Regulation

U.S. Senator Bill Hagerty (R-VA), who was elected in 2020 to represent Tennessee after a stint as Ambassador to Japan, spoke to newly appointed Consumer Financial Protection Bureau Director Rohit Chopra regarding cryptocurrencies in a banking committee hearing, saying “I just want to make certain as you exercise those oversight responsibilities that we don’t stifle
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Tinkoff Investments, the online brokerage of major Russian private bank Tinkoff, is researching cryptocurrency investment services despite the Bank of Russia withholding the bank from launching such tools. Tinkoff Investments head Dmitry Panchenko claimed that the bank’s brokerage portal is considering projects related to cryptocurrency investment but it’s too early to discuss specific ideas. The
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The Indian government may be looking into establishing a legal framework for crypto-based digital currencies as “assets” as early as February.  According to a Tuesday report from Indian news outlet Business Today, officials with the country’s Finance Ministry said the potential legal framework would treat cryptocurrencies closer to commodities than currencies. If this legislation comes
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During an earnings call with investors and stakeholders, Michael Miebach, CEO of Mastercard, discussed his positive outlook on the cryptocurrency industry. The company has not only seen sizable volume growth in consumers using their Mastercards to purchase crypto but has also secured several partnerships with cryptocurrency firms. But Miebach’s most ambitious viewpoint emerged during a
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Japanese cryptocurrency exchange Liquid has announced that its subsidiary firm, Quoine Corporation, has acquired a Type I Financial Instruments Business license under the Financial Instruments and Exchange Act from the Japanese regulatory authorities. The approval will allow Liquid to commence derivatives trading on its platform, offering investment opportunities to both retail and institutional clients, although
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A group of high-level U.S. government attorneys has oulined their priorities for the enforcement and prosecution of individuals and companies that have committed crypto-related crimes. Enforcement officials from the U.S. Department of Justice (DoJ), Securities and Exchange Commission (SEC), and Commodity Futures Trading Commission (CFTC) spoke about the direction their agencies will take at a
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Despite Russian officials’ increased interest in cryptocurrencies like Bitcoin (BTC), Russia’s internet ombudsman expressed confidence that local crypto regulations will remain largely prohibitive. Dmitry Marinichev, Russia’s ombudsman for the protection of entrepreneurs’ rights under Russian President Vladimir Putin, discussed Russia’s approach to cryptocurrency regulations at a panel of a major local industry event, Blockchain Life 2021,
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The central bank of Spain is introducing new registration guidelines for local virtual currency service providers, or VASPs, including banking institutions. The Bank of Spain has issued instructions on VASP registration for Anti-Money Laundering, or AML, purposes, requiring institutions to submit their registration requests through an electronic registry, Cointelegraph en Español reported Oct. 25. Issuing
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Jelena McWilliams, the chairperson of the Federal Deposit Insurance Corporation, or FDIC, has said the agency is working with other regulators in the United States to explore “under what circumstances banks can engage in activities involving crypto assets.” In a speech at the Money20/20 fintech conference on Oct. 25, McWilliams said the FDIC, in coordination
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Tether Operations Limited, the firm operating the Tether (USDT)-centric platform tether.to, announced today that it will use Notabene, an end-to-end solution for cryptocurrency Travel Rule compliance. Tether will begin testing Notabene’s cross-border transaction monitoring system for virtual asset service providers (VASPs) to combat financial crimes such as money laundering. Notabene is a new technology for
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New York-based decentralized prediction market Polymarket has come under investigations from the United States Commodity Futures Trading Commission (CFTC). According to an Oct. 23 report from Bloomberg citing anonymous sources, the CFTC is investigating whether Polymarket is allowing its customers to trade binary options and swaps that should be registered with the financial regulator. The
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