Regulation

Andrew Yang has announced his departure from the Democrat Party. He is now creating an entirely new political party known as the “Forward Party” and it’s going to be a major push for bitcoin and cryptocurrencies. Andrew Yang: Once Again Putting Bitcoin at the Helm Yang has often sought to make a name for himself in the worlds of politics and crypto. Many times, he has worked to place both these elements together. For example, in 2019, Yang announced a bid to run for President of the United...

The U.S. Justice Department is establishing a new division that will look specifically into cryptocurrency crimes such as money laundering and theft. The Justice Department Seeks to Have a Hand in Regulation The idea of regulating the crypto space has been on the tables of many global leaders over the past several years. The trouble is that very few of these leaders have ever gotten around to doing something, which has ultimately proven to be both bad and good at the...

Bitmain – one of the world’s largest manufacturers of bitcoin mining machines – revealed it would no longer deliver crypto mining rigs to mainland China addresses. However, the firm would continue shipping its products to overseas destinations. The Crypto Ban Reached Bitmain The Chinese crackdown on cryptocurrency mining and trading has affected Bitmain as well. The Beijing-based company announced on its WeChat account that it will halt shipping its Antminer crypto mining...

Ken Griffin – Founder and Chief Executive Officer at the multinational hedge fund Citadel LLC – stated that his organization will start offering cryptocurrency trading services only if there is “regulatory clarity.” However, he is not keen on the asset class, opining that it threatens the strength of the American dollar. Citadel Can Jump on The Crypto Bandwagon During a recent interview, billionaire Ken Griffin pointed out the necessity of imposing a regulatory framework on...

According to the International Monetary Fund (IMF), crypto traders need to accept the idea of stronger regulation if they are ever going to be safe from hackers and other illicit players. The IMF Says Regulation Needs to Happen There have been several arguments as of late claiming that the bitcoin space is prone to criminal activity from those who would like to launder money, fund terrorist organizations, and commit themselves to illicit projects. In addition, the crypto...

Elon Musk – the South African billionaire and entrepreneur behind mega companies like Tesla and SpaceX – believes that crypto regulation should not exist and that governments should just mind their own business. Elon Musk Doesn’t Care for Governments Getting Involved in Crypto Musk is echoing the age-old argument that digital currencies are designed to be decentralized assets. They are not meant to be overseen by banks or standard financial institutions. Third parties...

After China recently banned all crypto-related activities in the country, crypto exchange Huobi Global had to limit mainland Chinese citizens from registering on the platform. As a consequence, the Huobi pool – the eighth biggest BTC pool-  is now moving a massive amount out of their funds, possibly to cover the client withdrawal needs on the exchange. $4.21 Billion Flowing Out From Miners Data from research company IntoTheBlock shows that Huobi Pool has recently moved almost...

Tesla’s CEO – Elon Musk – believes authorities are unable to “destroy” the digital asset industry. He advised the American government to let crypto “fly” instead of implementing legislation on it. Additionally, he gave his reasons why China has a hostile stance on cryptocurrencies. ‘Just Let It Fly’ In a recent interview with Kara Swisher, the prominent entrepreneur and business magnate – Elon Musk – shared his thoughts on some of the hottest topics in the digital asset...

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Dubai World Trade Center Authority (DWTCA) announced recently that it has partnered with the UAE’s Securities and Commodities Authority (SCA) to make cryptocurrency trading, issuance, and regulation completely legal within its jurisdiction – the DWTCA freezone. DWTCA Makes Crypto Activities Legal Notably, the agreement was signed by the acting CEO of the SCA Dr. Maryam Al Suwaidi, DWTCA director-general Helal Saeed Al Marri, and an executive at the Dubai Department of Tourism...