The South Korean government has drafted an amendment to an existing law, which would require public officials to disclose their cryptocurrency holdings. According to the draft, public officials are abusing their positions, as well as the fact that the current Public Service Ethics Act does not specifically require them to disclose their digital asset holdings…
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The UK Parliament’s Treasury Committee has called for unbacked cryptocurrencies to be regulated in the same way as gambling, saying speculation in these assets “more closely resembles gambling than it does a financial service.” “Regardless of the regulatory regime, their price volatility and absence of intrinsic value means that unbacked crypto assets will inevitably pose…
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Cryptocurrency exchange Coinbase is honing in on Washington DC with a new TV campaign set to launch this week promoting the future of crypto amid its own fight with US regulators. In a black and white and almost two-minute long video, CEO Brian Armstrong lays out the benefits of crypto and calls out its “naive…
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US President Joe Biden has said he is not willing to ink a debt ceiling agreement that would benefit crypto traders. During the final day of G7 talks in Japan, Biden addressed the budget negotiations, claiming that the proposed terms by Republican leaders are “unacceptable.” “I’m not going to agree to a deal that protects…
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A committee of British lawmakers has recommended regulating crypto trading as gambling. Viewing retail trading of cryptocurrencies as more akin to gambling rather than a financial service, the U.K. Treasury Committee stated that “Cryptocurrencies such as bitcoin have no intrinsic value and serve no useful social purpose, while consuming large amounts of energy and being…
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Ripple is bringing on the chief financial officer of market researcher Nielsen to its board of directors, the crypto firm announced on Friday. Warren Jenson was added to the board and was also appointed as Ripple’s chair of the audit committee, overseeing the auditing process of Ripple’s operations, according to a press release. … Read More:…
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Decentralized exchanges (DEXs) and other aspects of the decentralized finance (DeFi) world can be regulated in the US, even though it is “just code,” according to Commodity Futures Trading Commission (CFTC) chair Rostin Behnam…. Read More: US CFTC Chair Rostin Behnam Says DeFi Crypto Exchanges Can Be Regulated – Here’s the Latest Read more »Sign…
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It is necessary to put an “end to the lawless crypto space,” according to the head of the Financial Action Task Force (FATF). G7 nations must set an example in implementing global standards on combating money laundering, the executive insisted, as little progress has been made in regards to introducing the organization’s new crypto rules.…
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Top Argentinian lawyers have criticized the government’s partial “ban” on crypto trading. Buenos Aires has moved to block firms from letting their customers conduct transactions with cryptoassets. This month, the Central Bank of Argentina stated that domestic platforms must not “facilitate” the purchase of crypto “from their applications or web platforms.” The bank wrote on…
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The Hong Kong Monetary Authority (HKMA) has announced the commencement of its e-HKD pilot which “will take deep dives into potential use cases in six categories.” The pilot paves the way for “the possible implementation of a retail central bank digital currency (CBDC),” the central banking institution explained. Pilot Program for e-HKD Begins The Hong…
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