Regulation – Page 16

Bitcoin Is A Legal Tender by Law in Central African Republic

Despite strong volatility and price correction this year in 2022, Bitcoin (BTC) continues to see increasing global adoption. As per the latest reports, the Central African Republic becomes the second country after El Salvador to make Bitcoin (BTC) a legal tender. Binance CEO Changepeng Zhao also tweeted regarding the same. The Central African Republic adopts #bitcoin. — CZ ???? Binance (@cz_binance) April 24, 2022 This means Bitcoin shall now be accepted as a means of payment thereby making the Central...

Dr. Ryan Clements Warns of Systemic Risks of Terra ($LUNA) Ecosystem

On Wednesday (April 20), Dr. Ryan Clements, who is an assistant professor at University of Calgary’s Faculty of Law, explained why he remains wary of decentralized algorithmic stablecoin TerraUSD ($USDT) even though it is now partially collateralized by the “forex reserves” (denominated mostly in Bitcoin) of Luna...

Australian Regulators Reveal Crypto Policy Roadmap

Key Takeaways

The Australian Prudential Regulation Authority (APRA) has put forward a regulatory roadmap for cryptocurrency assets. The roadmap covers rules for working with crypto-assets, operational risk requirements, and stablecoin regulations. Though each set of regulations has its own deadline, the last set of rules is set to come into effect in 2025.

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The Australian Prudential Regulation Authority (APRA) has published a regulatory roadmap for cryptocurrency assets.

Australian Crypto Policy

Australia may be implementing new cryptocurrency regulations over the next few years, according...

Indian FinMin Bashes Crypto Over Money Laundering, Terrorist Risks

Indian Finance Minister Nirmala Sitharaman reiterated her strict approach to crypto at an International Monetary Fund (IMF) meet in Washington D.C. on Monday. The finance minister bashed crypto for its money laundering risks and potential use in financing terrorist groups, and called for a globally coordinated approach to crypto regulation. Sitharaman also touted the benefits of using central bank digital currencies over crypto. Her comments come just weeks after India imposed a steep 30% tax on digital assets- a move intended...

SBF-Backed PAC Spends $9M Funding Congressional Candidates

Key Takeaways

A political action committee backed by notable crypto figures has begun allocating its funds. All of the candidates funded by the PAC so far are running as Democrats. Crypto is an increasingly important topic in American politics, and will likely figure into this year's midterms.

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The political action committee called Protect Our Future has already spent over $9 million to back various candidates running for Congress since its founding last January.

Crypto in Politics

The Sam Bankman-Fried backed political action...

Russian Banks Want to Ban Self-Custody Crypto Wallets

Key Takeaways

According to a local news media report, the Association of Banks of Russia has proposed that lawmakers ban self-custody wallets. The association has also proposed criminalizing refusing to provide wallet private keys to authorized agencies. The suggested regulatory framework aims to mitigate “serious problems” with recovering and seizing crypto from debtors and criminals.

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The Association of Banks of Russia, a non-governmental organization representing the interest of the Russian banking and finance community, has reportedly suggested that lawmakers ban storing...

Iran To Crack Down On Illegal Crypto Mining

All over the globe, the majority of the countries are working on making rules and regulations regarding Cryptocurrencies. In a bid to eliminate illegal crypto mining, Iran is looking forward to regulating more strict laws. The Iranian Government is aiming to proceed with new regulations to increase fine over unlawful crypto mining. While the country allows authorized crypto mining, it had cracked down on illegal mining last year to ease the burdens on its electricity grid. Iran’s new regulation will include...

InvestAnswers Host Predicts Privacy Coins Will Be Crushed by Upcoming Crypto Regulations

The host of popular crypto analysis and market commentary show InvestAnswers claims that privacy-focused altcoins will likely be hammered by the impact of government regulations. Speaking in a recent interview, the host of InvestAnswers explained that he is skeptical about investing in privacy coins, which he believes are...

U.S. State Regulators Aim to Shutter NFT Casino

Key Takeaways

State securities regulators in Alabama and Texas have filed cease-and-desist orders against Sand Vegas Casino Club. Those regulators say that the online casino sold NFTs to fund its operations, constituting an illegal securities offering. While the regulators aim to shut down the business, Sand Vegas Casino Club appears to be operational as of Apr. 14.

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Security regulators in two U.S. states have issued cease-and-desist orders against an online casino offering non-fungible tokens.

Sand Vegas Casino Faces C&D

Alabama’s State Securities Commission...

Ripple CEO Discusses Ongoing SEC Lawsuit

Key Takeaways

Today, Brad Garlinghouse said the SEC would have trouble showing Ripple's sale of XRP constituted violations in securities laws. The Ripple CEO expressed dissatisfaction with what clarity the SEC has provided on crypto regulation. In contrast, Garlinghouse praised the Biden Administration's executive order on cryptocurrency regulation, which he called significant and positive progress.

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Brad Garlinghouse, the chief executive officer of Ripple, discussed his company’s ongoing case with the Securities and Exchange Commission in an interview today. He said...