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California Considers Lifting Ban on Crypto Donations for Political Campaigns

California’s state regulator – Fair Political Practices Commission (FPPC) – will consider allowing the use of cryptocurrencies for political campaign donations four years after banning them. Potential Law Amendments During its most recent Commission Meeting, the FPPC disclosed it had arranged a “pre-notice discussion” where it will contemplate whether to enable digital asset political donations in the state. The conversation will be held later this week (May 19): “The...

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Switzerland Is Trying to Aid Crypto’s Growth

Switzerland is a country that’s doing all it can to aid bitcoin’s reputation. The nation is home to the town of Zug, which hosts what’s known as “Crypto Valley,” a region that takes part of its name from Silicon Valley in northern California. Switzerland Is Doing All It Can for Crypto While the latter is known for housing some of the world’s largest tech companies – such as Facebook, Google, and Microsoft – the former hosts several crypto and blockchain firms that are...

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SEC Chief Reiterates View That Crypto Assets Are Securities

The policymaker has continued to stake a claim for the crypto asset industry for his agency tasked with regulating securities in the United States. According to Gensler, cryptocurrencies should be regulated the same way as securities. In a speech on reducing risk and increasing transparency of derivatives at the International Swaps and Derivatives Association Annual Meeting on May 11, he said: “Most crypto tokens involve a group of entrepreneurs raising money from the public...

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Bittrex CBO: Why Bittrex Lost its Lead, Token Sales’ Critical Mistakes, and How to Get Listed (Interview)

Bittrex Global is the international arm of the Seattle, Washington-based U.S. Bittrex exchange. It is based in Lichtenstein, and it’s registered and supervised by the local financial market authority. For the first years of crypto trading and until the 2017 bull run, Bittrex was considered to be among the leading exchanges, and founders were eager to list their tokens on the US-based exchange. Chris Sinkey is the Chief Business Officer and Listing Director for Bittrex Global...

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Hawaii to Launch a Task Force Focused on Crypto Regulations

Two of the main committees of the state of Hawaii – Commerce and Consumer Protection (CPN) and Ways and Means (WAM) – greenlighted the launch of a unit called Blockchain and Cryptocurrency Task Force. The division’s main goals will be to supervise the local digital asset ecosystem and explore the employment of cryptocurrencies. Hawaii Seeking to Regulate Crypto In a letter addressed to Hawaii’s President of the Senate – Ron Kouchi – the two committees outlined the “emerging...

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US Issues New Sanctions Against Crypto Miners in Russia

The United States is imposing more sanctions on Russia for its alleged involvement in the Ukraine invasion. The country is now saying it will penalize all crypto miners who seek to assist Russia in evading the present regulations set forth by the U.S. and its allies. Russia Is Getting Hit Again The United States has long been at it with Russia. The country potentially invaded Ukraine back in February despite many attempts from the U.S. and other countries to dissuade it...

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Stringent Rules Could Turn Singapore Into a Global Crypto Hub, the MAS Says

Ravi Menon – the head of the Monetary Authority of Singapore (the country’s central bank) – said the nation’s crypto regulations will include a “stringent” licensing process. He believes strict rules could reshape the city-state as a global digital asset hub. MAS Seeks the Balance on Crypto Regulations Despite its rapidly-growing popularity in the last several years, the cryptocurrency sector remains a risky field for retail investors. That is what Ravi Menon – Managing...

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Gibraltar Introduces New Regulation Against Crypto Market Manipulation

Gibraltar, a small British overseas territory, has released a new guideline for cryptocurrency businesses operating in the region, which aims to foster market Integrity and combat market manipulation. The Gibraltar Financial Services Commission (GFSC) published the regulatory principle on Wednesday (April 27, 2022). The new rule was drafted by a special working group comprising government officials and experts in the crypto and blockchain industry. Governments and regulators...

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Crypto Casinos Are Becoming Quite Problematic

When it comes to traditional online gambling, it can be rather difficult to move money in and out of casinos. With online bitcoin or crypto casinos, however, the situation becomes very different. Crypto Casinos Are Getting Bigger and Stronger The world of crypto gambling is exploding as of late, one of the big reasons being that many of the regulations that apply to standard online casinos don’t apply to crypto. Thus, virtually anybody can take part, which opens several...

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Criminalizing Rug Pulls: Senator Kevin Thomas Proposes New Regulations

Rug pulls have grown to become a menace in the space of decentralized finance and have resulted in hundreds of millions stolen from users. Being amongst the most common types of scams, some US politicians have taken aim and want to outlaw them. State Senator Kevin Thomas and Assembly member Clyde Vanel have introduced Senate Bill S8839. The bill calls for penalizing, defining, and criminalizing frauds that are specifically targeted at developers and projects designed to dupe...

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