Tag Archives: Regulations

Andrew Yang, who is currently running for the 2020 US Presidency, sat for an interview with Bloomberg, and he shared his stance on the matter of cryptocurrency regulations. According to him, the country needs to provide more clarity. However, he ultimately thinks that legislation can’t stop people to buy Bitcoin.Andrew Yang On Bitcoin RegulationsThe US Democratic presidential candidate Andrew Yang spoke to Bloomberg about cryptocurrency regulations in the country.According to him, the US...

The World Economic Forum (WEF) in Davos, Switzerland, ended yesterday with a significant mark on the cryptocurrency market. On the last day, WEF announced the first global consortium focused on designing a framework for the governance of digital currencies, including stablecoins.Global Consortium For Digital Currency GovernanceThe World Economic Forum for 2020 took place at Davos the past week, and cryptocurrencies received a lot of attention. Yesterday, during its last day, the Forum...

Banks in Hawaii, one of the fifty states in the US, would be able to provide cryptocurrency custodial services to investors under a new bill introduced by the state’s lawmakers late last week, should it pass approval.  If successful, the legislation would grant Hawaiian banks the right to hold and manage digital assets such as digital consumer assets, digital securities, and cryptocurrencies for their customers. The bill, which has already passed its first reading on Tuesday, is co-sponsored...

The Securities and Exchange Commission (SEC) of the US is tightening the noose around initial exchange offerings (ICOs). In yet another step against them, the Commission has brought charges against one more allegedly fraudulent ICO of unregistered digital asset securities.The SEC Is Getting Serious About ICOsThe SEC has pressed charges against defendants Sergii “Sergey” Grybniak and Opporty International, Inc. Per the complaint, the defendants Opporty and its sole owner, Grybniak, conducted a...

As a response to a legal case filed by the Internet and Mobile Association of India (IAMAI), the Reserve Bank of India (RBI) has now clarified that Bitcoin is not banned in the country. The nation’s central bank says that it has only restricted regulated financial establishments from dealing with anyone using digital assets.RBI in 2020: Bitcoin Not BannedThe IAMAI, also consisting of cryptocurrency exchanges, filed a petition against an RBI directive from 2018. It was considered that the...

The Australian Prudential Regulation Authority (APRA) has reportedly submitted a framework to oversee digital wallets holding large amounts of value. If approved, it would also include Facebook’s controversial stablecoin, Libra, and its digital wallet – Calibra.APRA To Oversee Calibra?Upon its announcement, Facebook’s Libra quickly attracted the attention of watchdogs. The social media mogul also created a blockchain-based digital wallet called Calibra, that would store and move the future...

South Korea might be changing its stance regarding taxing cryptocurrency trading profits. Just weeks after the government said that they wouldn’t tax any profits made from digital assets, a new report indicates otherwise. The country could purportedly classify crypto gains in the same category as lottery winnings and thus tax them with 20%.South Korea To Tax Crypto Profits?At the start of 2020, the Ministry of Finance and Strategy said that the current tax law does not consider cryptocurrency...

The critical situation between Telegram and the U.S. Securities and Exchange Commission (SEC) took another step forward. The market regulator now claims that the popular messaging company saw its upcoming Gram token as securities and thus should fall under established regulations.Is Gram Token A Security?Telegram’s controversy regarding its TON blockchain and its native cryptocurrency, Gram, continues. The SEC has recently filed another claim with the court in the Southern District of New...

The QuadrigaCX scandal was a landmark case that became a red flag for the entire cryptocurrency community. The aftermath of it, however, isn’t over. Securities regulators in Canada are now preparing to clamp down on cryptocurrency exchanges which take custody of digital assets.QuadrigaCX Aftermath: CSA Publishes A NoticeThe Canadian Securities Administration has issued a staff notice on January 16th which details how cryptocurrency exchanges will be treated. More specifically, the note makes...

It appears that the cryptocurrency community won’t be seeing an SEC Bitcoin ETF yet again, as Bitwise has withdrawn its application which was filed in January 2019. According to the official note, the move is largely due to the public interest and pursuant to existing regulations.Bitwise Withdraws Bitcoin ETF ApplicationA lot of people from the cryptocurrency community seem to believe that a Bitcoin exchange-traded fund will send the cryptocurrency to new all-time highs.However, so far, all...