President Joe Biden on Tuesday is scheduled to sign into law the Inflation Reduction Act — the Democrats’ big economic package aimed at addressing climate change, capping drug costs and raising hundre...
Tag: Regulation
Tornado Cash shows that DeFi can’t escape regulation
The U.S. Treasury’s Office of Foreign Assets Control (OFAC) issued sanctions against Tornado Cash this month, marking its first action against a decentralized finance (mixer in what may prove to be a ...
Coin Center prepares legal challenge to Treasury’s Tornado Cash sanctions
Coin Center, a crypto-focused policy think tank, is prepping a challenge to the Treasury’s sanctions on Tornado Cash. In an August 15 blog post, Coin Center analyzed the contradiction of sanctio...
The EU is on the verge of creating a new AML regulator that will oversee crypto
The European Union is poised to create a brand new regulator with direct crypto oversight. While the crypto industry’s attention has been on the Markets in Crypto Assets regulation and the controversi...
Tornado Cash developer arrest sparks fears of global crypto enforcement
The crypto industry has been reeling since the US Treasury blacklisted decentralized crypto mixer Tornado Cash on Monday. Despite Treasury sanctions formally being limited to US persons and entities d...
The World’s Largest Hedge Fund Sold 5 Chinese Stocks. Here’s Why.
Text size Bridgewater Associates no longer owned stock in Alibaba Group Holding as of June 30, according to a regulatory filing. Alibaba’s headquarters in Hangzhou, China, is pictured above. STR...
Binance receives in-principle approval to operate in Kazakhstan
Crypto exchange giant Binance has received an in-principle approval from regulatory bodies in Kazakhstan to operate crypto services. According to a release on Monday, the Astana Financial Services Au...
President of Central Bank of Brazil Disagrees With ‘Heavy Hand’ Regulations for Cryptocurrencies – Regulation Bitcoin News
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 necess...
Crypto Industry Eyes SEC’s ‘Regulation by Enforcement’ Ramp Up
Recent regulator actions are the culmination of efforts to bolster authority in the space made in the past year Defendants in current case against alleged crypto scheme Forsage could challenge SEC’s j...
Inflation Reduction Act would send $80 billion to the IRS. Tax experts say it may not be enough to help the backlogged agency.
For roughly a year, Jonathan Baer watched a paper folder full of tax-related paperwork slowly grow as he chronicled his effort to claim his 2020 tax refund. The attempts included upwards of 40 phone c...
Crypto prime brokerage Floating Point Group secures VASP registration in Cayman Islands
Crypto-focused prime brokerage Floating Point Group has secured registration as a virtual asset service provider (VASP) in the Cayman Islands. “With our current regulatory posture in the Cayman Island...
Hawaii House candidate gets a boost from a pair of crypto super PACs
A crypto-friendly Democrat is on the ballot in Hawaii this weekend, and a pair of super PACs linked to the industry are spending cash to help him get elected. Crypto PACs have spent well over a quarte...
Crypto Trading, Investing Illegal in Iran, Central Bank Governor Reiterates – Regulation Bitcoin News
It is illegal to buy or sell cryptocurrency in Iran, the head of the country’s monetary authority has recently reminded citizens and businesses. The governor noted, however, that mining cryptocurrenci...
Talking with Eva Kaili, VP of the European Parliament, on MiCA regulation
In an article I wrote for Cointelegraph, I commented on how the European Union has moved forward to regulate the crypto-asset market through Markets in Crypto-Assets (MiCA) and Transfer of Funds Regul...
India Freezes Peter Thiel-Backed Vauld’s Crypto and Bank Assets Worth $46 Million – Regulation Bitcoin News
India’s Enforcement Directorate (ED) has frozen crypto exchange Vauld’s crypto and bank assets worth about INR 370 crore ($46,439,181). Vauld halted deposits and withdrawals last month. The Indian law...
Philippines Will Stop Accepting Crypto License Applications for 3 Years, Regulator Says – Regulation Bitcoin News
The central bank of the Philippines, Bangko Sentral ng Pilipinas, has announced that it will stop accepting crypto license applications for three years, starting next month. The central bank is the pr...
UAE Now Requires Agents to Report Real Estate Transactions Where Virtual Currency Is Used as Payment – Regulation Bitcoin News
The United Arab Emirates (UAE) has said it now requires real estate agents, brokers, and law firms to report to the Financial Intelligence Unit real estate transactions in which virtual currency is us...
The Big Winners—and Losers —in the Inflation Bill
Senate Majority Leader Chuck Schumer (D-NY) helped shepherd the Inflation Reduction Act through the Senate after earlier bills died. Drew Angerer/Getty Images Text size The House won’t take up Democra...
Three Chinese corporate giants are leaving the New York Stock Exchange
Three state-owned Chinese corporate giants announced plans Friday to remove their shares from the New York Stock Exchange, adding to a growing financial separation between the biggest global economies...
Popularity of Crypto Investments Makes Case for Regulations, Australian Securities Watchdog Says – Regulation Bitcoin News
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. T...
CFTC proposes new crypto reporting rule for large hedge funds
The US Commodity Futures Trading Commission (CFTC) has voted to propose a joint rule with the Securities and Exchange Commission (SEC) that would require hedge funds to report cryptocurrency exposure....
Uzbekistan Moves to Block Foreign Cryptocurrency Exchanges – Regulation Bitcoin News
Authorities in Uzbekistan are restricting access to online crypto trading platforms based outside the country and not registered under its laws. A presidential decree obliges citizens and local compan...
Crypto markets still have an ‘opacity’ problem says CoinShares CEO
Episode 75 of Season 4 of The Scoop was recorded remotely with The Block’s Frank Chaparro and CoinShares Co-Founder and CEO Jean-Marie Mognetti. Listen below, and subscribe to The Scoop on Apple...
UN Agency wants comprehensive crypto regulation in developing countries
The United Nations Conference on Trade and Development (UNCTD) issued policy briefings and recommendations to discourage crypto adoption in developing countries. The UNCTD released a brief on Aug. 10,...
Australia’s top regulator says crypto became ‘increasingly mainstream’ thus requiring stricter regulation
Surprised by the rising number of crypto investors in Australia, Australian Securities and Investments Commission (ASIC) chairman Joe Longo voiced his concern that many Bitcoin (BTC) and altcoin buyer...
Crypto’s Downturn Makes Space for Education and Regulation
“You have to go through market cycles, especially when you have a new phenomenon,” said Jahon Jamali, chief marketing officer and co-founder of Sarson Funds, a crypto asset manager and education servi...