Tag: Regulation

EU Parliament Greenlights Markets in Crypto Assets Law, Tracing Rules – Regulation Bitcoin News

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Members of the European Parliament gave their final approval to a package of EU-wide regulations for crypto assets. The legislators also backed the introduction of mechanisms allowing the tracing of cryptocurrency transactions which will also apply to private crypto wallets above a certain threshold. European Lawmakers Endorse Groundbreaking Crypto Assets Legislation Europe’s new common rules for the crypto space were given the final green light by the European Union’s legislature. The set, known as Markets in Crypto Assets (MiCA), was passed with 517 votes in favor, 38 against, and 18…

Terraform Labs Co-Founder Do Kwon Charged by Montenegro Prosecutors – Regulation Bitcoin News

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Nearly a month after Do Kwon’s arrest by Montenegro law enforcement, local prosecutors have now indicted the co-founder and CEO of Terraform Labs. The decision to indict Kwon is likely to delay attempts to extradite him to South Korea and the United States where he faces several charges. Local prosecutors have reportedly asked a court to extend Kwon and his associate’s detention. Kwon’s Hideout Seized by Local Law Enforcement Prosecutors in Montenegro have reportedly hit Terraform Labs co-founder and CEO Do Kwon with charges of using a fake passport and…

SEC’s ‘brute force’ crypto regulation attempt is ‘bad policy’ — Paradigm

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Criticisms of the United States Securities and Exchange Commission (SEC) are mounting as the agency remains unrelenting in its war on crypto. On April 21, Web3 venture capital firm Paradigm published a policy piece on the problems with SEC registration. It claimed that SEC chair Gary Gensler’s “attempt to brute force crypto assets that may not even constitute ‘securities’ into an ill-fitting disclosure framework is bad policy.” The firm, which invests hundreds of millions into crypto and Web3 startups, said the SEC fails to provide crypto asset users and investors…

The European Parliament Has Voted for the EU’s Landmark MiCA Regulation and Anti-Money Laundering Transfer of Funds Rules

The Markets in Crypto Assets regulation was first proposed by the European Commission in 2020, and to pass into law has to be approved by the parliament and the EU’s Council, which represents the bloc’s member states. Its main provisions start to apply just over 12 months after publication in the EU’s official journal, likely in June. Source

Ether’s Security Status Remains Unclear as SEC Chair Gensler Fails to Answer Lawmaker’s Question – Regulation Bitcoin News

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The chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, would not answer a direct question in a congressional hearing about whether ether is a security. While the SEC chair insisted that the law is clear on crypto, Congressman Patrick McHenry argued that the SEC’s regulatory actions say “there’s a great deal of uncertainty.” Lawmaker Probes SEC Chair Gary Gensler on Whether Ether Is a Security The chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, testified on Tuesday before the House Financial Services Committee on…

Lack of stablecoin regulation could push issuers out of US: Austin Campbell

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United States lawmakers discussed the role of stablecoins in a committee hearing, but some experts expressed concern about the country’s regulatory environment. In an April 19 hearing of the U.S. Subcommittee on Digital Assets, Financial Technology and Inclusion, Austin Campbell, an adjunct assistant professor at the Columbia Business School, said areas including Singapore, Dubai, Abu Dhabi, and the United Kingdom have already proposed frameworks for stablecoins that could offer a competitive regulatory environment for issuers looking for a home. “If you look around the world, you’re starting to see legislation that…

Arkansas embraces bitcoin mining regulation

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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Arkansas has recently passed the Arkansas Data Centers Act of 2023, a bill to regulate bitcoin (BTC) mining within the state.  The legislation, now awaiting the governor’s approval, aims to create guidelines for miners, protect them from discriminatory regulations and taxes, and acknowledge the positive economic impact of data centers on local communities.  The move follows a similar initiative in Montana and contrasts sharply with New York’s recent crypto-mining ban. The Arkansas Data Centers Act of…

US Lawmaker Introducing Legislation to Remove SEC Chairman Due to ‘Long Series of Abuses’ – Regulation Bitcoin News

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A U.S. lawmaker has announced that he is introducing legislation to remove the Securities and Exchange Commission (SEC) chairman in order to “correct a long series of abuses.” The SEC, under Chair Gary Gensler, has been heavily criticized for its enforcement-centric approach to regulating the crypto industry. Lawmaker Seeks to Remove SEC’s Chairman U.S. Congressman Warren Davidson (R-OH) has revealed that he is introducing legislation to remove the chairman of the U.S. Securities and Exchange Commission (SEC). The lawmaker from Ohio tweeted Friday: To correct a long series of abuses,…

UK may have crypto regulation within a year, says senior minister

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The United Kingdom could lay out digital asset regulation within 12 months a British lawmaker claimed, saying the country wants to capitalize on the benefits that blockchain can bring to the private sector and economy. In an April 17 CNBC interview, Andrew Griffith, the economic secretary to the U.K. Treasury said the long-term vision is to “let firms make the most of the opportunities from crypto assets” with sound crypto regulation. For the first time in “decades,” Griffith claimed the U.K. government is now well-positioned to regulate crypto in a…