Regulation Financial News

18.05 / 09:13

regulation Report White Paper South Korean legislature considering new licensing system for crypto

A report commissioned by South Korea’s federal government recommends the domestic crypto industry adopt a licensing system for exchanges and token issuers as a way of protecting investors.

18.05 / 00:33

UPS FIVE CFTC regulation committee Commissioner Kristin Johnson to sponsor CFTC Market Risk Advisory Committee

United States Commodity Futures Trading Commission (CFTC) commissioner Kristin N. Johnson was named the sponsor of the agency’s Market Risk Advisory Committee (MRAC) on Tuesday. She replaced CFTC chair Rostin Behnam in that role.

17.05 / 20:11

Government regulation Financial Global financial regulators will discuss crypto at G7: Report

Central bank governors and finance ministers from the Group of Seven, or G7, are reportedly planning to discuss the regulation of cryptocurrencies.

17.05 / 14:51

business Stablecoin regulation Terraform Labs Terra hearing Do Kwon summoned to parliamentary hearing following UST and LUNA crash

The dramatic fall of Terra (LUNA) along with the algorithmic stablecoin UST has been a major talking point among the crypto industry. And now South Korean conservative party has requested a parliamentary hearing on the matter.

17.05 / 13:21

Blockchain Hackers regulation US agencies warn against the influx of North Koreans in IT and crypto jobs online

The United States Department of Justice, State and the Treasury issued a joint advisery warning against the influx of North Korean workers in various freelance tech jobs, especially in the crypto industry

17.05 / 12:57

Blockchain Stablecoin regulation Agency US congress research agency weighs in on UST crash, notes gaps in regulation

The Congressional Research Service (CRS), a legislative agency that supports the United States Congress, has published a document that contains a rundown on algorithmic stablecoins and points out key factors to look at in the TerraUSD (UST) crash.

17.05 / 12:25

Stablecoin Altcoins regulation Terra hearing politician Financial South Korean Financial Regulators Begin Terra Probes, Politician Calls for Kwon to Face Parliamentary Hearing

The Terraform Labs mastermind Do Kwon (real name Kwon Do-hyeong) could be facing trouble from financial and law enforcement authorities in South Korea and Singapore as a torrid month for the Terra (LUNA) platform just keeps getting worse.

17.05 / 09:09

regulation Indian Government Indian RBI warns of crypto 'dollarization' of Indian economy

Officials from the Reserve Bank of India (RBI) have reportedly sounded the alarm bells again over crypto adoption which they claim will ultimately lead to the “dollarization” of the local economy.

17.05 / 04:19

regulation Taxes Portugal to lose crypto tax haven status as state announces gains duties

To the chagrin of many Golden Visa seekers, Portuguese Finance Minister Fernando Medina has confirmed that his country will begin taxing cryptocurrency but has not committed to a date.

17.05 / 00:47

Law regulation Department Of Justice US federal judge approves of Justice Dept criminal complaint on using crypto to evade sanctions

The United States Department of Justice may move forward on a criminal prosecution case against a U.S. citizen who allegedly violated sanctions through cryptocurrency.

17.05 / 00:05

regulation Donations California crypto donations California regulator will revisit long-running ban on crypto donations on May 19

A California state regulator may be looking at overturning a ban on cryptocurrency donations to political campaigns which has been in effect since 2018.

16.05 / 18:33

regulation Europe ECB Euro digital euro Digital euro could come as soon as 2026 — ECB official

Fabio Panetta, an executive board member of the European Central Bank, or ECB, has said that a digital euro could come within four years, potentially designed with a person-to-person payment solution.

16.05 / 14:29

business Blockchain Stablecoin regulation gone Reserve 80,000 Bitcoin gone: What’s left in Luna’s reserve wallet?

The Luna saga continues. In a Twitter thread, the team behind the failed algorithmic stablecoin UST and the token LUNA shared precisely how much Bitcoin and crypto assets they had disposed of.

16.05 / 11:33

Stablecoin regulation bills UK treasury UK Treasury en route to legalizing stablecoins amid Terra's UST crash

United Kingdom’s Department of Treasury, or Her Majesty's Treasury, has reportedly decided to go ahead with regulating stablecoins as legal tender. While welcomed by the crypto community, the decision comes as a shocker due to its proximity to the recent fall of one of the most popular algorithmic stablecoin, TerraUSD (UST).

16.05 / 09:47

Government regulation Taxes Australian Crypto capital gains one of four key areas for Australian Tax Office

The Australian Taxation Office (ATO) has outlined crypto capital gains as one of four key areas of focus in 2022.

15.05 / 09:53

Law regulation Court UK Court recognizes NFTs as ‘private property’ — What now?

At the beginning of May, the British Web3 community celebrated an important legal precedent — the High Court of Justice in London, the closest analog to the United States Supreme Court, has ruled that nonfungible tokens (NFT) represent “private property.” There is a caveat, though: In the court’s ruling, this private property status does not extend to the actual underlying content that NFT represents. Cointelegraph reached out to legal experts to understand what this decision could possibly change in the British legal landscape.

14.05 / 12:11

Adoption regulation privacy Bitcoin On-chain privacy is key to the wider mass adoption of crypto

Innovations in the crypto space appear daily. Whether through decentralized applications or new ways to implement and use nonfungible tokens (NFTs) within decentralized finance, blockchain technology is innovating at the speed of light. The only thing missing? Widespread adoption. One thing holding this back is the very public nature of the blockchain. DeFi, as it operates now, lacks meaningful privacy. In order to catalyze broad adoption for businesses, governments and individuals, those executing blockchain transactions should expect regular, consistent privacy.

13.05 / 00:27

regulation Court Bitcoin rights Shanghai court affirms that Bitcoin is virtual property, subject to property rights

The Shanghai High People’s Court has issued a document in which it states that Bitcoin is subject to property rights laws and regulations. That finding was made in relation to a lawsuit filed in a district court in October 2020 involving the recovery of a loan of 1 Bitcoin (BTC). The lower court recognized Bitcoin as having value, scarcity and disposability, and therefore being subject to property rights and meeting the definition of virtual property.

13.05 / 00:07

Government regulation Federal Reserve US Senate confirms Jerome Powell for another four years as Fed chair

The United States Senate has confirmed the nomination of Jerome Powell as the chair of the board of governors of the Federal Reserve System until 2026.

12.05 / 19:25

Adoption NFT defi regulation Crypto needs regulation but should be done right: Report and database

Regulatory attitudes toward crypto are constantly evolving, often at a slower pace than the crypto industry itself. Institutions and the broader public will not seriously consider working with cryptocurrencies without clear and comprehensive regulation. Furthermore, the industry suffers from widespread scams, phishing and hacks that very often have no legal repercussions. This bolsters the audacity of wrongdoers and augments the image of crypto as an arena for shady characters.

12.05 / 09:07

regulation Investments Court Terrible crypto trader gets 42 months for fraud, claiming he was a total gun

A crypto trader who defrauded over 170 people was sentenced to 42 months in prison on May 11 for operating a series of cryptocurrency funds claiming to make big returns but in reality were losing money and instead operated as a Ponzi scheme.

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