#Regulation News

China Targets OTC Trading Channels as Crypto Clampdown Rages On

Chinese Regulators Reportedly Shut 173 Cryptocurrency Exchanges in the Country; Paves way for CBDC

November 25, 2019 by Aisshwarya Tiwari at Regulation

Twitter handle @cnLedger on November 25, 2019, quoted the People’s Bank of China’s (PBoC) newly released China Financial Stability Report 2019, where the apex bank stated that the Chinese regulators had clamped down on 173 cryptocurrency trading and token issuing platforms in the country. China Chokes the Crypto Ecosystem China’s...

United States: FinCEN says Crypto Exchanges must Share Customer info by June 2020

November 20, 2019 by Ogwu Osaemezu Emmanuel at Regulation

As part of efforts to curb the use of blockchain-based virtual currencies for unlawful activities such as money laundering, the United States Financial Crimes Enforcement Network (FinCEN) has mandated all money services businesses (MSBs) such as Bitcoin (BTC) trading venues to start transmitting certain customer info for transactions up to...

Tax Evasion with Cryptocurrencies Could rise due to De Minimis Exemption

November 20, 2019 by Osato Avan-Nomayo at Regulation

While calls continue for a lenient crypto tax regime, one commentator says a ‘de minimis’ exemption status for virtual assets will encourage Bitcoin tax evasion, reports Law 360. Crypto Tax Evasion Will Become Commonplace According to Law360, Omri Marian of the University of California’s Irvin School isn’t in support of...

U.K. Classifies Cryptocurrencies as Property Under English Law

November 19, 2019 by Osato Avan-Nomayo at Regulation

The U.K. is now the latest jurisdiction to classify cryptocurrencies and virtual assets as property. The Times reports that a legal panel chaired by Sir Geoffrey Vos, Chancellor of the High Court reached the decision which presents significant implications for the legality of cryptocurrencies and blockchain assets in the U.K....

Captain America Bitcoin Running Blue Red White

CFTC Chairman: The U.S. Should be the Global Leader in Crypto Asset Development

November 13, 2019 by Anthonia Isichei at Regulation

Heath Tarbert, the head of the United States Commodity and Futures Trading Commission (CFTC), says the country ought to be leading the global crypto market. Per a report by Law 360, Chairman Tarbert also says the country’s financial watchdogs and the U.S. Congress should consider simplifying the regulatory framework for...

Facebook Heavily Criticized in Congressional Hearing, Zuckerberg Evades Specific Questions

Facebook Pay Launches as Lights Continue to dim on Libra

November 13, 2019 by Ashwath Balakrishnan at Regulation

Facebook Pay, a cross-application payment service launched by Facebook, will go live for United States customers this week. The service will be integrated across Facebook, Instagram, WhatsApp, and Messenger. Libra continues to face opposition from global regulators and Facebook Pay may be their way of showcasing their capabilities, November 13,...

Germany: BaFin Launches Market Survey on Cryptocurrency Derivatives

November 11, 2019 by Aisshwarya Tiwari at Regulation

In an official announcement dated German financial regulator - the German Federal Financial Supervisory Authority (BaFin) – stated that it had launched a market survey on cryptocurrency derivatives. Wary of the Growing Crypto Industry Cryptocurrencies and Europe have historically had a fascinating dynamic between them. While some European countries have...

Person Giving a How To Guide for Avoiding Scams

Maltese Financial Regulators Warns Investors of New Bitcoin Ponzi Scheme

October 31, 2019 by Ogwu Osaemezu Emmanuel at Regulation

Maltese financial regulator, the Malta Financial Services Authority (MFSA), has made it clear to residents that “Bitcoin Future,” a new Bitcoin Ponzi scheme that claims to be endorsed by popular celebrities and regulators, is a fake investment platform and has not been licensed by the MFSA, according to a press...

Burundi: Government Bans Bitcoin Trading

September 5, 2019 by Ogwu Osaemezu Emmanuel at Regulation

The government of Burundi has placed a blanket ban on cryptocurrency trading in the state citing a lack of protection for consumers who burn their fingers trading bitcoin (BTC) and other digital assets. The nation now plans to make defaulters pay huge penalties, reports Bloomberg on September 4, 2019. Bitcoin...

South Korean Cryptocurrency going to war swords blockchain

South Korean Blockchain Industry in Danger of Decline

September 2, 2019 by Osato Avan-Nomayo at Regulation

The blockchain industry in South Korea is reportedly facing a difficult period reports local media platform The Block Post. While the struggles of cryptocurrency exchanges in the country isn’t exactly news, it appears that other crypto-businesses are also experiencing similar problems sparking fears of a slowdown in South Korea’s digital...

Monero Core Team Member standing infront of South Africa flag

South Africa: Potential for Growth Despite Strict Crypto Regulations says Monero Core Team Member

August 31, 2019 by Ogwu Osaemezu Emmanuel at Blockchain, Regulation

Despite the severe economic and political issues on top of strict crypto regulations in South Africa, Riccardo Spagni, a member of the Monero Core Team and co-founder of decentralized platform Tari Labs says the country is still an excellent breeding ground for motivated entrepreneurs, reports Mybroadband on August 30, 2019....

Crypto-Brokers Demand Regulations in Hopes to Build Trusted, Respectable Businesses

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Cryptocurrency Regulations Around the World

August 30, 2019 by Guest Post at Blockchain, Regulation

Cryptocurrency, in general, and Bitcoin, in special, has blasted into the mainstream a couple of years ago when its exchange rate started climbing at a crazy rate. It stayed on the front page of newspapers and online outlets for a while then, after its "price" settled at a less spectacular...

Swiss data Commisioner Switzerland Flag binoculars witnesses Libra

Switzerland Central Bank Discusses Libra Cryptocurrency with Regulators

August 28, 2019 by Ogwu Osaemezu Emmanuel at Regulation

Switzerland National Bank’s (SNB) Vice Chairman, Fritz Zurbruegg has revealed that the apex bank is currently holding serious talks with relevant authorities across the globe concerning Facebook’s global cryptocurrency project, Libra, according to a Reuters report on August 27, 2019. Important Details Still Missing Per sources close to the matter,...

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Swiss Regulators Award First Banking Licenses to Blockchain Banks

August 28, 2019 by Anthonia Isichei at Regulation

FINMA, Switzerland’s financial regulatory body, recently awarded its first banking and securities dealers’ licenses to two Swiss blockchain banks, according to a report by Finews on August 26, 2019. The license comes after the regulatory body released a guideline regarding cryptocurrency and blockchain in the country. Swiss Watchdog Grants Conditional Licences ...

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Brazil: Central Bank Adopts IMF Cryptocurrency Guidelines

August 27, 2019 by Aisshwarya Tiwari at Regulation

Brazil’s Central Bank, Banco Central de Brasil, published an official notice on August 26, 2019, stating that it had adopted the International Monetary Funds’ (IMF) guidelines with regard to cryptocurrency assets. Non-Financial Products In a major development in the Latin American cryptospace, Brazil’s lender of the last resort – Banco...

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