Tag: regulatory

Is the Ukraine war intensifying regulatory pressure on crypto firms?

[ad_1] Whose side are you on? The Ukraine-Russia war is forcing people to answer that question. For some in the crypto community, this can be uncomfortable because if an individual or project stands with the West against Russia, it also means it abides by sanctions. This can be tough to square with crypto/blockchain’s supposed decentralized system and its claims on being borderless, censorship-free and distributed.  Take OpenSea, the NFT marketplace, which really isn’t a decentralized project but is often described as such. “OpenSea is a decentralized peer-to-peer marketplace for buying,…

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Oman Invites Bids From Firms Interested in Creating Regulatory Framework for Virtual Assets – Regulation Bitcoin News

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[ad_1] Authorities in the Middle Eastern state of Oman have asked specialized companies, interested in helping the country set up a regulatory framework for virtual assets, to submit their proposals. Interested companies need to submit their proposals no later than March 23, 2022. Process Divided Into Two Phases The Oman financial regulator, the Capital Markets Authority (CMA), recently invited companies interested in helping it set up a regulatory framework for virtual assets to participate in a tender process. According to a report by Unlock Media, this process of creating the…

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Powers On… Top 5 crypto legal and regulatory developments of 2021 – Cointelegraph Magazine

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[ad_1] While still leading the securities litigation, hedge fund and SEC defense national practices at my last law firm, BakerHostetler, my practice team members and I would prepare an annual list of key developments and cases in the area each December. It was usually a top 10 list that was then published by Wolters Kluwer in one of its CCH publications and by BakerHostetler as a separate publication to our law firm clients. Now that I am officially “retired” from law firm practice and these days devote most of my…

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eToro to delist Cardano by 2022 for US users due to regulatory concerns

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[ad_1] In a statement released to customers on Tuesday, Israeli cryptocurrency exchange eToro announced it would delist Cardano (ADA) and Tro (TRX) for U.S. customers by the end of the year. After Dec. 31, U.S. users will no longer be able to open new positions in the tokens nor stake ADA and TRX. In addition, wallets will be effectively in withdraw-only mode until the first quarter of 2022, where selling will also become limited. In making the decision, eToro cited regulatory concerns surrounding both assets. The move came as a surprise…

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An Ethereum blockchain upgrade, crypto regulatory battles, and Bitcoin price discussion: Hodler’s Digest, Aug. 1-7

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[ad_1] Coming every Saturday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link. Top Stories This Week   Square to acquire Australian fintech Afterpay in $29B deal Jack Dorsey’s digital payments firm Square entered into a $29 billion stock deal to purchase Australian buy now, pay later (BNPL) firm Afterpay this week.  Just like the name Afterpay implies, Square will essentially…

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Korean Regulator to Shut Down 11 Cryptocurrency Exchanges Ahead of Regulatory Deadline – Regulation Bitcoin News

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[ad_1] South Korea’s top financial regulator will shut down 11 cryptocurrency exchanges allegedly engaged in fraudulent bank account schemes, local media reported. Meanwhile, the deadline for all crypto exchanges to comply with the country’s regulation is drawing near and most of them have not been able to meet the requirements. 11 Crypto Exchanges Could Be Shut Down South Korea’s top financial regulator, the Financial Services Commission (FSC), will reportedly shut down 11 cryptocurrency exchanges, The Korea Herald reported Monday, citing unnamed industry sources. The 11 crypto exchanges allegedly used fraudulent…

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Miami Mayor Confident Crypto Regulatory Issues Will Be Resolved — Says ‘Buy the Dip’ – Regulation Bitcoin News

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[ad_1] The mayor of the U.S. city of Miami, Francis Suarez, explains how he plans to make his city the capital of bitcoin. He believes that issues surrounding cryptocurrency “will work themselves out,” adding that “in the end, there is only one thing to do: buy the dip.” Miami Strives to Become the Capital of Bitcoin Miami Mayor Francis Suarez gave a speech at the Bitcoin 2021 conference in his city on Friday. He highlighted various efforts to make Miami the bitcoin capital. Firstly, he said that Miami was the…

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Uganda’s Financial Intelligence Authority Wants Government to Formulate a Crypto Regulatory Framework – Regulation Bitcoin News

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[ad_1] Uganda’s Financial Intelligence Authority (FIA) says it wants the country’s Finance Ministry to help formulate a regulatory framework for crypto service providers. According to the FIA, this call for the government’s intervention has prompted by the Ugandan crypto industry’s failure to comply with an earlier plea for industry players to register. Terrorism Concerns Furthermore, in a recent report—which quotes Sydney Asubo the FIA executive director—the financial intelligence body explains why it wants the Ugandan government’s involvement in crafting the regulation. The report states: Virtual assets service providers are now…

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Kenyan Regulator Commends Its Regulatory Sandbox— Says the Test Phase Enables It to Have Interactions With Innovators – Emerging Markets Bitcoin News

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[ad_1] According to a new report published by the Capital Markets Authority (CMA) of Kenya, the country’s regulatory sandbox has now received 24 applications, queries, and proposals since March 2019. From this total, only seven firms have been admitted into the sandbox, and “a few more (are now) in the final stages of review.” However, just two out of the seven admitted firms have completed their testing phase and plan to roll out the products soon. Regulator and Innovator Rapport Meanwhile, the CMA concedes that this regulatory sandbox had afforded…

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DeFi needs regulatory clarity to interface with ‘real-world’ finance, experts say

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[ad_1] Rune Christensen, founder and CEO of DeFi bluechip MakerDAO, says the decentralized finance space is set to move from its current isolated bubble phase toward more integration with the broader financial landscape. Christensen made this known during Tuesday’s plenary session “Behind the Decentralized Finance Hype” at the ongoing Global Technology Governance Summit organized by the World Economic Forum. According to the MakerDAO CEO, DeFi protocols interacting with real-world assets, such as commercial real estate and trade financing, will require significant regulatory input, stating: “The huge difference between the primordial…

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