Bored Gen DMCC, the issuer of islamic coin, has cooperated fully with the Virtual Assets Regulatory Authority’s ongoing investigation into the token’s issuance and distribution. Bored Gen, however, still needs to “secure appropriate approvals” before it undertakes to distribute the islamic coin (ISLM) in the Dubai market. BG Undertook Remedial Measures The United Arab Emirates…
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The Blockchain Association of Kenya has been asked to help create the country’s first draft bill on crypto asset regulation. The National Assembly’s Departmental Committee on Finance and National Planning also asked the association to undertake “robust public education on cryptocurrency trade to demystify it.” Kenya’s Initial Draft Crypto Bill A Kenyan parliamentary committee has…
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The Hong Kong Monetary Authority is reportedly planning to expand the purview of its supervision of virtual assets to include entities that issue stablecoins. The Hong Kong regulator said it also wants to create a framework that governs banks’ provision of virtual asset custody services. Hong Kong’s ‘Very Clear’ Rules The Hong Kong Monetary Authority…
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Hong Kong’s financial regulators The Securities and Futures Commission (SFC) and the Hong Kong Monetary Authority (HKMA) have released new guidelines on how intermediaries are to conduct virtual asset-related activities in light of new market developments…. Read More: Hong Kong Regulator Gives Green Light to Wider Retail Virtual Asset Investments With Applicable Safeguards Read more…
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The securities regulator and the central banking institution of Hong Kong have updated the region’s crypto policy in response to enquiries from the industry. In a circular on the virtual asset-related activities of intermediaries, the authorities introduced additional measures to protect retail investors, restricting their access to what they describe as “complex products.” Hong Kong…
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Dubai’s Virtual Assets Regulatory Authority (VARA) recently said the company distributing and marketing islamic coin (ISLM) lacks the authority to do so. VARA said Bored Gen DMCC must cease marketing activity until it obtains the appropriate approvals. The steps taken by the regulator came just a few days after the crypto project was named the…
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The Securities and Futures Commission (SFC) of Hong Kong has issued a warning to unlicensed providers of crypto trading services. Concerned about their engagement in “improper practices,” the regulator also said investors should be aware that some of these platforms may never actually apply for or obtain a license. Hong Kong’s SFC Threatens Crypto Exchanges…
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Although the proposed virtual asset regulatory framework in Oman covers FATF-defined assets, the issuance of privacy coins might get banned. The Sultanate of Oman is inching closer to launching its own virtual asset regulations, with its financial markets regulator seeking public comments on its proposed regulatory framework governing digital assets, such as cryptocurrencies. The Capital…
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The Namibian parliament recently passed a bill that aims to establish a regulatory regime for cryptocurrencies. According to the Namibian Finance Minister, safeguarding the interests of consumers and combating market abuse are some of the reasons why parliament has taken this step. Mitigating Money Laundering Risks The Namibian parliament is reported to have passed a…
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Players in the crypto space are attracted to the United Arab Emirates (UAE) because the region not only has clear rules but is also “open to experimentation,” Ben Caselin, the Vice President and Chief Strategy Officer (CSO) at the crypto exchange Maskex, has said. Caselin also said the UAE and the Middle East’s perceived neutrality…
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