#Regulations News

South Korean Crypto Investors Could Lose over $2.5 billion due to Regulatory Crackdown

September 13, 2021 by Anthonia Isichei at Regulation

With South Korean regulators set to shut down local cryptocurrency exchanges that fail to meet up the requirements before the deadline later in September, investors in the country could experience losses worth over $2.5 billion. Clampdown on Crypto Exchanges Could Incur Massive Investor Losses The Financial Services Commission (FSC) mandated...

WEF Executive Weighs in on Disputed Cryptocurrency Tax Policy

August 7, 2021 by Anthonia Isichei at Regulation

The World Economic Forum has become the latest body to comment on the controversial US cryptocurrency tax provision. Expanded Crypto Provision Could Affect Industry Sheila Warren, the WEF’s Head of Blockchain and Digital assets has issued a statement about the expanded crypto tax policy by the US Senate. The WEF...

Australia: EY Unveils Blockchain Solution to help SMEs

Blockchain Australia Submits Crypto Regulatory Recommendations to Parliament

July 26, 2021 by Adeniyi Olowoporoku at Regulation

Blockchain Australia, a leading crypto advocacy group, has written to the Australian government stating three key recommendations that it believes would expand the growing blockchain industry. Safe Harbor for Crypto-Asset Providers The crypto organization submitted its recommendation to the country's Senate Select Committee on Australia as a Technology and Financial...

All stablecoins holdings across all exchanges hit the all-time high, and now it's $10B

US Treasury Secretary Mandates Federal Regulators on Stablecoin Laws

July 20, 2021 by Anthonia Isichei at Regulation

Janet Yellen, the Secretary of the US Treasury has said that it was imperative for regulators to establish a regulatory policy for stablecoins. Stablecoin Regulation a Priority for US Authorities Yellen's statement was revealed in a readout of the meeting held on Monday (July 19, 2021). Attendees at the meeting...

U.S. Treasury Secretary Janet Yellen Convenes Meeting to Discuss Stablecoins

July 17, 2021 by Aisshwarya Tiwari at Regulation

Stablecoins to be the center of discussion in the upcoming meeting among federal financial regulators in the U.S. U.S. Financial Regulators to Discuss Stablecoins U.S. Treasury Secretary Janet Yellen announced yesterday that a meeting would be convened on July 19 to discuss stablecoins and their potential benefits and risks. Specifically,...

Britain will focus crypto rules on stablecoins, minister says

British Minister Says Stablecoin Regulation is Priority

March 31, 2021 by Anthonia Isichei at Regulation

A British government official stated that Britain's primary focus would be to regulate stablecoins, rather than the extensive cryptocurrency market. Stablecoins' Perceived Threat Propels Calls for Regulation According to Reuters on Tuesday (Mar. 30, 2021), Britain's Economic Secretary to the Treasury, John Glen, made the statement while speaking at a...

Bitcoin Trading Exploding in India Since Supreme Court's RBI Ban Reversal

India’s Finance Minister Says Government Would Allow Citizens Experiment on Crypto

March 16, 2021 by Anthonia Isichei at Regulation

While uncertainties surround India's cryptocurrency industry with rumors about an impending ban on crypto ownership, the country's Finance Minister stated that the government was not going to block all options regarding cryptocurrency. To Ban Crypto or Not? Speaking in an interview at a conclave by India Today, Nirmala Sitharaman said...

Thai SEC Begins Public Hearing On Proposed Cryptocurrency Regulations

February 25, 2021 by Adeniyi Olowoporoku at Regulation

The Securities and Exchange Commission of Thailand has requested a public dialogue on new cryptocurrency regulations. This, according to the regulatory body, is part of its plans to have an inclusive digital-asset framework. Public Discourse part of Proposed Regulatory Framework The Thai SEC revealed this proposal in a press release...

Ripple Eyes Japan, Singapore If Blockchain Firm Leaves US

Ripple Is a “Proud American Company” But May Move to Japan or Singapore

October 22, 2020 by Dalmas Ngetich at Altcoins

Cryptocurrency regulations shouldn’t be a guessing game. For this reason, Ripple, the San Francisco-based payment company behind RippleNet, will consider Japan, Singapore, the United Arab Emirates, Switzerland, and the United Kingdom as potential destinations if they move from the United States, its CEO, Brad Garlinghouse told Bloomberg in an interview on Oct 21. Ripple...

UK: Archax Becomes the First FCA-Regulated Digital Securities Platform

August 19, 2020 by Anthonia Isichei at Regulation

Archax, a London-based company has become the first digital securities exchange and custodian to be regulated by the U.K. regulator, the Financial Conduct Authority (FCA). Archax Obtains Various Licenses for the FCA The company made the announcement via a press release on Wednesday (August 19, 2020). According to the press...

France: Financial Regulator Greenlights ICO for Renewable Energy Provider

June 3, 2020 by Aisshwarya Tiwari at Regulation

French stock market regulator - the Autorie des Marches Financiers (AMF) – has OK’d an initial coin offering (ICO) for a French renewable energy provider named WPO. The regulator approved the ICO under its “ICO visa” scheme on May 12, Coindesk reports, June 3, 2020. WPO Approved to Raise Funds via ICO...

Hand Holding a Bitcoin and the Swiss Flag

Switzerland: FINMA Approves InCore Bank to Carry Out Cryptocurrency Transactions

May 31, 2020 by Aisshwarya Tiwari at Regulation

Swiss financial watchdog, the Swiss Financial Market Supervisory Authority (FINMA) has given the go-ahead to InCore bank to engage in digital asset transactions, the bank announced recently. FINMA Approves InCore Bank for Cryptocurrency Transactions Swiss regulators continue to make crypto-banking services easily-accessible for customers as according to a recent development,...

IMF Explores the Synergies Between Privately Backed Stablecoins and CBDCs

IMF Senior Official Says Private Corporations Can Bolster Digital Currencies

May 27, 2020 by Aisshwarya Tiwari at Regulation

Digital currencies are being increasingly looked into around the world, with most governments and corporations alike working on some iteration of the technology. In this regard, a senior official at the International Monetary Fund (IMF) believes a private-public nexus is the way forward for CBDCs. Public-Private the Way Ahead Tommaso...

India: Conducive Regulations Aid Crypto Firm CoinDCX Raises $2.5 Million from Polychain Capital

May 26, 2020 by Aisshwarya Tiwari at Regulation

Indian cryptocurrency firms are leaving no stone unturned in recent times. The country’s government, which is rather slow in adopting technology, okayed cryptocurrency businesses to continue earlier this year, leading to a flurry of investment and technological activity. The latest to attract institutional investment is CoinDCX, a Mumbai-based crypto exchange that’s...

U.S. State of Louisiana Wants to License Cryptocurrency Businesses

May 25, 2020 by Aisshwarya Tiwari at Regulation

Officials in Louisiana's lower chamber have approved a proposal to regulate cryptocurrency businesses in the Southern U.S. state, if a recent development is considered. Louisiana's Crypto Push As reported by The Block on May 24, public records in the Louisiana state legislature show the proposal was passed and approved last...

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