Tag: Regulation

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Thai Prime Minister Cautions Investors Getting Into Crypto as Interest in Digital Assets Soars

October 24, 2021

The prime minister of Thailand has cautioned investors getting into cryptocurrencies, noting that they are volatile and highly speculative. Recently, interest in cryptocurrencies has soared as young investors in the country discovered that they could make money quickly by investing in cryptocurrencies. Thai Prime Minister Warns About Crypto Investing Ratchada Thanadirek, deputy spokeswoman for the…
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Investment Advisers Prohibited From Crypto Activities in India, Regulator Warns

October 23, 2021

The Securities and Exchange Board of India (SEBI) has issued a warning that registered investment advisers are not allowed to engage in unregistered activities. This warning includes crypto activities since crypto is currently an unregulated industry in India. SEBI Warns Registered Investment Advisers Cannot Engage in Crypto Activities Indian securities and commodity market regulator, the…
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Australian Senators pushing for country to become the next crypto hub

October 23, 2021

The Australian Senate Committee delivered a report calling for a complete overhaul of crypto legislation and licensing in the country. On Oct. 20, the Australian Senate Committee delivered a groundbreaking report calling for a complete overhaul of crypto legislation and licensing in the country. But, will it achieve its aim of transforming Australia into an…
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Pakistan Government Not Against Crypto Investments, High Court Calls for Regulations

October 23, 2021

The executive power will not oppose cryptocurrency investments, a high-ranking government official has told lawmakers in Pakistan. The statement comes as a regional high court has urged the federal government to regulate cryptocurrencies and formed a committee to look into the matter in the coming months. Minister Says Pakistan Government Has No Objection to Investments…
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Spanish Banks Interested in Offering Crypto Assets to Their Customers

October 22, 2021

Spanish banks are preparing for the possibility of offering crypto assets directly to their customers. According to new regulations, the Bank of Spain must formulate a list of virtual asset service providers and custody companies. However, these institutions are still not sure if they must apply, because banks already comply with anti-money laundering directives derived…
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Australia Needs Regulations to Facilitate Crypto Business, Senate Committee Reports

October 21, 2021

A Senate committee in Australia has made a number of proposals to address the lack of proper regulations for the cryptocurrency space. The lawmakers believe the country needs new rules for its fintech and digital asset industries to be able to compete with jurisdictions that are already attracting some of its own crypto firms. Senate…
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Treasury official acknowledges most crypto transactions are ‘legitimate’ but still anticipates additional sanctions

October 21, 2021

“The vast majority of digital assets are being used for legitimate purposes, but for those that are primarily in the business of furthering criminal enterprises, we plan to use our tools to go after them,” said Wally Adeyemo. Wally Adeyemo, the Deputy Secretary of the United States Department of the Treasury, said the department would…
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Nigerian Agency Refuses Blockchain Start-Up Application — Says Tech Not Recognized by Government

October 21, 2021

Nigeria’s company registration agency, the Corporate Affairs Commission (CAC), reportedly rejected an application for registration by a start-up on the basis that blockchain is yet to be recognized by the Nigerian government. Decision Disappoints Blockchain Community According to a report, the unnamed start-up, which is building an API connection for blockchain gaming rewards, was told…
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US Senators Urge Facebook to Discontinue Crypto Wallet Pilot Citing ‘Insufficient’ Ability to Keep Consumers Safe

October 21, 2021

A group of U.S. senators has asked Facebook CEO Mark Zuckerberg to discontinue his company’s crypto wallet pilot and commit to not bringing the cryptocurrency Diem to market. “Facebook cannot be trusted to manage a payment system or digital currency when its existing ability to manage risks and keep consumers safe has proven wholly insufficient,”…
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Treasury Says Crypto Reduces Efficacy of US Sanctions, Seeks More Funding

October 20, 2021

The U.S. Department of the Treasury says that the growing use of crypto assets challenges the efficacy of American sanctions. “We are mindful of the risk that, if left unchecked, these digital assets and payments systems could harm the efficacy of our sanctions,” the Treasury Department explained. Treasury Says Crypto Threatens Efficacy of U.S. Sanctions…
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