Tag: Regulation

Coinbase Obtains Regulatory Approval to Provide Crypto Services in Italy – Regulation Bitcoin News

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Nasdaq-listed cryptocurrency exchange Coinbase has obtained regulatory approval to offer crypto services in Italy. “Coinbase is committed to bringing the power of our full product suite to customers across Europe,” the company said. Coinbase Approved in Italy Cryptocurrency exchange Coinbase (Nasdaq: COIN) announced Monday that it has secured regulatory approval to provide crypto services in Italy. The company’s vice president of International and Business Development, Nana Murugesan, explained in a blog post: Today, we’re able to announce a key milestone … securing approval from Italian regulators to provide ongoing crypto…

US Senator Says Too Many Crypto Firms Are Able to Scam Customers — Urges SEC to Regulate – Regulation Bitcoin News

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U.S. Senator Elizabeth Warren says that “too many crypto firms have been able to scam customers and leave ordinary investors holding the bag while insiders make off with their money.” She stressed the need for stronger rules, urging the Securities and Exchange Commission (SEC) and Congress to take action on crypto regulation. U.S. Senator Says Crypto Needs Stronger Regulation U.S. Senator Elizabeth Warren (D-MA) voiced her concerns about cryptocurrency investing in an interview with Yahoo Finance Live last week after several crypto firms filed for bankruptcy protection. Calling on the…

Dutch Central Bank Fines Crypto Exchange Binance $3.4 Million Citing ‘Very Serious’ Violations – Regulation Bitcoin News

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The Dutch central bank has fined cryptocurrency exchange Binance 3.325 million euros for offering crypto services in the Netherlands without the legally required registration. Binance has appealed against the fine and has now submitted an application to register with the central bank. Binance Fined by Dutch Regulator The Dutch central bank, De Nederlandsche Bank (DNB), revealed Monday that it has fined Binance Holdings Ltd. for offering crypto services without registration as required by law. The administrative fine of 3.325 million euros ($3.4 million) was imposed on the cryptocurrency exchange on…

South African Court Releases Former Monero Developer Riccardo Spagni From Custody – Regulation Bitcoin News

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A South African regional court recently ruled to release former Monero lead maintainer, Riccardo Spagni, from custody. The ruling came just a few days after his arrest by local law enforcement agents, a report has said. Prior to his release, Spagni aka Fluffypony told the court he had returned to South Africa voluntarily and that he was not a flight risk. US Judge Grants Motion for Spagni’s Extradition A South African regional court magistrate recently ruled to release fraud-accused former Monero lead developer, Riccardo Spagni, from custody on a warning,…

US and UK to Deepen Ties on Crypto Regulation, Says British Regulator – Regulation Bitcoin News

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Britain’s top financial regulator, the Financial Conduct Authority (FCA), says the U.S. and U.K. will deepen ties on crypto regulation. “In the past, innovative firms would have been pleading for less regulation. Now they understand and appreciate that rules are there to help provide certainty,” said the British regulator. US and US to Strengthen Collaboration on Crypto Regulation The U.K. Financial Conduct Authority’s chief executive, Nikhil Rathi, outlined the FCA’s regulatory goals Wednesday at Peterson Institute for International Economics. “One area of global focus is crypto, both opportunities and risks,”…

Gary Gensler Outlines What to Expect From SEC on US Crypto Regulation – Regulation Bitcoin News

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The chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, has outlined what to expect from the securities watchdog on crypto regulation. “We do have robust authorities from Congress also to use our exemptive authorities that we can tailor investor protection,” he explained. Chair Gensler Highlights SEC’s Work on Crypto Regulation SEC Chairman Gary Gensler outlined what to expect from his agency on U.S. crypto regulation Thursday in an interview with Yahoo Finance Live. He was asked, “What can we expect from the SEC in the coming months…

Paraguayan Senate Approves Cryptocurrency Bill – Regulation Bitcoin News

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The Paraguayan Senate has approved a bill that seeks to regulate cryptocurrencies and their operations in the country. The bill, which had already been submitted to the deputy chamber, was approved with some changes suggested, establishing clear definitions and tax exemptions for companies in the cryptocurrency and crypto mining sectors. Paraguayan Cryptocurrency Bill Passes Senate Discussion Countries in Latam are seeking to standardize and regulate cryptocurrency to bring more clarity to investors dedicated to the industry in the area. On July 14, the Paraguayan senate greenlighted a cryptocurrency…

South African Crypto Investors and Service Providers Told of Legal and Tax Implications of Central Bank’s Plan – Regulation Bitcoin News

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South African tax consultancy firm Tax Consulting SA, has said the recent announcement by the central bank — that will start to regulate cryptocurrency in 12 to 18 months — has legal and tax implications for both crypto investors and organizations providing intermediary services. The firm, however, says the South African Reserve Bank (SARB) “will not interfere in the investment decisions made by crypto investors.” Intermediaries Must Register as Financial Services Providers According to a South African tax consultancy firm, Tax Consulting SA, recent revelations by the central bank deputy…

Sri Lanka’s Central Bank Warns About Crypto Amid Severe Economic, Political Crisis – Regulation Bitcoin News

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Sri Lanka’s central bank issued a warning regarding the use of cryptocurrencies amid a devastating economic and political crisis. The central bank stressed that it “has not given any license or authorization to any entity or company to operate schemes” involving cryptocurrencies. Sri Lanka’s Central Bank Issues Notice About Cryptocurrency The Central Bank of Sri Lanka (CBSL) published a notice about cryptocurrency Tuesday titled “Public Awareness in Relation to the Use of Virtual Currencies in Sri Lanka.” The notice cites “recent development in relation to virtual currency usage in the…

India Calls on G20 to Bring Crypto Within Global ‘Automatic Exchange of Information’ Framework – Regulation Bitcoin News

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India’s finance minister has called on the G20 countries to bring crypto within the “Automatic Exchange of Information” framework. More than 100 countries have adopted the Common Reporting Standard under the framework. G20 Urged to Bring Crypto Under Automatic Exchange of Information India’s finance minister, Nirmala Sitharaman, talked about cryptocurrency Friday during the G20 Ministerial Symposium on Tax and Development in Bali, Indonesia. Noting that “tax transparency” is an area where “considerable progress has been made with the Automatic Exchange of Information in respect of financial accounts,” she described: “Our…