Regulation Financial News

29.05 / 08:21

business Blockchain defi regulation Identity is the antidote for DEXs’ regulation problem

Regulators from Europe, the United States and elsewhere are busily hammering out details on how to designate decentralized exchanges (DEXs) as “brokers,” transaction agents or similar entities that affect a transfer and cooperate with each other. The U.S. called for multinational cooperation in its executive order on responsible digital asset development, as did the European Union with its recent Financial Stability and Integration Review. And that is just what’s publicly accessible.

28.05 / 11:55

defi regulation Insurance Finance Redefined: Uniswap breaches $1T volume, WEF 2022 discussion on Terra, and more

The decentralized finance (DeFi) ecosystem continues to struggle with the ongoing market volatility and after-effects of the Terra ecosystem collapse. Over the past week, major DeFi protocols showed signs of increased trading activity, with Uniswap breaching the $1 trillion trading volume mark.

28.05 / 08:17

Blockchain Adoption regulation India to roll out CBDC using a graded approach: RBI Annual Report

Further cementing India’s decision to introduce an in-house central bank digital currency (CBDC) in 2022-23, the Reserve Bank of India (RBI) proposed a three-step graded approach for rolling out CBDC “with little or no disruption” to the traditional financial system.

27.05 / 22:55

ETF regulation SEC Bitcoin spot bitcoin One River's spot Bitcoin ETF application rejected by SEC

The United States Securities and Exchange Commission (SEC) maintained its perfect record for rejecting Bitcoin (BTC) spot exchange-traded fund (ETF) applications Friday when it disapproved a rule change to allow cryptocurrency-focused hedge fund One River Digital to offer the One River Carbon Neutral Bitcoin Trust on the New York Stock Exchange Arca. The decision comes somewhat ahead of schedule, as the agency had extended the original deadline to June 2 to allow more time for consideration.

27.05 / 16:37

Adoption regulation Tax PM Says Web 3 Is an Opportunity for Japanese ‘Economic Growth’

The Japanese Prime Minister has spoken to the nation’s parliament about Web 3, claiming that it will spark economic growth – a further indication that pro-business legal reform could be on the cards in the nation.

27.05 / 15:53

Blockchain regulation regulatory Stepn to block mainland China users to comply with regulatory policies

The nonfungible token (NFT) game Stepn will ban users in mainland China in an attempt to follow Chinese regulatory requirements.

26.05 / 23:39

Blockchain CBDC Adoption regulation Future committee Brainard tells House committee about potential role of CBDC, future of stablecoins

United States Federal Reserve vice chair Lael Brainard submitted a written statement in advance to the Financial Services Committee's virtual hearing, "On the Benefits and Risks of a U.S. Central Bank Digital Currency (CBDC)," that took place Thursday. That was a sound strategic move, considering that more than 25 legislators lined up to ask questions.

26.05 / 11:57

regulation Tax Two Crypto Tax Proposals Defeated in Portugal, but Gov’t Likely to Follow up With Own Bill

Portugal’s status as a crypto tax haven remains in serious doubt – despite the defeat of two bills calling for the rollout of taxes.

26.05 / 00:47

CFTC regulation Futures Fried Bankman-Fried faces down roomful of futures industry insiders at CFTC roundtable

FTX CEO Sam Bankman-Fried did a lot of talking at the United States Commodity Futures Trading Commission (CFTC) staff roundtable on non-intermediation Wednesday. He fielded questions and issues from 31 industry professionals about the FTX.US application to offer clearing of margined products, including crypto-based products, without a futures commission merchant (FCM) intermediary.

25.05 / 23:17

Adoption regulation community Davos Governments, Companies Will Need To Develop Standards, Rules For Metaverse - Davos Panel

The metaverse creates a range of opportunities for users and companies, but businesses and governments will need to come up with rules governing transactions and content, according to the participants of a panel held during this year’s edition of the World Economic Forum in Davos.

25.05 / 15:39

regulation Altcoin Terra Luna Classic Terra Classic Korean watchdog begins risk assessment of crypto as Terra 2.0 passes vote

The Korean Financial Supervisory Service (FSS) has announced that it will be standardizing the way in which virtual asset risk is assessed.

25.05 / 14:27

regulation Exchange Upbit 2020 Upbit Operator Faces Scrutiny Over Affiliate’s 2020 USD 103M LUNA Sale

South Korean crypto exchanges are now in the firing line as the terra (LUNA) crash fallout continues to sow the seeds of chaos in the domestic crypto industry.

25.05 / 13:49

Stablecoin regulation coinbase rights Crypto Industry’s Custody, Ownership Rights Are 'Fundamental Problems' That Need Solving - US Official

The recent collapse of the TerraUSD (UST) stablecoin has demonstrated that custody and ownership rights are underdeveloped for the size, scope, and ambitions of the crypto industry, according to the US Acting Comptroller of the Currency Michael J. Hsu.

25.05 / 11:23

NFT regulation banking South Korean Regulators to Inspect Companies Linked to Terraform

South Korea’s financial regulators are planning to launch onsite inspections into domestic companies that have a business relationship with Terraform Labs – and particularly those that have made use of terra (LUNA) ecosystem coins.

24.05 / 23:53

Blockchain Adoption regulation Bitcoin ECB: One in ten households in eurozone population centers now own cryptocurrency

On Tuesday, the European Central Bank, or ECB, published the results of a new survey conducted in six eurozone areas; the Netherlands, Spain, Italy, Belgium, France, and Germany. Together, approximately 10% of respondents from the surveyed countries said they own cryptocurrencies. Out of this group, only 6% of respondents said they own digital assets worth more than 30,000 euros. Meanwhile, 37% of respondents said they owned up to 999 euros in crypto.

24.05 / 23:05

Stablecoin Altcoins regulation Terra More Crypto Regulation Incoming in South Korea Following Terra Collapse, Gov’t Indicates

More regulatory scrutiny could be incoming for the crypto sector in South Korea in the wake of the terra (LUNA) and terraUSD (UST) crash – with exchanges set to come under the same kind of scrutiny as Terraform Labs and its Founder and CEO Do Kwon.

24.05 / 21:41

Blockchain regulation Environment Bitcoin WEF 2022: Trust and clarity are missing in discussions of carbon emissions and crypto

The need for a clear, balanced concept of the issue was a constant theme at the panel discussion of crypto’s carbon footprint at the 2022 World Economic Forum. There was general agreement that there has been a rush to judgment on the consensus mechanisms of crypto mining and education and careful policymaking can counteract it.

24.05 / 18:03

Adoption regulation Tax Cooperation As Countries Advance Fiscal Cooperation, Higher Taxes Could Come Crypto's Way - Davos

Developed countries from across the world are moving towards increased fiscal cooperation that could lead to tighter taxation of corporations but also of personal assets under the so-called wealth tax, as indicated by the participants of a panel held during this year’s edition of the World Economic Forum in Davos. This development could lead to the tightening of the world’s fiscal regimes on crypto assets and crypto businesses, among others.

24.05 / 16:21

Adoption regulation Bitcoin play El Salvador’s Bitcoin play: What does the current slump mean for adoption?

It was September 6, 2021, when the Central American nation of El Salvador decided to go ahead and purchase 200 Bitcoin (BTC), worth about $10.3 million at the time. The day was hailed as momentous in the history of the crypto market and was met with much fanfare. In fact, many proponents claimed that the purchase was just an inkling of what really lay ahead in terms of a global crypto-driven economy.

24.05 / 16:21

business regulation Bitcoin Russia's updated crypto mining bill cuts tax amnesty for Bitcoin miners

In less than a month, the draft of a crypto mining bill in the Russian parliament has lost several key points, such as the obligation for mining operators to join a special registry and a one-year tax amnesty for all those who've registered. As the reasoning goes, the previous draft would lead to federal budget losses.

24.05 / 11:53

Ripple regulation Circle Cash People Want Digital Cash, Governments Need to Accept That, Circle CEO Says

There is a reason that “cash is king,” and people around the world want a digital form of cash that is private, offers final settlement, and cannot be “turned off” by a central party, argued Jeremy Allaire, co-founder and CEO of digital payments company Circle.

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