#regulation News

Germany Cracks Down on Bitcoin ATMs Operated by “Shitcoins Club”

August 7, 2020 by Shaurya Malwa at Regulation

German financial regulator BaFin seized Bitcoin ATMs run by an agency with a dubious name in the country, reported CoinDesk on August 7. Bitcoin ATMs Seized Called “Shitcoins Club,” the Poland-based ATM operator was asked by BaFin to shutter all units in Germany, an official confirmed Thursday. The firm was...

Indian Government Considering Banning Cryptocurrencies, Again

June 12, 2020 by Aisshwarya Tiwari at Regulation

India continues to oscillate over its stance toward cryptocurrencies as according to a report by The Economic Times, the country is now considering introducing a federal law to put a lasting ban on digital currencies. Back to Square One? After the Supreme Court of India’s landmark ruling in March 2020...

Japan on the Verge of Legalizing Initial Coin Offerings (ICOs)

Japanese Banks Exploring Digital Currency Payments Interoperability

June 4, 2020 by Anthonia Isichei at Regulation

Major banking giants in Japan together crypto exchange platform DeCurret have formed a working group to explore digital currency payments interoperability. Meanwhile, regulators in the country are warning investment advisors to fulfill the necessary licensing requirements before offering their services. Japanese Banks Ponder Digital Settlements Infrastructure According to Reuters on...

Iran Needs to Take Bitcoin Seriously, Says Lawmaker

June 3, 2020 by Anthonia Isichei at Regulation

An Iranian lawmaker is advising the government to actively control the development of the local Bitcoin (BTC) and crypto industry. Bitcoin Could be Beneficial for Iran According to Tasnim News Agency, Mohammad Hossein Farhangi, a member of Iran’s Parliament says the country’s government needs to move forward with developing its...

Putin checking out some bitcoin russia flag

Russian Government Set to Impose Fines and Imprisonment for Illegal Crypto Activities

May 22, 2020 by Anthonia Isichei at Regulation

The crypto landscape in Russia may soon be facing harsh laws as authorities have proposed new draft bills that seek to fine and imprison the illegal use of cryptocurrencies in the country. Crypto Violations Attract $28,000 Fine and 7 Years Imprisonment According to a report by the local news outlet...

Brazil: Authorities Investigating Banks that Close Crypto Exchange Accounts

May 21, 2020 by Anthonia Isichei at Regulation

The Administrative Council for Economic Defense (CADE), Brazil’s antitrust watchdog, elected to revisit the probing of some banks who closed the bank accounts belonging to local crypto exchanges. Antitrust Agency Probes Banks' Closure of Crypto Exchange Accounts According to a report by Finance Magnate on Thursday (May 21, 2020) the...

Silhouette Standing in the Doorway of ErisX

ErisX Subsidiary Scores BitLicense From New York Regulators

May 7, 2020 by Anthonia Isichei at Regulation

The New York State Department of Financial Services (NYDFS) granted its BitLicense and money transmitter license to Eris Clearing LLC, the clearing and settlement division of ErisX. ErisX Clearing LLC Now Licensed Money Transmitter ErisX announced the news of the approval of the BitLicense on Wednesday (May 6, 2020). With...

Dutch man holding dutch paper with Bitcoin Ethereum and Ripple behind it checkbox

Crypto Exchanges to Face Stricter AML Laws in the Netherlands

May 6, 2020 by Anthonia Isichei at News

Dutch authorities have told crypto exchanges to be ready to comply with tougher anti-money laundering (AML) laws or face mandatory shutdowns. DNB Gives Crypto Exchanges Two Weeks Ultimatum In a press release published by the Netherlands’ central bank, De Nederlandsche Bank (DNB), on Monday (May 4, 2020), crypto exchanges operating...

Japan: Dash (DASH) Listing Proposal Gets Greenlight to Relist Altcoin on Local Crypto Exchanges

April 28, 2020 by Anthonia Isichei at Altcoins

A proposal put forward by Yosuke Suda who runs the Dash Japanese website recently got approval to intensify efforts to get the crypto token listed again on virtual currency exchanges in Japan. Dash Crypto Looking to Make Good with Regulators According to an update on April 26, 2020, concerning a...

Libra Association Waters Down Libra’s Core Model to Address Regulatory Concerns

April 17, 2020 by Anthonia Isichei at News

The Libra Consortium has made new updates to the white paper detailing amendments to the original premise, which include the introduction of a number of stablecoins pegged to different fiat currencies as against its initial model, among other changes, in response to concerns expressed by regulatory bodies. Regulatory Pressure Causes...

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