Regulation

Although the Reserve Bank of India recently issued a new circular clarifying that digital assets are not outlawed in the country, the entity still believes they carry significant risks. As such, the RBI has taken its concerns to the government, asserted the bank’s governor – Shaktikanta Das. The world’s second-most populated nation has always had a complicated relationship with the cryptocurrency space. An RBI directive from 2018, which most people considered as an all-out...

Following the latest news, Tesla (TSLA) stock closed Wednesday with a 3% fall. The dip continued during Thursday’s pre-market.Tesla Inc (NASDAQ: TSLA) has recalled a total of 734 of its Model 3 cars imported to China according to a recall plan cited by the State Administration for Market Regulation (SAMR) on Thursday. A market regulator from the central government said that the cars, produced in 2019, were recalled due to defects in their seat belts and tires.Multiple complaints of brake...

Brad Garlinghouse – the CEO of Ripple – is rather frustrated with how crypto regulation is dealt with in the United States, and he is upset by how unclear the rules tend to be. Ripple CEO Discusses Lack of Regulatory Clarity Ripple has been under fire for the past few months due to a lawsuit initiated by the Securities and Exchange Commission (SEC). The company garnered billions through a token sale of XRP – the official cryptocurrency of Ripple – that the SEC says was...

Bitcoin has become too big of an asset to escape regulatory frameworks, argued the governor of Sweden’s central bank – Stefan Ingves. At the same time, the nation’s finance minister confirmed that the country is already looking into implementing tighter rules around cryptocurrency exchanges. BTC: Too Big Not to Be Regulated During a recent speech cited by Bloomberg, Riksbank Governor Stefan Ingves joined the trend of central bankers commenting on bitcoin amid its recent...

Rowland believes that though the market is ripe for regulations, there is yet a long way to go.Derville Rowland, one of the top officials at Ireland’s central bank has mulled the growing popularity of cryptocurrencies such as Bitcoin (BTC) as a “Great Concern”. According to a report by Bloomberg, Rowland, in addition to this warns of how speculative digital currencies can be.“Crypto assets are quite a speculative, unregulated investment,” and people should be “really aware they could lose the...

The Reserve Bank of India issued a new circular today, clarifying that although banks and other entities need to carry customer due diligence, cryptocurrencies are not outlawed in the country. Citing media reports that banks and regulated entities have “cautioned their customers against dealing in virtual currencies by making a reference” to a circular that RBI Issued back in 2018, the bank now clarifies the situation. The institution said that these “references are not in...

Christopher Hui – Hong Kong’s Treasury Secretary – agreed with the government’s intentions to implement certain crypto regulations in the megapolis as he believes Hong Kong would ultimately benefit from them. This Is The Right Decision In a recent speech, the Treasury Secretary of Hong Kong – Christopher Hui, backed up the proposal of the Financial Services and the Treasury to ban retail cryptocurrency trading. He said that the move was a well-thought decision and its...

The rise of competition, lack of decentralization, and legal scrutiny can hamper the rise of Binance Smart Chain.Binance Smart Chain has seen a huge increase in popularity over the past year. In February 2021 it surpassed ethereum on the number of daily transactions.  This can largely be attributed to the higher transaction fees on Ethereum. Some claim that Ethereum’s move to Proof of Stake will fix this, but this has not happened yet. Many projects have made the move over to Binance smart...

Gary Gensler stated that investors on crypto exchanges should get similar protection as that offered to investors at the New York Stock Exchange. He also noted that the SEC is financially under-resourced when compared to the big-tech players.On Thursday, May 27, Gary Gensler, the newly appointed chairman of the US SEC called for the need to regulate the crypto exchanges. He also stressed the need for higher investor protection by increasing the oversight of crypto exchanges.Gensler’s comments...

Charles Hoskinson – the founder of the blockchain platform Cardano – revealed his three reasons why Ethereum falls behind his project. Additionally, he scratched the topic of BTC’s energy consumption. Why Cardano Is Superior to Ethereum? In a recent Yahoo Finance interview, Cardano’s founder Charles Hoskinson criticized Ethereum’s network by calling it overrated and outlining a lack of vital qualities. First, Ethereum can only process smart contracts while the rival Cardano...