“I, for one, would like to look at the possibility of working with [the Treasury Department] to address some of the things in your punch list that we agree with, so that we may be able to get regulations on the books in this Congress that will certainly not go as far some of my colleagues on the other side of the aisle want to go, but [will be] far short of the wild, wild West that we find ourselves in now,” Tillis said. Source
Tag: regulatory
Financial Stability Study Calls for Consistent Regulatory Response to Stablecoins
Countries have varying definitions and categorizations for stablecoins that may pose a risk to financial stability, the report by the Financial Stability Institute said. Source
For Crypto, the Global Regulatory ‘Olympics’ Has Already Begun
In this competition, there are four distinct contests: regulatory effectiveness, founder depth, market size and capital market strength. As a former crypto regulator responsible for enhancing New York’s regulatory system and now a venture capital investor, I understand how difficult it is to win in all four of these categories, especially those outside of your direct control. Source
Do Kwon released, spot Bitcoin ETFs hit record outflows, Ethereum regulatory issues | Weekly Recap
Last week, Terraform Labs founder Do Kwon grabbed headlines while spot Bitcoin ETFs witnessed a bearish turn. Also, regulators reportedly look at Ethereum. Original
SEC Chair Gensler Calls for More Regulatory Sunlight in Cryptocurrency Sector at Law Conference
At a recent gathering at the Columbia Law School Conference, Gary Gensler, the chair of the U.S. Securities and Exchange Commission, addressed the assembly on the topic of the digital currency landscape. His discourse highlighted the “benefits of mandatory disclosure,” with Gensler humorously alleging that certain “participants in crypto securities markets that seek to avoid […] Source BitcoincryptoexchangeExchanges CryptoX Portal
Ether Tumbles 6% as ETH ETF Hopes Dim Amid Regulatory Probe Reports
CoinDesk reported Wednesday that the Ethereum Foundation faces a confidential inquiry, and Fortune said the SEC is examining whether ETH is a security. Source
South Africa to license 60 crypto exchanges in regulatory milestone
South Africa is set to become one of the first countries in Africa to mandate licenses for crypto exchanges. Approximately 60 digital asset platforms are expected to receive their permits by the end of this month, ensuring they operate within regulatory guidelines. In an interview with Bloomberg, the Commission of the Financial Sector Conduct Authority (FSCA) revealed this today. FSCA has issued a deadline of November 30 for exchanges to submit their licensing applications. Failure to comply could result in regulatory sanctions. The call for applications saw over 300 crypto-asset…
Hong Kong’s Central Bank Starts Regulatory Sandbox for Stablecoin Issuers
“Applicants should have genuine interest in developing a stablecoin issuance business in Hong Kong with a reasonable business plan, and their proposed operations under the sandbox arrangement will be conducted within a limited scope and in a risk-controllable manner,” the HKMA notice said. Source
SEC Charges Shapeshift With Regulatory Violations, Sparking Debate on Crypto Regulation
The U.S. Securities and Exchange Commission (SEC) has leveled charges against Shapeshift AG, accusing the company of operating without proper registration. This case has ignited a broader conversation on the regulatory framework for crypto assets, with SEC Commissioners Hester Peirce and Mark Uyeda voicing their dissent and concerns about the SEC’s current approach toward crypto […] Source CryptoX Portal
Crypto Lender Nexo Secures First Regulatory Victory in Dubai
Receiving a full license involves three stages: an initial provisional permit, a preparatory license, and an operating license. Nexo’s regional entity, Nexo DTC, is seeking to win full approval for Lending & Borrowing, Management & Investment, and Broker-Dealer activities. Source