Emerging analytics technology is the name of the game for the next stage in crypto regulation. New York’s financial regulator is asking for new tools to gather real-time financial data. On Thursday, the New York Department of Financial Services announced new details of its coming “techsprint” competition: “The objective of the techsprint is to achieve…
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The next leader of the U.S. securities regulator seems to be sympathetic to the mission of decentralization. This is the third article in a three-part series based on Gary Gensler’s extensive prior public statements on crypto. Here are parts 1 and 2. Cointelegraph has been busily digging through a treasure trove of likely future Chairman…
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The Dubai Financial Services Authority is reportedly looking to introduce two crypto-related consultation papers as part of its business plan in 2021. The Dubai Financial Services Authority, the financial regulatory agency for the special economic zone, the Dubai International Financial Centre, is looking to enhance local cryptocurrency-related regulations. The DFSA is planning to introduce a…
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The South Korean arm of global crypto giant Huobi has acquired an ISMS certification to comply with the upcoming Special Payment Act. Huobi Korea, the South Korean arm of the world’s second-largest cryptocurrency exchange by trading volume, has been certified by a major regulator. According to an announcement on Jan. 18, the Korea Internet and Security…
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China is building a new system to integrate international central bank digital currencies as part of its national blockchain project, the BSN. The Chinese national blockchain project, the Blockchain Service Network, is planning to pilot integration with global central bank digital currencies. According to a Jan. 15 blog post, the BSN is looking to build…
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Anatoly Aksakov of the Russian State Duma suggested that global jurisdictions should ban Bitcoin as a payment method. Anatoly Aksakov, a member of the Russian State Duma, has reiterated his negative stance on Bitcoin (BTC) shortly after the cryptocurrency briefly retouched $40,000 on Jan. 14. In an interview with local news agency TASS, Aksakov argued that…
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This is a big win for the crypto industry today, which was unanimous in opposition to a new anti-money laundering rule that many saw as rushed and draconian. In response to a deluge of comments, the United States Treasury Department’s Anti-Money Laundering office is slowing its roll on a rushed proposal to monitor a whole…
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Brooks is optimistic that regulators will find it easier to work with algorithms than with bankers. In an opinion piece published in the Financial Times on Tuesday, Acting Comptroller of the Currency Brian Brooks put forward the need to reconfigure banking regulations for an age of algorithms. Brooks, who currently leads the Treasury’s Office of…
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There is no indication that anyone requested such a proof-of-concept, however. Enterprise blockchain platform Hedera Hashgraph has presented a proof-of-concept, or PoC, to the Texas Secretary of State, showing the potential of blockchain technology to issue, secure and verify documents. The PoC was a collaboration with content services provider, Hyland, and was spearheaded by trade…
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In addition to trying to define stablecoins, the U.K. is looking to establish how close it wants its crypto laws to be to other countries. Her Majesty’s Treasury requests and requires the crypto industry’s input on prospective regulation. In a Thursday announcement of open consultation, the United Kingdom’s finance policy department is asking the crypto community…
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