Regulation

As far as the EU is concerned, it is gradually advancing in its crackdowns on the crypto industry through functional regulation. The European Union (EU) is set to vote on a new set of Anti-Money Laundering (AML) laws that may impose some significant restrictions on transactions involving the crypto market. According to recent clarifications given by Damien Carême, a French lawmaker from the Green party, the new restrictions will be based on scenarios where the sender cannot be identified....

A lot can happen in a year and a half. The cryptocurrency market has been through a literal rollercoaster in terms of price, regulations, and overall development. Exchanges imploded, multi-billion dollar ecosystems collapsed, regulators are stepping in now more than ever, banks are shutting down, and whatnot. And it almost seems as if time is flying. In 2021, CryptoPotato attended Solana’s Breakpoint in Lisbon and had the chance to talk to Brandon Millman – the CEO of the...

The United States Commodity and Futures Trading Commission (CFTC) is suing the CEO of the world’s largest cryptocurrency exchange Binance – Changpeng Zhao. As a result, the BTC price lost over $1400 in minutes. According to a CNBC report, CZ – the CEO of Binance – is being sued by the CFTC for allegedly violating trading regulations. The court filing stipulates that the exchange has taken a “calculated approach to solicit US customers in violation of federal regulations.” CZ...

After a 2-year investigation, Hindenburg concluded Block (previously known as Square) “systematically took advantage of the demographics it claims to be helping.” The report accused the firm of facilitating “fraud against consumers and the government” as well as “avoiding regulation.” It further called Block’s loans and fees to be “predatory” in nature and designed to “mislead investors with inflated metrics.” The US-based short seller said its research involved numerous...

Bitcoin has been having a very good year in 2023. The currency is up 50 percent since the end of 2022, and it looks like it’s going to be enjoying at least another few solid months in the coming future thanks to leniency from China. China Is Stepping Back Into the Crypto Picture For the most part, China has always been a big player in the bitcoin and crypto communities. The country once accounted for close to three quarters of the world’s bitcoin and crypto mining...

The Bank of Zambia has announced it’s considering adopting digital currency legislation so that it can test the technology behind crypto to see about its viability as a payment method. Zambia Sees Crypto in a Whole New Light Felix Mutati – the technology and science minister in Zambia – stated in a recent interview: The testing of the technology on regulating cryptocurrency will be upscaled in due course as part of deliberate measures to achieve an inclusive digital...

Canada is cracking down on crypto trading and tightening its rules due to the FTX financial collapse. The country is allegedly trying to do all it can to protect investors and ensure nothing like the exchange’s debacle can affect people within its borders. Canada Is Fighting Potential Crypto Loopholes The Ontario Securities Commission and securities regulators in Canada are keeping their eyes open and watching any unregulated digital currency exchanges within the...

Speaking to the parliament, Chairman Huang pointed out that the Financial Supervisory Commission was working on a crypto regulatory framework. The Financial Supervisory Commission of Taiwan (FSC) has announced that it will now be the primary regulatory body for cryptocurrencies in Taiwan. Some lawmakers had called for the Ministry of Digital Affairs (MODA) as the chief crypto regulator. However, FSC made it known in a statement by its chairman, Huang Tien-mu while addressing the Taiwan...

In recent days, there has been a lot of fear centering around the Securities and Exchange Commission (SEC). The agency is clearly motivated to try and bring crypto down for good, though according to Jake Chervinsky – the chief policy officer of the Blockchain Association – traders and investors shouldn’t worry too much as at the end of the day, it’s not the SEC that makes general rules and regulations regarding crypto, but Congress. The SEC Doesn’t Have That Much Power...

LYOPAY is a cryptocurrency payments application that allows you to store, exchange, buy, and sell cryptocurrencies and euros. It serves as the connection point between fiat and cryptocurrencies, allowing users to exchange traditional money into cryptocurrencies and vice versa.  LYOPAY offers a range of services, including opening up your own bank account based in Europe, opening your crypto wallet, and making swap trading with cryptocurrencies. KYC and AML Compliance...