Tag: Regulation

EU Agreement Reached on Anti-money Laundering Rules for Cryptocurrencies – Regulation Bitcoin News

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European institutions have reached an interim consensus on a set of EU regulations that will burden crypto companies with the obligation to help prevent money laundering, among other illicit activities potentially involving digital assets. The progress comes as the Union seeks to comprehensively regulate the continent’s cryptocurrency market. EU Officials and Lawmakers Agree on AML Measures in Crypto Space Negotiators representing the key participants in the EU’s decision-making process have reached an agreement on anti-money laundering (AML) rules that will require businesses in the crypto industry to verify the identities…

Russia’s Financial Watchdog Investigates 400 Crypto-Related Cases, Director Tells Putin – Regulation Bitcoin News

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Rosfinmonitoring is conducting hundreds of investigations into cases involving cryptocurrencies, the head of the agency announced. Hundreds of thousands of Russians take part in crypto deals abroad, the top regulator also reported to the Russian president. Russian Authorities Initiate 20 Criminal Cases Linked to Crypto Assets The Federal Financial Monitoring Service of the Russian Federation, also known as Rosfinmonitoring, is trying to unravel around 400 cases in which cryptocurrencies are involved. The agency’s director, Yury Chikhanchin, revealed the number during a meeting with President Vladimir Putin. The financial watchdog is…

Uzbekistan Presents Registration Requirements for Cryptocurrency Miners – Regulation Bitcoin News

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Authorities in Uzbekistan have drafted and put forward for public consultations a set of rules for crypto miners operating in the country. Companies that want to mint digital currencies will have to register with the government and use renewable energy. Uzbekistan Discusses Draft Regulations for Crypto Mining Sector Entities involved in cryptocurrency mining will need to register and renew their certificate every year, according to a draft decree by the director of Uzbekistan’s National Agency for Perspective Projects. NAPP is the country’s main crypto watchdog, which is directly subordinated to…

NYDIG study calculates the value of regulation worldwide in terms of BTC price gains

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The need for regulation is a common theme in discussions about cryptocurrency, and the claim is often taken to be self-evident. Now, financial services company New York Digital Investment Group (NYDIG) has done some number crunching to prove the point. In a new study, NYDIG quantifies the effect of regulation on the price of Bitcoin (BTC) worldwide. NYDIG studied Bitcoin prices at regular intervals following regulatory events affecting digital asset taxation, accounting and payments, as well as decisions on the legality of service providers and the digital assets themselves. The…

400+ Crypto Advertisements Violate Guidelines in India — ‘Some Influencers Talk About Crypto Without Understanding It’ – Regulation Bitcoin News

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The Advertising Standards Council of India (ASCI) has reportedly revealed that more than 400 crypto ads violated its guidelines so far this year. The majority of complaints the ad council received are directed at influencers. “Some influencers talk so confidently about crypto without fully understanding it.” 419 Ads in Violation — Most Complaints Concern Influencers The Advertising Standards Council of India (ASCI) has reportedly revealed that it received 453 complaints relating to crypto ads between January and May. The council added that out of all complaints, 419 cryptocurrency advertisements required…

FBI Arrests 2 Men Planning ‘Violent’ Robbery of Bitcoin Worth Millions of Dollars — They Face 20 Years in Prison – Regulation Bitcoin News

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The Federal Bureau of Investigation (FBI) has arrested two men who participated “in a violent plan to break into a family’s home in the middle of the night” to steal bitcoin worth tens of millions of dollars,” according to the U.S. Department of Justice. They could go to prison for 20 years. 2 Men Charged for Planning to Steal Bitcoin The U.S. Department of Justice (DOJ) announced Friday the unsealing of an indictment charging Dominic Pineda and Shon Morgan with a “plan to commit home invasion robbery for tens of…

SEC Chair Gensler Affirms Bitcoin Is a Commodity — ‘That’s the Only One I’m Going to Say’ – Regulation Bitcoin News

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The chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, says bitcoin is a commodity. He emphasized that the SEC, the Commodity Futures Trading Commission (CFTC), and banking regulators will collaborate to oversee the crypto sector. Gary Gensler: Bitcoin Is a Commodity SEC Chairman Gary Gensler clarified his position on cryptocurrency, particularly bitcoin, in an interview with Mad Money host Jim Cramer on CNBC Monday. “This is a highly speculative asset class. We’ve known this for a long time,” Gensler said when asked about cryptocurrency. Citing the “ups…

Morocco’s Central Bank to Unveil Crypto Regulation Bill Soon – Regulation Bitcoin News

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The Moroccan central bank is presently working on a cryptocurrency regulation framework bill and according to the bank’s governor, Abdellatif Jouahri, this is set to be introduced soon. The regulatory framework being worked on will result in Morocco’s money laundering and anti-terrorism financing regulations being upgraded. Crypto Regulation Best Practices A Moroccan central bank committee is working to put in place an appropriate regulatory framework for cryptocurrencies, Bank Al-Maghrib (BAM) governor Abdellatif Jouahri has reportedly said. The governor also revealed his institution has engaged both the International Monetary Fund (IMF)…

SEC Chair Gensler Proposes ‘One Rule Book’ Crypto Regulation – Regulation Bitcoin News

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The chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, has reportedly proposed “one rule book” for the regulation of crypto assets. “If this industry is going to take any path forward, it will build some better trust in these markets,” said Gensler. SEC Chairman Calls for One Rule Book for Crypto SEC Chairman Gary Gensler has proposed “one rule book” for the regulation of crypto, the Financial Times reported Friday. He is looking to strike agreements with other financial regulators, including the Commodity Futures Trading Commission (CFTC),…

Netherlands-Based Coinbase Customers Required to Submit KYC Data When Transferring Crypto off the Platform – Regulation Bitcoin News

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Coinbase has announced that the company plans to introduce a number of changes for customers in the Netherlands in order to comply with the 1977 Sanctions Act, a law that recently applied know-your-customer (KYC) guidelines to non-custodial wallets. If the person living in the Netherlands wants to send crypto to a third-party wallet via Coinbase, they must identify the wallet owner’s name, the purpose of transfer, and the full residential address of the recipient. On June 27, Coinbase Says KYC Info Will Be Required in the Netherlands for Outgoing Crypto…