Tag: Regulation

Over 200 Jurisdictions Agree on Timely Implementation of FATF Crypto Standards – Regulation Bitcoin News

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The Financial Action Task Force (FATF) says delegates from over 200 jurisdictions have agreed on “an action plan to drive timely global implementation of FATF standards” on crypto assets. The standard-setting body said many countries have failed to implement its previous requirements on crypto, including the “travel rule.” Countries Agree to Implement FATF Crypto Standards The Financial Action Task Force (FATF), an intergovernmental organization established to combat money laundering and the financing of terrorism, announced Friday the outcome of its plenary which took place on Feb. 22-24. “Delegates from over…

IMF Calls for ‘More’ Crypto Regulation — Says Banning Should Be an Option – Regulation Bitcoin News

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International Monetary Fund (IMF) Managing Director Kristalina Georgieva says crypto needs “more regulation.” She added, “We should not take off the table banning those assets,” if regulation fails or is too slow to implement. IMF’s Chief Calls for More Crypto Regulation IMF Managing Director Kristalina Georgieva talked about crypto regulation Saturday on the sidelines of G20 meetings for finance ministers and central bank governors under India’s presidency in Bengaluru. Commenting on crypto oversight, she told reporters: There has to be more regulation. Her statement followed a roundtable discussion she co-chaired…

IMF Board Offers Guidance for Developing Effective Crypto Policies – Regulation Bitcoin News

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The executive board of the International Monetary Fund (IMF) has provided guidance for member countries to develop effective crypto policies. The board stressed the need to develop comprehensive crypto regulations to “better mitigate the risks posed by crypto assets while also harnessing the potential benefits of the technological innovation.” IMF Executive Board Provides Guidance on Crypto Regulation The International Monetary Fund (IMF) announced on Thursday the outcome of a discussion held by its executive board directors on a paper titled “Elements of Effective Policies for Crypto Assets.” Noting that the…

US Regulators and Federal Reserve Issue Joint Warning About Crypto Liquidity Risks – Regulation Bitcoin News

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U.S. regulators and the Federal Reserve have issued a joint warning about key liquidity risks associated with crypto assets. However, the regulators clarified that banks “are neither prohibited nor discouraged from providing banking services to customers of any specific class or type, as permitted by law or regulation.” US Regulators Issue Joint Statement on Crypto The Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation (FDIC), and the Office of the Comptroller of the Currency (OCC) jointly issued a statement regarding crypto on Thursday. The Federal…

Change lies ahead for haphazard crypto regulation

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The World Wide Web, as its name implies, is borderless, and so is crypto. The internet and cryptocurrency’s common ethos is wide-open communication and exchange, unimpeded by national boundaries. On the ground, however, as crypto has become a more significant player in the financial system, nations have begun to consider issues of sovereignty and regulation. While many countries have so far remained open to crypto, others have restricted its use or outright banned it. The same reason that some have advocated for crypto and blockchain technology — as a means…

Global Crypto Regulation Progresses Whilst US Remain Stringent – Blockchain News, Opinion, TV and Jobs

By Marcus Sotiriou, Market Analyst at the publicly listed digital asset broker GlobalBlock (TSXV:BLOK). As Bitcoin consolidates around $24,000, there have been progressive advancements with crypto regulation globally. Firstly, global payments giant Ingenico, who has 40 million terminals in 37 countries, now accepts crypto payments in France as it integrates a digital asset platform. Furthermore, private Bitcoin wallets will not be banned by the EU’s new anti-money laundering bill, so people will be allowed to legally participate in self-custody in the EU – a big win for crypto enthusiasts and digital asset platforms…

US Lawmaker Launches CBDC Anti-Surveillance State Act to Protect Americans’ Right to Financial Privacy – Regulation Bitcoin News

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U.S. Congressman Tom Emmer has introduced the Central Bank Digital Currency (CBDC) Anti-Surveillance State Act “to halt efforts of unelected bureaucrats” from “stripping Americans of their right to financial privacy.” The bill also prohibits the Federal Reserve “from issuing a CBDC directly to anyone.” CBDC Anti-Surveillance State Act Introduced U.S. Congressman Tom Emmer (R-MN) announced Tuesday that he has introduced the Central Bank Digital Currency (CBDC) Anti-Surveillance State Act in the House of Representatives. The recently elected House Majority Whip tweeted: Today, I introduced the CBDC Anti-Surveillance State Act to…

New York Attorney General Sues Crypto Exchange Coinex — Claims Trading Platform Offers Unregistered Securities – Regulation Bitcoin News

New York Attorney General Letitia James has sued cryptocurrency exchange Coinex “for failing to register as a securities and commodities broker-dealer and for falsely representing itself as a crypto exchange.” The NY attorney general also stressed that Coinex is not registered with the U.S. Securities and Exchange Commission (SEC) even though the platform lets users trade crypto tokens that are allegedly securities. Coinex Violates New York Law, Says NYAG Letitia James The office of New York Attorney General (NYAG) Letitia James announced Wednesday that the attorney general has sued cryptocurrency…

Regulation stole the show at Barcelona’s European Blockchain Convention

Some 2,500 crypto-curious blockchain believers descended on Barcelona’s Hyatt Tower conference suites last week in a networking bonanza. The 8th edition of the European Blockchain Convention, and the fourth occurrence in Barcelona, also coincided with Bitcoin (BTC) sitting tight below $25,000. Despite an over 60% crypto drawdown, the conference was packed, and reportedly 2,500 attendees from banks, blockchain companies and crypto drank in the sights and sounds of the cosmopolitan capital of Spain’s Catalonia region. Nonetheless, the crypto scars of 2022 are still tender and raw; many attendees raised real concerns…

Indian Finance Minister Pushes for International Cooperation on Crypto Regulation — Discusses Awareness Campaign – Regulation Bitcoin News

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Indian Finance Minister Nirmala Sitharaman has stressed the importance of international cooperation in order to regulate the crypto sector. She also confirmed that Indian regulators’ crypto awareness campaign will continue to alert people about the risks of investing in crypto. Indian Finance Minister on Crypto Regulation, Bill, and Awareness Campaign India’s finance minister, Nirmala Sitharaman, answered some questions about crypto during a press conference on Monday. She said: In India, crypto is on the agenda of G20. This is because we think technology-driven crypto asset creation and buying and selling…