Bitcoin Will Face Tougher Regulation as Popularity Grows, Says Sweden’s Central Banker

SEC Urges Congress to Pass Cryptocurrency Legislation to Protect Investors

SEC Urges Congress to Pass Cryptocurrency Legislation to Protect Investors

Biden Administration Looking to Increase Cryptocurrency Oversight to Protect Investors, Prevent Illicit Transactions

The Biden administration is reportedly looking to increase oversight of the crypto market with the aim to protect investors and prevent illicit transactions. White House officials, lawmakers, and central bankers have had several meetings on cryptocurrency regulation amid recent price swings of crypto assets. Biden Administration Discussing Crypto Regulation The Biden administration, lawmakers, and central […]

SEC Chair Gensler Says Cryptocurrency Exchanges Need More Regulation, Asks Congress to Weigh in

The new chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, is pushing for more regulation around cryptocurrency exchanges, citing the need for investor protection in this area. He has asked Congress to weigh in. SEC Chairman Pushes for More Crypto Regulation SEC Chairman Gary Gensler talked about cryptocurrency regulation on Thursday at […]

Australian Senator Says Cryptocurrency Is Not a Fad — Government Won’t Stand in the Way

Australian Senator and Minister of Financial Services Jane Hume said that “cryptocurrency is not a fad. It is an asset class that will grow in importance.†She emphasized that the government won’t stand in the way of crypto investing. “We have to let people make their own decisions,†she said. Australian Government Won’s Stand in […]

Asset Managers UBS, Pimco, T. Rowe Price Caution of Cryptocurrency Investing, Expect Strict Regulations

A number of asset managers have cautioned about investing in cryptocurrencies, including UBS Wealth Management, Pimco, T. Rowe Price, and Glenmede Investment Management. “We expect more stringent policy and regulatory controls ahead for crypto as it becomes more mainstream,†said UBS. Asset Managers Caution of Crypto Investing A number of asset managers have expressed caution […]

Former Finance Secretary Urges Indian Government to Encourage Crypto Services, Regulate Cryptocurrencies

Former Finance Secretary Subhash Chandra Garg, who headed the committee that drafted India’s cryptocurrency bill, says that the government should not ban cryptocurrencies but regulate them instead. He further urges the government to encourage crypto services. Indian Government Should Regulate Cryptocurrencies and Encourage Crypto Asset Services Subhash Chandra Garg said Thursday at a virtual event […]

Former Finance Secretary Urges Indian Government to Encourage Crypto Services, Regulate Cryptocurrencies

Former Finance Secretary Subhash Chandra Garg, who headed the committee that drafted India’s cryptocurrency bill, says that the government should not ban cryptocurrencies but regulate them instead. He further urges the government to encourage crypto services. Indian Government Should Regulate Cryptocurrencies and Encourage Crypto Asset Services Subhash Chandra Garg said Thursday at a virtual event […]

Thailand’s New Cryptocurrency Regulation Requires Users to Be Physically Present to Open Accounts

The Thai government has reportedly imposed a new cryptocurrency requirement. Crypto exchanges will be required to verify users’ identities using a machine that requires the customers to be physically present. Thailand’s New Crypto Rules The Thai Anti-Money Laundering Office (Amlo) has announced that starting in July “local digital exchanges must verify their customers’ identities through […]

Task Force Pushes Biden Administration to Tighten Cryptocurrency Regulation

A public-private task force has submitted a report to the Biden administration that includes recommendations to tighten the regulation of cryptocurrencies, including bitcoin, with the aim to combat ransomware. “The cryptocurrency sector that enables ransomware crime should be more closely regulated,†the task force wrote. White House Urged to Tighten Crypto Regulation A task force, […]

Task Force Pushes Biden Administration to Tighten Cryptocurrency Regulation

A public-private task force has submitted a report to the Biden administration that includes recommendations to tighten the regulation of cryptocurrencies, including bitcoin, with the aim to combat ransomware. “The cryptocurrency sector that enables ransomware crime should be more closely regulated,†the task force wrote. White House Urged to Tighten Crypto Regulation A task force, […]

All 200 Cryptocurrency Exchanges Could Be Shut Down Under New Regulation in South Korea, Regulator Warns

The chairman of South Korea’s top financial regulator, the Financial Services Commission (FSC), Eun Sung-soo, has warned that all of the cryptocurrency exchanges in the country could be shut down. South Korea currently has about 200 cryptocurrency exchanges, he said. All Crypto Exchanges Could Be Shut Down in South Korea At the general meeting of […]

Turkey Drafting Crypto Regulation — Central Bank Says No Intention to Ban Cryptocurrencies

The Turkish government is reportedly creating a regulatory framework for cryptocurrencies after two crypto exchanges in the country abruptly halted trading and are now being investigated for fraud. The government is reportedly planning to establish a central custodian bank among other initiatives. The Turkish government is working on cryptocurrency regulation. Bloomberg reported on Tuesday that […]

Iran Authorizes Banks and Currency Exchangers to Use Cryptocurrencies to Pay for Imports

The Central Bank of Iran has authorized banks and currency exchangers to use cryptocurrencies mined by licensed crypto miners in the country to pay for imports. Meanwhile, a bill is being drafted to provide regulatory clarity regarding crypto-related activities. Using Cryptocurrencies to Pay for Imports The Central Bank of Iran (CBI) has announced that banks […]

All 200 Cryptocurrency Exchanges Could Be Shut Down Under New Regulation in South Korea, Regulator Warns

The chairman of South Korea’s top financial regulator, the Financial Services Commission (FSC), Eun Sung-soo, has warned that all of the cryptocurrency exchanges in the country could be shut down. South Korea currently has about 200 cryptocurrency exchanges, he said. All Crypto Exchanges Could Be Shut Down in South Korea At the general meeting of […]

Biden Administration Developing Cryptocurrency Regulation — Treasury to Provide Direction to SEC

The Biden administration is reportedly developing a regulatory framework for the cryptocurrency markets. The new chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, is waiting for direction from the Treasury to establish cryptocurrency regulation. New Crypto Regulation Being Developed by Biden Administration Fox Business’ Charlie Gasparino reported Monday that the Biden administration […]

US SEC Expected to Impose ‘Fair Amount’ of Regulation on Cryptocurrencies, Says Former Chairman

Former SEC Chairman Harvey Pitt says that he expects a “fair amount†of crypto regulation coming from the U.S. Securities and Exchange Commission (SEC) following the confirmation of the new chairman. Former SEC Chair Expects ‘Fair Amount’ of New Crypto Regulation Harvey Pitt talked about the future of cryptocurrency regulation under the new chairman, Gary […]

Biden Administration Developing Cryptocurrency Regulation — Treasury to Provide Direction to SEC

The Biden administration is reportedly developing a regulatory framework for the cryptocurrency markets. The new chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, is waiting for direction from the Treasury to establish cryptocurrency regulation. New Crypto Regulation Being Developed by Biden Administration Fox Business’ Charlie Gasparino reported Monday that the Biden administration […]

US SEC Expected to Impose ‘Fair Amount’ of Regulation on Cryptocurrencies, Says Former Chairman

Former SEC Chairman Harvey Pitt says that he expects a “fair amount†of crypto regulation coming from the U.S. Securities and Exchange Commission (SEC) following the confirmation of the new chairman. Former SEC Chair Expects ‘Fair Amount’ of New Crypto Regulation Harvey Pitt talked about the future of cryptocurrency regulation under the new chairman, Gary […]

Turkey Bans Cryptocurrency Use for Payments as Local Currency Plunges

The Central bank of the Republic of Turkey has issued a cryptocurrency regulation prohibiting the use of cryptocurrencies for payments of goods and services. From the end of this month, crypto assets cannot be used directly or indirectly as a means of payment in the country and no service can be provided for this purpose. […]

Goldman Sachs Predicts ‘Big Evolution’ Coming to Cryptocurrency Regulation

Goldman Sachs CEO David Solomon foresees “big evolution†coming to cryptocurrency regulation as demand for bitcoin from clients continues to rise. He says that Goldman will “continue to find ways to serve our clients as we move forward.†Crypto Regulation Will Experience ‘Big Evolution,’ Says Goldman Sachs’ Chief David Solomon, the CEO of global investment […]

RBI Governor Says Government and Central Bank Agree on Cryptocurrency Approach

RBI Governor Shaktikanta Das says that there is no difference of opinion between the Reserve Bank of India (RBI) and the finance ministry on cryptocurrencies. While the finance minister said that the government will not shut off all options and will take a calibrated position regarding crypto legislation, the central bank has voiced some “major […]

RBI Governor Says Government and Central Bank Agree on Cryptocurrency Approach

RBI Governor Shaktikanta Das says that there is no difference of opinion between the Reserve Bank of India (RBI) and the finance ministry on cryptocurrencies. While the finance minister said that the government will not shut off all options and will take a calibrated position regarding crypto legislation, the central bank has voiced some “major […]

Indian Government May Block IP Addresses of Crypto Exchanges

As the Indian government prepares to introduce the cryptocurrency bill, there are reports that it is considering blocking the IP addresses of cryptocurrency exchanges. Despite ban reports, many people in the Indian crypto community believe that the government will not impose an outright ban on cryptocurrencies, including bitcoin. Blocking IP Addresses of Crypto Trading Platforms […]

Janet Yellen Stresses Importance of Crypto Regulation, Making Sure Bitcoin Is Not Used in Illicit Transactions

U.S. Treasury Secretary Janet Yellen has reaffirmed that it is important to ensure that bitcoin and other cryptocurrencies are not used for illicit financing. In addition, she stresses the importance of regulating institutions that deal with bitcoin. Janet Yellen Claims It’s Important to Make Sure Bitcoin Is Not Used for Illicit Financing U.S. Treasury Secretary […]

Indian Finance Minister Answers Questions on Cryptocurrency Plans and Ban Proposal

India’s Finance Minister Nirmala Sitharaman has answered some questions regarding cryptocurrency in Rajya Sabha, the upper house of India’s parliament. The questions include measures the government plans to impose on the crypto industry. Finance Minister Nirmala Sitharaman Answers Crypto Questions in Parliament The Indian finance minister answered four questions Tuesday in Rajya Sabha regarding the […]

Indian Government Prepares to Fast Track Crypto Bill — Plans to Introduce Cryptocurrency Law in a Month: Report

The Indian government is reportedly considering taking “the ordinance route†to quickly pass the cryptocurrency bill. “The government is of the firm view that they want to introduce the law within a month of clearance of the ordinance,†a local news outlet detailed. Indian Government Seeks to Quickly Pass Crypto Bill All eyes are on […]

Indian Government Prepares to Fast Track Crypto Bill — Plans to Introduce Cryptocurrency Law in a Month: Report

The Indian government is reportedly considering taking “the ordinance route†to quickly pass the cryptocurrency bill. “The government is of the firm view that they want to introduce the law within a month of clearance of the ordinance,†a local news outlet detailed. Indian Government Seeks to Quickly Pass Crypto Bill All eyes are on […]

South African Regulator Warns Crypto Investors to ‘Be Prepared to Lose All’ Following Collapse of Bitcoin Trading Company MTI

The Financial Sector Conduct Authority (FSCA) has issued what it terms crypto health warning after receiving many complaints from South African victims of crypto scams. In the warning, the FSCA reminds prospective investors that crypto-related investments are currently not regulated. Therefore, investors have no recourse against anyone should they get duped. Cryptocurrencies Are High-Risk Assets […]

Ripple Formally Responds to SEC Allegations — Claims SEC Picking Winners and Losers, Distorting Facts About XRP

Ripple Labs has officially responded to the complaint by the U.S. Securities and Exchange Commission (SEC). Besides explaining that the XRP cryptocurrency is not a security, Ripple accuses the securities regulator of being out of step, picking winners and losers, as well as distorting facts regarding the cryptocurrency. In the court document filed on Jan. […]

Philippine Central Bank Widens Cryptocurrency Regulation — Sees ‘Accelerated Growth’ in Crypto Activity

The Philippines’ central bank, the Bangko Sentral ng Pilipinas (BSP), has expanded the country’s cryptocurrency regulation after seeing “accelerated growth†in the use of crypto exchanges. The new regulatory framework is in line with the guidelines recommended by the Financial Action Task Force (FATF), according to the central bank. Philippine Central Bank Introduces New Rules […]

Indian Central Bank Sees Cryptocurrencies Gaining Popularity, Exploring Digital Rupee

India’s central bank, the Reserve Bank of India (RBI), has published a booklet with a section about cryptocurrency and the digital rupee. The central bank acknowledged that cryptocurrencies have gained popularity in recent years and confirmed that it is exploring the need for a central bank digital currency. RBI Says Crypto Has Gained Popularity, Exploring […]

Janet Yellen Clarifies Her Stance on Bitcoin — Promises ‘Effective’ Crypto Regulation

Joe Biden’s pick to become the new U.S. Treasury Secretary, Janet Yellen, has clarified her stance on bitcoin and cryptocurrencies. This follows her remarks during a Senate hearing when she said that cryptocurrencies are mostly used for illicit financing. Janet Yellen Clarifies Her Crypto Plans Janet Yellen clarified her position on the regulation of cryptocurrencies […]

Janet Yellen Reveals Plans for Bitcoin — Sees Cryptocurrencies Used Mainly for Illicit Financing

Janet Yellen, Joe Biden’s pick for the Treasury Secretary, has revealed her policy for cryptocurrencies, including bitcoin. She claims that cryptocurrencies are mainly used for illicit financing and their use needs to be curtailed. Janet Yellen Reveals Her Plans for Cryptocurrencies In the Senate hearing to consider Janet Yellen’s nomination as Secretary of the Treasury […]

Economist Slams ECB Chief Lagarde’s Bitcoin Remarks as Dangerous for Cryptocurrency Regulation

Responding to European Central Bank (ECB) President Christine Lagarde’s recent remarks about bitcoin, the chief economist at investment firm Tressis said what Lagarde implied was “outrageous†and “dangerous†for cryptocurrency regulation. Economist Says Governments Would Be Happy to Implement Strict Crypto Regulations Daniel Lacalle, fund manager and chief economist at Tressis Gestion, commented on Christine […]

Crypto Regulation Commences in Serbia: Trading, Mining Legalized

Serbia has started regulating the crypto industry as the country’s law on digital assets has gone into effect. It requires cryptocurrency service providers to obtain a license and legalizes crypto activities, including trading and mining. Serbia Starts Regulating Cryptocurrency Serbia’s recently adopted Law on Digital Assets went into effect last week with a publication in […]

FinCEN to Impose New Regulation for Crypto Holdings at Foreign Exchanges

The Financial Crimes Enforcement Network (FinCEN) has announced that it will soon propose new regulation affecting cryptocurrency holdings at foreign exchanges. This proposal is separate from the one FinCEN recently proposed on cryptocurrency wallets. FinCEN’s New Crypto Rules FinCEN, a bureau of the U.S. Department of the Treasury, issued a notice on Thursday regarding a […]

Biden Administration May Roll Back Some Crypto Regulations, Top Banking Regulator Warns

The top U.S. banking regulator is concerned that the Biden administration may roll back some cryptocurrency regulations aimed at protecting consumers. This includes allowing national banks to custody crypto assets put in place during the Trump administration. Biden Administration Could Change US Crypto Regulations Acting Comptroller of the Currency, Brian Brooks, shared several concerns regarding […]

Hong Kong Grants First License to Cryptocurrency Trading Platform

Hong Kong now has its first regulated cryptocurrency trading platform. The Securities and Futures Commission has just given out the first-ever crypto license to OSL Digital Securities which will soon commence trading for several cryptocurrencies, including bitcoin. Hong Kong Gives Out First Crypto License Hong Kong’s Securities and Futures Commission (SFC) has licensed the first […]

Hong Kong Grants First License to Cryptocurrency Trading Platform

Hong Kong now has its first regulated cryptocurrency trading platform. The Securities and Futures Commission has just given out the first-ever crypto license to OSL Digital Securities which will soon commence trading for several cryptocurrencies, including bitcoin. Hong Kong Gives Out First Crypto License Hong Kong’s Securities and Futures Commission (SFC) has licensed the first […]

France Approves New Cryptocurrency Measures to Fight Anonymous Transactions

The French council of ministers has approved a series of new measures to combat the anonymity of cryptocurrency transactions. Anonymous accounts are banned at crypto exchanges which must now impose stricter know-your-customer requirements. France’s Finance Minister Bruno Le Maire says the changes are necessary to fight against terrorism financing. France Tightens Crypto Surveillance France’s Council […]

France Approves New Cryptocurrency Measures to Fight Anonymous Transactions

The French council of ministers has approved a series of new measures to combat the anonymity of cryptocurrency transactions. Anonymous accounts are banned at crypto exchanges which must now impose stricter know-your-customer requirements. France’s Finance Minister Bruno Le Maire says the changes are necessary to fight against terrorism financing. France Tightens Crypto Surveillance France’s Council […]

US Lawmakers Caution Against Regulations Restricting Use of Self-Hosted Crypto Wallets

Four U.S. lawmakers have sent a letter to Treasury Secretary Steven Mnuchin, warning of the risks of restricting the use of self-hosted cryptocurrency wallets. Their concerns follow reports that the Treasury Department may be on the verge of imposing such strict cryptocurrency regulations aimed at self-hosted crypto wallets. Crypto Regulations That Could Make Existing Self-Hosted […]

ECB Chief Christine Lagarde Downplays Bitcoin’s Risks to Financial Stability, Troubled by Stablecoins

ECB President Christine Lagarde downplays any risks bitcoin and other cryptocurrencies could pose to financial stability and monetary sovereignty. In contrast, she sees stablecoins, such as Facebook-backed libra, as posing “serious risks.†Christine Lagarde, Bitcoin, and Facebook’s Libra The president of the European Central Bank (ECB), Christine Lagarde, shared her view on the future of […]

SEC Chairman Jay Clayton Explains US Crypto Regulation, Calls Bitcoin a Store of Value

The chairman of the U.S. Securities and Exchange Commission (SEC) has explained how the U.S. government is regulating cryptocurrency. He calls bitcoin a store of value, noting that its rise is driven by the inefficiencies of the current payment system. How Bitcoin Is Regulated in the US SEC Chairman Jay Clayton explained how the U.S. […]

South Africa Unveils New Crypto Rules as Usage Soars Exponentially

The South African financial regulator has published a draft declaration of crypto assets as financial products. The regulator says South Africa has experienced “an exponential increase in the provision and use of crypto assets.†South Africa’s Crypto Regulation South Africa’s Financial Sector Conduct Authority (FSCA) announced Friday that it has published “a draft declaration of […]

Russia Proposes New Rules and Penalties for Cryptocurrency Owners

The Russian Ministry of Finance has developed new amendments to the country’s cryptocurrency regulation. The proposal outlines a new set of rules for crypto owners, exchanges, and miners, as well as penalties for undeclared crypto transactions. Russia’s New Crypto Regulation Russia’s Ministry of Finance has proposed new amendments to the country’s law on digital financial […]

Russia Proposes New Rules and Penalties for Cryptocurrency Owners

The Russian Ministry of Finance has developed new amendments to the country’s cryptocurrency regulation. The proposal outlines a new set of rules for crypto owners, exchanges, and miners, as well as penalties for undeclared crypto transactions. Russia’s New Crypto Regulation Russia’s Ministry of Finance has proposed new amendments to the country’s law on digital financial […]