Regulation Financial News

18.04 / 16:09

Blockchain regulation coinbase Bitcoin information Is asymmetric information driving crypto’s wild price swings?

It has long been believed that investors possessing inside knowledge help drive cryptocurrencies’ price volatility, and a number of academic papers have been published on this topic. This is why Coinbase’s intention to regularly publish in advancea catalog of tokens being assessed for listing on its prominent trading platform is noteworthy.

18.04 / 14:41

regulation Developers Github suspends accounts of Russian developers linked to sanctioned firms

Major developer platform Github has reportedly blocked more than a dozen accounts of Russian developer's associated with organizations sanctioned by the United States government.

18.04 / 14:04

Government regulation Energy Iran to stiffen penalties for illegal use of subsidized energy in crypto mining

The Iranian government will increase penalties for the use of subsidized energy in crypto mining. The move marks another step in the tightening of mining regulation in the country that had faced energy shortages in recent years.

16.04 / 19:03

Government regulation Bitcoin Crypto Twitter reacts as Russian gov’t reviews finalized crypto bill

The Ministry of Finance (MinFin) of Russia finalized a draft bill named “On Digital Currency” and has sent it to the Russian government for approval to be passed as law. The draft of the federal law clarifies regulations related to the trading and mining of cryptocurrencies.

15.04 / 21:17

Blockchain Technology regulation privacy Tornado Cash OFAC Tornado Cash says it's using Chainalysis oracles to block access from OFAC sanctioned addresses

On Friday, Tornado Cash announced that it was using oracle contracts from Chainalysis to block wallet addresses sanctioned by the U.S. Office of Foreign Assets Control, or OFAC. The move comes after the U.S. Department of the Treasury linked North Korean cybercriminal Lazarus Group as an alleged perpetrator for the recent $600 million+ Ronin Bridge exploit. As told by blockchain analytics firm Elliptic, the hackers have sent approximately $80.3 million worth of Ether (ETH) through Tornado Cash. "Maintaining financial privacy is essential to preserving our freedom; however, it should not come at the cost of non-compliance," said the Tornado Cash team.

15.04 / 17:15

business regulation AML Regulatory compliance compliance regulatory Bitstamp asks users to update the source of their crypto, citing regulatory compliance

Major global cryptocurrency exchange Bitstamp continues increasing compliance efforts by requesting its users to provide more data like their source of wealth.

15.04 / 13:17

regulation SEC US SEC’s Proposal On 'Exchange' Definition Could Be Unconstitutional - Think Tank

A recent proposal by the US Securities and Exchange Commission (SEC) aims to amend the definition of 'exchange' and alternative trading systems (ATSs) in American regulation, but it could instead create “an inappropriately broad standard for registration” that would place unconstitutional restraints on the protected speech of software developers and technologists, according to Washington DC-based crypto think tank Coin Center.

15.04 / 09:05

Adoption regulation DAO Montenegro makes Vitalik a citizen, part of plans to promote it as a blockchain hub

The Montenegrin government has begun fulfilling its pledge to become a hub for blockchain innovation by reportedly making Ethereum creator Vitalik Buterin its newest citizen.

15.04 / 07:21

regulation SEC AIM Coin Center takes aim at ‘unconstitutional’ SEC redefinition of an 'exchange'

Nonprofit blockchain advocacy group Coin Center has called the Securities and Exchange Commission’s (SEC) proposed redefinition of an “exchange” an “unconstitutional overreach.”

14.04 / 23:07

cryptocurrency regulation Tax Lawyers Spanish Crypto Investors ‘Fleeing to Portugal to Escape Taxes,’ Say Lawyers

Increasing levels of scrutiny from the Spanish taxman are forcing Spaniards to flock to Portugal – or at least declare their legal residence of their Iberian neighbor nation. And it is a phenomenon that could one day turn Spain into what legal experts have called a “crypto desert.”

14.04 / 07:05

Blockchain regulation Interest rates BoJ official says digital yen won’t be used to achieve negative interest rate

The Bank of Japan (BoJ) has said that its Central Bank Digital Currency (CBDC), the digital yen, will not be used to help attain negative interest rates.

14.04 / 02:09

cryptocurrency regulation Bitcoin Russia: Only Industrial Players May Be Allowed to Mine Bitcoin & Crypto

The chief architect of Russia’s crypto legislation has suggested that only industrial miners could be allowed to continue operating after the country unveils its long-awaited legislation for the Bitcoin (BTC) & crypto sector in this aggressor state.

13.04 / 23:51

Law NFT regulation regulatory China-based regulatory and trade associations target NFTs in latest risk notice

The China Banking Association, China Internet Finance Association, and Securities Association of China issued a joint statement warning the public about the “hidden risks” of investing in nonfungible tokens, or NFTs.

13.04 / 22:59

regulation foundation Innovators Regulating crypto firms: 'It's important that policymakers are involved,' says Web3 Foundation COO

Bertrand Perez, chief operations officer of the Web3 Foundation, one of the firms behind the Polkadot blockchain, said a certain level of regulation was necessary in the crypto space as long as those responsible left room for innovation.

13.04 / 15:47

regulation privacy Central Bank Central Banks Struggle With Privacy-related CBDC Headaches

As a number of countries across the globe are working on developing their respective central bank digital currencies (CBDCs), ensuring a separation between identity and transaction data could produce a better environment for privacy protection and could lead to public confidence and trust in using CBDCs, according to a recent paper released by the Bank for International Settlements (BIS).

13.04 / 07:41

Blockchain Ripple regulation SEC Ripple scores 'a very big win' in SEC case

Ripple Labs has struck a blow against the Securities and Exchange Commission's (SEC) case after the presiding judge made a ruling that one Ripple community lawyer calls “a very big win for Ripple.”

13.04 / 02:21

cryptocurrency regulation ‘Let’s Create a Crypto Ministry,’ Industry Urges South Korean President-Elect

A summit of South Korean lawmakers, industry chiefs, and leading academics has called for the country’s President-Elect Yoon Suk-yeol to create a minister – or a ministry-level agency – for the crypto sector.

12.04 / 23:51

Blockchain CBDC Adoption regulation inclusion Financial BIS releases study of CBDCs and their role in financial inclusion of the unbanked

The Bank for International Settlements, or BIS, released a paper Tuesday on central bank digital currencies, or CBDCs, and how they can be used to meet policy goals for financial inclusion. The paper drew on interviews conducted in the second half of last year at nine central banks that are currently exploring retail CBDCs. It looked at common goals across a range of economic development levels and challenges to inclusion.

12.04 / 16:23

Digital Currency regulation Bitcoin Brazilian central bank president confirms CBDC pilot will launch in 2022

The president of the Central Bank of Brazil confirmed that the country’s sovereign digital currency pilot will go live this year, Cointelegraph Brazil reported.

12.04 / 12:27

Payments regulation coinbase Indian Indian crypto exchanges’ volume plunges as 30% tax goes into effect

Fresh data on Indian crypto exchanges’ trading volume reveals a significant decline in trading practices among Indians just ten days after the tax rule implementation. India’s new 30% crypto tax rule came into effect on April 1, despite many stakeholders and exchange operators warning against its ill effects.

11.04 / 21:23

Law ETF regulation SEC Law Decoded: Crypto risks, imaginary and real, and creative ways of addressing them, April 4–11

Last week, there was a lot of regulatory talk about crypto-related risks. While this is very common in itself, some angles and proposed solutions to such risks came across as novel. In the United States, the Federal Deposit Insurance Corporation (FDIC) issued a letter to commercial and savings banks under its purview, or all federally chartered banks, asking financial institutions to notify the FDIC about all ongoing and planned crypto-related activities. Apparently, standardized guidance for all banks would not fit the bill since the risks seem to be unique in each case.

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