Tag Archives: Regulations

The Q3 woes have not hindered FTX.US from posting impressive figures for the same time period. As a matter of fact, the platform claims to lead all crypto asset exchanges in the United States with respect to liquidity. FTX.US’ Volume Soars More Than 500% According to the latest report, the average daily volumes of FTX.US have surged by an astonishing 512% in its Q3 than the previous quarter. The metric even increased to $807 million during a 24-hour period on the 7th of...

The National Ulema Council (MUI) has reportedly announced a ban on the use of crypto, citing Shariya law. Even as the Indonesian government has acknowledged crypto as a commodity, it still cannot be legalized under Islamic law. According to the reports, the head of religious decrees, Asrorun Niam Soleh, stated that the rejection ignites from the thesis that cryptocurrencies are riddled with “uncertainty, wagering, and harm.” However, the Chairman of the MUI’s Fatwa Commission...

Bitcoin ETFs have been a smash hit this year, especially since the launch of the first futures one in the United States last month. But the Spanish counterpart may not be far behind as well. As a matter of fact, the Spanish multinational financial services company Banco Santander is looking to release its very own Bitcoin exchange-traded fund (ETF). The appetite for Bitcoin and other cryptocurrencies is growing at an unprecedented rate. Realizing the need to cater to this...

The government of Kazakhstan reportedly plans to put local companies working with digital assets under its regulatory scope. According to a proposed bill, those entities will have to give detailed information about their crypto operations to the country’s financial watchdogs to prove they have no connections to money-laundering schemes. Kazakhstan May Tighten Its Crypto Rules As reported by the local media Sputnik, the National Parliament of Kazakhstan passed a bill to make...

The US Congress has just passed legislation that could potentially change the way Americans think about Bitcoin and the cryptocurrency industry. The approval of the infamous Infrastructure Bill, which received a final vote of 226 to 206, is a controversial moment for the budding industry. If the bill is signed by US President Joe Biden, then most of the crypto businesses registered in the United States —like Coinbase, Kraken, or even a DEX developed in America— would be...

Pat Toomey – Senator and ranking member of the Senate Banking Committee – is not finished fighting the infrastructure bill. He recently vowed to fix flawed language within the legislation that stirred major controversy in August. He’s also taken issue with the newly released stablecoin report, which recommends regulating their issuers like banks. Correcting Language On “Crypto Brokers” The senator aired his thoughts during an interview with Yahoo Finance. In conversation with...

The leader of the Iran Blockchain Association (IBA) – Abbas Ashtiani – opined that the country’s central bank (CBA) is not capable of implementing a comprehensive regulatory framework on digital assets. As such, the authorities need to develop an “independent counsel” to resolve the issues. How Will Iran Regulate Crypto? Imposing regulations on the digital asset industry is a policy that each government takes quite individually. While China completely banned crypto mining and...

Andrew James Bragg, Australia’s senator for New South Wales, recently acknowledged that cryptocurrency enthusiasts in the country are very eager to receive regulations on their activities in the country. Demand for Regulation Continues to Increase In an official statement on Tuesday, Bragg noted that a clear and comprehensive regulatory framework for digital assets will increase market stability, among other things. Bragg, who is currently serving as the chairman of the...

Gary Gensler – chairman of the Securities and Exchange Commission (SEC) – recently revealed the US government’s completed stablecoin report. It outlines risks associated with such tokens and provides “prudential” recommendations to congress on how to address them. Stablecoins: Benefits and Risks The POTUS’ Working Group on Financial Markets (PWS) produced the report in collaboration with the Federal Deposit Insurance Corporation (FDIC) and the Office of the Comptroller of the...

Ravi Menon – the head of the Monetary Authority of Singapore – sees a lot of potential in the cryptocurrency industry. As such, he vowed that the local regulator will not ban the asset class but rather implement an appropriate regulatory framework on it. The executive also raised hopes that Singapore can become one of the global leaders in the cryptocurrency space. Banning Crypto Is Not on The Agenda In a recent interview for Bloomberg, Ravi Menon – Managing Director of the...