The regulatory environment in the U.S. doesn’t look good for crypto but the United States has the potential to lead again, according to Binance CEO Changpeng Zhao (CZ). The founder of the world’s largest digital asset exchange is convinced stablecoins can increase use cases for the U.S. dollar and praises the pro-crypto stance of Republican…
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Christy Goldsmith Romero pointed to the collapse of FTX, Terra and Celsius in having the CFTC reconsider the way it handled risk management. Christy Goldsmith Romero, a commissioner with the United States Commodity Futures Trading Commission (CFTC), has commented on a proposal amending the government body’s Risk Management Program with respect to digital assets. In…
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The Tanzanian central bank said on May 31 that foreign currency dealers are required to trade all transactions that exceed $1,000,000 within “interbank foreign exchange market prevailing quoted prices.” According to the Bank of Tanzania, the latest directives are intended to “foster macroeconomic stability and safeguard the stability of the financial system.” Forex Dealers Must…
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A study commissioned by the European Parliament has proposed that all crypto assets should be treated as transferable securities by default. To avoid being classified as a security, the study’s authors proposed that the intermediary behind a crypto asset can get an exemption from a national competent authority (NCA), meaning the relevant regulatory authority in…
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The framework under the bill would allow certain tokens to qualify as digital commodities if they were decentralized and crack down on the SEC’s previous approach to crypto. Lawmakers with the United States House Financial Services Committee and House Agriculture Committee have released a draft discussion offering certain crypto assets a pathway to being labeled…
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The US Commodity Futures Trading Commission is taking a closer look at its rules governing risk management, with an eye towards digital assets. The agency published an advanced notice of proposed rulemaking on Thursday, asking for public comment on risk management requirements for swap dealers and futures commission merchants. CFTC Commissioner Christy Goldsmith Romero said…
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Cryptocurrency miners in Russia have extracted digital currencies for around $700 million last year, according to a state-run fintech entity. However, the growing industry remains unregulated with the government having postponed the adoption of the respective legislation once again. Russian Crypto Miners Produce Coins for up to 60 Billion Rubles in 2022 Miners operating in…
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A body representing the interests of Russian businesses has called on president Putin to help with crypto legalization. Their proposals, including on the use of cryptocurrencies in foreign trade settlements, have been included in a report to Russia’s head of state. Companies Urge President Putin to Support Legalization of Crypto Payments Russian businesses are seeking…
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Binance, the world’s largest crypto exchange by trading volume, is planning to delist a number of privacy coins for users in Spain, France, Italy and Poland. The coins that will be delisted are all privacy-focused coins that are designed to make it difficult for third-parties to trace transactions and get information about wallet balances…. Read…
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The European Union’s new Markets in Crypto-Assets (MiCA) rules were on Wednesday signed into law by European officials. The signing into law of the new and comprehensive regulatory framework for crypto was done by European Parliament President Roberta Metsola and Swedish Rural Affairs Minister Peter Kullgren, after the legislation passed a vote in the European…
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