Regulation

Ripple has been included in CNBC’s Disruptor 50 as the #38 of most successful private companies this year —primarily due to its innovative approach towards borderless payment technology and becoming one of the largest crypto companies in the world. This year’s CNBC’s Disruptor 50 is the ninth annual list of private companies thriving amidst the pandemic and making innovative approaches in their business models and the fields they’re in. Some of the listed companies include...

The new legislation will affect investors and companies that profit from cryptocurrency products and services based on the details of their individual services. However, there are a few general trends that we can follow to get a better sense of legislation at a macrocosmic level. The general rule is that Canada, the United States, and European countries are increasing related regulations. These regulations are focused primarily on anti-money laundering efforts, identity...

Chinese officials warned the public about the risks associated with trading with digital assets. The authorities pointed out three major considerations which might harm investors – false transactions, security breaches, and illegal and criminal activities involving cryptocurrencies. Tighter Regulations on Crypto Trading According to the China Financial Stability Report, investors should be extra vigilant when operating with bitcoin and other crypto assets. Officials from...

Gary Gensler – the new head of the Securities and Exchange Commission (SEC) – says that while he understands why so many people are eager to jump aboard the crypto bandwagon and invest in these new assets, there is still too much fraud meandering about, and more regulations need to be implemented as a means of protecting people from illicit behavior. Gary Gensler Wants More Crypto Regulations One of the big problems Gensler has with crypto – bitcoin specifically – is...

The recently-appointed SEC Chair, Gary Gensler, believes the cryptocurrency industry and the people involved need more advanced protection. In a recent interview, he also referred to bitcoin as a speculative store of value and called for an update of the existing regulations in the US. Advanced Protection for Crypto Investors in the US The cryptocurrency boom that started in late 2020, in which prices blossomed, and global demand skyrocketed, has caught the attention of...

A Californian court required Kraken to provide information on users who executed crypto deals for the equivalent of $20,000 or more between 2016 and 2020 to the IRS. The order comes amid growing concerns of strict cryptocurrency regulations coming for the United States. ‘John Doe Summons’ for Kraken A federal court in the northern part of California gave the IRS permission to obtain information about crypto transactions completed by Kraken’s users. Following the so-called...

With the impending taxation of cryptocurrency gains in South Korea, a recent poll showed that most citizens are in favor of such a rule. When it came down to age, though, the younger generations were significantly less opened to the idea of getting taxed for their crypto trading. South Koreans Support Crypto Taxation The East Asian country has dabbled with implementing cryptocurrency regulations and taxation on profits for years. However, the unexpected breakout of the...

Australians are beginning to take some serious interest in cryptocurrencies. Not only are they looking to trade the assets as much as they can; they are now looking to add crypto to their retirement accounts. Australians Love Their Crypto Australians are often frustrated by the lack of crypto regulation that exists in their country, and thus they are seeking ways to potentially gain access to these currencies without having to read all points of the fine print, so to...

The Ripple CEO has decried the lack of proper crypto regulation as the company fights the SEC about the classification of XRP as a security.Ripple CEO Brad Garlinghouse has said that authorities in the US do not have clarity on cryptocurrency regulation in the country. The CEO describes the situation as “frustrating” amid legal battles between Ripple and the US Securities and Exchange Commission (SEC). In a recent conversation with CNBC’s Squawk Box Asia, Garlinghouse compared the crypto...

The inability of US authorities to implement clear and precise regulations on the cryptocurrency industry is “frustrating,” commented the CEO of Ripple – Brad Garlinghouse. The executive also blasted the country’s regulator for being the only world watchdog insisting that the XRP token is a security. US Trails Behind Other Nations For Crypto Clarity With the growth of the cryptocurrency industry in the past year or so, world regulators began discussing more actively what type...