December 01, 2:30 am
|US Treasury's Yellen Says Crypto Doesn't Have Adequate Regulation &mdash...|
U.S. Treasury Secretary Janet Yellen says that the collapse of crypto exchange FTX shows that the crypto industry 'really needs to have adequate regulation.' She added: 'It's a Lehman moment within crypto, and crypto is big enough that we've had substantial harm with investors.'Treasury Secretary Janet Yellen on FTX Implosion and the Need for Adequate Crypto Regulation
U.S. Treasury Secretary Janet Yellen talked about the need for adequate crypto regulation following the collapse of crypto exchange FTX at an event hosted by the New York Times Dealbook Wednesday. She said:
I have been skeptical, and I remain quite skeptical.
While emphasizing the importance of ensuring that crypto assets have adequate customer protections, the treasury secretary noted that it is also important to remain open to financial innovations, particularly those that could lower cross-border transaction costs and help improve financial inclusion.
Yellen proceeded to comment about the meltdown of FTX, which filed for bankruptcy on Nov. 11. The crypto exchange owes its 50 biggest creditors more than $3 billion, and an estimated one million customers and other investors are facing total losses in the billions of dollars due to its collapse. She opined:
I think everything we've lived through over the last coupl...
November 29, 1:00 am
|JPMorgan Expects Major Changes Coming to Crypto Industry and Regulation ...|
JPMorgan has outlined key changes it expects in the crypto industry and its regulation following the collapse of crypto exchange FTX. The global investment bank envisages several new regulatory initiatives, including those focusing on custody, customer asset protection, and transparency.JPMorgan Expects Major Changes in Crypto Industry Post FTX Mel...
November 28, 1:00 am
|Billionaire Bill Ackman Discusses Crypto Regulation — Says Industr...|
Billionaire Bill Ackman has warned that the crypto industry needs to self-police or it risks being shut down. He added that regulators need more resources to police the bad actors in the crypto space and will likely take years to catch up.Bill Ackman on Crypto Regulation and the Need for Industry to Self-Police
Billionaire Bill Ackman shared his th...
November 24, 9:00 am
|IMF Blog: Better Regulation of Africa's Growing Crypto Market Urgently N...|
A well-regulated African cryptocurrency market is needed in order to protect users as well as help countries stop bad actors from using digital assets to circumvent capital controls, the latest post on the IMF blog has said. The blog post reiterated the IMF's belief that risks to a country are 'much greater if crypto is adopted as legal tender.'
November 21, 6:30 am
|New Council at Ukraine's Securities Watchdog to Draft Crypto Taxation Re...|
A special council under Ukraine’s securities regulator will be tasked to develop rules for crypto taxation in the country. The new body will be also responsible for coordinating the regulation of various crypto activities and adjustments to the applicable legislation. Advisory Board to Take On Matters Related to Cryptocurrency Taxation in Ukr...
November 12, 1:30 am
|SEC Chair Gensler Discusses Crypto Regulation Following FTX Collapse &md...|
The chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, has outlined two paths the agency is taking to regulate the crypto industry. Meanwhile, a U.S. congressman is investigating whether Gensler helped FTX CEO Sam Bankman-Fried and his bankrupt crypto exchange on legal loopholes to obtain a regulatory monopoly.SEC Chair Ge...
November 10, 11:10 pm
|Indonesia Plans to Tighten Crypto Regulation Following FTX's Insolvency&...|
Indonesia plans to give its Financial Services Authority (OJK) the power to regulate cryptocurrency investments and market oversight.
The country's Trade Ministry currently polices the digital asset industry in collaboration with the Commodity Futures Trading Regulatory Agency. However, Indonesia's finance minister, Sri Mulyani Indrawati, sa...
November 05, 8:15 pm
|Crypto's Rapid Growth Pushed Canada to Speed up Regulations|
The Canadian government will begin consultations on cryptocurrencies, stablecoins, and CBDCs.
The ruling body maintained that such assets should function under strict supervision since they could facilitate illicit operations and pose 'a challenge to democratic institutions.'
Crypto is Among the Budget's Priorities
As disclosed in its mini-budget 2...
October 28, 11:30 am
|Majority of Voters Want More Crypto Regulation — See Digital Asset...|
A new survey shows that a majority of likely voters want more crypto regulation. 'Our national survey shows voters believe in the promise of digital assets and see it as a long-term part of the economy and their financial future,' said the Crypto Council for Innovation.Voters Want More Cryptocurrency Regulation
The Crypto Council for Innovation, a ...
October 20, 8:31 pm
|FTX CEO Sam Bankman-Fried Shares His Position on Crypto Regulations|
FTX CEO Sam Bankman-Fried (SBF) posted a draft of a set of standards to create clarity and protect customers as the US awaits full federal regulatory regimes.
While highlighting the significance of regulatory oversight and customer protection, SBF said there needs to be an open economy where peer-to-peer transfers, code, validators, etc., are presu...
October 19, 6:17 am
|US Congressman Confirms No Stablecoin Regulations Anytime Soon|
It appears that U.S. lawmakers have bigger fish to fry as stablecoin and crypto regulations remain on the back burner. During a financial conference on Oct. 18, representative Jim Himes said that the bill will not happen this Congress due to upcoming elections.
'It's probably not happening in early 2023,' Himes said as frustrations mount in the U.S...
October 19, 4:00 am
|EU Commissioner Urges US to Create New Crypto Rules — Says 'We Nee...|
The European Commission's commissioner for financial services has reportedly urged U.S. lawmakers to establish new rules to regulate the crypto industry. 'We do need to see other players also legislating … We need to look at global regulation of crypto,' said the commissioner.EU Commissioner Calls on U.S. Lawmakers to Establish New Crypto Ru...
October 15, 11:30 pm
|US Lawmaker Calls on SEC to Issue Crypto Regulations — Says 'a For...|
A U.S. senator has called on the Securities and Exchange Commission (SEC) to issue crypto regulations now 'through a transparent notice-and-comment regulatory process.' He stressed that 'some digital assets are securities, others may be commodities, and others may subject to a completely different regulatory regime.'
US Senator Calls for 'Transpare...
October 13, 11:03 pm
|Kazakhstan Wants More Regulations for Crypto Miners With New Bill (Repor...|
The lower house of Kazakhstan's parliament - Mazhilis - reportedly greenlighted new bills that aim to establish appropriate rules in the local crypto sector.
They will require miners to create authorized entities, register with the regulators, and continue being subject to taxation.
Solving the Problem With 'Gray Miners'
Despite being a global lead...
October 07, 5:00 am
|Gofaizen & Sherle to Help Businesses Scale the New Lithuanian Cryptocurr...|
PRESS RELEASE. In light of the strengthened supervision of the cryptocurrency sector by Lithuania, Gofaizen & Sherle, an international legal and management consulting firm based in Europe, has taken the initiative to assist businesses in navigating these new regulations. According to Lithuanian regulators, these new laws will go into effect in Nove...
October 06, 4:42 am
|From National Threat to Opportunity, How Regulation is Changing With Cry...|
Amid one of the worst crypto winters, polls and research indicate that crypto enthusiasm is still high.
Public opinion about cryptocurrencies like Bitcoin continues to trend positively. Polls from The Ascent, made in May 2022, suggest crypto could become a significant political force moving forward.
Analysis from a StarkWave survey in March 2022 fo...
October 02, 12:30 pm
|UK Regulator: Crypto Firms Undeterred by Strict Regulation — 'They...|
The Financial Conduct Authority (FCA), Britain's top financial regulator, has revealed that many crypto firms are still seeking licenses to operate in the U.K. despite failing to meet regulatory requirements the first time. 'They know we have a good system of regulation and if they meet our standards that's important for every jurisdiction that the...
September 29, 3:30 am
|French Central Banker Warns Complex Crypto Regulations Could Create 'Une...|
The governor of France's central bank, François Villeroy de Galhau, has urged EU regulators to 'avoid adopting diverging or contradictory regulations, or regulating too late.' He warned that 'To do so would be to create an uneven playing field, risking arbitrage and cherry picking.'French Central Bank Governor Warns About Adopting 'Unduly Comp...
September 28, 11:02 pm
|Crypto Regulation Remains an Urgent Policy, Despite Bear Market: ECB's V...|
Francois Villeroy de Galhau - a member of the European Central Bank and Governor of Banque de France - thinks the diminishing interest in cryptocurrencies due to the market crash does not mean authorities should abandon plans to regulate the industry.
Last year, he argued that imposing rules on the digital asset sector is essential for Europe as ot...
September 28, 2:30 am
|Fed Chair Powell Sees 'Real Need' for More Appropriate Defi Regulation C...|
Federal Reserve Chairman Jerome Powell says decentralized finance (defi) has 'very significant structural issues,' emphasizing a 'real need' for more appropriate regulation of the defi ecosystem.Fed Chair Jerome Powell on Defi Regulation
Federal Reserve Chairman Jerome Powell talked about the regulation of decentralized finance (defi) Tuesday durin...
September 23, 3:30 am
|Indonesia to Tighten Crypto Regulation With Stricter Rules for Exchanges|
Indonesia is preparing to issue new rules to tighten the regulation of crypto exchanges. Under revised regulatory framework, two-thirds of crypto exchange directors must be Indonesian citizens residing in the country.Indonesia Plans to Tighten Crypto Regulation
Indonesia is preparing to issue new rules to tighten the regulation of crypto exchanges,...
September 17, 3:30 am
|US Senator Wants Congress to Step in With Crypto Guidance — Urges ...|
U.S. Senator Pat Toomey says Congress should step in and provide a regulatory framework for cryptocurrency. He stressed that the U.S. Securities and Exchange Commission (SEC) is not sharing its framework for regulating crypto with lawmakers, noting that Chairman Gary Gensler 'owes us much more clarity on how and why he intends to apply SEC regulati...
September 17, 1:00 am
|US Treasury Clarifies How to Comply With Regulations on Sanctioned Crypt...|
The U.S. Department of the Treasury has answered some questions on regulatory compliance relating to Tornado Cash, a recently sanctioned crypto mixer. The answers include how to withdraw crypto or complete transactions initiated using Tornado Cash prior to its sanction and how to deal with 'dusting' transactions.Treasury Department Publishes Tornad...
September 16, 6:27 pm
|Biden Administration Pitches for Regulation and Strict Oversight of Cryp...|
In a series of reports, the Joe Biden administration on Friday has offered its response to the President's executive order on cryptocurrencies - Ensuring Responsible Development of Digital Assets - issued earlier this year, media reports said.
Here is all that you need to know about the Biden administration's Friday reports:
The Joe Biden ad...
September 16, 1:30 pm
|European Union to Launch Global Metaverse Regulation Initiative in 2023|
The European Union (EU) will present an initiative to address the metaverse and all the activities and interactions happening in it sometime in 2023. The proposal, which was qualified as 'key' in the State of the Union letter of intent authored by Ursula von der Leyen, President of the European Commission, will present several initiatives to clarif...
September 14, 7:30 am
|Abu Dhabi Global Market Financial Regulator Unveils Virtual Asset Regula...|
Abu Dhabi Global Market's financial regulator, the Financial Services Regulatory Authority (FSRA), recently unveiled six principles that will guide its 'approach to virtual asset regulation and supervision.' Though not legally binding, the principles, according to the FSRA, must be 'viewed as a complement to the comprehensive detail of our publishe...
September 05, 4:05 pm
|UK's New Prime Minister Advocated for Pro-Crypto Regulations|
The United Kingdom finally has a new Prime Minister of the United Kingdom in the face of Liz Truss, who spoke positively about the cryptocurrency industry several years ago.
To become the UK's next PM, Truss was chosen over Rishi Sunak (Chancellor of the Exchequer from 2020 to 2022), who also favors digital assets. Earlier this year, he opined that...
September 04, 8:45 pm
|Thai SEC Toughens Crypto Ad Regulations Amid Broader Market Downturn|
The Securities and Exchange Commission of Thailand (SEC Thailand) has asked cryptocurrency companies operating in the country to include clear and visible warnings about the risks associated with virtual tokens and crypto investments.
SEC Guideline on Crypto Ads
In an email statement from last week, the capital market regulator asked companies to a...
September 02, 10:00 am
|Crypto Ads in Thailand Must Feature Clear Investment Warnings, New Regul...|
Thailand has introduced tighter rules that will oblige crypto companies to duly inform potential customers of the investment risks on their advertisements. The new regulations also prohibit businesses in the industry from making misleading or exaggerated claims. Securities Watchdog Adopts Stricter Advertising Rules for Crypto Platforms in Thailand
September 01, 2:00 pm
|Georgia to Update Crypto Regulations to Incorporate EU Rules, Legalize I...|
The government of Georgia has approved amendments to the legal framework for the Caucasian nation's financial sector, including additional regulations for crypto and fintech activities. The move aims to align Georgian law with relevant EU provisions. Parliament of Georgia to Vote on Crypto Legislation in Coming Months
A legislative package expandin...
September 01, 3:30 am
|Iranian Government Approves 'Comprehensive and Detailed' Crypto Regulati...|
The government of Iran has finalized a set of cryptocurrency regulations. A 'comprehensive and detailed' law ratified by the administration provides a regulatory framework for cryptocurrency, including their authorized usage and crypto mining, a government official reportedly said.Iran Finalizes Crypto Regulations
The Iranian government has evaluat...
August 29, 7:12 am
|Singapore's MAS Considers Tougher Crypto Regulations|
The top financial watchdog of the Asian city-state - the Monetary Authority of Singapore (MAS) - reportedly intends to implement additional regulatory steps in the cryptocurrency industry to create maximum protection for investors.
The agency might launch consumer suitability tests and cut the use of leverage and credit facilities by retail investo...
August 27, 6:30 am
|Singapore Seeks Detailed Information From Crypto Firms Ahead of New Regu...|
Financial authorities in Singapore are taking steps toward increased oversight in the crypto space with the city-state's central bank reportedly asking companies to provide additional information about their activities and assets. Ahead of a possible broadening of the applicable rules, the authority is trying to get a clearer idea of their financia...
August 26, 1:30 am
|Philippine Lawmakers, Central Bank, SEC Discuss Crypto Regulation in Sen...|
The central bank and the Securities and Exchange Commission (SEC) of the Philippines discussed crypto regulation in a Senate hearing with the participation of several executives from the crypto industry, including from crypto exchange Binance. Philippine Regulators Discuss Crypto Policies
Philippine regulators recently discussed cryptocurrency regu...
August 25, 11:30 am
|Sanctions, Disagreements Hamper Regulation of Crypto Mining in Russia, E...|
The changing geopolitical and economic environment, as well as persisting differences between responsible government institutions, are hindering the advance of legislation tailored to regulate cryptocurrency mining in Russia. According to a report quoting industry watchers, these factors are halting the advance of the necessary legislation.Two Draf...
August 23, 6:30 am
|Iranian Association Calls for Stable Crypto Regulation as Government Pla...|
Iran's association of importers has stressed the need for a stable regulatory framework for cryptocurrencies now that the Iranian government is officially using crypto to pay for imports. 'By the end of September, the use of cryptocurrencies and smart contracts will be widespread in foreign trade with target countries,' a government official said.I...
August 22, 10:46 am
|Australia to Enforce Crypto Regulations This Year (Report)|
The government of Australia reportedly plans to identify which cryptocurrencies are widely used in the country and place them under a regulatory framework by the end of 2022.
Numerous Australian politicians have hinted about a possible crypto regulatory plan over the past few years. Earlier in2022, the Labor Party won the elections, while its leade...
August 15, 2:00 pm
|President of Central Bank of Brazil Disagrees With 'Heavy Hand' Regulati...|
The president of the Central Bank of Brazil, Roberto Campos Neto, has defended the use of more moderate regulations in the crypto environment. Campos Neto stated that while regulation is indeed necessary, it has to be done in a way that doesn't stop innovation. He also explained his goal is to connect the digital with the regulated world.
August 12, 11:30 am
|Popularity of Crypto Investments Makes Case for Regulations, Australian ...|
High rates of crypto ownership, with purchases often made on advice from Youtube and Facebook, make 'a strong case for regulation,' according to the Australian Securities and Investments Commission. The watchdog backs its stance with poll results showing nearly half of retail investors in Australia keep one coin or another.Australian Securities Reg...
July 14, 2:00 pm
|ECB Calls for Urgent Regulation of Stablecoins and Defi, Won't Rul...|
A new report by the European Central Bank (ECB), presented as a 'deep dive into crypto financial risks,' calls for 'appropriate' regulation and oversight of stablecoins and decentralized finance (defi). It also addresses the hot topic of Bitcoin's carbon footprint in Europe, suggesting a ban on proof-of-work mining is probable. Growth of Stablecoin...
July 13, 6:56 am
|ECB Recommends Mining Ban and Urgent Stablecoin Regulations|
It comes as no surprise that the central bank wants to curtail crypto as much as it possibly can, advising EU lawmakers with a recent research paper.
On July 12, crypto venture advisor at Presight Capital, Patrick Hansen, broke down the report, which focused primarily on what the ECB considers financial risks.
It acknowledged that the digital asset...
July 12, 1:30 am
|G20 Watchdog Announces 'Robust' Global Crypto Regulation Com...|
The Financial Stability Board (FSB) says it is working on a 'robust' regulatory framework for crypto assets and will report its recommendations to the G20 finance ministers and central bank governors in October.FSB to Present Robust Crypto Regulatory Framework to G20 in October
The Financial Stability Board (FSB), an international body that monitor...
July 11, 12:12 pm
|The Crypto Market Crash Prompts the FSB to Propose Global Regulations (R...|
The Financial Stability Board (FSB) - an organization created by the G20 countries that supervises the international monetary system - will reportedly propose a regulatory framework focused on digital assets. The draft bill comes as a result of the recent turmoil in the market and will have a global character.
'Robust' Rules to Limit the Risks for ...
July 10, 3:30 am
|Fed's Brainard Calls for Sound Regulation of Crypto Financial Syst...|
Federal Reserve Vice Chair Lael Brainard has stressed the importance of establishing sound regulation for the crypto financial system 'now before the crypto ecosystem becomes so large or interconnected that it might pose risks to the stability of the broader financial system.'Fed Vice Chair Brainard on Crypto Regulation
Lael Brainard, the vice chai...
July 06, 1:30 pm
|Ripple CEO criticizes SEC for 'contradictions' on crypto reg...|
“The SEC [decided] to do regulation through enforcement, which is not efficient and really I think has stifled innovation in the United States,' said Brad Garlinghouse.
Brad Garlinghouse, the chief executive officer of Ripple Labs, has claimed the United States Securities and Exchange Commission, or SEC, has inconsistently imposed regulations...
June 27, 9:30 pm
|Report: Morocco's Central Bank to Unveil Crypto Regulation Bill So...|
The Moroccan central bank is presently working on a cryptocurrency regulation framework bill and according to the bank's governor, Abdellatif Jouahri, this is set to be introduced soon. The regulatory framework being worked on will result in Morocco's money laundering and anti-terrorism financing regulations being upgraded.Crypto Regulation Best Pr...
June 26, 1:30 am
|British MP Calls for 'Liberal' Crypto Regulation — Say...|
British Parliament Member Matt Hancock has called for 'liberal' cryptocurrency regulation, noting that no country can stop the crypto revolution. 'I hate the patronizing idea of regulators telling people what they can and can't do with their money,' the lawmaker stressed.British MP Wants 'Liberal' Crypto Regulation
Matt Hancock, a Conservative memb...
June 15, 9:30 am
|South Korean Government Calls for Voluntary Regulations From Crypto Indu...|
The executive power and the ruling party in South Korea have urged the cryptocurrency industry for what officials describe as voluntary regulatory measures, a Korean media report revealed. The call was issued during a consultative meeting devoted to crypto assets.Government Asks South Korean Crypto Sector for Regulatory Proposals
June 15, 3:30 am
|Bank of Canada's Official: Crypto Needs Regulation Before It Becom...|
Bank of Canada's senior deputy governor says the central bank does not want to wait until crypto 'gets a lot larger' before it brings regulatory controls in place. 'This is an area that is still small, but it's growing really rapidly,' the official said.Bank of Canada's Official Stresses the Importance of Crypto Regulation
Bank of Canada Senior Dep...
June 12, 7:30 pm
|EU Nears Agreement on Crypto Regulations, Report Reveals|
Authorities in the EU are moving closer to a deal on a legislative package tailored to comprehensively regulate the crypto market and related activities in Europe. According a media report, an agreement on the key legislation is likely to be reached as early as this month.Deal on EU Crypto Law Expected by End of June, Sources Say