Tag Archives: Regulations

In a significant development that indicates that the Indian government may not fully chime with the central bank’s overly hostile stance against cryptocurrencies, a junior minister explained that such activities are fine as long as they follow existing laws.  This is in sharp contrast to the Reserve Bank of India’s (RBI) ban on crypto in 2018 and not fully opening up to the sector even when the Supreme Court scrapped the RBI order in 2022, calling it illegal.   Crypto Is...

Mamoru Yanase – Deputy Director-General of Japan’s Financial Services Agency (FSA) – urged global watchdogs to impose tougher regulations on the cryptocurrency industry. He believes digital asset exchanges should be treated the same way as banks. It’s All Because of FTX According to Yanase, one way to prevent another collapse of a cryptocurrency platform is if regulators treat such entities as traditional financial institutions. The Japanese referred to the demise of FTX,...

While crypto prices rallied last week, the public learned House Republicans are forming a cryptocurrency subcommittee. The announcement may spell the beginning of the end of U.S. regulatory ambiguity on blockchain and digital assets. “Strange, isn’t it? Each man’s life touches so many other lives. And when he isn’t around, he leaves an awful hole, doesn’t he?” — Clarence, “It’s A Wonderful Life” (1946 Christmas drama about a banking panic). Addressing a Big Hole Rep. Patrick...

Regulators in Hong Kong will soon decide which crypto tokens its citizens can invest in amid a raft of new digital asset policies coming this year. The move is the latest crypto regulatory step taken by Hong Kong in a market that has a long association with significant digital asset trading volume. Hong Kong to Issue Consultation Paper Hong Kong’s Securities and Futures Commission (SFC) is preparing a list of crypto assets open to retail traders, Reuters reported on...

The Securities and Exchange Commission (SEC) has filed a complaint against Genesis Global Capital and Gemini Trust Company for allegedly selling unregistered securities to retail investors in the US. The SEC is seeking permanent injunctive relief, disgorgement of ill-gotten gains, plus front-end interest and civil penalties. Both companies raised billions of dollars by offering and selling securities to US investors through the Gemini Earn crypto asset lending program. Gemini...

The Chairman of the United States Securities and Exchange Commission (SEC) – Gary Gensler – told members of the US Army to refrain from investing in cryptocurrencies.  He believes the sector lacks proper regulation and most digital assets will collapse in the future. Another Wave of Scepticism One of crypto’s keenest critics – Gary Gensler – launched another bashing manifest against the industry. In a recent Twitter Space, he pointed out that an increasing number of US...

Francois Villeroy de Galhau – Governor of Banque de France – believes cryptocurrency firms should obtain tougher regulatory licenses to continue providing their services. He also stated France should introduce stricter rules for domestic digital asset entities as soon as it is ready with its legislation instead of waiting for other European countries.  Villeroy’s Latest Recommendation According to the central banker, cryptocurrency entities should secure more stringent...

The Israel Securities Authority (ISA) could amend three of its existing monetary laws to squeeze in cryptocurrencies.  The regulator’s proposals seek to grant investors maximum security when dealing with digital assets, reminding about the recent collapse of FTX and the severe losses it caused to consumers.  Paying Attention to Crypto Israel’s financial watchdog proposed that cryptocurrencies should be included in the nation’s existing securities legislation. As such, the...

President Jair Bolsonaro of Brazil has approved a bill of crypto industry regulations most recently passed by the nation’s Senate and Chamber of Deputies. The bill, signed into law on Thursday, will take effect in 180 days, by which time crypto companies in the region must adapt to the new rules.  Having passed through Parliament in late November, the bill would make it possible for crypto firms to register in the country and establish physical offices. These include firms...

The Advertising Standards Authority (ASA) – UK’s advertising regulator – banned an NFT promotion by Crypto.com on December 21. According to the press release, ASA flagged a paid-for Facebook advertisement for the crypto platform, citing failure to illustrate the risk of investing in NFTs as well as clarify details with regard to fees. This isn’t the first complaint against an advertisement by the exchange. In fact, the regulator banned two adverts from the platform following...