Tag Archives: Regulations

State Duma – the lower house of the Federal Assembly of Russia – believes cryptocurrencies can be a highly dangerous financial tool for private investors. As such, the authorities intend to implement a regulatory framework on trading with them, a recent report claimed. Does Russia Need to Regulate Cryptocurrencies? According to local coverage, the Russian government reiterated its negative opinion on dealing with digital currencies. Anatoly Aksakov – Head of the Duma...

The United States continues to contemplate taking further action in regards to the growing crypto space. In the latest endeavor, the Justice Department has decided to create a task force to stop hackers from utilizing digital asset exchanges to conduct ransomware attacks. Ransomware on Exchanges As reported by Bloomberg, the new team’s goal is to target infrastructure that allows hackers to exploit their victims financially. Typically, this is done by freezing a victim’s data...

Ken Griffin – Founder and Chief Executive Officer at the multinational hedge fund Citadel LLC – stated that his organization will start offering cryptocurrency trading services only if there is “regulatory clarity.” However, he is not keen on the asset class, opining that it threatens the strength of the American dollar. Citadel Can Jump on The Crypto Bandwagon During a recent interview, billionaire Ken Griffin pointed out the necessity of imposing a regulatory framework on...

Jamie Dimon reiterated his negative stance on bitcoin, saying it serves as the “fool’s gold of the future.” He also opined that the entire cryptocurrency industry will inevitably be put under a regulatory framework. Bitcoin Has No ‘Intrinsic Value’ The Chief Executive Officer of JPMorgan Chase & Co. – Jamie Dimon – is, by all means, a cryptocurrency critic. During a recent interview for HBO, he gave his reasons why he is against the asset class. He scratched the hot topic...

Lord Fusitu – a Tongan barrister, landowner, and MP – is a fervent supporter of making Bitcoin a true currency inside the nation’s borders. He plans on tabling a bill to make Bitcoin legal tender alongside Tonga’s national currency, the pa’anga. Why Make Bitcoin Legal Tender in Tonga? Tonga is a small island nation and archipelago east of Australia. As reported by Financial Review, Fusitu’s first step towards adopting Bitcoin is to work with Jack Maller’s digital wallet...

Cynthia Lummis – Republican Senator and ardent crypto supporter – is showing caution around stablecoins. She recently said that they need to be cash-backed and regularly audited. Ensuring Proper Stablecoin Reserves The senator voiced her opinion in a speech on the Senate floor this Wednesday. The speech surrounded Lummis’ overall views on CBDC’s and stablecoins, in advance of the Federal Reserve’s report on the matter. Lummis acknowledged that stablecoins enable faster...

Speaking at CNBC’s Delivering Alpha conference on Sept. 29, a16z partner Katie Haun said the U.S. should look towards China for what not to do. She was referring to Beijing’s incessant crackdowns on the crypto industry and any activities related to the trade of digital currencies. In her view, financial regulators in the U.S. should be doing the exact opposite, but at the moment, it appears they are following in China’s footsteps with moves to over-regulate crypto rather than...

The world’s largest cryptocurrency exchange, Binance, continues to employ high-profile investigators as part of efforts to boost the company’s compliance measures. New Audit and Investigations Lead for Binance In an official press release on Thursday (September 30, 2021), Binance announced that Tigran Gambaryan will be the company’s new VP of Global Intelligence and Investigations. Gambaryan’s hire comes after working 10 years as a Special Agent with the US Internal Revenue...

Tesla’s CEO – Elon Musk – believes authorities are unable to “destroy” the digital asset industry. He advised the American government to let crypto “fly” instead of implementing legislation on it. Additionally, he gave his reasons why China has a hostile stance on cryptocurrencies. ‘Just Let It Fly’ In a recent interview with Kara Swisher, the prominent entrepreneur and business magnate – Elon Musk – shared his thoughts on some of the hottest topics in the digital asset...

The Chinese government is not holding back on its mission to stop all crypto activity in the country, and has continued to widen its crackdown against bitcoin and cryptocurrencies. Huobi Blocks New Chinese Users The intensified attacks have now forced Huobi, one of the major exchanges in the country, to suspend new user registration coming from China. Recall that crypto trading and mining crackdowns escalated in China on Friday after the nation’s central bank issued another...