The chairman of the Commodity Futures Trading Commission (CFTC), Rostin Behnam, has stated that many digital assets are considered commodities under existing law. Behnam urged the U.S. Congress to hasten the process of establishing a regulatory regime for cryptocurrency. He also emphasized that he and Gary Gensler, the U.S. Securities and Exchange Commission chairperson, “get…
Read more
Momint, a Web3 marketplace app, has said South African residents can now use cryptocurrency to purchase shopping vouchers which are accepted by over 10,000 retailers. The Momint app can also be used to send cross-border remittances at a fraction of the fees charged by regular money transfer companies. Vouchers Accepted by Popular Businesses Momint, a…
Read more
Under the current variation of the law, there is no explicit procedure outlined for law enforcement officers to seize illegally obtained crypto from crime organizations. Japan’s Justice Ministry is reportedly considering a revision of an asset seizure law relating to organized crime to include a stipulation that crypto can be commandeered in such instances. If…
Read more
The South African Treasury says it expects the amendments to the country’s financial laws — that will see crypto asset service providers being included as accountable institutions — to be finalized in 2022. Aligning Local Laws With FATF Standards The South African Treasury has said it expects the proposals to include crypto asset service providers…
Read more
India is reportedly working on a new way to regulate cryptocurrencies. “The government is planning to define cryptocurrencies in the new draft bill that also proposes to compartmentalise virtual currencies on the basis of their use cases,” according to a report. How India Will Regulate Cryptocurrencies India is reportedly planning to regulate cryptocurrencies as commodities…
Read more
