Tag: crypto regulations

Feb 01 2023

UK Moves to Regulate Crypto for Better Consumer Protection

Great Britain is preparing the ground for cryptocurrency regulation in the country in the future, the UK's government announced on Wednesday. Public consultation has been launched as a first step to prepare a draft law on regulating digital assets.

UK Starts Crypto Regulation Works

According to the official press release published on the government website, the UK wants to protect its consumer better and allow...

Jan 18 2023

US Charges Bitzlato's Founder with Processing $700M in Crypto for Criminals

The United States Department of Justice (DOJ) has charged Anatoly Legkodymov, the founder of China-based cryptocurrency exchange, Bitzlato, with processing over $700 million of illicit funds in cryptocurrency for darknet criminals between 2018 and 2022.

DOJ disclosed on Wednesday that Legkodymov, a 40-year-old Russian national who resided in China, was arrested on Tuesday night in Miami by agents of the Federal Bureau of...

Jan 12 2023

Bulgaria Launches Probe of Crypto Lender Nexo, Raids Offices

Local investigators in partnership with foreign agents raided the Bulgaria offices of the cryptocurrency lending firm, Nexo, on Thursday. Bulgarian business daily Dnevnik reports that a total of 15 offices are being checked with over 300 officials from various agencies working on the case.

Additionally, prosecutors have launched an international operation to investigate the company for...

Jan 11 2023

Binance's New Swedish Registration Marks 7th Regulatory License in EU

Binance Nordics AB, the Swedish subsidiary of the top cryptocurrency exchange, Binance, has been registered as a virtual currency trading and management institution by the Swedish Financial Supervisory Authority (Swedish FSA).

The new license marks the digital asset company’s seventh regulatory approval within the European Union region. Thus, Binance is now approved as a digital asset...

Dec 15 2022

New York Regulator Mandates Crypto Permission for Banks

The New York Department of Financial Services (NYDFS) has published a guidance that requires banking firms under the State of New York to seek advance permission from it before they or their authorized third-party agents engage in cryptocurrency-related activities.

According to the state financial regulator, the rule also extends to the branches and agencies of foreign banking organizations...

Dec 13 2022

US’ CFTC Charges Bankman-Fried, FTX.com and Alameda with Fraud

The Commodity Futures Trading Commission (CFTC), the United States derivatives market regulator, on Tuesday charged Sam Bankman- Fried, the Founder and former CEO of bankrupt cryptocurrency exchange, FTX, with “fraud and material misrepresentations in connection with the sale of digital commodities in interstate commerce.”

FSB suggests global standards for crypto regulation

Dec 13 2022 Published at Coinscreed under tags  crypto regulations fsb ftx news

Following the FTX crash, Dietrich Domanski, the outgoing secretary general of the Financial Stability Board (FSB), said the standards for crypto regulation are necessary to address risks within the crypto space. A worldwide financial watchdog took action in response to the FTX crash and issued suggestions to regulate the cryptocurrency market at the beginning of […] The post...

Dec 12 2022

Moonpay Announces UK FCA Registration

MoonPay, a crypto payments app valued at $3.4 billion, has received the UK's Financial Conduct Authority (FCA) license. The company...

Dec 09 2022

Japan Extends FTX Suspension to March 2023, Orders Retention of Assets

Japan’s Kanto Local Finance Bureau has extended the suspension of FTX Japan, the local subsidiary of the beleaguered cryptocurrency exchange, FTX, to March 9, 2023, the Japanese Financial Services Agency announced on Friday.

Finance Magnates reported last...

Nov 30 2022

Brazilian Government Approves Bill Regulating Crypto Transactions

Before the bill can become law, it still needs to be approved by the executive branch. Even though Brazil hasn't made Bitcoin legal money like El Salvador did last year, the South American country did pass a law that makes crypto payments legal everywhere in the country. A federal legislative body in Brazil called the […] The post...

Nov 24 2022

South Korea revises Crypto regulations to avoid FTX recurrence

Nov 24 2022 Published at Coinscreed under tags  crypto crypto regulations news south korea

Yoon Chang-Hyun, a South Korean politician from the People Power Party, wants to change the crypto-safe transaction bill because he thinks the current bill doesn't protect users enough after the FTX collapse. Yoon Change-Hyun presented the bill change to the National Assembly Political Affairs Committee on November 22 during a first subcommittee meeting to discuss […] The post...

Nov 22 2022

Bitpanda Obtains Crypto License in Germany

Bitpanda, a cryptocurrency exchange startup from Austria, has registered in Germany as a crypto custody service and proprietary trading provider. Through its local branch, Bitpanda Asset Management GmbH, the platform can now independently offer its products to German...

Nov 21 2022

Kenya Debates New Crypto Tax Bill

Lawmakers in Kenya are debating the Capital Markets (Amendment) Bill 2022 which seeks to introduce crypto taxation to crypto exchanges, digital wallets and individual transactions. Local publication Business Daily reports that a bill sponsored by MP Abraham Kirwa is seeking to introduce a 20% excise tax on every cryptocurrency transaction executed in the country.

According...

Nov 16 2022

FTX’s Bahamas Unit Applies for Bankruptcy Protection in the US

FTX Digital Markets, the Bahamas subsidiary of troubled cryptocurrency exchange, FTX, has applied for Chapter 15 bankruptcy protection in the United States.

The unit is seeking protection from creditors in the US, a court filing registered late Tuesday at the Southern District of New York, shows. This is even as another court filing processed the day...

Oct 31 2022

SBF Defends Crypto Regulation Proposal

Oct 31 2022 Published at Coinscreed under tags  crypto regulations finance news sbf

The CEO of ShapeShift and the CEO of FTX, SBF, talk about proposed rules for cryptocurrencies. Voorhees says, "If DeFi front-ends that serve Americans need to be licensed, DeFi will die in America." Bankman-Fried makes it clear that he won't support regulating finance that is run by a lot of different people. Erik Voorhees, the […] The post...

The Majority of Voters Want More Crypto Regulation

A new poll shows that most likely voters want more rules about crypto. The Crypto Council for Innovation said, "Our national survey shows that voters believe in the promise of digital assets and see it as a long-term part of the economy and their financial future." Voters Want More Cryptocurrency Regulation A crypto advocacy group […] The post...

Oct 27 2022

DeFi Project founder Andre Cronje calls for stricter crypto regulations

Andre Cronje former founder of DeFi project Yearn Finance, following the footsteps of FTX CEO, has also called for strict regulation of the crypto sector. Andre Cronje, a renowned former founder, and developer of the decentralized finance (DeFi) project has reappeared after a protracted absence to urge for stricter controls on the crypto industry in […] The post...

Oct 26 2022

MAS Invites Feedback On Crypto Leverage Ban And Stablecoin Policy In Singapore

Summary: The Monetary Authority of Singapore (MAS) published two consultation papers with proposed cryptocurrency regulations geared toward mitigating trading risks and providing efficient oversight for locally issued stablecoins. Singapore's central bank wants the public to provide feedback on the measures up until December 21, 2022. Wednesday's announcement comes as the latest effort from authorities to regulate digital assets after a massive downturn in...

BREAKING: The UK Approves Cryptos – Will the Bullrun return?

The economy of the UK has been contracting for the past year. Numerous parallel problems, such as the energy crisis and worries about inflation, have been plaguing the public. Prime Minister Liz Truss made her resignation known at the conclusion of the previous week in the midst of all of this. However, news surfaced that the UK approves cryptos. The office of prime...

Oct 19 2022

Japan’s Crypto Watchdog Unveils Flexible Token Listing Regime: Bloomberg

Summary: Crypto exchanges in Japan could soon enjoy relaxed token listing policies as part of Prime Minister Fumio Kishida's intentions to support digital asset growth in the country. The Japan Virtual and Crypto assets Exchange Association (JVCEA) plans to implement shorter token listing procedures by December 2022, Bloomberg reported. Pre-screening for new cryptos could also be scrapped by 2024, said the regulator's vice...

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