators, one could think that criminals are tipping the scales in the regulator’s favor. …
Ethereum co-founder Vitalik Buterin has published a research paper diving into privacy pool systems as a tool to achieve more privacy in financial transactions, allowing users to prove dissociation from illicit funds through zero-knowledge-proof technology. The document initially discusses one of the most popular privacy-enhancing protocols, Tornado Cash, which allows users to deposit and withdraw cryptocurrencies without creating an identifiable link between the two addresses. Recently, United States authorities filed criminal charges against its founders, alleging extensive use by bad actors. “The critical issue with Tornado Cash was essentially that legitimate users…
Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Republican Representatives claim the Federal Reserve is undermining Congress’s efforts to regulate stablecoins, potentially deterring banks from entering the digital asset space. Three Republican lawmakers—Representatives French Hill, Bill Huizenga, and Patrick T. McHenry—have written to Federal Reserve Chair Jerome Powell, accusing the central bank of hindering Congress’s efforts to regulate stablecoins. The trio claims that the Federal Reserve’s recent supervisory letters could dissuade banks from engaging with digital assets. These letters were issued shortly after the…
Spain became one of the first countries in the European Union to establish its own task force for regulating Artificial Intelligence (AI). The Spanish Agency for the Supervision of Artificial Intelligence (AESIA) should guarantee, along with the national digital strategy, that the AI development in the country will be “inclusive, sustainable, and citizen-centered.” On Aug. 22, the Council of Ministers approved a Royal Decree, establishing the AESIA. The Agency will be formed by joint efforts of the Spanish Ministry of Finance and Civil Service and the Ministry of Economic Affairs…
On Episode 27 of Hashing It Out, CoinRoutes CEO Dave Weisberger joins host Elisha Owusu Akyaw (also known as GhCryptoGuy) to discuss the current state of cryptocurrency regulation in the United States. Weisberger explains how the U.S. Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) approach regulations and what they mean for the fast-evolving cryptocurrency space. Weisberger addresses the state of regulation at the start of the podcast. According to him, the problem in the United States stems from a lack of clear regulations and rules, leading…