Tag Archives: Regulations

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...

The Chamber of Senators of Paraguay passed a bill on Thursday that would regulate and commercialize crypto trading and mining activities in the country. Paraguay’s Senate Approves Crypto Bill Sen. Fernando Silva Facetti, one of three senators sponsoring the legislation, confirmed the approval on Twitter, saying that the bill now awaits deliberations from the Chamber of Deputies of Paraguay next year. (1/3) Today, after an intense debate, the Senate @SenadoresPy approved...

The International Monetary Fund (IMF) has recently published some recommendations on how to effectively regulate the cryptocurrency sector around the world. In a recent blog post, the IMF acknowledged that crypto assets are rapidly revolutionizing the entire global financial system. However, policymakers still struggle to monitor the risks associated with the market. Regulators Must Act Fast The financial institution pointed out that the rapid growth of the crypto space has...

The world’s largest digital asset exchange – Binance – reportedly plans to work with Indonesia’s richest family – the Hartono brothers – to establish a cryptocurrency venture on the island. The endeavor would enable the company to enter into a developing country with a population of around 273 million, many of whom lack access to financial services. Binance Eyeing Indonesia The leading digital asset trading venue has faced regulatory backlash from many watchdogs in recent...

The central bank of Thailand reportedly urged local financial institutions to stay away from cryptocurrencies citing risks coming from their enhanced volatility. It added that the broad employment of bitcoin and the altcoins could also impact the Bank of Thailand’s ability to monitor the national economy. BoT Against Crypto Trading According to a coverage by The Bangkok Post, the Bank of Thailand (BoT) does not want local banks to be directly involved in digital asset...

Today, a major hearing took place on Capitol Hill titled “Digital Assets and the Future of Finance: Understanding Innovation in the United States.” It featured top crypto industry CEOs, including Jeremy Allaire, Sam Bankman-Fried, Brian Brooks, and more. Here’s what some of them told financial regulators about the ideal regulatory landscape. North Carolina Rep Patrick McHenry prefaces the hearing by asking how to ensure the crypto industry grows within the United States and...

People in Colombia will soon have a new option to buy their favorite cryptocurrencies using their bank accounts just as easy as they buy any other product. The US-regulated cryptocurrency exchange Gemini announced that it had finally completed all the necessary steps to move to the implementation phase of a project that would allow Colombians to buy cryptocurrencies with the funds stored on their Bancolombia accounts. This partnership is of great importance for the...

At the stage of the 2021 Global ETP Conference, Sohn Byung-doo stated that the digital asset industry is not very different from capital markets. The exec emphasized the need for investor protection and transaction stability support. The KRX Chief Wants To Study Crypto So far, Bitcoin and cryptocurrencies remain outside the domestic regulatory scope that covers the traditional financial sector. On that note, Byung-doo highlighted the growing number of crypto investors in...

The President of the Russian Federation – Vladimir Putin – believes bitcoin and the alternative coins bear high risks for investors. However, he predicted that the asset class might play a significant role in the future financial network. ‘The Volatility Is Colossal’ The 69-year-old politician aired his thoughts about the cryptocurrency space during the “Russian Calling” investment forum in Moscow, reported by RBC. According to Putin, private digital assets are highly...