Regulation

The US-based cryptocurrency exchange – Coinbase – received approval from the Bermuda Monetary Authority to operate on the island. It also intends to establish an offshore derivatives marketplace in the region as soon as next week. CEO Brian Armstong recently said his entity could relocate to other countries if the American watchdogs do not impose an appropriate regulatory framework on the digital asset sector. Next Stop: Bermuda? Coinbase announced in a blog post that it had...

While the EU is in the final stages of making MiCA a reality and hence fosters a more defined market participation, the industry has been fussing around the laid-back approach of the US in relation to floating similar rules. The European Union (EU) has now broken the record of being the first region in the world to pass the most comprehensive regulations to guide the broader nascent digital currency ecosystem. The recent approval came from the EU Parliament who voted for the bill by a...

Coinbase received its license to operate in Bermuda on April 19th. The action was taken to keep up with the company’s campaign for “global scale to go broad and deep”. Coinbase plans to launch a coastal derivatives exchange in the next week, after it acquired a license to function in Bermuda from the Bermuda Monetary Authority. Coinbase applauded Bermuda as an excessively reputed and professional financial regulator in its announcement. Coinbase had long been looking to inaugurate an...

Senators in the U.S. say if Congress is going to get serious about establishing crypto regulations, they need to be bipartisan. This means both democrats and republicans need to agree on how the rules should play out and what they should accomplish. Congress Needs to Find Common Ground Over the last six years, one can easily say that both sides of the political spectrum have been at war with each other. It’s an ugly sight, in many ways. Both democrats and republicans are...

Coinbase is on the brink of legal warfare with the Securities and Exchange Commission (SEC) to reach long-awaited clarity on how federal securities laws apply to the crypto industry, according to CEO Brian Armstrong.  Should the regulator situation not improve, the executive said the exchange would consider relocating away from the United States.  Will Coinbase Move Abroad? In an interview with CNBC on Tuesday, Armstrong called out “certain regulators” for taking a...

Brian Armstrong – Chief Executive Officer of Coinbase – thinks US and UK-based cryptocurrency entities could relocate to other countries if the domestic watchdogs do not implement proper legislation on the industry.  He also hinted that his exchange might consider such a move should the regulatory situation in the States remains the same. ‘Anything is on the Table’ According to Armstrong, the American and British authorities should enforce appropriate crypto rules to prevent...

Andrew Griffith – economic secretary to the UK Treasury and Member of Parliament – said the Kingdom’s authorities plan to impose a regulatory framework on the cryptocurrency industry in the next 12 months.  The rules will aim to drive the sector forward and turn Britain into a digital asset hub.  Regulation is on its Way In a recent interview for CNBC, Griffith said the UK government is willing to enforce pertinent rules on the crypto sector and will discuss the matter until...

Government officials have confirmed the city’s crypto commitments at the Hong Kong Web3 Festival this week as it aims to become a fully regulated crypto hub attracting investment and Web3 startups. On April 12, Financial Secretary Paul Chan Mo-po reiterated that appropriate regulations and oversight were of paramount importance. “I believe that everybody has learned from recent events that appropriate regulations are a must to create a sustainable development environment and...

Not long ago, we published an article about former Pennsylvania Senator Pat Toomey, a republican who chose not to run for another term despite serving in politics for over 20 years. Pat Toomey Shows Two Faces When Discussing Crypto Going that long, Toomey was clearly a popular figure, and in our piece, he discussed his many thoughts on crypto and how he was against regulation given everything comes with hiccups, and those hiccups shouldn’t be an excuse to bring whatever...

On April 12, Andrew Bailey, governor of the Bank of England, stated during a press conference at the Institute of International Finance in Washington that stablecoins should be regulated in the same way as fiat money. According to Bailey, stablecoins lack an “assured value,” one of the main characteristics that people look for when investing in this type of “digital money” that seeks to resemble fiat. He argues that because of this, the country needs to focus on providing a...