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Security and Regulations Main Hurdle for Institutional Investors Regarding Crypto Investments (Survey)

According to recent research conducted by Nickel Digital Asset Management, nearly 75% of institutional investors and wealth managers stated that the security of virtual currencies is a “significant” hurdle stopping many individuals from entering the crypto space. Low Confidence among Institutional Investors The UK-based investment manager – Nickel Digital Asset Management – asked 100 global institutional investors and wealth managers to determine their biggest concerns...

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The European Union Is Cracking Down on Anonymous Crypto

Cryptocurrencies are on the verge of losing their edge in European countries as members of the EU (European Union) are now looking into banning all anonymous crypto trades. The European Union Is Working on New Crypto Regulations The process is designed to ensure all monetary transactions are safe. The organization is seeking to end all financial crime such as money laundering and terrorist financing and representatives believe this will lead to a stronger environment for...

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BlockFi Formulates Plans to Go Public Despite Growing Regulatory Intervention

BlockFi has been focusing its efforts to go public long before the regulations grew deep.The documents circulated in the media have given an edge to the growing speculation highlighting the intention of BlockFi to go public in the next 12-18 months. The documents are also suggesting that the company will be closing a Series E funding round which will further make the company valuation reach a striking figure of $4.75 billion. BlockFi was recently embroiled in an alleged security violation...

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EU Cracks Down on Anonymous Crypto Wallets

According to a fresh release, companies that transfer BTC or other cryptocurrencies must collect information about the senders and recipients if proposed EU regulations come into force. In a bid to end anonymous cryptocurrency wallets, the Europoean Commission has proposed a law that would require companies that transfer BTC and other cryptos to collect information about the sender and the receiver. This, according to a recent press release, aims to crack down on illicit...

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Turkey Official Says Crypto Framework to be Presented to Parliament in October

Turkey’s Deputy Minister of Treasury and Finance – Şakir Ercan Gül – revealed that the officials have completed the draft bill with the regulatory framework for cryptocurrencies and will present it to the Parliament in October 2021. He opined that the Asian country needs to learn from Western Europe and the USA but should implement stricter rules. The Crypto Bill Is Ready According to a recent report, the Turkish Deputy Minister of Finance – Şakir Ercan Gül – stated that the...

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Japan to Implement Stricter Rules on Stablecoins: Report

The Japanese government intends to put stablecoins under strict regulation as some authorities consider them a threat to the country’s financial stability. At the same time, the Bank of Japan aims to issue a digital yen that it sees as a safer alternative to private virtual currencies. Japan’s Next Crypto Move According to Reuters, three Japanese officials revealed that the country is looking to increase its efforts to regulate digital assets. Per the report, some local...

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Visa to Approve First Bitcoin Spending Card in Australia

The global payments giant Visa has approved the issuance of a physical debit card that will allow Australians to spend their bitcoins at local stores and leisure venues. The inovation will enable customers to make direct purchases with crypto instead of converting digital assets to fiat money. First BTC Spending Card in Australia According to the Australian Financial Review report, Aussies will soon be able to spend cryptocurrencies via a new debit card created by the local...

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Fed to Release Report in September Addressing Cryptocurrencies and Stablecoins, Says Jerome Powell

The Chairman of the Federal Reserve of the United States, Jerome Powell, said today that the country is working on a publisher’s report on digital currencies. The Fed Chair said that the incoming report would focus on digital payments “broadly.” Per his words, this also includes stablecoins, crypto-assets, and central bank digital currencies (CBDCs). We’re going to address digital payments broadly. It means stablecoins, it means crypto-assets, it means a CBDC. That whole...

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Bitmain ex-CEO Jihan Wu: Regulation Is Good for Crypto

The crypto billionaire suggested that engagement between regulators, governments, and companies are necessary and would result in a positive outlook for the crypto space in years to come.While some may see the various regulatory measures greeting the crypto industry as plans of the authorities to crash the space, a crypto billionaire and ex-CEO of Bitmain believes that regulation of the sector is good for the long-term growth of the sector.Jihan Wu explained to CNBC at a conference that the...

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Regulations Could be Healthy for Crypto, Says Bitmain’s Former CEO Jihan Wu

Jihan Wu, the founder and former CEO of the crypto mining company Bitmain, believes regulations are necessary for the cryptocurrency industry. In fact, they could be beneficial for the space as it would isolate it from bad actors and fraudulent activities. Wu: Crypto Regulations Are Healthy The topic of implementing a legislative framework around the crypto market has become wildly discussed in the past year or so as prices blossomed to new highs. Global watchdogs have...

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