Regulation

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The International Monetary Fund (IMF) has recently published some recommendations on how to effectively regulate the cryptocurrency sector around the world. In a recent blog post, the IMF acknowledged that crypto assets are rapidly revolutionizing the entire global financial system. However, policymakers still struggle to monitor the risks associated with the market. Regulators Must Act Fast The financial institution pointed out that the rapid growth of the crypto space has...

Today, a major hearing took place on Capitol Hill titled “Digital Assets and the Future of Finance: Understanding Innovation in the United States.” It featured top crypto industry CEOs, including Jeremy Allaire, Sam Bankman-Fried, Brian Brooks, and more. Here’s what some of them told financial regulators about the ideal regulatory landscape. North Carolina Rep Patrick McHenry prefaces the hearing by asking how to ensure the crypto industry grows within the United States and...

Several leading crypto exchange executives have been called in to testify before a committee on December 8. The committee will be made up of several members of the U.S. Congress, all of whom have questioned the presence of crypto in America and have previously called for stricter regulation. The Committee Wants to Know More About Crypto Among the witnesses called to testify before the committee are Alesia Haas of Coinbase fame, Jeremy Allaire from Circle, and Brian...

India is proposing a new bill that if passed, would see the combination of regulation and a ban in the crypto world. India Has a New Crypto Bill in Play The nation has had a rather up-and-down relationship with bitcoin and crypto. Roughly three years ago, India stated that it would not allow cryptocurrency or blockchain businesses to access standard financial tools like checking and savings accounts. It was widely – and incorrectly – reported that India was full-on...

Meta – formerly Facebook – said they will be expanding crypto ad eligibility on their platform, by increasing the number of regulatory licenses they accept. Formerly limited to 3, the company now accepts 27 licenses, which are publicly viewable on their policy page. Crypto Ads to Flood Facebook Meta announced their ad expansion on their website earlier today. This is apparently a response to increased regulation of crypto over the years, which has increased clarity of...

Avinash Shekhar – Chief Executive Officer of the cryptocurrency exchange Zebpay – predicted that the Indian lawmakers are more likely to impose tough rules on the digital assets than prohibit their usage. The exec added that regulation in the sector is necessary as it could bring many innovators and multibillion-dollar companies. The Vibes Do Not Indicate for a Total Ban The cryptocurrency environment in India is controversial, to say the least. The authorities of the largest...

Hillary Clinton – former first-lady and US Secretary of State – recently called for the Biden administration to regulate the crypto markets. She said the technology could be “manipulated” by Russia and China, and even “destabilize” the dollar’s status as the world reserve currency. Crypto Versus America Clinton re-affirmed her anti-cryptocurrency stance in conversation with MSNBC’s Rachel Maddow on Wednesday. Her comments were part of a larger conversation on regulating tech...

Binance – the world’s largest digital currency trading platform by daily volume – and its founder Changpeng Zhao are calling for regulation to finally enter the crypto foray. Changpeng Zhao Wants Regulation to Take Form Regulation in the digital currency space has been one of the most controversial topics the blockchain world has ever seen. The idea of regulation is considered sacrilege to many diehard crypto fans given that the space was born out of a desire to operate...

Many countries – including Israel and Laos – are ramping up their crypto regulatory processes as a means of protecting investors and keeping malicious actors out of the equation. Israel and Laos Are Pushing for Safer Crypto Environments Israel, for example, has initiated strict anti-money laundering laws that could see much more disciplined reporting and a lot of criminals going out of business. A published document claims that the country’s Authority for Combating...