Regulation

New York Federal Reserve Bank President – John Williams – opined that the rapid development of virtual assets challenges the central banks’ desire to launch their own CBDCs. He advised policymakers to consider how cryptocurrencies would work efficiently alongside physical cash. Crypto Raises Questions for Central Banks John Williams – the president and CEO of the Federal Reserve Bank of New York – reacted to the recent presentation of the former Bank of England governor Mark...

The forthcoming regulations in South Korea, which will require exchanges to have a real-name account at a local bank by September, might push many smaller trading platforms out of business. They are reportedly planning to fight back by suing the government. CryptoPotato reported before that the Korean government plans to implement a new rule on cryptocurrency trading venues. It carries hefty fines on these companies, should they fail to comply with AML rules. After several...

Mark Cuban seems to have been a crypto fan for some time. Recently, he praised both bitcoin and Ethereum and claims to hold a substantial amount of both. However, one of the more recent coins to receive backing by the billionaire investor has tanked big time, and as a result, Cuban is stepping in and calling for clearer regulation regarding stable currencies. Mark Cuban Has Taken a Crypto Hit At press time, it is unknown which stable currency garnered Cuban’s attention,...

The Russian oligarch Oleg Deripaska blamed the Bank of Russia for its strict regulations imposed on digital assets. In his opinion, the central bank obstructs the citizens from involving in cryptocurrencies like Bitcoin. Russia Should Add BTC As a Payment Method One of the wealthiest Russians – Oleg Deripaska – used his Telegram account to criticize the Bank of Russia on its crypto stance. He surmised that the country should add the primary cryptocurrency as a payment method,...

Hoffman hopes that Chia going public and keeping XCH as a separate token will hedge investors from wild price swings.Chia (XCH) coin price at writing time was exchanging hands at around $406.74, up 6.6%. It has also had a 24-hour low of $380.93 and a high of $425.48. Gene Hoffman, COO, and President at Chia Network said that his network takes volatility and regulation very positively.He went on to liken the crypto market events to those of the late ’90s when there was high volatility in...

India’s Enforcement Directorate (ED) has purportedly sent a show-cause notice to the founder of the popular exchange – Nischal Shetty, and the director – Sameer Mhatre. The agency has requested the duo to explain suspicious transactions worth nearly $400 million. According to a Reuters report, India’s financial crime-fighting organization, the ED, has contacted the two executives in regards to transactions worth 28 billion rupees ($382 million). The agency accused the...

The global banking body is seeking stakeholder opinions on the best course of action on the issue of banks interacting with crypto assets. From central banks and other regulators to intergovernmental working bodies, legacy finance gatekeepers seem to be paying greater attention to the emerging cryptocurrency market. Public Consultation on Crypto Assets According to a communique issued by the Bank for International Settlements (BIS) on Monday (June 7, 2021), the Basel...

As we know by now, India is unaware of where it will be in a few years when it comes to cryptocurrency. However, it looks like many regulators are now potentially looking to oversee crypto activity within the country rather than outright ban it like everyone has feared over the past several months. India Can’t Decide Where to Go with Crypto India is presently setting up a panel of crypto experts who will discuss the regulation of crypto in the region. Artur Schaback –...

Steigt bald der Ethereum-Preis? Es ist reine Spekulation. Dennoch prognostizieren viele Chart-Analysten einen steigenden Ethereum-Preis. Angeblich soll der Preis um fast 1’000 US-Dollar auf knapp 4’000 US-Dollar steigen: #ethereum is ready to go higher for BITSTAMP:ETHUSD by YMGroup $ETH https://t.co/qoeRrtdzft pic.twitter.com/C8Hz1seb2E — BitcoinAgile (@bitcoinagile) June 7, 2021 Grund für den steigenden Ethereum-Preis? Ein wichtiger...

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...