Tag Archives: Regulations

The political situation in El Salvador is only getting worse as the day approaches when the country will start adopting Bitcoin as legal tender. On September 7 of this year, the waiting period for the Bitcoin Law to become mandatory is over. According to the text of this Law, all economic agents must accept Bitcoin along with the dollar as a means of payment. Bukele promises that the measure seeks to benefit the people and save the country close to $400 million in remittance...

The UK Financial Conduct Authority has settled all of its issues with the world’s largest cryptocurrency exchange – Binance. The regulator published an update on August 25th to clear the company’s name two months after imposing restrictions on some of its operations. Back in late June this year, the FCA issued a warning shot against the exchange, saying that Binance Markets Limited “is not permitted to undertake any regulated activity in the UK.” The watchdog further asserted...

The crypto exchange Kraken does not want to lag behind in the race to dominate the global cryptocurrency market and is actively working on expanding beyond the United States. The first and also the most challenging destination is Europe. In an interview for the German news outlet Handelsblatt, Jesse Powell, CEO of Kraken, said that the exchange is in the process of getting a license to operate legally on the continent. Powell expects everything to be ready before the end of...

The owner of Bitcoin mixer Helix and resident of Ohio, Larry Dean Harmon, pleaded guilty to a one-count conspiracy to launder monetary instruments. Previously, US prosecutors alleged that the Bitcoin mixer laundered over $300 million. Bitcoin Mixer Operator Pleads Guilty Harmon pleaded guilty in the United States District Court for the District of Colombia on Wednesday (August 17th, 2021). According to a press release by the US Department of Justice (DoJ), the Ohio resident...

Leading crypto exchange Binance has recently increased its customer verification requirements amid mounting pressure from global financial regulators. All Binance Users Must Verify their Accounts In an official announcement on Friday, Binance said that all new users must complete “Intermediate Verification” procedures to gain access to services such as cryptocurrency deposits, trades, and withdrawals, with immediate effect. According to the exchange’s procedures, the...

The world’s leading cryptocurrency exchange has appointed Greg Monahan – a former US Treasury Criminal Investigator. Monahan will serve as Binance’s new Global Money Laundering Reporting Officer. The company announced its latest hiring in its attempts to comply with global watchdogs in a press release shared with CryptoPotato. It explained that Monahan has a 30-year of experience in credit government service, with a large part being as a US Treasury Criminal Investigator. He...

The Indian governing body will reportedly take measures to eliminate the use of cryptocurrencies as part of the country’s financial system. However, the existence of digital assets issued by the State is not threatened. Cryptocurrencies Fund Illegal Activities According to a recent report by The Economic Times, the government of India plans to crack down on the use of digital currencies as many criminals employ them to fund their illegal operations. The authorities believe...

The American television host – Jim Cramer – believes that cryptocurrencies need more regulation or otherwise the market could collapse. Additionally, he praised Ethereum as the best-performing digital asset. Regulation Could Prevent The Market from Falling apart In an interview for TheStreet, Jim Cramer revealed that he is a huge proponent of cryptocurrency regulations. In his opinion, setting the right rules in the industry would be beneficial for the entire market as they...

After a 10-month long regulatory battle with United States financial watchdogs, leading cryptocurrency derivatives exchange BitMEX has agreed to settle and will pay a fine worth millions of dollars. As confirmed by the exchange today, BitMEX has reached a $100 million resolution with the two U.S. regulators – the Commodity Futures Trading Commission (CFTC) and Financial Crimes Enforcement Network (FinCEN). Speaking on the settlement, BitMEX CEO Alexander Höptner noted that...

The nervousness caused by the ongoing discussions of the U.S. Infrastructure Bill does not seem to have affected Bitcoin traders at all. Bitcoin remained sturdy above the psychological barrier of $45,000 as the Bitcoin bulls went to battle a few hours ago. The U.S. Senate failed to reach an agreement on a series of amendments that would exclude decentralized cryptocurrency service providers – such as wallets, miners, and DeFi protocols – from being considered as “brokers.”...