#Regulation News

Irani National Flag with Bitcoins Strewn Across

Iranian Government Implements Cryptocurrency Rules

August 5, 2019 by Ogwu Osaemezu Emmanuel at Regulation

Iranian authorities have implemented new regulations to govern all cryptocurrency-related activities in the state. The new law stipulates that all crypto-related transactions in the region remain illegal and cryptocurrency miners are required to obtain the relevant licenses while also operating in compliance with other guidelines, reports PressTV on August 5,...

Cryptocurrency Mining Firm Ordered to Return Investors Money

August 4, 2019 by Ashwath Balakrishnan at Regulation

The Texas Securities Commissioner has ordered AWS Mining, a mining firm operating in the state, to repay their investors any money they had put into mining contracts. In Texas, the state securities regulators went on a statewide crackdown of illegitimate cryptocurrency businesses that were soliciting investors from Texas. AWS Mining...

A rocky mountain sign covered in blue blockchains

Cryptocurrency and Blockchain Regulations Clarified in Rocky Mountain U.S. States

August 2, 2019 by Ogwu Osaemezu Emmanuel at Regulation

In a bid to provide regulatory clarity to issuers and buyers of distributed ledger technology (DLT) based virtual currencies in the area, Wyoming, Colorado, and Montana states have taken the bold step to draft bills pertaining to the use of bitcoin and altcoins, reports Natlawreview on August 1, 2019 The...

U.K.: FCA Issues Final Guidelines on Crypto Regulation

August 1, 2019 by Ogwu Osaemezu Emmanuel at Regulation

On July 31, 2019, the Financial Conduct Authority (FCA), UK's Cryptoassets Taskforce issued a Final Guidance on the type of cryptocurrencies that fall under its regulatory parameters in a bid to help crypto market participants better understand whether they are subject to its rules and requirements. According to the FCA,...

U.S.: Legislation Realizes Bitcoin Is Harder To “Ban” Than They Thought

August 1, 2019 by Nigel Dollentas at Regulation

Despite the fears of some that regulations would be the reason why cryptocurrency falls, and the “bubble” pops, an article by Forbes published on July 30th, 2019 reports that U.S. lawmakers have finally concluded that this wouldn’t be possible. Even with various governments around the world expressing their disapproval, or...

New York Extends Bitfinex Lockout Period

July 30, 2019 by Ashwath Balakrishnan at Regulation

Justice Joel Cohen of the New York Supreme Court extended the preliminary injunction against iFinex and Bitfinex for an extra 90 days. This means the company cannot access Tether's financial reserves for their own use. The lawsuit emerged after the New York State Attorney General accused iFinex, the parent company...

A strong bitcoin holding up the weight of South Korea

Korea’s ‘Big 4’ Bitcoin Exchanges Facing Strict AML Scrutiny from Banks

July 30, 2019 by Osato Avan-Nomayo at Regulation

The latest news emerging from South Korea indicates that Bitcoin exchanges are facing a surprisingly increased level of scrutiny of commercial banks amid the renewal of banking services. The revelation comes as the intergovernmental Financial Action Task Force (FATF) continues to urge countries to enact stricter regulatory controls over the...

Ripple Execs Urge U.S. Authorities to Focus on Regulatory Clarity for Cryptocurrency

July 29, 2019 by Anthonia Isichei at Regulation

Ripple CEO, Brad Garlinghouse, and Executive Chairman and Co-founder of Ripple, Chris Larsen, expressed concerns regarding regulatory ambiguity in the United States. In an open letter to the U.S. Congress on July 28, 2019, both top executives stated that lack of clear cryptocurrency regulations is bound to stifle crypto business...

Magnifying Glass Cracking the Libra Coin

Ripple CEO Fears Regulation Fallout from Facebook’s Libra

July 26, 2019 by Ashwath Balakrishnan at Regulation

Brad Garlinghouse, the CEO of Ripple Inc, is concerned about the U.S. government's recent jump into action after the announcement of Libra. In an interview with Fortune, July 25, 2019, Garlinghouse speaks about his discontent with Trump's bunching of cryptocurrencies, and the potential regulatory conundrum that Libra has awoken. The...

Kenya Should Pursue Cryptocurrency Adoption, Says National Blockchain Task Force

July 25, 2019 by Osato Avan-Nomayo at Regulation

A crypto and blockchain think tank in Kenya is advising authorities to focus on ensuring cryptocurrency adoption in the country, reports CGTN Africa, July 25, 2019. Meanwhile, there hasn’t been much progress regarding the issuance of standardized regulations for digital assets in Kenya but the central bank says the Facebook...

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