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SEC Sues Shopin and its Founders for Fraudulent ICO Project

Two New Bills in Congress Challenge SEC and CFTC’s Crypto Jurisdiction

September 25, 2020 by Dalmas Ngetich at Regulation

For months, CoinCenter has been working with two U.S. Congress representatives to introduce two new bills that will clarify the U.S. Commodity Futures Trading Commission (CFTC) and Securities and Exchange Commission (SEC) jurisdiction over cryptocurrencies as per an update on Sep 24. Bills for Crypto Clarity The two new bills: Digital Commodities Exchange Act...

Putin checking out some bitcoin russia flag

Russians May Have To Disclose Crypto Holdings Above $1,300

September 25, 2020 by Dalmas Ngetich at Regulation

Russians with crypto holdings above $1,300 must disclose their addresses, balances, and trading history to tax authorities lest they risk forced labor or up-to three years in jail. This is if the latest crypto draft rules by the Ministry of Finance (MoF) is adopted. New Draft Laws in Russia Classifies...

E.U. Securities Watchdog Studying ICOs “Case-by-case” to Take a Call on Regulation

EU Mulls Developing Exhaustive Regulatory Framework for Cryptocurrencies

September 25, 2020 by Aisshwarya Tiwari at Regulation

EU is taking cryptocurrencies seriously. EU Moves Ahead with Regulating Cryptocurrencies According to a Bloomberg article published on September 24, the European Union (EU) is moving ahead with its plan to regulate digital currencies to protect its financial markets without depriving citizens and companies of the new technologies. In a...

Venezuela State-Run Oil Firm to Pay Suppliers in Bitcoin

Venezuelan Government Legalize and Control Bitcoin Mining Activities

September 24, 2020 by Anthonia Isichei at Regulation

A new decree in Venezuela officially made Bitcoin mining legal in the country. However, the regulation will enable authorities to monitor the BTC mining sector. Bitcoin Mining Legal in Venezuela The decree issued by Venezuelan’s National Superintendency of Crypto Assets and Related Activities (SUNACRIP) was implemented on Monday, according to...

Digital Euro Will Provide Alternative to Cryptocurrency, Says ECB Chief

September 23, 2020 by Adeniyi Olowoporoku at Regulation

The president of the European Central Bank (ECB) Christine Lagarde has extolled the benefits of a digital currency for the regional body. Lagarde made these statements at the Franco-German Parliamentary Assembly on September 21. Digital Euro to Co-exist with Fiat Currency The European bank chief further confirmed that the digital...

OCC Authorizes U.S. Banks to Hold Stablecoin Reserves

September 22, 2020 by Anthonia Isichei at Regulation

The U.S. banking regulator has issued guidelines that will enable banks to offer services to stablecoin coin issuers in the country. Federal Financial Institutions to Offer Services to Stablecoin Issuers In an interpretive letter published by the Office of the Comptroller of the Currency (OCC) on Monday (September 21, 2020)...

JD.com Joins Hands With China’s Central Bank for Digital Yuan Project

September 22, 2020 by Evan Ezquer at Regulation

According to a media report last September 21, the e-commerce giant JD.com has joined hands with the People’s Bank of China Digital Currency Research Institute to build mobile apps for China’s digital yuan. DCEP Is the Digital Version of the Yuan The two bodies will work together to build mobile and...

Philippines Bank Joining Digital Currency Race

Philippines Central Bank Keen on Joining Digital Currency Race

September 21, 2020 by Aisshwarya Tiwari at Regulation

The Philippines is keen on joining the digital currency bandwagon. Blockchain Technology Could Help with Digital Money According to a recent report by Bloomberg, Philippine central bank Governor, Benjamin Diokno, put his weight behind emerging technologies – including distributed ledger technology (DLT) – in their potential to improve the delivery...

Privacy-Centric Enigma (ENG) Project Knocks SEC’s Door for ENG Token Registration

September 19, 2020 by Aisshwarya Tiwari at Regulation

Enigma (ENG) tries it luck with the stiff U.S. regulator. Overcoming the Regulatory Hurdle In a rather ambitious move, privacy-centric cryptocurrency project Enigma (ENG) has filed with the U.S. Securities and Exchange Commission (SEC) for the regulatory approval of its native ENG token. Per the document published by the SEC...

Leading Telecoms Firm Accelerating Blockchain Adoption in Europe

EU to Introduce New Blockchain Guidelines by 2024

September 19, 2020 by Adeniyi Olowoporoku at Regulation

The European Union are set to introduce new rules in the next four years that could introduce a single currency market that would make cross-border payments easier according to documents from a leak report. European Union Looking to Create a Legal Framework for Cashless Ecosystem According to Reuters, the two...

Turkey, the Undisputed Cryptocurrency King in the Middle East, Says Report

September 18, 2020 by Evan Ezquer at Regulation

A new report, published in September 2020, by crypto forensics company Chainalysis says that Turkey is the undisputed cryptocurrency king in the middle-east region and also accounts for the highest total transaction volume in the region. The report was published this week. According to the Chainalysis 2020 Geography of Cryptocurrency...

United States Global Blockchain Earth Cryptocurrency Flag Red White Blue

U.S. Crypto Businesses to Benefit From New Joint Supervised Regulation

September 16, 2020 by Anthonia Isichei at Regulation

Cryptocurrency firms and fintech companies in the United States will start to enjoy a less cumbersome registration process with reduced cost, following a new unifying rule. One Rule, Cheaper Costs According to Reuters on Tuesday (September 15, 2020), the Conference of State Bank Supervisors (CSBS) announced a new regulatory strategy...

U.S. Sanctions Force Paxful to Exit Crypto-Friendly Venezuela

September 15, 2020 by Ogwu Osaemezu Emmanuel at Regulation

Paxful crypto exchange has shuttered operations in Venezuela citing United States sanctions, which bars Americans from doing business with the Nicolas Maduro-led nation, according to reports on September 15, 2020. Paxful Leaves Venezuela Paxful, a leading peer-to-peer (P2P) United States-based bitcoin (BC) marketplace has announced that its services will no...

Nigerians Using Bitcoin for International Trade Despite Regulatory Uncertainties

Nigeria: SEC Proposes 3-Point Agenda for Crypto Regulation

September 14, 2020 by Osato Avan-Nomayo at Regulation

The days of uncertainty over crypto regulations in Nigeria may soon be at an end with regulators in the country set to examine laws and guidelines to govern the nation’s token economy. Nigeria SEC Sets Sight on Crypto Regulation In a communique published on Monday (September 14, 2020), the Nigeria...

French Central Bank Governor Builds the Case for Digital Euro

September 13, 2020 by Aisshwarya Tiwari at Regulation

The digital euro might not be too far away. French Central Bank Governor Stresses the Importance of CBDC With the global race for central bank digital currency (CBDC) heating up with each passing day, countries and central banks across the world are walking the extra mile to ensure they do...

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