Regulation

The European Union (EU) has agreed to some new regulations for the crypto space. The EU Seeks to Regulate Crypto Under the new laws being implemented, a cryptocurrency company working in an EU-labeled country must obtain a license before operating. It will also need to implement certain safeguards to ensure customers and their money are safe from fraud and illicit actors. Up to this point, crypto companies were only required to show proof that they had barricades against...

Australia’s newly-elected Prime Minister – Anthony Albanese – reportedly has three top issues to deal with it as the new leader of the country. These include battling climate change, reducing the cost of living, and imposing comprehensive rules on the cryptocurrency industry. Crypto Included as a top Priority The Australian Labor Party won the government elections and will try to guide the nation through the economically turbulent times ahead. For his part, the leader of the...

A new research study conducted by ETHAX – a regulated and licensed crypto firm – suggests many adults are in favor of crypto regulation and aren’t looking to trade any bitcoin without proper protocols in place. ETHAX Sets the Tone for Regulatory Compliance Regulation is something of a two-sided coin (pardon the pun). On one hand, the crypto space has been riddled with crime since it first came about. We all remember the early days of Coincheck and Mt. Gox, which occurred...

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...

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...

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...

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...

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...

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...

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...