Category: Regulations

20 Blockchain Surveillance Firms Monitor Crypto Networks, But Some Apps Show Inaccuracies

20 Blockchain Surveillance Firms Monitor Cryptos, But Some Apps Show InaccuraciesDuring the last few years, blockchain surveillance has increased a great deal and in the early days around 2013-14, there were only a handful of firms. Now there are more than 20 blockchain analysis companies that monitor addresses, transactions, and making sure addresses are AML/CFT compliant as well. The Rise of Blockchain Analysis Ventures In […]

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Regulatory Roundup: Crypto Regulations Advance Despite Global Crisis, Cash Shortages, Bank Closures

Regulatory Roundup: Crypto Regulations Advance Despite Global Crisis, Cash Shortages, Bank ClosuresIn this roundup, we cover crypto regulatory developments amid the global crisis effected by the coronavirus outbreak, bank closures, interest rate cuts, and plunging stock markets. Through it all, governments worldwide are still focusing on cryptocurrency regulation, including the U.S., South Korea, India, and Russia. Also read: Bitcoin Legal in India — Exchanges Resume INR […]

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Coronavirus Bailouts: US Banking Watchdogs Waive Hundreds of Regulations, Red Tape, Financial Oversight

In 2019, cryptocurrency and blockchain businesses saw more regulation than any year prior. G20 finance ministers, central bank governors, and regulators cracked down hard on the bitcoin industry. However, during the covid-19 scare, U.S. authorities have been dropping regulations on a whim, making it easier on the financial sector. On March 22, the Federal Reserve […]

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China’s Changing Perception of Bitcoin: Bitkan CEO Shares Insights After 7 Years in Crypto Industry

China's Changing Perception of Bitcoin: Bitkan CEO Shares Insights After 7 Years in Crypto IndustrySince the advent of bitcoin in 2009, cryptocurrencies have gone from being a niche topic for tech nerds to ubiquitously recognized — if not always understood — staples of modern finance. Bitkan CEO Liu Yang recently took some time out to give news.Bitcoin.com a peek into the Chinese bitcoin community and its changing ideas and […]

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Germany’s Bitcoin Group Welcomes Licensing for Crypto Custodians, Expects Competition From Banks

Germany’s Bitcoin Group Welcomes Licensing for Crypto Custodians, Expects Competition From BanksBitcoin Group SE, a prominent member of the European crypto industry, has been preparing to apply for permission to conduct crypto custody activities in its home country, Germany. The providers of such services in the Federal Republic are now recognized as financial institutions. Bitcoin Group, which has been in the business for some time, welcomes […]

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6 Crypto Websites Blocked by Russia’s Media Watchdog, Including Major News Outlet

6 Crypto Websites Blocked by Russia’s Media Watchdog, Including Major News OutletIn what seems to be another episode in a long-running campaign, the Russian telecom regulator has restricted access to at least six websites posting content related to cryptocurrencies. Тhe forum section of Bits.media, a leading crypto news outlet, is among the internet pages that have been blacklisted this month. Also read: Russians Can Use Qiwi, […]

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Bitcoin Is Financial Instrument, Clarifies Germany, Crypto Custodians Qualify as Financial Institutions

Bitcoin Is Financial Instrument, Clarifies Germany, Crypto Custodians Qualify as Financial InstitutionsThe Federal Financial Supervisory Authority of Germany, Bafin, has issued guidance to clarify the status of cryptocurrencies and the regulations that apply to related business activities. The recommendations are based on the country’s current legislation, taking into account the latest changes. Also read: Turkey to Inspect Cryptocurrency Exchanges as Part of Government Offensive Against Online […]

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Turkey to Inspect Cryptocurrency Exchanges as Part of Government Offensive Against Online Gambling

Turkey to Inspect Cryptocurrency Exchanges Within Government Offensive Against Online GamblingTurkish authorities will soon be going after crypto exchanges operating in the country, local media reported. Although the trading platforms are not the prime target of a new push to increase budget receipts, they will be placed under close examination. The news comes as a military escalation with Syria and the coronavirus outbreak in the […]

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China Adopts Security Standards for Blockchain Applications in the Financial Sector

China Adopts Security Standards for Blockchain Applications in the Financial SectorKeeping the focus on blockchain development, banking authorities in China have issued a set of rules pertaining to the secure application of crypto-related technologies in the financial sphere. The new standards, the first of this kind, are to guide the work of developers and service providers operating in the industry. Also read: China Issues Digital […]

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Shopify Joins Libra While Quitter Vodafone Advertises Bitcoin on Facebook

Shopify Joins Libra While Quitter Vodafone Advertises Bitcoin on FacebookFacebook’s coin project, Libra, continues to draw attention despite setbacks, including a shrinking pool of backers and a growing number of worried regulators. But now with JP Morgan seeing potential for the social network’s cryptocurrency and e-commerce giant Shopify joining the Libra Association, its chances might have improved. Although, assuring governments that Libra won’t undermine […]

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Mike Bloomberg’s 2020 Finance Policy Proposes Strict Bitcoin Regulations

US Presidential Candidate Mike Bloomberg's Finance Policy Begs for Strict Bitcoin RegulationsThe 2020 U.S. Presidential candidate Michael Bloomberg addressed the subject of cryptocurrencies and initial coin offerings (ICO) in his recently published Financial Reform Policy. Bloomberg wants more “regulatory oversight” when it comes to this promising technology, claiming he sees “plenty of hype, fraud and criminal activity.” Also read: Bitcoin, Tesla Stock, Tron: How Warren Buffett […]

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Treasury Secretary Mnuchin Gives Testimony on Cryptocurrency, New Regulations Rolling Out Soon

Treasury Secretary Mnuchin Gives Testimony on Cryptocurrency, New Regulations Rolling Out SoonU.S. Treasury Secretary Steven Mnuchin gave his testimony on cryptocurrency before the Senate Finance Committee on Wednesday. Mnuchin said crypto is a “crucial area” that the Treasury has spent a lot of time on. He also talked about stablecoins and announced that new crypto regulations focusing on transparency will be rolled out soon. Also read: […]

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Brussels Asks Europeans How to Regulate Bitcoin, Public Consultation Continues Into March

Brussels Asks Europeans How to Regulate Bitcoin, Public Consultation Continues Into MarchThe European Commission is gathering feedback from EU citizens, businesses, regulators and other interested parties to establish a regulatory framework for crypto assets and markets on a European level. The public consultation which started in December will continue until March 19, 2020, with the finalized proposal expected in the third quarter. Also read: Swiss Financial […]

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Swiss Financial Watchdog Proposes $1,000 Client Identification Threshold for Crypto Transactions

Swiss Financial Watchdog Proposes $1,000 Client Identification Threshold for Crypto TransactionsFamous for its favorable business climate that has attracted hundreds of crypto companies, Switzerland is now expanding its financial regulatory framework. Some of the upcoming rules will increase oversight in the blockchain industry in compliance with new international standards regarding operations with digital assets. Also read: With New Regulations, Europe’s Crypto Companies May Be Running […]

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UK Crypto Startups to Pay Discounted £2,000 Fee for Registration, FCA Revises Application Charges

UK Crypto Startups to Pay Discounted £2,000 Fee for Registration, FCA Revises Application ChargesYoung and small cryptocurrency businesses will pay lower registration fees than big companies, the United Kingdom’s financial watchdog has decided after consultations with members of the industry. The revised fee scheme takes into account the firms’ income to determine the amount they’ll be charged to cover supervision costs. Also read: Singapore Introduces Licensing for Crypto […]

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US Presidential Candidate Andrew Yang Says Regulations Cannot Impede Crypto, Affirms Priorities

US Presidential Candidate Andrew Yang Says Regulations Cannot Impede Crypto, Affirms PrioritiesAndrew Yang, who is running for U.S. president in the 2020 election, has explained what his priorities will be regarding cryptocurrency under his administration. He said that crypto investors are finding a way to make use of their investments and regulations cannot impede it. Yang advocates for a uniform, nationwide set of crypto regulations so […]

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Another Crypto Exchange Discourages the Use of Bitcoin Mixing Services

The cryptocurrency exchange Binance was recently scrutinized for flagging a customer’s funds because the individual had used a bitcoin mixing application. Now the platform Paxos Global is discouraging the use of crypto mixers after a customer allegedly sent coins to a mixing service. Also read: Regulatory Roundup: EU-Wide Crypto Regulations, New Rules in Europe, US, […]

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Singapore Introduces Licensing for Crypto Platforms, New Payment Services Now Act in Force

Singapore Introduces Licensing for Crypto Platforms, New Payment Services Act Now in ForceThe Monetary Authority of Singapore (MAS) has announced the commencement of the city-state’s new Payment Services Act. The law mandates the implementation of a licensing regime that applies to payment providers, exchanges and other platforms dealing with cryptocurrencies. Their operators are obliged to meet anti-money laundering and counter-terrorism financing regulations. Also read: Uzbekistan Prepares Crypto […]

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Ukraine to Oversee Crypto Transactions Above $1,200, Sees Opportunities in Legalization Not Risks

Ukraine to Oversee Crypto Transactions Above $1,200, Sees Opportunities in Legalization Not RisksCryptocurrency transactions in Ukraine will be strictly monitored by the state, although the country’s finance minister admits that it’s not digital coins but fiat cash that criminals and corrupt officials are more likely to use. The legalization of cryptocurrencies remains a priority in Kiev as the government has indicated its clear understanding that the benefits […]

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Uzbekistan Prepares Crypto Tax Exemptions, Launches Licensed Exchange

Uzbekistan Prepares Crypto Tax Exemptions, Launches Licensed ExchangeA new presidential decree in Uzbekistan envisages the introduction of tax exemptions for income obtained from operations involving crypto assets. The draft document published recently also incorporates proposals for the establishment of a blockchain valley and licensing regime for cryptocurrency miners. The country has just launched its first licensed crypto exchange. Also read: Uzbekistan to […]

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New Guidelines Subject Canadian Crypto Exchanges to Securities Laws

New Regulatory Guidance Subjects Crypto Exchanges in Canada to Securities LawsCanadian regulators have issued new guidance determining when current securities legislation applies to operations conducted by cryptocurrency exchanges. According to the clarifications in the document, many domestic and foreign entities serving Canadian users, for example those that provide custodial services, will have to abide by the country’s securities laws and act like securities dealers. Also […]

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