Search
Argentinian Chamber of Fintech Makes Cryptocurrency Regulation Proposal
18.12.2021
The Argentinian Chamber of Fintech, a membership-based organization whose goal is to lead the digitization and modernization of the financial services industry, issued a series of recommendations for the upcoming regulation of virtual assets in the country. The proposed framework asks...
Florida Governor Ron DeSantis Proposes Creating a Cryptocurrency Payment System for State Fees
11.12.2021
The American politician and attorney serving as the 46th governor of Florida, Ron DeSantis, announced the state’s 2022-23 budget proposal last week and proposed an idea to let businesses pay state fees with crypto assets. The governor’s “Freedom First Budget” suggests...
India to Impose Ban on Crypto Payments, Deadline for Declaring Crypto Assets, KYC Rules: Report
8.12.2021
The Indian government has reportedly proposed banning the use of cryptocurrency for payments and setting a deadline for investors to declare their crypto holdings. Violators may be arrested without a warrant and held without bail. In addition, the crypto bill may call for a uniform...
More Regulations Proposed to ‘Streamline’ Mining Sector in Kazakhstan
28.11.2021
Authorities need to expand the regulatory framework for cryptocurrency miners, a member of the parliament in Kazakhstan has suggested. The additional rules should streamline their activities and help correct the forming public opinion that they are responsible for the country’s electricity...
Bank of Russia Pushes to Introduce Liability for Illegal Use of Digital Assets
24.11.2021
The monetary authority in Moscow, the Bank of Russia, wants those who use cryptocurrencies against the law to be held accountable. The financial regulator has proposed the introduction of legal liability for some operations with digital assets which it considers illegal. Central Bank of Russia Aims...
Proposed tightening of Australian crypto regulations could stifle competition: Kraken
23.11.2021
Kraken Australia’s Managing Director is concerned that a proposed new licensing regime for crypto exchanges could collapse the vibrancy of the industry down under
Finiko Founder Doronin Offers to Testify Against 44 Accomplices at Crypto Pyramid
22.11.2021
Kirill Doronin, mastermind of the Russian crypto Ponzi scheme Finiko, has proposed to testify against dozens of his former associates he claims violated his order to accept only cryptocurrency from investors. The founder of Russia’s largest financial pyramid in modern times has already...
Russia’s Prosecutor General Wants Cryptocurrency Recognized as Property Under Criminal Law
18.11.2021
The Prosecutor General’s Office of Russia has proposed to define cryptocurrency as property in the country’s Criminal Code. Decentralized digital money has already been qualified as such in the provisions of several other laws although various aspects of cryptocurrencies remain...
Ripple Proposes ‘Real Approach to Cryptocurrency Regulation’
17.11.2021
Ripple has published a proposal for a regulatory framework for cryptocurrencies called “A Real Approach to Cryptocurrency Regulation.” CEO Brad Garlinghouse explained that his company’s “proposed policy framework is a three-pronged approach of what can be done...
Unnamed South African Investor Proposes Buying 51% Stake in Collapsed Crypto Firm for $5 Million
12.11.2021
An unknown investor has proposed to acquire a 51% stake in Africrypt — the collapsed cryptocurrency investment company — for a purchase price of $5 million. However, in exchange for the offer, the investor wants all criminal proceedings against Africrypt directors dropped. Offer Must...
If Stablecoins Are Going to Be Regulated Like Banks, They Should Enjoy All the Benefits
11.11.2021
The U.S. Treasury Department proposed regulating stablecoin issuers as banking institutions, which may be a great idea if stablecoin issuers are offered the same privileges as regulated banks. US Treasury Department Report: Stablecoins Regulation Is Urgently Needed The rise of stablecoins within...
Swedish Regulators Call for EU Ban on Crypto Mining, Power Company Defends Industry
10.11.2021
Alarmed by the rising energy needs of cryptocurrency mining, Sweden’s financial and environmental regulators have recently proposed an EU-wide ban on proof-of-work coin minting. The Swedish officials believe this would encourage a move towards a more energy-efficient extraction of bitcoin...
Single Mining Farm Needs as Much Power as 24,000 Homes, Kazakhstan Estimates
23.10.2021
Authorities in Kazakhstan have calculated the energy used in the country’s crypto mining industry which competes for electricity with other sectors of the economy and households. The government has also estimated the additional supply necessary to meet the growing demand from mining farms...
Binance Smart Chain Devs Propose Ethereum-Like Gas Fee Burning Mechanism
23.10.2021
Developers of the Binance Smart Chain, the Binance-backed decentralized blockchain platform, have proposed applying a mechanism to burn BNB tokens based on the utilization of the network. According to the proposal, this would benefit both validators and holders due to the increase in value that...
China to Add Cryptocurrency Mining to ‘Negative List for Market Access’ Making the Industry Off-Limits to Investors
9.10.2021
China has proposed adding cryptocurrency mining to the country’s latest “Negative List for Market Access.” This will make cryptocurrency mining an industry that is off-limits to investors, another move by the Chinese government to clamp down on crypto-related activities....
Lawmakers in Kazakhstan Propose Registration for Crypto Farms, Higher Electricity Rate for Miners
7.10.2021
Members of the parliament in Kazakhstan have proposed the establishment of a state register for cryptocurrency farms operating in the country. Alarmed by the growing consumption of energy in the sector, the lawmakers also want to charge miners a higher price for the electricity they use. Mazhilis...
Third-Largest Bank in France Societe Generale Proposes Use of Defi Protocol Makerdao
1.10.2021
French multinational investment bank and financial services company, Societe Generale, has proposed to leverage the decentralized finance (defi) protocol Makerdao. The proposal dubbed “Security Tokens Refinancing” was published on October 1 to Makerdao’s forums and...
Central Banks Look To Two-Tier Retail CBDC Model Amid Disruption Fears
22.9.2021
ral-banks-seek-to-balance-innovation-and-disruption-when--PBC_1303486">report by international risk assessment firm Moody’s. “Based on existing and proposed pilot schemes, CBDC development is being done in conjunction with existing financial market infrastructure, the two-tier
100 years ago, Henry Ford proposed ‘energy currency’ to replace gold
18.9.2021
Bitcoin appears to meet the definition of an energy-backed currency proposed by the famed American inventor during the interbellum period
US Lawmakers Propose to Subject Cryptocurrencies to Wash Sale Rule
17.9.2021
A committee of the U.S. House of Representatives has proposed to subject cryptocurrencies to the “wash sale” rule. Since cryptocurrencies are treated as property by the Internal Revenue Service (IRS), they are currently not subject to the wash sale rule. This proposal attempts...