Japan Has Crypto Regulation Handbook Ready for Members at Next G20 Summit
Apr24

Japan Has Crypto Regulation Handbook Ready for Members at Next G20 Summit

Japanese officials have reportedly prepared a handbook offering guidance on cryptocurrency regulation, and plan to share that advice with central bankers and finance ministers attending the next G20 summit, according to a report from Finance Magnates and local media outlet Sankeibiz. That summit will be held in Osaka, Japan at the end of June.

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Report: Japan’s FSA Raided Two Crypto Exchanges Last Week
Apr23

Report: Japan’s FSA Raided Two Crypto Exchanges Last Week

The Japanese Financial Services Agency (FSA) reportedly raided two of the nation’s cryptocurrency exchanges last week, according to two sources cited in a Reuters report published on Tuesday. The regulatory body apparently executed the surprise inspections to investigate issues related to anti-money laundering and customer safeguards.

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Chile’s Finance Minister Announces Crypto Regulation Bill
Apr21

Chile’s Finance Minister Announces Crypto Regulation Bill

Chilean Minister of Finance Felipe Larraín announced this week that the government has sent Chile’s Congress a legislative bill that will provide regulation for fintech and cryptocurrencies. Larraín made the announcement during a visit in the United States, and emphasized the government’s cautious and flexible approach to regulating the space:

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FinCEN Announces Penalties for Crypto Trader Accused of Violating AML Rules
Apr20

FinCEN Announces Penalties for Crypto Trader Accused of Violating AML Rules

The Financial Crimes Enforcement Network (FinCEN) announced this week that it has penalized an individual cryptocurrency trader for alleged violations of the Bank Secrecy Act (BSA). That trader, California resident Eric Powers, reportedly failed to properly register as a money services business, take the necessary steps needed to comply with the Act’s provisions, or properly report suspicious transactions.

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French Finance Minister Highlights Blockchain’s Promise at Paris Blockchain Week
Apr15

French Finance Minister Highlights Blockchain’s Promise at Paris Blockchain Week

France’s Finance Minister, Bruno Le Maire, called blockchain technology a “game changer” at the Paris Blockchain Week conference, Phys.org reported today. During his remarks, Le Maire noted the technology’s benefit as a tool to prevent banking institutions from monopolizing financial transactions:

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Lawmakers Pen Letter Urging IRS to Clarify Crypto Guidance
Apr13

Lawmakers Pen Letter Urging IRS to Clarify Crypto Guidance

A bipartisan group of U.S. lawmakers have drafted a letter to IRS Commissioner Charles P. Rettig, urging his agency to issue more detailed tax and reporting guidance for taxpayers who use digital currencies. The letter’s 21 co-signers included the co-chairs of the Congressional Blockchain Caucus.

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CEI Paper Criticizes SEC Overreach on Crypto
Apr12

CEI Paper Criticizes SEC Overreach on Crypto

A new paper from Competitive Enterprise Institute senior fellow John Berlau contends that the Securities and Exchange Commission (SEC) has engaged in regulatory overreach with its approach to cryptocurrency innovation.

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China Proposes Rules that Would Ban Crypto Mining
Apr09

China Proposes Rules that Would Ban Crypto Mining

Chinese officials have formally proposed sweeping new rules that would end cryptocurrency mining in the country, the South China Morning Post reported on Tuesday. The proposal is part of a series of amendments to the National Development and Reform Commission’s guidance for adjusting the country’s industrial structure.

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South Korean Lawmakers Call for Easing Blockchain and Crypto Regulation
Apr08

South Korean Lawmakers Call for Easing Blockchain and Crypto Regulation

Despite the South Korean government’s stated commitment to deregulation, a bipartisan group of lawmakers are calling for that deregulatory agenda to be expanded to the cryptocurrency and blockchain space as well, the Korea Herald reported on April 7.

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Report: G20 Members to Push Crypto AML/CTF Regs in June Meeting
Apr07

Report: G20 Members to Push Crypto AML/CTF Regs in June Meeting

When finance officials and central bank governors from G20 member states meet in Fukuoka, Japan in June, they will reportedly discuss anti-money laundering and counter-terrorism financing regulations, Japanese media reported late this week.

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Belgium’s FSMA Adds to List of Suspicious Crypto Platform Sites
Apr06

Belgium’s FSMA Adds to List of Suspicious Crypto Platform Sites

Belgium’s Financial Services and Markets Authority (FSMA) recently added another 7 websites to its list of suspicious cryptocurrency sites. The list now includes a total of 120 websites identified by the FSMA as potential scams designed to defraud investors.

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SEC Releases Digital Asset Guidance
Apr03

SEC Releases Digital Asset Guidance

The SEC announced the release of detailed digital asset guidance on Wednesday, including a published framework designed to help token issuers and others determine when crypto tokens qualify as securities. In a statement announcing the news, the new framework was described as an “analytical tool to help market participants assess whether the federal securities laws apply” to any given digital asset.

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Malta Approves First 14 VFA Agents
Apr02

Malta Approves First 14 VFA Agents

The Malta Financial Services Authority announced in a statement today that it has approved 14 Virtual Financial Asset (VFA) Agents. The approvals are part of a broader effort by Malta to provide regulation for the crypto asset space. According to the statement from the MFSA:

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Pakistani Govt Announces Crypto Regulations
Apr01

Pakistani Govt Announces Crypto Regulations

The government of Pakistan will announce on Monday that it is introducing new cryptocurrency regulations, the Express Tribune reports. The new Electronic Money Institutions regulations are being introduced as part of a broader action plan developed in response to recommendations from the country’s Financial Action Task Force (FATF)

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SEC Delays Decision on Proposed Bitwise ETF
Mar30

SEC Delays Decision on Proposed Bitwise ETF

The U.S. Securities and Exchange Commission this week announced a delay in its decision on a proposed rule change that would allow Bitcoin exchange-traded funds to be listed. The decision means that the SEC now has until May 16 to approve or deny the change:

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Hong Kong SFC Issues STO Guidance
Mar29

Hong Kong SFC Issues STO Guidance

The Hong Kong Securities and Futures Commission (SFC) offered new guidance for security token offerings (STO) in an official statement published on its website March 28. The statement was issued to clarify legal and regulatory requirements and remind investors about risks associated with cryptocurrency and security token offerings.

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LocalBitcoins to Be Subject to Regulation by Finland’s FSA
Mar25

LocalBitcoins to Be Subject to Regulation by Finland’s FSA

In a blog post published today, peer-to-peer digital currency trading firm LocalBitcoins announced that it will soon be subject to regulation by Finland’s Financial Supervisory Authority. The company confirmed that it is working to ensure that its services will be in full compliance with Finnish regulations.

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BIS General Manager Says Central Bank-Issued Crypto Could Undermine Financial Stability
Mar23

BIS General Manager Says Central Bank-Issued Crypto Could Undermine Financial Stability

Bank for International Settlements general manager Agustin Carstens issued a warning Friday to central banks that might be considering their own digital currencies. While speaking at the Central Bank of Ireland in Dublin on Friday, Carstens warned that central bank-issued digital currencies could potentially undermine financial stability.

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Report Claims 95 Percent of Bitcoin Trading is Fake
Mar22

Report Claims 95 Percent of Bitcoin Trading is Fake

A new study from Bitwise claims that as much as 95 percent of all Bitcoin trading volume on unregulated cryptocurrency exchanges is fake, CNBC reports. Researchers concluded that nearly all of the volume reported on 71 of the top 81 crypto exchanges involved wash trading designed to create a false impression of market activity.

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Missoula County Eyes New Zoning Regs to Address Crypto Mining Power Consumption
Mar21

Missoula County Eyes New Zoning Regs to Address Crypto Mining Power Consumption

Missoula County, Montana commissioners have instructed their staff to begin work on interim zoning rules that would regulate power usage for companies like cryptocurrency miners, The Missoulian reported today. The move comes in the wake of two previous discussions about energy usage at the Bonner HyperBlock center.

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