Tag Archives: Regulations

The moment has come. Apparently, the SEC is ready to sue Ripple for issuing XRP as a non-registered security.After several years of uncertainty, it seems that U.S. regulators would be willing to answer once and for all the most crucial question that any member of the XRP Army has ever asked. Is XRP a security?According to Fortune, the American company received a notice on Monday that it would be sued by the SEC. Brad Garlinghouse, Ripple’s CEO, did not deny the news and, in fact, spoke out on...

UK’s Financial Conduct Authority (FCA) has informed that it will extend the registration time for existing cryptocurrency businesses. The regulator has set the new date to July 9, 2021.A New Deadline for Existing Crypto EstablishmentsThe “Temporary Registration Regime” will stretch the filing time by a few months – from the previously announced January 10, 2021, to July 9, 2021. According to the official FCA publication, the extension will affect already existing crypto establishments that...

Cynthia Lummis, Wyoming’s newly-elect Senator, doubled-down on her bullish stance on bitcoin in a recent podcast appearance. She hoped to introduce BTC to the government scene as she believes that the cryptocurrency should work alongside fiat currencies.The “Bitcoin Senator” On BTC Working With FiatAs reported by CryptoPotato in early November, Cynthia Lummis became the only elected female Senator during the 2020 elections and the first female Senator from Wyoming. Additionally, she has been...

Russia’s attempts to provide more clarity toward cryptocurrencies continue with a new amendment to the Digital and Financial Assets (DFA) – a law that’s already in effect. The country has signed a decree obliging Russian officials to reveal their digital asset investments by June 30th, 2021.Russian Officials To Disclose Crypto HoldingsAccording to local news, President Vladimir Putin has signed the decree on December 10th. Country officials have to disclose thorough information regarding...

Facebook shook the world last year after announcing plans to introduce a “single global digital currency” dubbed Libra. However, the social media giant’s efforts were quickly scalded by global regulators as the project received massive blowback.Facebook didn’t give up on its idea. Instead, the company decided to rebrand its two main products. Firstly, the Calibra wallet became Novi, and today, Reuters reported that the Libra name had been changed to Diem (meaning ‘day’ in Latin.) Stuart...

Russia’s attempts to establish clear legislation on digital assets continue. During a recent meeting that was primary focused on the COVID-19 consequences on the country’s economy, Prime Minister Mikhail Mishustin made a few remarks on cryptocurrency regulations.Mishustin called them a “relatively new tool, the interest in which is constantly growing.” As such, he believes that the world’s largest country by landmass has to put into motion a plan to steer the market in a “civilized...

Coinbase’s CEO Brian Armstrong has sent a letter to the US Treasury Secretary Steven Mnuchin regarding new rumored regulations on self-hosted cryptocurrency wallets. Armstrong believes that if implemented, the new legislation could harm users and, ultimately, the role of the US in the cryptocurrency financial field.New Regulations On Self-Hosted Crypto Wallets?The CEO of the largest US-based digital asset exchange took it to Twitter to outline the potential importance of these regulations if...

The Coinbase Chief Legal Officer Paul Grewal published a post earlier informing customers that the popular exchange will seize offering margin trading.Clients will not be able to place margin trading orders starting from 2 p.m. PT on November 25th, 2020. At the same time, the platform will cancel all open limit orders.The San Francisco-based exchange will disable the margin trading feature fully at the end of November, “once all existing margin positions have expired.”According to the...

2020 was a tough year for crypto, but it seems like the last few months are trying to compensate hodlers for the bad times. And now, the Office of the Comptroller of the Currency is bringing more good news to the crypto space.A recent regulatory proposal issued by the OCC seeks to ensure that crypto businesses enjoy the same facilities when it comes to having a bank account as any other legitimate endeavors.No More DiscriminationIn short, the OCC wants to end with the silent discrimination...

JP Morgan Chase & Co CEO Jamie Dimon believes that blockchain technology will have a significant role in global finance. During a recent presentation, he also seemed optimistic about cryptocurrencies if they are adequately regulated. However, Bitcoin remains “not his cup of tea” as it lacks clear legislative frameworks.Dimon’s History With BitcoinThe head of the giant American multinational investment bank has a compelling but not very favorable history with the primary...