Category: crypto regulations

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Elizabeth Warren and 100 Lawmakers Push Biden on Crypto-Terrorism Action, Despite Less Than 1% Illicit Use

October 18, 2023

Elizabeth Warren, the Democratic senator from Massachusetts, is alarmed by the potential of crypto-fueled terrorism. She has rallied over 100 policymakers and approached the Biden administration, urging the executive branch to tackle this pressing issue. The news follows Warren’s recently introduced “Digital Asset Anti-Money Laundering Act.” Warren Leads Charge Against Crypto’s Role in Terrorism; Seeks…
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SEC Chairman Gary Gensler Warns AI Could Spark Financial Crisis in Next Decade

October 18, 2023

U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler has warned that artificial intelligence (AI) could spark a financial crisis in the next decade. Noting that he has raised this concern at the Financial Stability Board and at the Financial Stability Oversight Council, the SEC chief stressed: “I think it’s really a cross-regulatory challenge.” SEC…
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Binance Stops Accepting New Users in UK to Comply With Crypto Regulations

October 18, 2023

Binance has announced that it will no longer accept new users in the U.K. in order to comply with new crypto regulations from the Financial Conduct Authority (FCA). Binance explained that it is currently looking for an FCA-authorized firm to review and approve its U.K. financial promotions in compliance with the new rules. Binance Halts…
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Blackrock CEO Larry Fink Sees Global Demand and ‘Pent-up Interest in Crypto’ Amid Israel-Hamas War

October 18, 2023

Larry Fink, the CEO of the world’s largest asset manager, Blackrock, sees the recent bitcoin rally as “an example of the pent-up interest in crypto.” Noting that as the Israel-Hamas war rages on, more people will be running to bitcoin as “a flight to quality,” the executive emphasized: “We are hearing from clients around the…
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SEC to Intensify Crypto Market Monitoring and Examinations

October 18, 2023

The U.S. Securities and Exchange Commission (SEC) has published its examination priorities for 2024 which include crypto monitoring and examinations. The securities regulator disclosed: “Examinations of registrants will focus on the offer, sale, recommendation of, advice regarding, trading in, and other activities in crypto assets or related products.” Division of Examinations’ 2024 Priorities The U.S.…
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G20 Calls for ‘Swift and Coordinated Implementation’ of IMF Crypto Roadmap

October 15, 2023

The G20 finance ministers and central bank governors have adopted the roadmap on crypto assets proposed by the International Monetary Fund (IMF) and the Financial Stability Board (FSB). “We call for swift and coordinated implementation of the G20 Roadmap,” the finance chiefs announced at their latest meeting. G20 Finance Chiefs’ Communique on Crypto Assets The…
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Ripple’s Legal Chief Calls for ‘Rational’ Crypto Regulation — Urges US to Stop Elevating Politics Over Sound Policy

October 15, 2023

Ripple’s chief legal officer says the U.S. needs to ”stop elevating politics over sound policy.” Noting that countries and regions outside of the U.S., such as Singapore, the U.K., the EU, and Japan, welcome crypto businesses, he emphasized: “I think we need a rational regulatory framework.” Moreover, he stressed that certain regulatory agencies in the…
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India’s Central Bank RBI Launches CBDC Pilot in Call Money Market

October 14, 2023

India’s central bank, the Reserve Bank of India (RBI), has initiated a pilot for a second use case of its wholesale central bank digital currency (CBDC), focusing on the call money market. The Indian central bank reportedly plans to expand its e-rupee testing to cover the entire wholesale segment, including asset tokenization and repo transactions.…
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7 Senators Urge Treasury and IRS to Rapidly Implement Crypto Tax Reporting Rule

October 13, 2023

Seven U.S. senators have called on the Treasury Department and the Internal Revenue Service (IRS) to “implement the proposed crypto broker reporting rule as rapidly as possible.” The lawmakers stressed: “We are alarmed by the self-inflicted two-year delay for the rule’s implementation.” Senators Want Crypto Tax Reporting Rule Implemented Swiftly Senators Elizabeth Warren, Angus King,…
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Coinbase Executive Urges Congress to Pass ‘Sensible’ Crypto Legislation Swiftly as Middle East Conflict Escalates

October 13, 2023

Coinbase’s chief legal officer has called on U.S. Congress to pass sensible crypto legislation following reports that Hamas has amassed millions in cryptocurrency amid the escalating Middle East conflict. “We need this industry flourishing in nations committed to the rule of law, not driven to places where human rights and public safety mean much less,”…
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