Regulation

Australia’s financial regulators have yet to approve plans by the Commonwealth Bank of Australia (CBA) to offer access to crypto products for its over 6.5 million customers. The regulatory watchdog says the onus is on the CBA to comply with laid-down rules and regulations for financial products. Opposition from the regulator has prevented the CBA from moving beyond the pilot phase of the project. Will CBA’s Crypto Product Be Delayed? According to a report by Financial Review...

The sanctions are a part of CBN’s efforts to discourage cryptocurrency usage and to firmly establish commercial restrictions on cryptocurrency trading. The Central Bank of Nigeria (CBN) has penalized three commercial banks in the country for failing to follow a directive from the regulation that prohibits consumers from transacting in cryptocurrencies. CBN’s Sanctions According to the latest Bloomberg report, the financial institutions were fined for breaching a...

Dubai – the capital of the United Arab Emirates in the Middle East – has unveiled a new digital currency law that apparently a lot of other countries could learn from. The law allows for increased innovation and investor protection in the space while also permitting banks to do their jobs in making sure that all crypto activity is regulated and safe. Dubai Is Instilling a New Crypto Law Jonathan Levin of Chainalysis fame is speaking at this week’s World Government Summit...

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Lawmakers in the European Union (EU) are making it hard for crypto traders to invest in digital currency while remaining private. Regulators say they are working to make it so that money laundering in the crypto space never happens again. As a result, they are implementing new rules that will require all crypto exchanges and trading platforms to obtain, hold, and submit information on customers involved in digital currency transfers. The EU Is Coming Down Hard on Crypto...

Why do I have to complete a CAPTCHA? Completing the CAPTCHA proves you are a human and gives you temporary access to the web property. What can I do to prevent this in the future? If you are on a personal connection, like at home, you can run an anti-virus scan on your device to make sure it is not infected with malware. If you are at an office or shared network, you can ask the network...

The city of Brenham in Texas has always been a major crypto mining hub. Many residents have taken to crypto mining as a hobby or as a means of earning extra funds. They do not employ expensive machines or have large warehouses filled with mining rigs to do this. Instead, they just do it out of their own homes, a testament to how loose the city has been with its regulations. Brenham, Texas Is Scaling Back Crypto Mining Energy Usage However, it looks like the city of...

Joe Biden – despite being a perpetual screw up since his first day in the White House (or the White House studio set) – has managed to grease the wheels somewhat with crypto analysts and traders in the United States after he issued an executive order a few weeks ago calling for American government agencies and officials to look at regulating crypto and analyzing its risks. Joe Biden Is Still Getting Things Wrong The executive order also opened the door to a digital...

The second-most populated nation will reportedly implement a regulatory framework on cryptocurrencies only after a global consensus on the matter. According to a person familiar with the matter, the Indian government does not plan a law soon to either restrict or promote dealing with digital assets. Crypto Regulation Needs Global Approach India is among the countries with the most controversial stance on the cryptocurrency industry. Over the past few years, the authorities...

The European Union today voted in favor of outlawing all anonymous crypto transactions – including from self-hosted wallets – facilitated through exchanges. This rule will apply to transactions of any size, meaning both payers and recipients of even the smallest digital asset payment must be identified. The Partisan Vote The law comes as part of a package of anti-money laundering revisions to the EU’s Transfer of Funds Regulation (TFR). It brings rules applying to...