Tag: Regulation

Russian Crypto Industry Queries Government About Proposed Criminal Liability for Miners – Regulation Bitcoin News

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The organization representing Russia’s crypto sector has asked the government in Moscow to clarify a proposal to introduce criminal liability for “gray” miners. The draft legislation seeks to punish those who fail to report their income to the state and share information about their digital assets. Crypto Companies in Russia Want to Take Part in Ongoing Regulatory Efforts The Russian Association of Cryptoeconomics, Artificial Intelligence and Blockchain (Racib) has asked Finance Minister Anton Siluanov to explain a proposal made by his department to introduce penalties for cryptocurrency miners violating the…

US Banking Crisis Clearly Shows Risks Crypto Poses to the Financial System – Regulation Bitcoin News

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The governor of India’s central bank, the Reserve Bank of India (RBI), says the “ongoing U.S. banking crisis” clearly demonstrates the risks cryptocurrency poses to the financial system. The central bank chief added that the “Indian economy remains resilient,” emphasizing that the “worst of inflation is behind us.” India’s Central Bank Governor on Crypto Risks and U.S. Banking Crisis The governor of India’s central bank, the Reserve Bank of India (RBI), cautioned about the risks cryptocurrencies pose to the financial system while commenting on the U.S. banking turmoil at the…

Real-world assets tokenization lacks infrastructure, not just regulation

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The merger between decentralized finance (DeFi) and traditional assets has been held back by a lack of infrastructure and regulatory standards worldwide, according to sources Cointelegraph recently spoke with.  “There simply haven’t been good institutional-grade systems for these companies to get involved. Obviously, they’re not going to just run their whole system using a regular blockchain wallet and centralized exchanges,” said Colin Butler, global head of institutional capital at Polygon. Tokenization is a path to fractionalization, allowing multiple people to own a portion of an asset that would previously have…

International Operation Takes Down Crypto Mixer Chipmixer — Creator Could Face 40 Years in Prison – Regulation Bitcoin News

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An international operation has taken down Chipmixer, a cryptocurrency mixing service that allegedly laundered more than $3 billion worth of cryptocurrency, according to the U.S. Department of Justice (DOJ). The operation involved national authorities in the U.S., Germany, Belgium, Poland, and Switzerland — with Europol’s support. International Operation Takes Down Chipmixer The U.S. Department of Justice (DOJ) announced Wednesday “a coordinated international takedown of Chipmixer,” which it described as “a darknet cryptocurrency ‘mixing’ service responsible for laundering more than $3 billion worth of cryptocurrency.” Europol, which provided support for the…

Signature Bank Collapsed Because It Embraced Crypto Customers Without Sufficient Safeguards – Regulation Bitcoin News

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U.S. Senator Elizabeth Warren alleges that Signature Bank failed because it “bought into its get-rich-quick narrative” and “embraced crypto customers with insufficient safeguards.” Emphasizing that the bank took “excessive risk,” the senator demanded answers from the CEO of Signature Bank regarding “the economically disastrous outcomes you created.” Senator Elizabeth Warren’s Letter to Signature Bank’s CEO U.S. Senator Elizabeth Warren (D-MA) has attributed the failure of Signature Bank to its acceptance of crypto customers without having sufficient safeguards, Yahoo Finance reported Thursday. Signature Bank was seized by the New York State…

Court Dismisses Former Monero Developer’s Bid to Have His Extradition to South Africa Declared Illegal – Regulation Bitcoin News

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The Supreme Court of Appeal (SCA) in South Africa has rejected former Monero lead maintainer Riccardo Spagni’s bid to have it declare his extradition from the United States to South Africa illegal. In its ruling, the Supreme Court of Appeal insisted that Spagni did not sufficiently argue for the voiding of the extradition process. Spagni Challenges Extradition Process A South African court has dismissed former Monero lead developer Riccardo Spagni’s attempt to have his extradition from the United States to South Africa ruled illegal, a local report has said. In…

India, UAE Collaborate to Boost Cross-Border Central Bank Digital Currency Transactions – Regulation Bitcoin News

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India’s central bank, the Reserve Bank of India (RBI), and the Central Bank of the United Arab Emirates (UAE) have agreed to collaborate on cross-border central bank digital currency (CBDC) transactions of remittances and trade. The initiative is “expected to reduce costs, increase efficiency of cross border transactions and further the economic ties between India and UAE,” India’s central bank explained. India and UAE Collaborate on CBDCs India’s central bank, the Reserve Bank of India (RBI), announced Wednesday a collaboration with the Central Bank of the United Arab Emirates to…

ICO statement on Government response to Sir Patrick Vallance’s Pro-Innovation Regulation of Technologies Review

Today, Wednesday 15 March, the Government has published its response to Sir Patrick Vallance’s Pro-Innovation Regulation of Technologies Review. The ICO has issued the following statement: An ICO spokesperson said: “Given the opportunities that AI offers, we know we have a crucial role to play in helping innovators develop safe and trustworthy new products and services. We’ve published a wealth of guidance in this area, as well as practical support to innovators through our Regulatory Sandbox. “But in a fast moving area like AI, there is always more that can…

Egyptian Police Arrest 29 Alleged Masterminds of Crypto Mining App Scam – Regulation Bitcoin News

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The Egyptian police are reported to have recently arrested 29 individuals associated with the Hoggpool cryptocurrency mining app scam. In addition to seizing 95 mobile phones and 3,367 SIM cards, the police said domestic and foreign currency valued at $194,000 was recovered during the arrests. According to a lawyer representing over 1,000 victims, as many as 800,000 people may have fallen prey to the scam. 88 Digital Currency Wallets Used to Receive Funds From Investors Egyptian police recently arrested 29 individuals thought to be the masterminds of the Hoggpool cryptocurrency…