Regulation Financial News

20.07 / 14:11

Blockchain regulation Bitcoin Regulation Bitcoin UK government rejects lawmaker’s call to treat crypto like gambling

The United Kingdom government has rejected a proposal made by the House of Commons Treasury Committee to regulate crypto retail trading in the same way it oversees gambling, highlighting that it “firmly disagrees” with the committee’s stance.

20.07 / 10:25

business Payments regulation Federal Reserve Mainstream Reserve FedNow Service has no relation with CBDCs, Federal Reserve clarifies

The Federal Reserve of the United States clarified that its new service for instant payments between organizations — FedNow Service — has no relation with central bank digital currencies (CBDCs).

20.07 / 10:15

regulation NASDAQ crypto custody regulatory Nasdaq Abandons Crypto Custody Service Amid U.S. Regulatory Challenges

Nasdaq has scrapped plans for a cryptocurrency custody service amid recent regulatory challenges.

20.07 / 09:07

Government regulation Ban Asia Bitcoin Virtual assets Kuwait bans crypto and virtual assets transactions

The state of Kuwait is the latest jurisdiction to ban virtually all operations involving cryptocurrencies like Bitcoin (BTC).

20.07 / 06:47

business CBDC Adoption regulation Bank of China transaction volume China’s digital yuan nears $250B transaction volume: Central bank governor

Nearly $250 billion worth of transactions have taken place using China’s digital yuan in the one-and-a-half years since the start of its pilot, the country’s central bank governor has claimed.

20.07 / 02:23

Government regulation SEC crimes Sec Chair No impact from Ripple ruling? SEC chair cites risks from crypto in budget request

United States Securities and Exchange Commission (SEC) Chair Gary Gensler has called for “new tools, expertise, and resources” aimed at addressing misconduct in the crypto space in the regulator’s 2024 budget request.

19.07 / 20:19

ETF regulation Investments SEC Bitcoin SEC Approval Multiple spot crypto ETF applications go to Federal Register in step toward SEC approval

Spot Bitcoin exchange-traded fund (ETF) applications from several firms have been published in the Federal Register, moving them one step along in the United States Securities and Exchange Commission’s (SEC) process.

19.07 / 18:35

regulation Decentralization Congress ATM legislation FinCEN U.S. Crypto security Bipartisan bill to regulate DeFi, crypto security risks introduced into US Senate

United States Sen. Jack Reed sponsored a bipartisan bill introduced into the Senate on July 18 that would tighten Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations and sanctions requirements for decentralized finance (DeFi). According to a news release on Reed’s website, the bill is titled the Crypto-Asset National Security Enhancement and Enforcement (CANSEE) Act.

19.07 / 17:27

Government regulation SEC Sec Chair lawmakers US lawmakers NOT US lawmakers propose SEC chair consider legislation, not enforcement approach to crypto

Two members of the United States House of Representatives have added their names to a list of lawmakers criticizing Securities and Exchange Commission (SEC) chair Gary Gensler’s approach to digital asset regulation.

19.07 / 15:05

Stablecoin Ripple XRP regulation SEC Court Bitcoin SEC vs. Ripple — Huge win for crypto

In the latest episode of The Market Report, Cointelegraph analyst and writer Marcel Pechman discusses Ripple’s partial victory against the SEC and its impact on the crypto market. Although people traded based on emotion after headlines popped out, the next day, as investors could process what happened, the altcoins gave away half of the gains.

19.07 / 14:41

CBDC Adoption regulation Banks Central Bank banking Ruble Russian CBDC by 2025? What’s happening with the digital ruble

The Central Bank of the Russian Federation’s (CBR) central bank digital currency (CBDC) project has been developing rapidly. The first news about the initiative appeared in 2020, and a regulatory bill was introduced in 2022, which has now passed through its final reading in the parliament’s lower chamber, the Duma.

19.07 / 13:39

regulation SEC SEC Urged to Abandon Crypto 'Crusade' by Congressman Torres After Ripple Legal Battle

Congressman Ritchie Torres has asked the US Securities and Exchange Commission to provide clear rules for crypto instead of “indiscriminately” treating the majority of crypto assets as securities under its purview.

19.07 / 12:39

regulation BItlicense Société Générale subsidiary becomes the first fully-licensed crypto provider in France

Forge, a subsidiary of Société Générale — the third-largest bank in France — became the first company to obtain the highest access license for providing crypto services in the country — a prerequisite for numerous service activities (PSAN). The provider will have a right to custody digital assets, to purchase and sell them for legal tender, and trade them against each other.

19.07 / 11:39

Adoption regulation Web3 Dollar NOT Hong Kong would not go crypto without China’s approval: Animoca exec

Hong Kong’s rapid adoption of cryptocurrencies and Web3 is a sign of some “big moves” happening in mainland China, a co-founder of the local game software firm Animoca believes.

19.07 / 11:39

Blockchain regulation Bitcoin Industry Bitcoin Regulation Bankruptcy Celsius Celsius could repay all USD claims if Bitcoin, Ether prices rose by 2X: Simon Dixon

Bankrupt crypto lender Celsius is battling a Chapter 11 bankruptcy with billions of dollars in claims made by various parties. A new estimate by the Bank of the Future (BF) suggests that the troubled crypto lender could likely repay the USD claims if the price of Bitcoin and Ether, the two assets that the firm holds, doubled from its current price.

19.07 / 06:39

Adoption regulation white house Bitcoin Industry Bitcoin Regulation Bitcoin Robert F. Kennedy Jr. vows to back US dollar with Bitcoin if elected president

Democratic presidential candidate Robert F. Kennedy Jr. has promised to progressively back the United States dollar with Bitcoin (BTC) if he is elected president.

19.07 / 05:27

business regulation FTX Financial Services Financial Australia’s financial regulator cancels license for FTX’s local entity

The Australian financial services regulator has finally canceled the financial license of FTX Australia, the bankrupt crypto exchange’s local subsidiary.

18.07 / 22:05

Law regulation Court hearing place Nevada court approves regulator’s petition to place Prime Trust into receivership, pending hearing

The Eighth Judicial District Court of Nevada has granted a petition from the state’s Financial Institutions Division (NFID) placing crypto custodian Prime Trust into receivership, pending a hearing to show cause.

18.07 / 20:23

Law regulation Europe Analysis European Union Opinion Bitcoin Regulation The EU Commission’s strategy on Web4 is a flop

On July 11, the European Commission formally adopted its new strategy on Web4 and virtual worlds with the aim of ensuring “an open, secure, trustworthy, fair and inclusive digital environment” for European Union citizens. The strategy is based on four main pillars, revolving around the empowerment of human resources, support of businesses, further development of public services, and shaping of global standards for “Web 4.0” — a freshly coined term that attempts to preempt the next technological wave.

18.07 / 19:23

Government regulation coinbase lawmakers crypto legislation US lawmakers Coinbase CEO will meet with US lawmakers to discuss crypto legislation: Report

Brian Armstrong, the CEO of United States-based cryptocurrency exchange Coinbase, is reportedly planning to meet with members of Congress to discuss digital asset legislation and related issues.

18.07 / 19:23

markets business Blockchain Adoption regulation Bitcoin 2024 Bitcoin rally will lead to "speculative blow-off top” in 2024, Mark Yusko predicts

BlackRock’s application for a Bitcoin exchange-traded fund (ETF) has sparked the beginning of a new crypto bull market, which will go parabolic at some point closer to the halving scheduled for April 2024, according to Mark Yusko, the chief investment officer and founder of Morgan Creek Capital.

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