Tag Archives: Regulations

The Switzerland government has rejected the 100 million Swiss Francs ($102.7 million) funding request made by the country’s famous Crypto Valley, according to a local media report.Located in the heart of Zug, Crypto Valley is a fintech friendly region with favorable regulations for cryptocurrency and blockchain startups, making it a much-celebrated blockchain hub. Despite the open arms towards blockchain technology, the recent COVID-19 pandemic has forced many private equity investors to...

Months after India’s Supreme Court lifted a 2-year-old directive against cryptocurrency usage in the country, the Reserve Bank of India (RBI) is still not cooperating with digital asset businesses. Several exchanges have requested clarifications from the bank regarding their status as the scrutiny from lenders continues.Crypto Exchanges Contact RBIA local report from today indicated that digital asset exchanges are still unclear regarding their stance. Therefore, many platforms have written...

Cryptocurrency prices are quite susceptible to news, according to a recent paper. While, somewhat unsurprisingly, adverse announcements lead to immediate sharp declines, the establishment of clear regulations tends to mark serious market gains.Crypto Reactions For News And RegulationsThe report compiled by the Federal Reserve Bank of Dallas initially questioned the efficiency of instituting actual regulations on cryptocurrencies. It argued that digital assets can “function without...

The G20’s Financial Stability Board (FSB) has issued ten recommendations for a common regulation on stablecoins. Their growing usage and volume may undermine financial stability if world governments don’t set up the necessary legislation.FSB’s Recommendations For Stablecoin RegulationReuters reported earlier today the FSB’s intentions to “proportionately” regulate stablecoins. The agency has developed a paper, which it will deliver to G20 finance ministers and central bank governors during a...

New regulations for cryptocurrencies are in the making in the EU. Lawmakers are considering creating a new regulatory body after the parliament has published a paper pointing out some legislative “blind spots” concerning the supervision of crypto assets in the European Union.Lawmakers Say Crypto Mining Might Be Used for Money LaunderingIt’s a bit of a throwback to December 2019 when The Fifth Anti-Money Laundering Directive (5AMLD) – an updated legislation version, was announced. The updated...

The unexpected COVID-19 outbreak is delaying the adoption of Russia’s legislation “On Digital Financial Assets,” according to a government official. However, he outlined that the law is completed. It will define cryptocurrency usage in the country, but it will also ban them from being used as a means of payment.Russia Postponing Crypto Law (Again)Russia’s law regarding digital usage in the country has been discussed since early 2018, according to Anatoly Aksakov, head of the Duma committee on...

Malta’s financial regulator has issued warnings against two cryptocurrency exchanges that claim to have valid licenses to operate in the country. The nation’s watchdog denied that COINMALEX and Crypto Foxtrades operate under local legislation, and advised potential customers to refrain from using them.MFSA Versus Crypto FoxtradesThe first warning issued by the Malta Financial Services Authority (MFSA) was aimed at an entity operating under the name of Crypto Foxtradex. It’s a cryptocurrency...

Despite the recent increased interest in cryptocurrency-related businesses in India, most firms have not registered yet with the country’s Registrar of Companies (RoC). The nation’s Minister of State for Finance and Corporate Affairs revealed the findings as a response to a previously submitted investigation report that looked into fraudulent “bit coin companies.”Fraudulent Cryptocurrency Companies in IndiaMember of the Indian parliament, Mohammed Faizal, recently raised three questions with...

Bitcoin recognition continues – This time from the French Commercial Court of Nanterre. Having to establish its role during a lawsuit, the Court ruled that the largest cryptocurrency is a “fungible intangible asset,” similar to fiat money.Bitcoin Is MoneyBack in 2014, Paymium, a French exchange platform loaned 1,000 Bitcoins (worth $9.1 million at the time of this writing) to an English alternative investment company BitSpread.However, after the August 2017 Bitcoin fork that eventually...

South Korea is following in the footsteps of India in terms of legalizing cryptocurrency trading and holding after passing a new amendment a few hours ago. From now on, digital assets are entirely legal in the East Asian nation.Cryptocurrencies Now Legal In South KoreaCryptocurrency trading is now entirely into the legal system for the South Korean government, according to a local report. To receive this outcome, the National Assembly amended the Act on Reporting and Use of Specific Financial...