Regulation Financial News

23.06 / 18:59

cryptocurrency regulation Central Bank Bitcoin analysts Central Bankers' Attack on Crypto is ‘a Legacy Vision’, Failure to Recognize ‘Revolutionary Benefits’ of DeFi - Analysts

As the Bank for International Settlements’ (BIS), also known as "the central bank of central banks," tried to monopolize trust in money with its new report this week, analysts stress that it simply represents “a legacy vision” that brings a number of new risks, and the BIS fails to recognize “revolutionary benefits” of the still-nascent crypto industry.

23.06 / 17:47

Ethereum defi regulation Bitcoin Swan Bitcoin CEO against crypto lenders: Users are way under-compensated for the risk

Swan Bitcoin CEO Cory Klippsten believes that the liquidity crisis involving Celsius Network may be just the beginning of a broader collapse in the crypto lending space.

23.06 / 15:53

Forecast MARKET regulation Bitcoin Deaths recovery Bitcoin Lifeboat, Long Recovery Road, & Exaggerated BTC Deaths: Saylor, CZ, and Professor Weigh In

Bitcoin (BTC) is “a lifeboat,” says Michael Saylor, while Binance'sChangpeng Zhao (CZ) warns that BTC could still stay below its all-time high for two years, and an adjunct professor of law calls the reports about Bitcoin’s death “exaggerated.”

23.06 / 13:45

business Law regulation exchanges settlement Bybit enters into settlement agreement with Ontario Securities Commission

Bybit announced that it reached a settlement agreement with the Ontario Securities Commission (OSC) on Thursday, a day after the OSC released a Statement of Allegations against the crypto asset trading platform.

23.06 / 12:51

regulation Bitcoin Regulation GitHub users respond with 'Bitcoin bill' idea to Gillibrand-Lummis bill

Now every interested user has a chance to leave their mark on a crypto bill that could define the industry guidelines in the United States in the near future, the Responsible Financial Innovation Act (RFIA). The document was uploaded on GitHub, a platform populated by software and product experts, by its co-sponsors to get public feedback.

23.06 / 12:21

regulation Legal Terra Do Kwon Says He’s No Fraudster and Has ‘Great Confidence’ in Terra 2.0

Do Kwon, the co-founder of Terraform Labs has spoken out about the Terra 2.0 network, which was launched in the wake of last month’s devastating luna classic (LUNAC) and terraUSD (UST) crash.

23.06 / 09:47

ETF regulation Investments Bitcoin Crickets on day 1... but Proshares short Bitcoin ETF volume up 380% on day 2

The first short Bitcoin ETF from ProShares got off to a very slow start on its June 21 launch but gathered pace by increasing trading volume 380% on day two.

23.06 / 03:05

Law regulation SEC Crypto Policy Hester Peirce critiques SEC agenda – more wrong than just crypto policy

United States Securities and Exchange (SEC) commissioner Hester Peirce said the newly released SEC Agency Rule List is full of “hot-button” topics implemented in an unreasonable hurry, while crypto was ignored.

23.06 / 00:33

Law regulation Canadian regulator takes enforcement actions against Bybit and Kucoin

The Ontario Securities Commission, or OSC, issued financial penalties against Bybit and Kucoin, claiming violations of securities laws and operating unregistered crypto asset trading platforms.

22.06 / 20:33

Government CBDC regulation lawmaker US lawmaker lays out case for a digital dollar

Connecticut House of Representatives member Jim Himes has released a proposal aiming to start a dialogue on the United States potentially launching a central bank digital currency, or CBDC.

22.06 / 17:59

CFTC regulation SEC Lummis-Gillibrand crypto bill comprehensive but still creates division

It was first reported before Christmas that Wyoming Senator Cynthia Lummis planned to introduce a comprehensive crypto regulation bill. The Republican Lummis was already known for her pro-crypto stance and announced right away that she was looking for a Democratic co-sponsor. New York Senator Kirsten Gillibrand, who had not previously been known to have a strong position on cryptocurrency, was named as the co-sponsor in March. The highly awaited Responsible Financial Innovation Act (RFIA) was introduced in the United States Senate on June 7.

22.06 / 15:50

regulation Europe European Union Framework ECB head calls for separate framework to regulate crypto lending

A week after the major American crypto lending platform Celsius had to freeze the withdrawal option for its users, European Central Bank (ECB) president Christine Lagarde voiced her conviction on the necessity of tighter scrutiny over this part of the crypto market.

22.06 / 13:31

Adoption regulation Asia Crypto.com scores approval from Singapore finance regulators

Major Singapore-based cryptocurrency exchange Crypto.com received in-principle approval from the Monetary Authority of Singapore (MAS) for its Major Payment Institution License. The license will let the platform provide a range of payment services in the country.

22.06 / 12:41

Adoption regulation Qatar Central Bank in ‘foundation stage‘ of launching digital currency

The 2.8-million nation of Qatar is going to join a growing range of countries, experimenting with the central bank digital currency (CBDC) concept. The Qatar Central Bank (QCB) is currently “in the foundation stage” of issuing its digital currency.

22.06 / 11:31

MARKET regulation SEC lending SEC’s Peirce Says Crypto’s Lack of ‘Bailout Mechanism’ Is a Strength; FTX CEO as a 'White Knight'

One of the most crypto-friendly members of the American regulatory Securities and Exchange Commission (SEC) has claimed that the bear market could boost sustainability in the industry – stating that she wouldn’t bail out ailing crypto companies even if she could.

22.06 / 01:37

Blockchain CBDC Adoption regulation BIS compares projects to transfer central bank digital currencies across borders

The Bank of International Settlements (BIS) Innovation Hub released a report Tuesday looking at four projects that examined wholesale central bank digital currency (CBDC) transfers across borders. The projects demonstrated the technical feasibility of the transfers, the BIS found, but practical and policy issues remain outstanding.

22.06 / 00:13

Blockchain CBDC Adoption regulation Bank of Israel experiments with central bank digital currency smart contracts and privacy

On Monday, the Bank of Israel released the results of a lab experiment that examined user privacy and the use of smart contracts in payments. This was the central bank’s first technological experiment with a central bank digital currency (CBDC).

21.06 / 19:53

Blockchain Technology Adoption regulation Terra Usd Utility BIS: 90% of Central Banks are researching the utility of CBDCs

In a new annual economic report published by the Bank of International Settlements (BIS), the financial institution revealed that approximately 90% of central banks worldwide are investigating the feasibility of adopting central bank digital currencies, or CBDCs.

21.06 / 06:39

NFT regulation WeChat China’s WeChat bans crypto and NFT-related accounts

The top social media platform in China, WeChat, has updated its policies to ban accounts that provide access to crypto or NFT-related services.

21.06 / 00:38

Law regulation Scams Chinese court invalidates 2019 car sale made using now worthless crypto token

Last week, a WeChat post published by the Shanghai Fengxian Court began circulating in crypto circles with regards to its recent ruling on a car sale in May 2019 made using digital currency. At the time, the buyer, identified only as Mr. Huang, signed a sales contract to purchase a 2019 Audi AL6 for CNY 409,800 ($59.477) in exchange for the consideration of 1,281 Unihash (UNIH) tokens with an undisclosed car dealership in Shanghai. Per the original contract, the seller was to deliver the car to Huang within three months' time.

21.06 / 00:37

Government regulation wallet Bitcoin Wallet HM Treasury changes course on collecting data around unhosted crypto wallets

The government of the United Kingdom said it intends to modify a proposal that would have required crypto firms to collect personal data from individuals holding unhosted wallets that were the recipients of digital asset transfers.

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