Tag Archives: Regulations

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It appears that the cryptocurrency community won’t be seeing an SEC Bitcoin ETF yet again, as Bitwise has withdrawn its application which was filed in January 2019.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...

With initial coin offerings (ICOs) virtually gone and initial exchange offerings (IEOs) now dominating the crypto industry as the newest method of fundraising for blockchain projects, the United States Security and Exchange Commission (SEC) has warned US investors to be cautious when investing in them.The regulator issued an official notice today, warning crypto investors that IEOs and ICOs are very much alike and may still be subjected to federal securities laws.According to the Commission,...

In a recent interview with Cheddar, Heath Tarbert, Chairman of the CFTC, sat down to talk about Phase 1 of the upcoming U.S.-China trade deal, slated to be signed on Wednesday of this week.According to Tarbert, the trade deal will “be an immense success,” and that once the agreement is signed, we’ll start to see U.S. markets, such as energy and agriculture, coming back to where they were initially before the trade war with China began a few years ago.Tarbert also talks about his primary...

The cryptocurrency market has been known, at large, for the fact that there’s a lack of regulation in certain aspects. Whether or not one considers this as a positive or negative feature, the fact of the matter is that slowly but surely, market regulators are inserting their views and rules.With so many different sorts of regulations being forced on the crypto market, let’s dive into what’s to come, what could be the change, and ultimately – is it good or bad for Bitcoin and the...

The US State of Illinois made a massive step towards further blockchain adoption. According to the Blockchain Technology Act, which took effect on January 1st, blockchain-based smart contracts satisfy the law under certain circumstances.Smart Contracts Admissible In CourtOne of the biggest challenges in front of regulators when it comes to crafting legislation for the cryptocurrency field is definitions. The SEC, for instance, has been struggling for quite some time before stating that...

Telegram appears to have caught a break with the recent case filed by the U.S. Securities and Exchange Commission (SEC). The company recently refused to share its financial records with the market regulator, and now the New York court has ruled against SEC’s demand.SEC Request DeniedThis year started on the wrong foot for Telegram, as the SEC recently requested the firm’s financial records to explain what it did with the $1.7 billion raised for the TON blockchain. As Cryptopotato reported,...