Regulation

Turkey’s government has introduced a new regulation that will prohibit cryptocurrency assets from being used as payment methods as of April 30th, citing significant risks. Nevertheless, banks are excluded from the legislation, meaning that users can still deposit the Turkish Lira on crypto exchanges through their banking accounts. Turkey’s Ban on Crypto Usage as Payment Methods According to the official statement from the Central Bank of the Republic of Turkey, the country...

As bitcoin hits a new all-time high this week of just under $63,000 per unit, it appears that several members of Congress have different feelings towards the world’s number one digital currency by market cap. Kevin McCarthy – the House Minority Leader and a Republican from California – has reported that he is a fan of bitcoin, and that the U.S. government needs to wake up when it comes to implementing the appropriate regulations. Kevin McCarthy: The U.S. Is Losing Out In...

Ahead of the long-anticipated public listing for his company, Coinbase’s CEO Brian Armstrong asserted that US regulators are wrong in believing cryptocurrencies are primarily used for illicit transactions. He added that the industry wants to be treated on the same playing field as traditional finance when it comes down to legislative frameworks. Armstrong on Crypto Misconceptions The belief that digital assets are mainly used for illegal transactions has been going on for...

The exponential growth of bitcoin and the entire cryptocurrency sector has caught the attention of global regulators, noted Kraken’s CEO, Jesse Powell. Speaking to CNBC, the executive warned of potential crackdowns, especially after the threats coming from the US government. Regulatory Crackdowns on the Crypto Industry? The cryptocurrency industry has been on a roll since mid-2020. Led by bitcoin’s massive increase, the explosion of NFTs, the growth of DeFi, and many more,...

Peter Thiel – a libertarian and the co-founder of PayPal, arguably the largest digital payment platform in the world – has taken some serious guff over the past week thanks to some comments he made about bitcoin and China. Thiel Doesn’t Want China to Use BTC Against America In a recent interview, Thiel commented that the Chinese could potentially weaponize bitcoin and use it against its enemies like the United States. He recommended harder regulation be put in place so...

Hester Pierce – the commissioner of the Securities and Exchange Commission (SEC) – says that she hopes the U.S. government is not stupid enough to try and ban bitcoin activity, as there is no way it could ever stop people from trading it or being involved. Hester Pierce: The Government Can’t Be This Naive Pierce is often dubbed the “Crypto Mom” given her loose stance on cryptocurrency regulation. She believes that many digital assets are legitimate methods of finance,...

Cryptocurrency regulations across different countries continue to be a hot topic, and Spain is the latest to join in. The nation’s watchdog has asked industry participants, investors, and consumers for their opinion, and they have until April 16th to respond. Spain’s Regulator Looks for Crypto Legislation According to a report from La Informacion, The National Securities Market Commission (CNMV), Spain’s watchdog overseeing the securities markets, has initiated the first...

Speaking at a City and Financial Conference today, John Glen said authorities need to regulate stablecoins due to the threat it poses should a major firm dominate the sector.  “There is the potential for some firms to swiftly achieve dominance and crowd out other players due to their ability to scale and plug into existing online services,” the financial services minister was quoted as saying.  Regulating the Wider Crypto Market Not Pressing Despite calls from financial...

[Featured Content]DexMex is a decentralized exchange based on Uniswap to offer peer-to-peer leverage trading on any ERC-20 token.While decentralized exchanges hit about 50 billion every month in trading volume, leverage and short trading are pretty underdeveloped. Similarly, leverage trading is not popular in decentralized exchanges – instead, it has its rooting in centralized exchanges such as Binance, Bybit, Huobi, OKEx, and so forth.DexMex is a decentralized exchange that allows traders to...

While the cryptocurrency landscape in India is still faced with regulatory uncertainty, the government has directed that companies should disclose details of their crypto transactions and holdings.Possible Crypto Regulation for India?According to a document published on March 24, both public and private firms in India care to disclose details of their cryptocurrency activities during the financial year. The new rule follows an amendment made by the country’s Ministry of Corporate Affairs to...