Regulation — Page 117

Facebook’s cryptocurrency project ‘Libra’ has created quite a stir in the regulatory bodies across the globe.

Georgia becomes the latest nation to exempt cryptocurrencies from value-added taxes (VAT), a move that supports Bitcoin’s status as a currency, according to Bitcoin.com.

Jon Montroll, the CEO of Bitfunder pleaded guilty to charges including securities fraud and obstruction of justice. As a result, he will be spending 14 months behind bars in a recent ruling by Judge Richard M. Berman …

With blockchain being a relatively new technology, many of its aspects are still confusing even to government leaders. This is why the US Chamber of Digital Commerce is holding an education day where members of the Ho…

A state in Brazil is making use of Blockchain in order to facilitate government contract bids in a more transparent and open manner. This will do so by tracking the details of the bid, which will then allow regulators…

At this point, it has been well-established that Japan and many other countries view Facebook Libra with extreme mistrust. This is why, ahead of the G7 summit, Japan will be placing the crypto offer under a microscope…

More and more retailers are now accepting payments via bitcoin, and Australia just added another one on the list with the Independent Grocers of Australia (IGA) joining in. Composed of several supermarkets in the coun…

A new report just came out to claim that countries like Russia and Iran are now looking to blockchain to figure out ways in which they can circumvent the sanctions imposed by the US. This could have huge implications …

Even though blockchain is roughly considered a decentralized ledger technology, the US Senate wants a clearer definition of the network as far as its uses are concerned. To that end, it recently approved of the Blockc…

A new license that was granted to the crypto firm Prasos by the EU now gives the broker to additional leeway in 28 countries. Called the Payment Institution License (PIL), it is a symbol of how much trust is now being…

Bitcoin and cryptocurrency, in general, have been compared to a lot of things and gold is now one of them. This is courtesy of Jerome Powell, the chairman of the US Federal Reserve when he said that the crypto coin is…

A candidate running for Congress is trying to give his campaign workers incentives via Ethereum tokens. Recently, the Federal Election Commission (FEC) published a draft advisory opinion expressing the intent to appro…

Following China’s lead, Turkey is now considering the idea of putting cryptocurrency under the direct supervision of its central bank. This news comes in conjunction with the Eleventh Development Plan that was submitt…

Winklevoss-backed Virtual Commodity Association is seeking to become a self-regulatory organization (SRO) for the cryptocurrency industry, in a bid to run similarly like the Financial Industry Regulatory Authority (FI…

The government of Canada has updated its Anti-Money Laundering (AML) and Counter Financing of Terrorism (CFT) rules, CoinDesk reported.

The United States Securities and Exchange Commission (SEC) has reportedly given blockchain startup Blockstack a go signal to conduct a $28 million digital token offering under Regulation A+, according to the Wall Stre…

The United States’ Internal Revenue Services (IRS) is reportedly considering to require tech giants to report their users’ crypto-related activities, according to an IRS presentation shared by a Twitter user.

With Japan being one of the biggest economies in the world and having a substantial gadget-centric population along with crypto-friendly regulations, it’s the perfect ecosystem for cryptocurrency. This is why over 110…

The United States Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA) have released a joint statement clarifying the broker-dealer custody of digital asset securities.

Facebook’s cryptocurrency Libra has met another pushback, now from the Indian government, as officials of Asia’s third-largest economy are not keen on the social media giant’s upcoming project.

European Central Bank Executive Board member Benoit Coeure is urging financial regulators to act fast to prepare for the upcoming Libra cryptocurrency of Facebook, according to Bloomberg.

Ever since it was revealed, Facebook Libra has been having a reverberating effect all over the world that saw regulators sweating at the very concept. It is basically seen as a gigantic threat to the sovereign currenc…

The U.S. Internal Revenue Service (IRS) will be updating its current 2014 guidance on bitcoin tax in the coming weeks, the Wall Street Journal reported.

Ponzi schemes are nothing new in the crypto world and recently, four people in India have been arrested for allegedly perpetrating the act. The suspects that were apprehended were Vijay Prajapati, Dhiraj Patel, Kamrud…

Although the US is better at engaging in blockchain technology than most countries, the regulations that will allow companies going into this space to thrive have yet to be fully formed. This might soon change with th…

Unlike countries that have declared their support for or against cryptocurrencies, the Philippines remains unwilling to fully commit to either side. Bangko Sentral ng Pilipinas (BPS) Governor Benjamin Diokno recently …

With regards to the implementation of blockchain technology, Cyprus has been showing enormous interest in pursuing the nascent sector to its fullest degree. Finance Minister Harris Georgiades has been particularly ent…

Becoming only the second U.S. state to do so, Utah has decided to create a regulatory sandbox with focus on fintech and blockchain sectors. The only other state to do this is Arizona and in both cases, the intent is t…

Malaysia’s Securities Commission (SC) has issued an advisory warning to the public cautioning them against any new initial coin offering (ICO) or digital assets exchange (DAX). Pending the release of the new guideline…

Venezuelan President Nicolas Maduro has ordered Banco de Venezuela, the nation’s biggest bank, to open desk for Petro (PTC), the famous oil-backed cryptocurrency in the country, according to a tweet posted by its loca…

The UK Financial Conduct Authority (FCA) recently proposed a ban on the sale of crypto-derivatives in a bid to protect investors from sudden losses resulting from extreme volatility in the prices of cryptoassets.

Russia is not planning on creating any special regulations separate from the ones that it is now thinking of introducing to cover the crypto industry, as a whole. As things stand, it will still not be possible to purc…

U.S. policymakers are calling on Facebook to pause the development of its Libra cryptocurrency project in a new open letter addressed to the social media giant’s executives.

Social networking site Facebook is reportedly eyeing to obtain a cryptocurrency business license to use its recently unveiled cryptocurrency Libra in New York, according to Reuters.

The governments of the Group of Twenty (G20) countries have officially lent support for the guidelines on cryptocurrency regulations detailed by the Financial Action Task Force (FATF).

Following the conclusion of the V20 summit, a group of national trade associations representing the local Virtual Asset Service Providers (VASPs) is planning to create an organization that will provide a “global unifi…

Iranian authorities have seized around 1,000 bitcoin mining machines from two abandoned factories, following a spike in electricity consumption, according to RadioFreeEurope.

The alarm caused by Facebook upon the announcement of Libra has been widely reported and it has caught the attention of the Federal Cartel Office of Germany. The mistrust that regulators have with the biggest social m…

The Monetary Authority of Singapore (MAS), the country’s central bank, has reportedly held talks with Facebook about its newly unveiled cryptocurrency project, Libra, according to Bloomberg.

In a recent announcement, the U.S. Securities and Exchange Commission (SEC) is finally scheduling a public discussion of a possible exchange-traded fund (ETF) using bitcoin. This has been something that many traders a…