Tag Archives: Regulations

According to a fresh release, companies that transfer BTC or other cryptocurrencies must collect information about the senders and recipients if proposed EU regulations come into force. In a bid to end anonymous cryptocurrency wallets, the Europoean Commission has proposed a law that would require companies that transfer BTC and other cryptos to collect information about the sender and the receiver. This, according to a recent press release, aims to crack down on illicit...

Turkey’s Deputy Minister of Treasury and Finance – Şakir Ercan Gül – revealed that the officials have completed the draft bill with the regulatory framework for cryptocurrencies and will present it to the Parliament in October 2021. He opined that the Asian country needs to learn from Western Europe and the USA but should implement stricter rules. The Crypto Bill Is Ready According to a recent report, the Turkish Deputy Minister of Finance – Şakir Ercan Gül – stated that the...

As crypto ownership and interest continue to rise in the UK, the country’s financial watchdog, the Financial Conduct Authority (FCA), is planning to launch a £11m ($15.25 million) marketing campaign to warn young investors about risks associated with crypto investments. FCA Targeting Millennials According to the regulator, the ads, which will be targeted at UK residents within the ages of 18 to 30 years, will inform them about the risks involved in purchasing Bitcoin (BTC),...

Although numerous banking organizations have restricted their users from interacting with Binance, Visa and Mastercard have reaffirmed their belief in the world’s largest crypto exchange. With the growth of its services and popularity, Binance attracted regulatory scrutiny from various global watchdogs, as CryptoPotato explained recently. While the exchange’s attempts to enhance its compliance requirements continue with the employment of new personnel, some financial...

Jihan Wu, the founder and former CEO of the crypto mining company Bitmain, believes regulations are necessary for the cryptocurrency industry. In fact, they could be beneficial for the space as it would isolate it from bad actors and fraudulent activities. Wu: Crypto Regulations Are Healthy The topic of implementing a legislative framework around the crypto market has become wildly discussed in the past year or so as prices blossomed to new highs. Global watchdogs have...

Binance, the world’s largest cryptocurrency exchange by trading volume for recent years, has faced lots of scrutiny from various watchdogs lately. Keeping in mind that it’s one of the most important companies in the crypto industry, as of today, it’s worth exploring what could be the impact of this threat for the entire industry, or whether it’s just a temporary FUD. The Growing List of Regulators After Binance Founded in 2017 following a successful $15-million ICO, Binance...

The European Union is set to launch a new agency to take severe measures on money laundering across its borders. Cryptocurrencies have the ability to take part in illicit financial operations as well, and the new department will put them under its scope of regulations. Crypto Under The Radar of the EU According to a recent Reuters report, the European Union is looking to propose a new agency to set new transparency monetary rules, to fight money laundering, and even prevent...

Bitcoin failed to produce any notable gains over the past week, and the same can be said about the entire cryptocurrency market. It appears that the most recent regulatory clampdown in China and talks of legislation in other countries continue to take their toll. At the time of this writing, BTC is trading at around $33,500, which is more or less exactly where it was last Friday. It started pushing forward over the past weekend, but the advance was halted on Monday, at around...

Democrat Senator Elizabeth Warren continues to bash the cryptocurrency space by calling the market “highly opaque and volatile.” Nevertheless, she believes the US watchdog – the SEC – needs to step up and implement a proper regulatory framework to enhance investors’ safety amid their growing demand. Surging Demand for the Opaque Crypto Market It’s not uncommon for those in power to lash out against the decentralized and unregulated nature of the cryptocurrency market....

The Swiss banking giant UBS sounded a note of caution to its customers that regulatory crackdowns can pop the “bubble-like” crypto markets. Furthermore, they said bitcoin might become an unsuitable option for professional investors. Beware of Popping The Bubble In a recent note, the multinational investment bank – UBS Group AG – warned its clients about the current dangers in the crypto market. Executives of the Switzerland-based institution opined that the recent regulatory...