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Tag Archives: Regulations

Louisiana Bill Seeks to Lay Rules for Cryptocurrency Political Donations

Louisiana state legislature is considering a bill to facilitate crypto contributions to political campaigns. Sponsored by Republican Party Representative Mark Wright, the bill seeks to lay down a legal framework for making cryptocurrency donations to political parties and political leaders.  Crypto Contribution for Political Campaigns House Bill No. 170 intends to “allow a candidate to receive campaign contributions in the form of cryptocurrency” by amending and reenacting...

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Federal Reserve Chairman Says Russia-Ukraine Conflict Highlights Need For Crypto Regulation

Jerome Powell – Chairman of the Federal Reserve –  recently testified in front of the House Financial Services Committee on the state of the economy, and future monetary policy. Given the various sanctions placed on Russia during its conflict with Ukraine, he said the conflict “underscores” the need for crypto regulation that he’s advocated for months. Maintaining Effective Sanctions Following his testimony on Wednesday, Powell was asked whether Russia could potentially use...

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ECB President Urges for Crypto Regulations Following the Sanctions to Russia

Christine Lagarde – President of the European Central Bank – urged the EU to strengthen cryptocurrency regulations. In her view, the move could prevent Russia from evading monetary sanctions after starting the military conflict in Ukraine. Russia Could Use Crypto to Bypass Embargoes The European Central Bank has called upon establishing a comprehensive regulatory framework on the digital asset industry numerous times. Russia’s invasion of Ukraine and the following financial...

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Indian Regulatory Body Issues Guidelines for Crypto and NFT Ads

The ASCI said that the guidelines will be enforced from April 1, 2022, and advertisers must ensure that their previous ads don’t appear in the public domain without the new disclaimer. Ads Must Have a Disclaimer The local watchdog asked in the guidelines that crypto ads display a disclaimer that these “unregulated” products can be “highly risky” as there can be no regulatory recourse in case of any loss.  “Crypto products and NFTs are unregulated and can be highly risky....

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Russia’s Finance Ministry Unveils its Bill on Crypto Regulations (Report)

The Russian Ministry of Finance reportedly presented its draft legislation on digital asset regulations. The institution called upon enhanced protection rules and set a limit on annual cryptocurrency investments. The Latest Update Russia’s top authorities are still far from reaching a unanimous decision on how to approach the local cryptocurrency market. The Bank of Russia insists on a total ban of all digital asset endeavors, while the Finance Ministry urges for proper...

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Jamaica Has Everything Ready For Its New Jam-Dex CBDC

No cash, no problem! If you are one of those who think that physical money is old-fashioned, you might want to move to Jamaica, where the Central Bank has a similar stance and is getting closer each day to launching its own CBDC. In a press release published this week, the Bank of Jamaica announced that it had chosen the name, logo, tagline, and visual image of its new digital currency, which it expects to launch later this year. Hello Jam-Dex: No Cash, No Problem! The Bank...

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Russian Lawmakers Begin Public Discussions on Establishing Crypto Rules

The Russian Finance Ministry introduced public notices and said they started developing a comprehensive regulatory framework for the cryptocurrency industry. During the discussions, citizens and financial market players will be able to give their proposals on the matter. What Has Happened so Far? Ever since the start of 2022, Russia’s top authorities haven’t been able to come to an understanding of how to approach the digital asset sector and what rules to impose on it. The...

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US Justice Department Names Head Of Newly Formed Crypto Enforcement Team

The Justice Department recently appointed cybersecurity prosecutor Eun Young Choi to lead the newly formed “National Cryptocurrency Enforcement Team”, aimed at cracking down on digital currency schemes involved in illicit finance. It specifically targets both cybercriminals and nation-states, including Iran and North Korea. Intercepting Crypto Crime Deputy Attorney General Lisa Monaco announced the new appointment in an interview with Bloomberg on Thursday. They also spoke...

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Belarus to Create a Crypto Wallet Registry To Prevent Illicit Activities

As the political situation in Belarus evolves, the country’s government has sought to take full advantage of cryptocurrencies. This could be good or bad depending on viewpoints, but a recent decree by President Alexander Lukashenko could again reiginite debates about the role of the state in the promotion and control of cryptocurrency operations. On February 14, President of Belarus Alexander Lukashenko signed Decree No. 48, “On the register of addresses (identifiers) of...

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BlockFi’s $100M Settlement Payment is Disproportionate, Says Hester Peirce

BlockFi recently agreed to pay $100 million in a settlement after the U.S. Securities Exchange Commission (SEC) charged the firm with “failing to register the offers and sales of its retail crypto lending product.” The news that kept the space abuzz was broken by an SEC document, followed by a dissent note from Commissioner Hester M. Peirce – both put out on the SEC website. The Genesis of Trouble for BlockFi BlockFi has been offering interest-bearing accounts for crypto...

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