Regulation

Mark Branson – President of Germany’s financial market regulator BaFin – reportedly urged global authorities to cooperate and impose appropriate laws on the cryptocurrency industry. Such rules could grant additional customer protection and prevent the usage of the asset class in illegal activities, he claimed. ‘Now is the Time’ According to Branson, the current supervision of the cryptocurrency sector is not strict enough to keep bad actors away. “Just let the industry grow...

The FTX collapse spurred action from yet another financial watchdog. The Thailand Securities and Exchange Commission (SEC) is gearing up to impose more stringent regulations on crypto assets similar to that of the global market in a bid to protect investors. According to Bangkok Post, the SEC said that regulators should play a greater role in enhancing investor protection mechanisms. The regulator has established a working committee consisting of relevant government agencies...

Goldman Sachs published a research note on Friday covering blockchain technology and the recent demise of the crypto exchange FTX. The investment banking giant believes regulation is “needed at the point of trust” within the centralized elements of the blockchain industry – rather than on the blockchain itself – to prevent similar instances of widespread fraud in the future.  The Point of Trust Per the company’s report, FTX’s collapse does not represent a failure of the...

New Jersey wants to turn itself into the most crypto friendly region in America. That’s why it’s introducing the “Digital Assets and Blockchain Regulation” Act, which will permit decentralized autonomous organizations (DAOs) to establish themselves within the state’s borders and issue stock certificates and create tax incentives for digital currency firms. New Jersey Is Establishing New Digital Currency Laws New Jersey has been up and down in its relationship with digital assets. While some...

Yet another US politician at the center of crypto industry regulation has changed stances on Ether’s legal classification. Senator Cynthia Lummis (R-WY) revealed Wednesday that she now views the second largest cryptocurrency as a security – not a commodity.  Bitcoin is the Only Crypto Commodity: Lummis Lummis expressed her changed view on the asset with CoinDesk on Tuesday while discussing the measures that may have prevented FTX’s collapse last month. She suggested that her...

With FTX filing bankruptcy and Sam Bankman-Fried now leaving the throes of his once-great company, Congress and the elites in Washington are once again turning up the volume on their arguments for regulating the crypto space. Congress Is Coming After FTX There have been far too many accidents this year in the world of crypto. With companies like Celsius suddenly halting withdrawals and then filing for bankruptcy and assets like the Terra Luna (allegedly) stable coin crashing to the ground,...

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Pakistan is intensifying efforts to launch its CBDC and has issued a timeframe within which it’ll achieve its aim.Pakistan might be the latest in a long list of countries looking to harness the potential of using central bank-issued digital currencies (CBDC). This follows after it announced new regulations in hopes that they will ensure a successful CBDC launch by 2025.Pakistan Approves New EMI Laws, Eyes CBDC LaunchAs part of its efforts in this regard, the first aspect that Pakistan is...

Vitalik Buterin – the man behind Ethereum, the world’s second largest digital currency by market cap and the number one competitor to BTC – has announced that he doesn’t think right now is the best time for a crypto-based ETF (exchange-traded fund). Vitalik Buterin: It’s Not the Time for a Crypto ETF To be fair, such a product already exists. It was introduced by Pro Shares during autumn of last year, and it stirred heavy controversy by being based on futures technology rather than actual...

Rostin Benham – chairman of the Commodities and Futures Trading Commission (CFTC) – has walked back previous claims that Ether (ETH) and other altcoins should fall under his agency’s jurisdiction.  Speaking about the future regulation of crypto following FTX’s bankruptcy, he suggested that only Bitcoin should be viewed as a commodity. Flipping Positions on Ether As reported by Fortune magazine, the chairman aired his thoughts during an invite-only crypto event hosted by...