Regulation

However, during today’s global uncertainty and sluggishness of regulatory framework development, private companies are determined to steer clear of grey areas and be compliant to the maximum extent while serving their user base as effective on-ramps into digital finance. At the moment, some experts are worried that MiCA (Markets in the Crypto-Assets framework, which defines cryptocurrencies and stablecoins) will hamper the existence of the DeFi market in Europe since it aims to provide a...

The recent boom in institutional interest in Bitcoin and cryptocurrencies might be a fresh sign that the market needs crypto regulations. SEC Commissioner Hester Peirce pointed out that the wide range of investors would also improve price formation.Institutional Interest as the Long-Awaited Sign for Crypto RegulationsUS Securities and Exchange Commission (SEC) commissioner Hester Peirce has said that there is a need for precise cryptocurrency regulation. According to a recent news report, the...

Hester Peirce wants more precise cryptocurrency regulations amidst crypto adoption by big companies.In a declaration, the US SEC Commissioner Hester Peirce spoke about the urgent need for more precise cryptocurrency regulations as big companies such as Mastercard and Tesla continuously seek to adopt more digital assets.The Commissioner at the US SEC, Hester Peirce made the declaration in an interview where she applauded this new generation of investors in financial markets. However, Hester...

Crypto traders and investors as well as companies are expected to be given a three to six month transition period to liquidate their digital holdings after the new law is made officially.According to reports, India is set to issue a crypto ban in the country as a draft bill is likely to be passed. A senior Finance Ministry official who wanted to remain anonymous told reporters that the legislative proposal, ”The Cryptocurrency and Regulation of Official Digital Currency Bill, 2021,” won’t be...

Robert Ophèle, chairman of France’s financial regulatory body, the Autorité des Marchés Financiers (AMF), proposed a robust approach regarding cryptocurrecy regulations in order to encourage the growth and development of innovative projects.AMF Chairman Proposes Blockchain and DeFi Testing in Pilot RegimeSpeaking at the just concluded 5th Annual Conference Fintech and Regulation, Ophèle stated that with the continuous growth of the cryptocurrency sector, it was necessary for Europe to put in...

News emanating from Nigeria reveals that the country’s central bank has allegedly placed a ban on buying and selling cryptocurrencies.A circular disseminated by the Nigerian Central Bank has revealed the apex bank’s intention to clamp down on bitcoin buying and selling. The Central Bank issued a memo signed by its Director of Finance and Policy Regulation, Kevin Amugo, in 2017, warning against the use of unregulated virtual currencies and highlighted the place of virtual currencies in...

The use of decentralized exchanges has been increasing over the years. With cryptocurrencies making their way into the business world, activity in this sector is skyrocketing.Unlike a centralized exchange, a DEX (Decentralized exchange) has no central entity responsible for its operation. Instead, traders rely on a smart contract and the whole platform runs on the blockchain —generally Ethereum.This makes them slower and inefficient, but traders gladly embrace this temporary issue because,...

The Government of India seems to have resumed its efforts to ban cryptocurrencies after a lull in a political and legal battle.The latest move by politicians came this week when they revealed a bill that could put any activity related to cryptocurrencies in checkmate.If Cryptocurrencies Are Legal, a Law Can Make Them IllegalThe “Cryptocurrency and Regulation of Official Digital Currency Bill” seeks to ban private cryptocurrencies —possibly any token not issued by the state. Such a path could...

Bitcoin has taken a bit of a dip in recent days. While the currency is stronger than where it was 24 hours ago, the asset is still short of its recent $40,000+ all-time high. However, there’s no denying that the world’s number one digital currency by market cap has surged like there’s no tomorrow, and according to Lloyd Blankfein – a former Goldman Sachs chief executive – the government could really try and get in the way of bitcoin’s growth should it continue to surge like this.Lloyd...

The current frenzy in the crypto sphere has instigated arguments surrounding bitcoin’s capacity to replace fiat currency, and notable individuals in the conventional banking sector have recently expressed their opinions on the subject.Central Bank executives Weigh in on the Future of CryptoAbout two weeks ago, the president of the European Central Bank, Christine Lagarde, called for the regulation of bitcoin, claiming that the digital asset is being used to facilitate money laundering...