Tag: Regulation

US Senators Press Meta CEO Mark Zuckerberg on Crypto Scam Policies for Facebook, Instagram, Whatsapp – Regulation Bitcoin News

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Six U.S. senators have demanded answers from Meta CEO Mark Zuckerberg about how his company is handling cryptocurrency scams on its social media platforms, including Facebook, Instagram, and Whatsapp. “We are concerned that Meta provides a breeding ground for cryptocurrency fraud that causes significant harm to consumers,” the lawmakers wrote. Senators Want Answers From Mark Zuckerberg and Meta Platforms U.S. Senators Robert Menendez, Sherrod Brown, Elizabeth Warren, Dianne Feinstein, Bernard Sanders, and Cory A. Booker jointly sent a letter on Thursday to Mark Zuckerberg, chairman and CEO of Meta, about…

Indian Finance Minister Urges IMF to Lead in Regulating Crypto — Georgieva Says IMF Ready to Work With India – Regulation Bitcoin News

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India’s finance minister, Nirmala Sitharaman, has urged the International Monetary Fund (IMF) to take “a lead role” in regulating crypto assets. IMF Managing Director Kristalina Georgieva says the global organization stands ready to work with India on climate change, crypto regulation, and other global challenges of our times. India Wants IMF to Lead in Crypto Regulation Indian Finance Minister Nirmala Sitharaman met with Kristalina Georgieva, the managing director and chairman of the executive board of the International Monetary Fund (IMF), in New Delhi on Wednesday. The two discussed a wide…

Argentine Tax Authority AFIP Strengthens Supervision, Finds Three Clandestine Cryptocurrency Mining Farms – Regulation Bitcoin News

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The Argentine tax authority (AFIP) found three different clandestine cryptocurrency mining farms last week. The farms were located in San Juan and in the city of Cordoba. More than $600,000 in hardware was found at just one of these locations, and the high level of power consumed helped the institution track these farms. Argentine Tax Authority Detects Three Different Clandestine Crypto Mining Farms The Argentine tax authority (AFIP) has put its eyes on the business of illegal cryptocurrency mining and has already detected three clandestine cryptocurrency farms in…

Thai Regulator Accuses Digital Asset Service Provider of Failing to Comply With Information Request – Matter Referred to Law Enforcement – Regulation Bitcoin News

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Thailand’s securities regulator recently said it had referred digital asset service provider Zipmex and its Thai unit chief executive officer, Akalarp Yimwilai, to a technology crime division of the Royal Thai Police. The regulator said it made decision after Yimwilai and his company failed to comply with the request to furnish an official with information relating to customers’ digital wallets. Zipmex Fails to Share Details on Transfers and Withdrawals on Its Platform Thailand’s Securities and Exchange Commission (TSEC) said it has referred Zipmex and the digital asset service provider’s Thai…

Top Russian Lawmaker Joins Calls for Legalizing International Crypto Payments – Regulation Bitcoin News

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A high-ranking member of the Russian parliament has urged for the adoption of a relevant legal framework to properly regulate cross-border crypto payments. His proposal comes after key regulators in Moscow said that Russia needs to allow the use of cryptocurrencies in foreign trade, now that it’s having to deal with serious financial restrictions. Financial Market Committee Chair Suggests Adopting Legislation for Russia’s Crypto Payments Anatoly Aksakov, head of the Financial Market Committee at the State Duma, considers it necessary to provide cross-border settlements in cryptocurrency with a regulatory framework.…

Legal Experts Say Nigeria in Need of ‘Clear-Cut Guidelines’ for Crypto Industry – Regulation Bitcoin News

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Authorities in Nigeria have been told to consider upgrading the country’s cryptocurrency regulatory guidelines because current regulations are not consistent with the realities on the ground. According to legal experts, the growing interest in cryptocurrencies by Nigerians means the country needs to have “clear-cut guidelines” for the industry. Nigerians Continue to Defy Central Bank Legal experts who spoke at a two-day workshop recently held in Nigeria have urged authorities to consider upgrading the country’s cryptocurrency regulatory guidelines. The experts argued that such an upgrade is needed because Nigerians have largely…

Judge in MTI Liquidation Case Issues Order Designating Bitcoin an Intangible Asset – Regulation Bitcoin News

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A judge in the collapsed online bitcoin trading platform Mirror Trading International’s liquidation case has issued a provisional liquidation order that outlines the criteria to be used when reimbursing investors. The order also reportedly directs the liquidators to regard bitcoin “as [an] intangible asset that constitute[s] property.” Claims for Reimbursement Must Be Submitted in Local Currency A South African High Court judge recently granted an order outlining the criteria that liquidators of Mirror Trading International (MTI) — the collapsed bitcoin Ponzi scheme — should use when distributing recovered funds to…

Saudi Arabia’s Central Bank Hires Virtual Assets and Digital Currency Program Lead – Regulation Bitcoin News

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The Saudi Arabian central bank has reportedly appointed Mohsen Al Zahrani as the lead of the bank’s virtual assets and digital currency project. The emergence of the United Arab Emirates (UAE) as the regional crypto hub is believed to have forced authorities in Saudi Arabia to consider formally regulating cryptocurrencies. Saudi Arabia’s Changing Position on Crypto According to a report, the Saudi Arabian central bank has selected Mohsen Al Zahrani to lead its virtual assets and digital currency program. The appointment of Al Zahrani, according to the report, signals that…

Crypto Assets Become More Mainstream as Hedges Against Weak Currencies, Potential Payment Instruments – Regulation Bitcoin News

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The International Monetary Fund (IMF) published a report stating that crypto assets have gained a “more mainstream presence as speculative investments, hedges against weak currencies, and potential payment instruments.” The IMF has called for a global response to crypto regulation that is coordinated, consistent, and comprehensive. IMF Officials on Crypto Regulation, Mainstream Adoption The International Monetary Fund (IMF) published a report titled “Regulating Crypto: The right rules could provide a safe space for innovation” in the September edition of its flagship Finance & Development magazine. The report is authored by…

What New UK Prime Minister Liz Truss Says About Cryptocurrencies – Regulation Bitcoin News

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Liz Truss, Britain’s new prime minister, previously said: “We should welcome cryptocurrencies in a way that doesn’t constrain their potential.” Truss beat former Chancellor of the Exchequer Rishi Sunak, who had a plan to make the U.K. a crypto-friendly nation. Liz Truss Becomes Britain’s New Prime Minister Liz Truss has won the race to become the new U.K. prime minister, beating former Chancellor of the Exchequer Rishi Sunak. The Foreign minister has won the Conservative Party leadership and will be taking over from Boris Johnson. On Tuesday, Johnson will travel…