Tag: Regulation

EU MiCA crypto regulation is a ‘balancing act’: Paris Blockchain Week 2023

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Regulators and industry players highlighted a number of implications and potential impacts of the European Union’s Markets in Crypto-Assets (MiCA) regulation at the Paris Blockchain Week 2023. A panel titled ‘MiCA: How is the EU Regulating Crypto?’ delved into the proposed MiCA regulation which is expected to take effect in 2024. The 400-page regulatory guideline for cryptocurrencies and digital assets has been a major talking point across the continent. Unpacking MiCA and its implications – a panel discussion featuring industry experts and regulators at Paris Blockchain Week 2023.  Gundars Ostrovskis…

Crypto Ads in Belgium to Feature ‘Punchy Warning’ of Risks, New Rules Imply – Regulation Bitcoin News

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The financial regulatory body of Belgium has been tasked by the government to regulate advertisements for cryptocurrencies. New rules, set to enter into force in May, oblige advertisers to clearly warn investors of the risks associated with the digital assets. Belgium Poised to Protect Consumers From Misleading Crypto Advertisements Belgium’s Financial Services and Markets Authority (FSMA) has been granted powers to strictly regulate crypto-themed advertising. The new rules, which will be applied in less than two months, are meant to ensure that the risks linked to virtual currencies are “sufficiently…

Taiwan’s Financial Supervisory Commission Set to Regulate Country’s Virtual Assets Industry – Regulation Bitcoin News

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Taiwan’s Financial Supervisory Commission is set to be announced as the body that will oversee and regulate the virtual asset industry. According to a report, the collapse of crypto exchanges like FTX prompted Taiwanese officials to seek ways of protecting users against similar events should they recur. Virtual Asset Industry’s Self-Regulation According to Taiwanese government officials, the country’s financial sector regulator — the Financial Supervisory Commission (FSC) — is set to become the body overseeing and regulating the country’s virtual currency industry. As per a CNA report, an announcement to…

Belgian FSMA surveys crypto investors before taking on new ad regulation authority

The Belgian Financial Services and Markets Authority (FSMA) will have new powers to supervise virtual currency advertising when a new regulation comes into force on May 17. In preparation for its new role, the agency commissioned a survey of investors. The new regulation will have three aspects. First, it will require accuracy and clear language, with no statements on future returns of value. Second, there will be a mandatory warning on all advertising: “Virtual currencies, real risks. The only guarantee in crypto is risk.” In addition, a “broader warning should…

Financial Supervisory Commission to Head Crypto Regulation in Taiwan

Speaking to the parliament, Chairman Huang pointed out that the Financial Supervisory Commission was working on a crypto regulatory framework. The Financial Supervisory Commission of Taiwan (FSC) has announced that it will now be the primary regulatory body for cryptocurrencies in Taiwan. Some lawmakers had called for the Ministry of Digital Affairs (MODA) as the chief crypto regulator. However, FSC made it known in a statement by its chairman, Huang Tien-mu while addressing the Taiwan parliament. Taiwan has two financial regulators: the FSC and the Central Bank of the Republic…

Taiwan watchdog FSC to assume authority on crypto regulation

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The Financial Supervisory Commission of Taiwan (FSC) will become the primary regulator of cryptocurrencies in the island country, according to the head of the authority. FSC chairman Huang Tien-mu has announced that the regulator will assume supervisory authority over the crypto industry in Taiwan, the local United Daily News reported. Huang addressed Taiwan’s parliament, the Legislative Yuan, on March 20 regarding the regulation of cryptocurrencies in the Republic of China (ROC). He pointed out that the FSC’s upcoming crypto regulatory framework will include major rules and policies, including the separation…

Midsize US Banks Ask Regulators to Extend FDIC Insurance to All Deposits for 2 Years Before Another Bank Fails – Regulation Bitcoin News

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The Mid-Size Bank Coalition of America has asked federal regulators to extend FDIC insurance to cover all deposits for the next two years. “Doing so will immediately halt the exodus of deposits from smaller banks, stabilize the banking sector and greatly reduce chances of more bank failures,” the group claimed. “It is imperative we restore confidence among depositors before another bank fails, avoiding panic and a further crisis.” Preventing ‘Panic and Further Crisis’ The Mid-Size Bank Coalition of America (MBCA) has reportedly asked federal regulators to extend Federal Deposit Insurance…

Dutch Financial Regulator Vows Strict Treatment of Crypto Business Under MiCA – Regulation Bitcoin News

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The financial regulatory body of the Netherlands intends to maintain tough attitude towards the Dutch digital assets sector despite looser European rules. The head of the agency overseeing the industry doesn’t think crypto is good news and highlights its flaws in an article. Head of Dutch Financial Authority Says Cryptos Are Difficult to Fathom, Vulnerable to Fraud Most countries in the West are “tightening the reins” on crypto but a total ban is “difficult to imagine”, the Chair of the Dutch Authority for the Financial Markets (AFM), Laura van Geest,…

Peter Schiff blames ‘too much gov’t regulation’ for worsening financial crisis

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The recent fall of major banks in the United States and the need for federal intervention reignited discussions to identify the most effective ways to safeguard the crumbling economies. Comparing the episode to the financial crisis of 2008, prominent economist Peter Schiff found that increasing banking regulations contribute to the worsening financial crisis. A deeper analysis of Silicon Valley Bank (SVB) by a group of economists revealed that nearly 190 banks in the United States are at risk of a depositor-driven collapse. It was highlighted that the monetary policies penned…

Chair of EU Parliament’s Committee on Budgets Calls for Crypto Ban Amid Banking Turmoil – Regulation Bitcoin News

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A European lawmaker has urged authorities to impose a ban on cryptocurrencies citing the current crisis in the banking sector as a reason. Johan Van Overtveldt, former finance minister of Belgium, believes these assets bring no economic or social value. Belgium’s Ex-Finance Minister Suggests Ban on Decentralized Digital Currencies Member of the European Parliament, Johan Van Overtveldt, has insisted that governments should prohibit cryptocurrencies like bitcoin. His call comes amid a crisis sparked by the failure of several banking institutions, including two crypto-friendly banks in the U.S. “Another lesson to…