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SEC Has No Authority Over Pure Commodities Like Crypto Assets, Says CFTC Commissioner
5.8.2021
Both the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) have claimed jurisdiction over the crypto industry. A CFTC commissioner clarified that pure commodities, including crypto assets, or their trading venues are not regulated by the SEC....
Uruguay: Senator introduces bill to enable use of crypto for payments
5.8.2021
A Uruguayan Senator has introduced a bill seeking to “establish a legitimate, legal and safe use in businesses related to the production and commercialization of virtual currencies.”
SEC Chair Gensler Outlines Plans for Crypto Trading, Exchanges, Investor Protection, Bitcoin ETFs
5.8.2021
The chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, has outlined how the SEC plans to regulate the crypto industry. Focusing on investor protection, Gensler discussed concerns the SEC has about crypto trading, exchanges, lending, defi platforms, and exchange-traded...
Indian Government Clarifies Status of Cryptocurrency Trading, Regulation, Investor Protection
3.8.2021
India’s Ministry of Finance has answered some questions regarding the status of cryptocurrency trading in the country as well as crypto regulation and investor protection. The minister of state for the finance ministry has indicated that the recommendations in the draft bill proposed by...
Korean Regulator to Shut Down 11 Cryptocurrency Exchanges Ahead of Regulatory Deadline
3.8.2021
South Korea’s top financial regulator will shut down 11 cryptocurrency exchanges allegedly engaged in fraudulent bank account schemes, local media reported. Meanwhile, the deadline for all crypto exchanges to comply with the country’s regulation is drawing near and most of them have...
US Lawmaker Introduces Legislation to Regulate Crypto Assets and Protect Investors
2.8.2021
A U.S. congressman has introduced the Digital Asset Market Structure and Investor Protection Act. The legislation would “provide the Securities and Exchange Commission (SEC) with authority over digital asset securities and the Commodity Futures Trading Commission (CFTC) with authority over...
Governments Need to Stop Dismissing Crypto as Illicit Payments and Reckless Speculation, Says El-Erian
2.8.2021
Mohamed El-Erian, an adviser to Allianz and Gramercy Funds Management, says that “The time has come for more western governments to stop dismissing the crypto revolution as some mix of illicit payments schemes and reckless financial speculation.” Western Governments Urged to Stop...
Finland Looking for Brokers to Sell Seized Bitcoins Worth $80 Million
30.7.2021
Finland’s customs authority is looking for brokers to sell 1,981 bitcoins seized in drug cases. The coins are currently worth nearly $80 million. Finland’s customs authority announced Thursday that it is seeking brokers to sell 1,981 bitcoins seized in drug busts, Bloomberg reported...
US Senator Lummis: Big Government Spenders Are Accelerating Adoption of Crypto Assets Like Bitcoin
30.7.2021
U.S. Senator Cynthia Lummis is pushing for regulation that would ensure bitcoin remains a good store of value. If the cryptocurrency “is to become what El Salvador has done, legal tender, then we need to make sure that we are using it in ways that comply with the Bank Secrecy Act...
Western nations need better public-private cooperation on crypto, says Mohamed El-Erian
29.7.2021
The famous economist has warned that western nations risk losing out to China in the emerging digital economy if they continue to be dismissive of crypto
Massive government spending accelerating crypto adoption: Sen. Cynthia Lummis
29.7.2021
Senator Cynthia Lummis said that inflation and massive government spending is accelerating the adoption of digital assets
Senator Warren Urges Treasury Secretary Yellen to Urgently Adopt Policy to Mitigate Cryptocurrencies’ Risks
28.7.2021
U.S. Senator Elizabeth Warren has asked Treasury Secretary Janet Yellen to “act with urgency” and adopt an appropriate policy to address the risks posed by cryptocurrencies. “The longer that the United States waits to adapt the proper regulatory regime for these assets, the more...
Pennsylvania legislature mulls crypto task force bill
27.7.2021
The proposed crypto task force will examine the impact of crypto and digital currencies across the Commonwealth of Pennsylvania
Portfolio Strategist Expects Cardano to Become Mainstream Cryptocurrency Alongside Bitcoin and Ether
26.7.2021
A portfolio strategist for American financial services firm Morningstar says that cardano could become a mainstream cryptocurrency alongside bitcoin and ether, forming a “big three” of mainstream cryptocurrencies. Strategist Believes Cardano, Ether, Bitcoin Could Become Mainstream...
SEC Chairman Outlines Regulation of Crypto Assets Relating to Security-Based Swaps
22.7.2021
The chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, has clarified how cryptocurrencies falling under security-based swaps are regulated. He affirmed that platforms operating in the centralized or decentralized finance space are implicated by the securities laws....
BlockFI ordered to stop onboarding New Jersey-based customers
20.7.2021
BlockFi CEO Zack Prince rejects the New Jersey securities regulator’s claim that his firm has been offering unlicensed securities to the public
Bank of England’s Deputy Governor: Cryptocurrencies Aren’t Big Enough to Pose Financial Stability Risk
18.7.2021
Bank of England Deputy Governor Jon Cunliffe believes that cryptocurrencies are not big enough to pose financial stability risk. “They’re not of the size that they would cause financial stability risk, and they’re not connected deeply into the standing financial system,”...
US Treasury Secretary Yellen Outlines Plans to Regulate Stablecoins in Collaboration With the Fed, SEC, CFTC
17.7.2021
U.S. Treasury Secretary Janet Yellen will convene a meeting with the Biden administration’s working group on financial markets to discuss stablecoin regulation. “In light of the rapid growth in digital assets, it is important for the agencies to collaborate on the regulation of this...
Lithuania Issues Warning to Binance, Warns Investors Crypto Services Are Not Regulated
16.7.2021
Binance’s regulatory troubles continue with Lithuania being the latest country to issue a warning about the cryptocurrency exchange. Lithuania’s announcement came one day after Italy issued a similar warning. Lithuania Warns Binance Lithuania’s central bank announced Friday that...
France Proposes EU-Wide Cryptocurrency Regulation
15.7.2021
France has proposed giving more power to the Paris-based European Securities and Markets Authority (ESMA) and making it responsible for cryptocurrency oversight. French regulators say cryptocurrencies need EU-wide regulation. EU-Wide Crypto Regulation With ESMA as Main Supervisor France proposed...