Regulation

Despite the fact that governments have been kept out of Bitcoin since its inception– they can still influence prices. For many investors, Bitcoin and similar cryptocurrencies signify a highly speculative asset that can not only provide exceptional ROI, but also allow the opportunity for investors of any level to hone their skills at trading. Trading opportunities continue to grow, as DeFi continues to pave the way for institutional interest, while retail and new investor friendly exchanges...

Crypto tax regimes have generally drawn criticism from South Korean crypto enthusiasts who believe the imposed taxes are heavier on cryptocurrency trading when compared with stock investment.Authorities in South Korea are set to implement a 20% crypto tax on all profits made through crypto transactions from January 1, 2022. This is according to a report by the Korean Herald that stated that the country’s Ministry of Economy and Finance announced that crypto transactions would, henceforth, be...

Ripple, the company behind one of the world’s largest cryptocurrencies, XRP, has registered an entity in the state of Wyoming. This follows a clash between the company and the United States Securities and Exchange Commission (SEC). Nevertheless, the price for XRP has surged by about 15% today after Caitlin Long broke the news on Twitter.Ripple Goes to WyomingWyoming is one of the states in the US which is known for its hard work towards creating a friendly cryptocurrency regulation framework....

Many regulators – including Hester Peirce of the Securities and Exchange Commission (SEC) – are claiming that more legislation and monitorization of the cryptocurrency space is necessary if digital assets are going to continue to be adopted by huge companies.Peirce Wants More Rules in the Crypto SpaceOver the past few weeks, several large tech and financial companies – such as Tesla – have invested money into bitcoin, the world’s largest and most popular digital currency. In addition, Tesla...

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...