Regulation

FTX CEO Sam Bankman-Fried (SBF) posted a draft of a set of standards to create clarity and protect customers as the US awaits full federal regulatory regimes. While highlighting the significance of regulatory oversight and customer protection, SBF said there needs to be an open economy where peer-to-peer transfers, code, validators, etc., are presumptively free. He believes establishing standards is necessary until regulation hit the scene to help inform and protect...

A day after Indian Finance Minister Nirmala Sitharaman spoke about her plans to work towards a tech-driven regulatory framework for cryptocurrencies under the aegis of G20, industry leaders offered mixed reactions to her statements.     Sitharaman spoke about crypto regulations to reporters on the sidelines of the fall meetings at IMF, World Bank, and G20 Finance Ministers and Central Bank Governor (FMCBG) in Washington last week, media reports said.  Positive but...

The Australian Securities and Investments Commission (ASIC) is expanding its digital currency team and says it’s looking to impose more regulation on crypto assets and their respective users, thus making it hard to sell digital currencies within Australia. ASIC Is Going to Be Tough on Crypto Under the new rules, all digital currencies would be classified as “financial products.” The decision comes after Ethereum – the world’s second largest digital currency by market cap...

The lower house of Kazakhstan’s parliament – Mazhilis – reportedly greenlighted new bills that aim to establish appropriate rules in the local crypto sector. They will require miners to create authorized entities, register with the regulators, and continue being subject to taxation. Solving the Problem With ‘Gray Miners’ Despite being a global leader in cryptocurrency mining, Kazakhstan has certain issues with the so-called “gray miners” who conduct their operations without...

Jim Messina – a former advisor to President Barack Obama – has been making a real name for himself in the world of digital currencies. As his former deputy chief of staff, he is now a heavy crypto lobbyer who’s looking to instill certain guidance and regulations for digital currency exchanges stationed throughout London and the United Kingdom. Jim Messina Brings Crypto and Politics Together Messina is presently a political operative working on the board of...

Over the past year, many people involved in the film industry have stepped into crypto either through non-fungible tokens (NFTs) or other means. However, it looks like these individuals may have brought the space down somewhat as people aren’t taking crypto seriously anymore. Film and Crypto Don’t Really Go Together Eswar Prasas – author of “The Future of Money: How the Digital Revolution Is Transforming Currencies and Finance” – explained in a recent interview: Whatever...

Biden and his cronies are calling for U.S. financial agencies to impose new digital currency regulations as quickly as possible. Biden Has Hinted He’s Not Happy with Crypto New reports from the White House Office of Science and Technology are suggesting that Biden could go so far as to ban bitcoin if he doesn’t feel it’s safe enough for traders. If such a ban would occur, it would likely fall right in place given how much American rights have been stomped on by this...

Andrew Bragg – a liberal senator in the Australian Congress – believes that the lack of digital currency regulations within the nation are hurting Australia’s chances at making its mark in the crypto world. He is now working to create a solid bill that drafts legitimate digital currency regulation for the nation that he plans to introduce the next time parliament convenes. Andrew Bragg Wants to Regulate Crypto Crypto regulation is something of a two-sided coin (pardon...

The government of Uruguay in South America has introduced a new bill that would see all cryptocurrency-related activity being regulated within the nation’s borders. Uruguay Wants to Regulate Crypto Under the new bill, central banks would serve as the ultimate regulatory authority. The status of cryptocurrencies and digital assets would be fully outlined in the bill, and all companies that delve in digital tokens or in blockchain would fall under the supervision of what’s...

The Markets in Crypto-Assets (MiCA) regulation passed in the European Council on October 5th. The development is a significant step toward bringing a consistent legislative landscape to the continent that has been, so far, fragmented. The text of the laws was signed off by the representatives of the bloc’s member governments in the EU’s Council. The policies are expected to go into effect in 2024. Creating a Consistent Regulatory Framework in the EU MiCA will eliminate the...