Tag Archives: Regulations

The city-state’s central bank – the Monetary Authority of Singapore (MAS) – reportedly issued guidelines that limit crypto trading service providers from promoting such assets. The financial institution believes dealing with digital assets is highly risky and unsuitable for every investor. In addition, Australia’s top financial watchdog – the Australian Securities and Investments Commission (ASIC) – advised locals to restrain from investing retirement savings into bitcoin and...

The Acting Comptroller of the Currency of the United States, Michael J. Hsu, gave a speech on January 13, 2022, highlighting the advantages of regulating the cryptocurrency space-specifically stablecoins-as a way to provide peace of mind and security to those using this type of technology. Speaking at the BritishAmerican Business Transatlantic Finance Forum, Hsu argued that the growth of the cryptocurrency industry had been so swift that the regulatory indifference of...

The cryptocurrency industry saw a tremendous surge in terms of institutional adoption in 2021. Experts suggest that this trend is likely to continue this year as well. But whether it’s a tidal wave or a trickle will depend on how the industry evolves in terms of technology that offers secure storage and protects user funds. Institutions Fear Security Risks The cryptocurrency market has been notoriously volatile – a common critique levied against the industry since the very...

The Securities and Exchange Commission has hired Corey Frayer to advise Chairman Gary Gensler on regulations of cryptocurrencies. Frayer’s previous experience includes operating as a professional staff member of the Senate Banking Committee and policy adviser for the House Financial Services Committee. The US watchdog has a complicated history with the cryptocurrency space. The appointment of Gary Gensler as Chairman earlier this year was considered by many as a positive step...

India’s crypto saga did not have any significant breakthrough this year. As the regulatory climate remained unclear, the country’s market regulator feels mutual fund houses should not come up with fund offers related to cryptocurrency assets. SEBI Not Excited About Crypto NFOs The Securities and Exchange Board of India (SEBI) chairman, Ajay Tyagi, reportedly noted that the regulatory entity does not want the domestic mutual funds to develop any crypto-based new fund offers...

As the year is inching close, the world’s largest cryptocurrency exchange, Binance, has secured an MSB license to offer cryptocurrency services from the Candian regulatory authorities. On the same day, the company also received in-principle approval from the central bank of Bahrain. Glad Tidings for Binance According to the official filing with the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC), Binance’s Canadian arm will be operating as Binance...

Wyoming Republican Senator Cynthia Lummis has made a name for herself within the cryptocurrency community for her favorable stance on the matter. Now, she will reportedly introduce a comprehensive bill next year. Sen. Cynthia Lummis – a well-known Bitcoin HODLer – will reportedly introduce a cryptocurrency bill next year. It will be covering everything from consumer protections to how crypto is taxed and categorized. The main purpose of the bill would be to provide regulators...

Santa Claus could be granting the wishes of Turkish cryptocurrency enthusiasts as the country embarks on a revolutionary change in its cryptocurrency policy. Turkey’s President Recep Tayyip Erdoğan said today in a press conference that he expected the nation to make a leap forward with a new economic model, and as a first step, he would touch the crypto industry by creating a law to promote their legal use in the country. Turkey President Talks of a New Economic Model The...

As the cryptocurrency industry progresses towards a mainstream adoption stage, Dubai, one of the seven emirates in the United Arab Emirates (UAE), also continues to solidify its position as one of the top crypto-friendly jurisdictions in the world. DWTC to Become Crypto Zone In a recent update from the nation, Dubai authorities have declared that the Dubai World Trade Center (DWTC), a government-owned event and exhibition venue, will soon become a comprehensive zone and...

Flori Marquez – Co-Founder of the cryptocurrency custodian BlockFi – expects FOMO to be the main factor, which will drive digital asset adoption in the next year. She concluded that the other two elements will be the talent shifting from traditional industries to the crypto sector and regulatory clarity. FOMO Will Be a ‘Huge Driver’ In a recent interview for Yahoo Finance, Flori Marquez – Co-Founder at BlockFi and Senior Vice President of Operations – opined that the digital...