Regulation Financial News

24.05 / 05:45

regulation exchanges Terra freeze South Korean police request exchanges freeze LFG related funds

Crypto exchanges in South Korea have been issued notices from police requesting the sequestering of funds related to the Luna Foundation Guard.

23.05 / 23:59

Blockchain CBDC Adoption regulation WEF 2022: Bankers at WEF see the need for caution and speed on central bank digital currencies

The process of introducing a central bank digital currency (CBDC) is fraught with unknowns, some of which were elucidated in a panel of experts gathered Monday at the World Economic Forum in Davos, Switzerland. The panel concluded that good design is key to a successful CBDC, and there are fewer challenges for wholesale CBDC introduction.

23.05 / 23:19

regulation Europe Decentralization World Economic Forum defi protocols WEF 2022: Most DeFi protocols aren’t really decentralized, says European Parliament VP

Most decentralized finance (DeFi) protocols aren’t truly decentralized, which means we need proper regulations in place to understand the inner workings of this emerging technology, according to European Parliament vice president Eva Kaili.

23.05 / 23:09

regulation Tax boost reform Japanese Opposition Leader Urges Crypto Tax Reform to Provide Nation with Web3 Boost

Japan could be set to overhaul its crypto tax system – with opposition leaders joining a chorus of MPs and business leaders calling for a change in tax law to stop an “outflow” of crypto-related talent and convince Japanese crypto firms not to relocate overseas.

23.05 / 17:33

Adoption regulation litecoin Litecoin confidential transactions spook Korean exchanges

The recent privacy-focused MimbleWimble upgrade on the Litecoin (LTC) blockchain has prompted two of Korea's largest crypto exchanges to issue investment warnings about the fifth-largest cryptocurrency.

23.05 / 12:53

cryptocurrency regulation Even Christine Lagarde's Son Doesn't Listen to Her Warnings About Crypto

Christine Lagarde, the President of the European Central Bank (ECB), has stated that cryptoassets should be regulated and are worth nothing – but has admitted that her son is a crypto investor.

22.05 / 16:39

Blockchain Adoption defi regulation CEX Terra’s meltdown highlights benefits of CEX risk-management systems

The collapse of Terra’s ecosystem — namely, native coin LUNA and algorithmic stablecoin TerraUSD (UST) — rocked the wider blockchain and cryptocurrency ecosystem. Not only did Terra-ecosystem tokens (such as Anchor’s ANC) collapse in value, but the widespread fear, uncertainty and doubt sent market-leading cryptocurrencies Bitcoin (BTC) and Ether (ETH) below $27,000 and $1,800, respectively, on some exchanges.

21.05 / 00:37

Law Stablecoin regulation crypto rules FCA will 'absolutely' consider recent stablecoin depegging when drafting crypto rules: Report

Sarah Pritchard, the executive director of markets at the United Kingdom’s Financial Conduct Authority, or FCA, reportedly said the regulator will look at the recent volatility in the crypto markets when creating rules for the space in 2022.

21.05 / 00:37

regulation Financial Services legislation Bitcoin Financial Florida Rep. Donalds introduces Financial Freedom Act companion bill in the House

Rep. Byron Donalds, a Florida Republican, introduced the Financial Freedom Act into the United States House of Representatives on Friday to prevent the U.S. Department of Labor from limiting the types of investments that can be included in Americans’ self-directed 401(k) retirement plans. The bill is the companion to Alabama Sen. Tommy Tuberville’s May 5 Senate bill.

20.05 / 23:35

regulation privacy Tax Spain’s Basque Country Readies its Own Crypto Tax Laws, Exchanges to Be Forced to Report on Clients

While central governments continue to hum and haw about the how, whens, and whys of crypto taxation and regulation, some provincial governments have decided to go it alone – particularly in the Basque Country, Spain.

20.05 / 23:21

Binance defi regulation Polygon Terra Luna Terra Finance Redefined: Lifeline for Terra projects, proposed Terra hard fork and more

The past week in the decentralized finance (DeFi) ecosystem was dominated by Terra's collapse and its aftermath on various ecosystems it was connected. Now BNB chain has come to the rescue of several stranded projects on Terra by offering financial and technical assistance.

20.05 / 16:13

regulation Central Bank Tax Russian Crypto Regulation Can’t Be Delayed any Longer, Claims Top MP

Russia’s parliament, the State Duma, will debate a crypto regulation bill that was formulated by the Ministry of Finance at the start of the year in the coming weeks, a senior MP has claimed.

20.05 / 08:43

business regulation applications Commonwealth Bank puts crypto trading trial on ice as regulators dither

The Commonwealth Bank of Australia (CBA) has put its plans for a second pilot program of crypto trading services on hold indefinitely and cut off access to those in the first round of testing.

20.05 / 00:49

Stablecoin regulation financial stability Financial G7 financial officials call on Financial Stability Board to step up crypto regulation—report

The top financial officials from the Group of Seven (G7) largest advanced industrial economies has called on the Financial Stability Board to speed up crypto-asset regulation, Reuters reported Thursday, citing a copy of a communique it had obtained. The officials from Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States were meeting in Koenigswinter, Germany, following a G7 foreign ministers’ meeting earlier in the week.

19.05 / 11:47

regulation Terra tax evasion South Korean watchdog reportedly fines Terraform Labs $78M for tax evasion

Terraform Labs and co-founder Do Kwon continue to attract more legal trouble in the wake of the collapse of the Terra ecosystem. After early reports of a possible congressional hearing and an investigation from 'Grim Reapers' financial crimes unit, the crypto firm has now come under the radar of the national tax agency.

19.05 / 08:39

business regulation Environment us government crypto framework Framework The Dept. of Commerce has 17 questions to help develop a crypto framework

The US Department of Commerce is calling for submissions on how it can establish a framework that will bolster American economic competitiveness in digital assets including crypto and stablecoins.

19.05 / 05:09

Payments Mining regulation Russia will inevitably legalize crypto payments says trade minister

Russia will legalize crypto payments “sooner or later” according to the Ministry of Industry and Trade of the Russian Federation, Denis Manturov.

19.05 / 05:09

business regulation investigation Terra Financial 'Grim Reapers' financial crimes unit revived to investigate Terra collapse

Legal troubles are mounting for the co-founder of failed Terra crypto project Do Kwon as the South Korean government revives the dormant "Grim Reapers of Yeoui-do" to investigate Terra’s fall.

19.05 / 03:07

Ethereum regulation coinbase security Coinbase Bets On 'Enterprise-Grade' Liquid Staking Business

Major US-based crypto exchange Coinbase is backing the development of the "first-ever" enterprise-grade liquid staking protocol, bringing know-your-customer (KYC) checks to the world of decentralized finance (DeFi).

19.05 / 01:01

Government regulation SEC Sec Chair SEC chair uses crypto enforcement in justification for FY2023 budget

Gary Gensler, chair of the United States Securities and Exchange Commission, or SEC, has cited concerns about cryptocurrency enforcement in its budget request for the next fiscal year.

19.05 / 00:15

business regulation Elections Fried PAC Candidate supported by Bankman-Fried-linked PAC loses Oregon primary

Andrea Salinas has won the Democratic primary election for the newly created Oregon 6th District seat in the United States House of Representatives. Practically since it started, the election race was the object of intensive media attention, which most often centered around Salinas’ opponent Carrick Flynn, whose campaign was generously funded by the Protect Our Future political action committee (PAC) backed by billionaire FTX CEO Sam Bankman-Fried. The PAC paid for a flood of advertising supporting Flynn.

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