Regulation Financial News

19.10 / 10:43

regulation California's Crypto Regulation: Will It Push Firms Out?

California has signed the Digital Financial Assets Law, raising concerns within the industry regarding the potential consequences of this legislation.

18.10 / 18:13

Mining regulation Coindesk Bill Bitcoin reports Department Pennsylvania Rep Revises Energy Bill, Drops Crypto Mining Ban

Greg Vitali, a member of Pennsylvania’s House of Representatives, has revised an energy conservation bill in the state, opting to drop a proposed two-year ban on crypto mining permits.

18.10 / 14:21

Provident regulation Gap BIS information reports Global Regulator: Crypto Exposure Reporting Should Be Mandatory for Banks

The Basel Committee on Banking Supervision has underscored the importance of disclosing banks' cryptoasset exposures, emphasizing the need for standardized reporting and greater transparency in the crypto space.

18.10 / 11:05

regulation IMF BIS IMF director urges ‘financial inclusion’ via digitalization

During her opening speech at the International Monetary Fund’s (IMF) seminar on financial inclusion in Marrakesh, Morocco, IMF Managing Director Kristalina Georgieva said digitalization is “the most important way” to scale up financial inclusion.

18.10 / 11:05

Adoption Binance regulation Middle east Dubai industry growth regulatory Middle East regulatory clarity drives crypto industry growth — Binance FZE head

Major cryptocurrency exchanges and businesses are being lured to a proverbial crypto oasis around the Persian Gulf, according to Binance FZE’s general manager.

18.10 / 09:33

Technology regulation European Union UK to target potential AI threats at planned November summit

The United Kingdom will be hosting the world’s inaugural international summit on artificial intelligence (AI) safety in November 2023. This event seeks to establish the U.K.’s presence as a mediator between the United States, China and the European Union in the critical field of technology post-Brexit.

18.10 / 09:33

regulation Europe European Union Taxes Council of Europe adopts DAC8 crypto tax reporting rule

The eighth iteration of the Directive on Administrative Cooperation (DAC8), a cryptocurrency tax reporting rule, was formally adopted by the Council of the European Union on Oct. 17. The regulation will enter into force after it's published in the Official Journal of the EU.

18.10 / 09:33

Adoption regulation Europe DAO ECB regulatory Future of DAOs limited by lack of regulatory framework: ECB Occasional Paper

Decentralized autonomous organizations (DAOs) need a comprehensive regulatory framework if they are to make a place in the future of the financial sector, suggests the European Central Bank (ECB) occasional paper (OP).

17.10 / 21:43

Law regulation Congress us house Pro-crypto lawmaker stays interim US House Speaker as frontrunner loses first round of voting

North Carolina Representative Patrick McHenry, chair of the United States House Financial Services Committee and crypto proponent in Congress, is still temporarily in the third most powerful role in government after one of his Republican colleagues failed to secure enough votes.

17.10 / 21:09

regulation us government NVIDIA OpenAI US expands export controls for AI semiconductor chips to China

The United States Department of Commerce’s Bureau of Industry and Security (BIS) released a notice on Oct. 17 expanding the already existing export controls of artificial intelligence (AI) chips to China.

17.10 / 21:09

Government Law regulation Analysis Opinion AML UK government Europe's AML regulations come at a high cost — for your privacy and otherwise

The European Union’s financial regulatory landscape is in flux with the introduction of multiple Anti-Money Laundering (AML) directives and related laws. These regulations, although designed to protect the financial system, come at a hidden, and sometimes steep, cost to consumers and financial institutions alike. It’s imperative to understand their wider implications, and to question whether the costs — both monetary and ethical — are simply too high.

17.10 / 21:09

Digital Currency regulation Digital Asset legislation South Korean regulator outlines steps to enhance digital asset legislation

South Korea’s Financial Supervisory Service (FSS) is preparing regulations to supplement the Virtual Asset Users Protection Act passed earlier this year, according to local reports. New regulations should be ready by January, well ahead of the law entering into force, the FSS head said.

17.10 / 18:59

Stablecoin CBDC regulation Federal Reserve Digital Dollar Dollar Fed governor Bowman doubles down on CBDC skepticism, likes stablecoin no better

Federal Reserve Board governor Michelle Bowman shared her views on financial innovation in a speech at Harvard Law School on Oct. 17. Bowman has spoken several times on the topic, and her position seems to be growing more bearish.

17.10 / 18:47

Provident Binance Digital regulation Platform Mobile country Binance Adheres to U.K. Rules, Pauses New User Sign-Ups

Binance has announced that it will halt the acceptance of new users in line with the newly implemented cryptocurrency marketing regulations in the United Kingdom.

17.10 / 17:11

cryptocurrency defi regulation Financial Bank of Canada Assesses DeFi’s Innovation and Challenges on Financial Markets

The Bank of Canada published a staff analytical note that mirrors the development of decentralized finance (DeFi) alongside possible routes of wider market regulations.

17.10 / 17:07

Law regulation crimes FTX Court Nishad Singh says there was 'a lot' he didn't remember about FTX in 2022 — SBF trial

Lawyers representing former FTX CEO Sam “SBF’ Sam Bankman-Fried conducted their cross-examination of Nishad Singh, pressing the former engineering director on events leading to Alameda Research using funds from the crypto exchange.

17.10 / 14:33

regulation Bank of England Financial Services Credit Suisse Wealth managers Treasury BoE's Woods outlines plans to overhaul banking regulation after SVB and Credit Suisse collapses

Sam Woods, deputy governor of the BoE and head of the Prudential Regulation Authority

17.10 / 14:23

regulation Investments Europe MICA Bitcoin ESMA 2024 Crypto investor protections won’t take effect in EU until late 2024

Cryptocurrency investors in Europe are not yet protected under European Union cryptocurrency asset market rules, and it will take some time for the protections to take effect.

17.10 / 14:23

business regulation Telegram Russian telecoms giant MTS announces ads service targeting Telegram users

Russia’s largest telecommunications firm, MTS, claims it will launch an advertising service targeting Russian Telegram users, but the social messaging application denies it has any agreements in place.

17.10 / 14:23

Stablecoin Binance regulation Bitcoin Dollar Withdrawals Binance US asks users to convert USD into stablecoins for withdrawals

Cryptocurrency exchange Binance.US has updated its terms of service, hinting that direct withdrawals in the U.S. dollar are no longer supported on the platform.

17.10 / 14:23

business Blockchain regulation Banks banking BIS committee Banks’ crypto exposure must be disclosed — BIS’ Basel Committee

The Basel Committee on Banking Supervision of the Bank for International Settlements (BIS) released a consultation paper on Oct. 17, proposing to make it compulsory for banks to disclose their crypto exposure.

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