Regulation

A recent study compiled with government authorities and regulators concluded that they still view the cryptocurrency industry as a significant risk source. Those establishments raised concerns regarding the field’s self-regulation and the number of illegal activities funded by digital assets.Unsurprising: Regulators Worried About Crypto RegulationsThe UK’s oldest defense and security think tank, the Royal United Service Institute (RUSI), published the study dubbed Cryptocurrency Risk &...

It looks like banks and financial institutions are still split right down the middle when it comes to cryptocurrency.Many Banks Are Still Iffy on the Subject of CryptoFor the most part, the gap between both centralized and decentralized finance has been somewhat bridged over the past few months. After all, many banks have now been given the green light to offer crypto custody services to their customers, but how many are looking to do this willingly?It appears many of them are still having...

In a somewhat unexpected turn of events, the United States Commodities and Futures Trading Commission has pressed charges against the owner-operators of BitMEX for illegally running a cryptocurrency exchange and failing to comply with anti-money laundering regulations.As CryptoPotato reported earlier today, this had an immediate impact on Bitcoin’s price, which dropped by as much as around $400 following the news.Now, BitMEX has posted an official announcement with a brief comment on the...

The EU has realized that the future of finance is digital and Valdis Dombrovskis has indicated that the regulatory push will help to prevent market segmentation within the EU.The European Union (EU) has revealed plans to enact a regulatory framework that will govern cryptocurrencies and stablecoins in the region. According to the EU, some cryptocurrencies or crypto assets already fall under the regulatory purview of the body, but most of the extant regulations were enacted long before the...

Richard Ells is the CEO of Electroneum, a cryptocurrency app for smartphones that allegedly offers one of the fastest payment options out there. He’s also created a cryptocurrency known as ETN that he says is used by hundreds of thousands of people around the world to garner access to basic financial services.Richard Ells: Crypto Is Better Than It LooksHe says that one of the things that bothers him most nowadays is how the cryptocurrency space is widely depicted in a negative light by the...

State-backed newspaper outlet Global Times have stated that Beijing is not likely to approve the deal between ByteDance, Oracle and Walmart.Barely days after the approval of the ByteDance deal with the duo of Oracle Corporation (NYSE: ORCL) and Walmart Inc (NYSE: WMT), a publication from the Chinese based newspaper The Global Times have stated in an editorial that Beijing is unlikely to approve an ‘unfair’ deal between the tech giants. Per the editorial, the deal whose details were supplied...

According to new reports today, the Commission has further explained that the move was part of its effort to protect investors, and it is well equipped to provide the required regulations.Last week, the Securities and Exchange Commission, Nigeria (SEC Nigeria), published a proposed set of regulations for the cryptocurrency and blockchain space, given the increasing importance of regulation.Making The Crypto Space ComfortableCommenting on the development, Emomotimi Agama, Head, Registration,...

The Securities and Exchange Commission (SEC) has settled charges with a company known as Unikrn, Inc. The company is believed to have offered its new token through an unregistered offering.The SEC: Our Rules Could Be More UnderstandableThe crypto space is certainly no stranger to stories like this, and as of late, the agency appears to be very strict when it comes to exacting the appropriate penalties on crypto companies that don’t follow the rules and regulations in place.However, the SEC is...

The digital currency dubbed “Sand Dollar” will not be much different from the Bahamas local currency as they will both have the same regulations.The Bahamas is on course to become the first country in the world to introduce a state-backed e-currency called the Sand Dollar by October 2020. The possibility of hitting the ground running with a Central Bank Digital Currency (CBDC) is being explored by a number of countries. However, none has come to a conclusion of integrating it into its...

Another day, another bad news for the people of Venezuela. Paxful has decided to stop supporting the country, giving users 30 days to withdraw their funds and preventing any new sign-ins.Throughout the day, users of the platform received an email, in which Paxful warned it had to “close its operations” in Venezuela after months of hard work:“Although we made our best efforts during several months, we are sad to announce that, in view of the concern for the regulatory scenario, Paxful will...