Category: cryptoassets

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Kraken Adjusts Margin Product to Comply With Australian Crypto Law, Calls for Clearer Regulation

The Australian Federal Court ruled that Kraken’s fiat margin extensions are subject to regulatory obligations, but crypto margin extensions are not. Kraken acknowledged the decision but stressed the need for clearer crypto regulations in Australia. Following the ruling, Kraken adjusted its margin product to restrict fiat margin trading for non-wholesale investors, while crypto margin extensions…
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Crypto retail trading should be regulated as gambling: UK lawmakers

The volatility and purported lack of intrinsic value of most crypto assets make it particularly risky for consumers, the politicians claimed. The trading of so-called “unbacked cryptoassets” such as Bitcoin (BTC) and Ether (ETH) should be regulated as gambling rather than a financial service, a panel of British lawmakers said in a new report.  The…
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UK Law Commission Publishes Proposals to Reform Laws Relating to Digital Assets — Says Reforms Must Not ‘Stifle Development’

According to the Law Commission, the United Kingdom statutory body, digital assets play an increasingly important role in modern society and as such, the law relating to these must be reviewed. Reforming the laws will not only protect the rights of users and maximize the potential of digital assets but can potentially position England and…
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Bank of England’s PRA raises budget $31M for ‘emerging risks’ like crypto

The regulator says it’s “committed to keeping pace” with the risks of “the growth of crypto assets”, upping its budget by $31 million in preparation. The Bank of England’s regulatory arm has raised its budget by $31.6 million (£24.3 million) for the coming financial year saying that costs have increased due to its growing responsibilities…
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