Tag Archives: Regulations

Cryptocurrency regulations across different countries continue to be a hot topic, and Spain is the latest to join in. The nation’s watchdog has asked industry participants, investors, and consumers for their opinion, and they have until April 16th to respond. Spain’s Regulator Looks for Crypto Legislation According to a report from La Informacion, The National Securities Market Commission (CNMV), Spain’s watchdog overseeing the securities markets, has initiated the first...

The existing regulatory framework around cryptocurrency restricts Goldman Sachs from implementing its projects covering digital currencies, said the bank’s CEO, David Solomon. He added that customer demand has skyrocketed in recent months, which is the reason behind GS’s proactive crypto approach. US Rules Bring Challenges for Institutions Engaging with BTC Founded in 1869, Goldman Sachs is a giant US multinational investment bank that has displayed a somewhat controversial...

As nations are dabbling with establishing legislative frameworks on the cryptocurrency industry, several giants have formed a coalition to lobby policy makers and conduct researches to ensure the proper implementation of such rules.  According to a Wall Street Journal coverage from today, the prominent names to participate in the new initiative are the mutual fund behemoth Fidelity Investments, the financial service provider Square, the crypto-focused investment company...

Speaking at a City and Financial Conference today, John Glen said authorities need to regulate stablecoins due to the threat it poses should a major firm dominate the sector.  “There is the potential for some firms to swiftly achieve dominance and crowd out other players due to their ability to scale and plug into existing online services,” the financial services minister was quoted as saying.  Regulating the Wider Crypto Market Not Pressing Despite calls from financial...

After several years of investigation and court proceedings, the US District Court for the Southern District of New York granted a request by the CFTC to fine the mastermind behind a multi-million-dollar Bitcoin scam.According to an official press release issued by the CFTC. The Court ordered Benjamin Reynolds, owner of Control-Finance LTD, to pay more than $572 million in compensation for his fraudulent activities regarding a Bitcoin scam.Another Multi-Million Dollar Bitcoin Scam From 2017As...

Cathie Wood, the founder of Ark Investment Management, this week advised against Bitcoin investors using their holdings to transact.According to the current US tax code, investors must pay capital gains taxes not only when they convert their cryptocurrency to fiat but also when they use cryptocurrencies to pay for goods or services. While it is now possible to buy a Tesla with Bitcoin, users need to be aware of the taxes they could potentially face doing so.Cathie Wood. Source: BloombergWhat...

While the cryptocurrency landscape in India is still faced with regulatory uncertainty, the government has directed that companies should disclose details of their crypto transactions and holdings.Possible Crypto Regulation for India?According to a document published on March 24, both public and private firms in India care to disclose details of their cryptocurrency activities during the financial year. The new rule follows an amendment made by the country’s Ministry of Corporate Affairs to...

Hedge fund manager Ray Dalio shared his thoughts about the future of Bitcoin, stating that a crypto ban in the United States has “good probability.”Dalio outlined how central banks are interested in controlling the supply and demand of their respective country.They [banks] decided it was in their interest to have a monopoly on banking in a country,” adding that when other types of money, like crypto, create their own supply and demand “things could go bad.”- He said.Banks Don’t Want...

Binance has hired two former executives from world-renowned regulatory organizations – Rick McDonell and Josee Nadeau. The popular crypto exchange aims to enhance its AML and CFT endeavors and develop more robust relationships with law enforcement bodies worldwide. The Malta-based crypto exchange announced the latest hirings in a press release shared with CryptoPotato.  Rick McDonell is the former Financial Action Task Force (FATF) Executive Secretary and Executive Director to the Association...

The U.K. Financial Conduct Authority (FCA) noted that there has been a rising interest in cryptocurrencies from the younger generation, especially among women under age 40. The regulator said that most of these investors could not withstand the heavy losses associated with this form of investment.Young People Invest In Crypto For The “Thrills” Per the report, the FCA said its study showed that young people mostly delve into crypto investments because of the thrill and idea of owning a stake...