Regulation

The last couple of years have witnessed explosive growth in the mainstream acceptance of cryptocurrencies as aggregate global digital asset capitalization surged past $3 trillion in market capitalization amid a flood of institutional demand and expanded use cases. Digital assets like bitcoin (BTC), ether (ETH), and several other altcoins have come a long way, gradually transitioning from speculative investments to crypto portfolio stablemates. As cryptocurrencies continue...

Israel’s Authority for Combating Terror Financing and Money Laundering will reportedly impose new regulations on various digital financial products, with cryptocurrencies being some of them. The government unit raised hopes that the legislation will diminish crypto’s use in criminal activities and grant more support to the local investors. Clear Standards for Crypto A recent report by the Jerusalem Post reads that Israel intends to increase the clarity in the digital asset...

Binance believes the future of crypto needs to be user-focused. Amidst mounting regulations, the CZ-led cryptocurrency exchange has published a list of what it considers to be the basic rights for every digital asset user. Beyond the hype of Bitcoin (BTC) and Dogecoin (DOGE), Binance stated that there is more to the cryptocurrency sector. Its constitution-like document “10 Fundamental Rights for Crypto Users” emphasizes the need for financial inclusion, privacy, among...

The British authorities have reportedly urged Transport for London (TfL) to stop allowing cryptocurrency ads on its infrastructure. The move comes after Floki Inu – a meme coin named after Elon Musk’s puppy – was advertised on the city’s underground stations, buses, and trains for the last couple of weeks. Crypto Ads Are ‘Unethical’ “Missed Doge? Get Floki” – this was the slogan that appeared on some of London’s underground stations at the end of last month. Promising to...

USDC issuer Circle has declared support for the Presidential Working Group on Financial Markets’ proposal to regulate fiat-backed cryptocurrency issuers like banks, stating that the move would foster ecosystem growth. Jeremy Allaire, CEO of Circle, told Yahoo Finance that it is imperative to regulate stablecoin issuers because the growth of such tokens could see the asset class widely adopted by many. “We’re supportive of that recommendation. We think [this] represents...

The Ministry of Economic Development, the Ministry of Energy, and the State Duma want cryptocurrency mining in Russia to be a legalized business regulated as an entrepreneurial activity. However, the country’s central bank opposed such a move, citing the risks related to digital asset endeavors. Russian Crypto Mining Deserves “Respect And Regulation” According to a local report by Izvestia, some Russian authorities believe cryptocurrency mining needs to have a comprehensive...

The leader of the Iran Blockchain Association (IBA) – Abbas Ashtiani – opined that the country’s central bank (CBA) is not capable of implementing a comprehensive regulatory framework on digital assets. As such, the authorities need to develop an “independent counsel” to resolve the issues. How Will Iran Regulate Crypto? Imposing regulations on the digital asset industry is a policy that each government takes quite individually. While China completely banned crypto mining and...

Andrew James Bragg, Australia’s senator for New South Wales, recently acknowledged that cryptocurrency enthusiasts in the country are very eager to receive regulations on their activities in the country. Demand for Regulation Continues to Increase In an official statement on Tuesday, Bragg noted that a clear and comprehensive regulatory framework for digital assets will increase market stability, among other things. Bragg, who is currently serving as the chairman of the...

As the cryptocurrency industry progresses to mainstream adoption, investors seek to understand more about this rapidly growing industry and how they can increase their exposure to it. On Monday, Nov. 1, 2021, the American multinational investment bank Morgan Stanley published a report on cryptocurrencies for its wealth management clients. Incoming Regulations In the document, strategists at Morgan Stanley Research gave a detailed analysis of the various activities, sectors,...

Bankers and government officials around the world are proving more welcoming to crypto than ever before. Tharman Shanmugaratnam – Singapore’s Central Bank Chairman – recently stated that cryptocurrency has a place in the country’s financial sector. All it needs are some regulations around illicit finance. A Place For Stablecoins The chairman showed his support at the Asia Financial Markets Forum on Wednesday. He said that the technology’s financial use-cases could extend...