Regulation Financial News

09.06 / 00:45

Law regulation crimes AML information International Information, AML/CFT steps are key to fighting international digital crime, DOJ report says

The United States Department of Justice (DOJ) released a report on international law enforcement related to digital assets Tuesday. It is the first of the approximately one dozen reports mandated in President Joe Biden’s March 9 executive order “Ensuring Responsible Development of Digital Assets.”

08.06 / 22:43

Stablecoin regulation New York State Backed guidance New York state releases guidance for issuing dollar-backed stablecoins

The New York State Department of Financial Services (DFS) on Wednesday released regulatory guidance for U.S. dollar-backed stablecoins issued by DFS-regulated entities. According to a DFS statement, it is the first regulator in the United States to impose such expectations on a stablecoin issuer.

08.06 / 16:13

Mining regulation lawmaker crypto legislation French Lawmaker Releases New Report to Push for Crypto Legislation

Pierre Person, a lawmaker from France’s ruling La République En Marche! (LREM) party, has unveiled a new report which introduces a number of legislative proposals related to crypto and digital assets, pushing for the adoption of crypto legislation in the French parliament.

08.06 / 16:13

regulation Digital Asset Bill to ban digital assets as payment introduced in Russian parliament

In recent months, Russian legislators have been preparing measures to fully institutionalize crypto as a properly taxable investment asset and a possible tool for foreign trade in Russia. Now, they want to make clear that the upcoming regulatory turn won’t include any windows for adopting digital financial products as a payment method.

08.06 / 12:57

regulation litecoin privacy Major South Korean crypto exchanges delist Litecoin

Major cryptocurrency exchanges in South Korea have delisted Litecoin (LTC) weeks after flagging its privacy-focused MimbleWimble (MWEB) upgrade.

08.06 / 11:56

Altcoins regulation Trading Japanese Crypto Exchanges Want to Ditch Restricting Token Listing Protocols

Japanese crypto exchanges appear determined to take advantage of favorable political winds and expand the range of coins they trade on their platforms – although the national financial regulator has indicated that it will not let them have the final say on the matter.

08.06 / 00:17

business regulation Cybersecurity Senate committee Chainalysis exec touts blockchain analysis to Senate homeland security committee

The collection and processing of information was a major theme at the United States Senate Committee on Homeland Security and Governmental Affairs (HSGAC) hearing June 7 titled “Rising Threats: Ransomware Attacks and Ransom Payments Enabled by Cryptocurrency.” The committee hosted panel of private sector experts who discussed the problem of ransomware attacks and the challenges of collecting and using the information necessary to fight them.

07.06 / 23:27

CFTC regulation SEC legislation Power Lummis-Gillibrand bill establishes SEC-CFTC balance of power over crypto markets

The long-awaited Responsible Financial Innovation Act to create a regulatory framework for digital assets was introduced in the United States Senate on Tuesday. The official text of the 69-page document was also released.

07.06 / 20:05

business Blockchain Binance regulation Binance fires back at Reuters’ money laundering allegations

Crypto exchange Binance published a lengthy response to an article published by Reuters that claims that the exchange has been a “hub for hackers, fraudsters and drug traffickers,” saying that there’s at least “$2.35 billion in illicit funds” laundered within the exchange.

07.06 / 18:33

Mining regulation Central Bank Russia Edges Closer to Crypto Regulation as Ruling Party, Energy Ministry Push for Legislation

Crypto regulation is likely to come sooner rather than later in Russia, leading politicians hope – with the ruling United Russia party throwing its weight behind legislative proposals and the Ministry of Energy voicing its support for crypto mining.

07.06 / 14:47

defi Mining regulation Kazakhstan’s central bank ‘isn’t going to ignore’ the crypto market

While Kazakhstan’s government is catching up with the tremendous volume of crypto mining in the country by introducing new taxes and regulations, the local central bank intends to explore the possibilities that crypto offers.

07.06 / 12:31

defi CFTC regulation Congress regulatory Leaked copy of US draft bill shows DeFi and DAOs under regulatory lens

A leaked copy of a United States draft bill concerning cryptocurrency started doing the rounds on Twitter earlier on Tuesday. The 600-page copy of the leaked bill highlights some of the key areas of concern for regulators including decentralized finance (DeFi), stablecoins, decentralized autonomous organizations (DAOs) and crypto exchanges.

07.06 / 08:53

Stablecoin regulation Money laundering New Japanese law may allow seizure of stolen crypto

Japan’s Justice Ministry is reportedly considering a revision of an asset seizure law relating to organized crime to include a stipulation that crypto can be commandeered in such instances.

07.06 / 03:09

Crime regulation Police Power Japanese Justice Ministry Wants Law Enforcers to Have Power to Seize Crypto

Japan’s Ministry of Justice wants to give courts and police officers the power to seize cryptoassets in criminal cases – and could allow the state to take control of tokens that have been used in money laundering operations.

07.06 / 02:47

Binance CFTC regulation SEC Bad day for Binance with SEC investigation and Reuters exposé

The United States Securities and Exchange Commission (SEC) is investigating whether Binance Holdings broke securities rules when it launched its BNB token in an initial coin offering (ICO) five years ago, Bloomberg reported on June 6.

06.06 / 22:25

business Blockchain regulation Gemini Exploit Financial IRA Financial Trust to sue Gemini over $36M crypto assets exploit back in February

On Monday, IRA Financial Trust, a platform providing self-directed digital asset retirement and pension accounts, filed a lawsuit against cryptocurrency exchange Gemini for alleged negligence in safeguarding customers' digital assets during a critical exploit. The firm's client accounts were held in Gemini's custody. On February 8, a breach led to the siphoning of $36 million in crypto assets from customers' accounts via unauthorized withdrawals.

06.06 / 19:37

Blockchain regulation Investments Hong Kong's Securities and Futures Commission warn of nonfungible token risks

On Monday, Hong Kong's Securities and Futures Commission (SFC) released a statement warning investors about the risks of nonfungible tokens, or NFTs, which have soared in popularity in recent years. The regulatory body wrote:

06.06 / 15:27

Binance regulation Exchange reputation regulatory Crypto Firms Flock to Dubai for Regulatory Clarity as UAE Cleans Its ‘Grey’ Reputation

If you’re in the crypto industry, it seems that Dubai is the place to be right now. Not only is the most populated city in the UAE and one of the world’s biggest tourist hotspots, but it has recently seen an influx of crypto firms looking to establish a regional (or global) base, including Binance, FTX, Crypto.com, and Bybit.

06.06 / 07:07

Government Adoption regulation Bermuda confirms crypto hub ambitions despite market downturn

The Bermuda government is pushing on with its ambitious plans to become a cryptocurrency hub despite the massive market downturn in 2022.

03.06 / 23:59

Adoption regulation Investments Federal Reserve Fed governor explains who needs crypto regulation and why demand for it is growing

Regulation is needed to open the crypto ecosystem to a larger public, United States Federal Reserve Board Governor Christopher Waller told an audience at the SNB-CIF Conference on Cryptoassets and Financial Innovation in Zurich, Switzerland. Financial intermediaries can help manage risk for new crypto users, but cannot eliminate it, Waller said, and new and fast-growing financial products need public confidence to survive.

03.06 / 12:35

Stablecoin regulation FTX Japanese Parliament Green-lights Stablecoin Legislation, FTX Makes Official Japanese Debut

Japan’s upper parliamentary house, the House of Councillors, has approved a legal amendment that will police stablecoin issuance and ensure that only regulated companies are allowed to issue cryptoassets.

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