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Crypto Industry Lists Regulatory Framework at the Top of Its Donald Trump Wish List
Crypto industry members are eagerly anticipating pro-crypto policies. While decisions about how cryptoassets are classified will ultimately be up to Congress, an executive order could spur the agencies to produce research pushing the issue forward.
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UK Government Plans to Bring New Rules for Stablecoins, Crypto Staking in Next Six Months
The UK government plans to get new rules governing stablecoins and staking services for cryptoassets approved by lawmakers within the next six months as pressure ratchets up to deliver on specific proposals ahead of an impending general election.
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IMF-FSB, Regulators Set Out Roadmap to Coordinate Global Cooperation on Crypto Asset Regulation
The International Monetary Fund (IMF) and global financial regulators are seeking to increase international cooperation and information sharing by IMF and G20 group members on regulating crypto assets. The global financial agency also states that benefits of crypto assets like cheaper and faster cross-border payments, and increased financial inclus...
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Decentralised Finance Comes Under Global Regulators' Scrutiny as They Seek to Safeguard Market Stability
Global securities regulators set out on Thursday their first blueprint to make participants in "decentralised finance" (DeFi) accountable for their actions and safeguard market stability. DeFi platforms allow users to lend, borrow and save in digital assets, using the blockchain technology that underpins cryptoassets to bypass the traditional gatek...
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UK Unveils Tougher Rules for Crypto Sector, Will Curb Advertising With 'Cooling Off' Periods, Risk Warnings
British consumers buying cryptoassets will get a 24-hour "cooling-off" period for the first time from October under tougher marketing rules unveiled by the financial regulator on Thursday. The Financial Conduct Authority (FCA) said "refer a friend" bonuses for crypto buyers would also be scrapped and that those promoting such assets would have to p...
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International Watchdog Unveils Global Rules to Regulate Crypto Sector; Draws Lessons From FTX Collapse
International securities watchdog IOSCO unveiled on Tuesday the first global approach to regulating cryptoasset and digital markets, drawing on lessons from last year's collapse of the FTX exchange that fuelled concerns over consumer protection.
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Cryptocurrencies Like Bitcoin, Ether Should Be Regulated as Gambling, UK Lawmakers Say Citing Risks
Bitcoin, ether and other cryptocurrencies should be regulated as gambling given they are potentially used by fraudsters and pose significant risks to consumers, a panel of UK lawmakers said in a report on Wednesday.
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European Parliament Backs EU's First Set of Regulations for Crypto Assets; Rules to Roll Out in 2024
Parliament voted by 517 in favour and 38 against to approve the world's first comprehensive set of regulations for issuing and trading crypto assets such as bitcoin.
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DeFi Services Being Used for Illicit Transfers, Warns US Treasury Department
North Korea, cybercriminals, ransomware attackers, thieves and scammers are using decentralized finance (DeFi) services to transfer and launder their illicit proceeds, the USÂ Treasury Department warned on Thursday. So-called DeFi platforms allow users to lend, borrow and save, usually in cryptoassets and stablecoins, without using banks.
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EU's Pending Banking Law Calls for Fast-Track Crypto Capital Rules for Banks
Tough capital rules for banks holding cryptoassets must be fast-tracked in the European Union's pending banking law if Europe wants to avoid missing a globally-agreed deadline, the bloc's executive has said. The global Basel Committee of banking regulators from the world's main financial centres has set a January 2025 deadline for implementing capi...
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FTX Collapse: Global Regulators Set to Target Crypto Sector After Major Platform Crashes
FTX's collapse has galvanised regulators globally who are set to target the crypto sector and 'conglomerate' platforms in 2023, according to IOSCO Chairperson Jean-Paul Servais. Crypto assets like Bitcoin have been around for years but regulators have resisted jumping in to write new rules, but the implosion at FTX, which left an estimated one mill...
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Regulators Propose First Global Rules Before 'Crypto Winter' Thaw
Cryptoasset companies should set aside capital like banks when undertaking similar activities, regulators proposed.
-
European Central Bank Steps in as Banks Test Crypto Waters Ahead of Pan-EU Licensing Rules
The European Central Bank (ECB) on Wednesday announced that it was taking steps to harmonise the assessment of licensing requests. The ECB, which directly regulates top euro zone lenders such as Deutsche Bank, UniCredit and BNP Paribas, said it would examine if crypto activities were in line with a bank's risk "profile", which determines how much c...
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EU Agrees Rulebook for 'Wild West' Crypto Markets: What Are the New Rules and How Will It Affect in Future?
The European Union last week reached a provisional deal on the world's first set of comprehensive rules to regulate the "Wild West" crypto market. Now, the crypto firms that want to issue and sell digital tokens in an EU state will have to obtain a licence from a national regulator.
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Crypto Regulations Need To Keep Pace With Market Growth: Bank Of Canada
The number of Canadians who own cryptoassets is growing rapidly and efforts to regulate the sector need to start keeping pace, a senior Bank of Canada official said, noting many people may not understand the risk of investing in products like bitcoin.
-
Crypto Industry Lists Regulatory Framework at the Top of Its Donald Trump Wish List
Crypto industry members are eagerly anticipating pro-crypto policies. While decisions about how cryptoassets are classified will ultimately be up to Congress, an executive order could spur the agencies to produce research pushing the issue forward.
-
UK Government Plans to Bring New Rules for Stablecoins, Crypto Staking in Next Six Months
The UK government plans to get new rules governing stablecoins and staking services for cryptoassets approved by lawmakers within the next six months as pressure ratchets up to deliver on specific proposals ahead of an impending general election.
-
IMF-FSB, Regulators Set Out Roadmap to Coordinate Global Cooperation on Crypto Asset Regulation
The International Monetary Fund (IMF) and global financial regulators are seeking to increase international cooperation and information sharing by IMF and G20 group members on regulating crypto assets. The global financial agency also states that benefits of crypto assets like cheaper and faster cross-border payments, and increased financial inclus...
-
Decentralised Finance Comes Under Global Regulators' Scrutiny as They Seek to Safeguard Market Stability
Global securities regulators set out on Thursday their first blueprint to make participants in "decentralised finance" (DeFi) accountable for their actions and safeguard market stability. DeFi platforms allow users to lend, borrow and save in digital assets, using the blockchain technology that underpins cryptoassets to bypass the traditional gatek...
-
UK Unveils Tougher Rules for Crypto Sector, Will Curb Advertising With 'Cooling Off' Periods, Risk Warnings
British consumers buying cryptoassets will get a 24-hour "cooling-off" period for the first time from October under tougher marketing rules unveiled by the financial regulator on Thursday. The Financial Conduct Authority (FCA) said "refer a friend" bonuses for crypto buyers would also be scrapped and that those promoting such assets would have to p...
-
International Watchdog Unveils Global Rules to Regulate Crypto Sector; Draws Lessons From FTX Collapse
International securities watchdog IOSCO unveiled on Tuesday the first global approach to regulating cryptoasset and digital markets, drawing on lessons from last year's collapse of the FTX exchange that fuelled concerns over consumer protection.
-
Cryptocurrencies Like Bitcoin, Ether Should Be Regulated as Gambling, UK Lawmakers Say Citing Risks
Bitcoin, ether and other cryptocurrencies should be regulated as gambling given they are potentially used by fraudsters and pose significant risks to consumers, a panel of UK lawmakers said in a report on Wednesday.
-
European Parliament Backs EU's First Set of Regulations for Crypto Assets; Rules to Roll Out in 2024
Parliament voted by 517 in favour and 38 against to approve the world's first comprehensive set of regulations for issuing and trading crypto assets such as bitcoin.
-
DeFi Services Being Used for Illicit Transfers, Warns US Treasury Department
North Korea, cybercriminals, ransomware attackers, thieves and scammers are using decentralized finance (DeFi) services to transfer and launder their illicit proceeds, the USÂ Treasury Department warned on Thursday. So-called DeFi platforms allow users to lend, borrow and save, usually in cryptoassets and stablecoins, without using banks.
-
EU's Pending Banking Law Calls for Fast-Track Crypto Capital Rules for Banks
Tough capital rules for banks holding cryptoassets must be fast-tracked in the European Union's pending banking law if Europe wants to avoid missing a globally-agreed deadline, the bloc's executive has said. The global Basel Committee of banking regulators from the world's main financial centres has set a January 2025 deadline for implementing capi...
-
FTX Collapse: Global Regulators Set to Target Crypto Sector After Major Platform Crashes
FTX's collapse has galvanised regulators globally who are set to target the crypto sector and 'conglomerate' platforms in 2023, according to IOSCO Chairperson Jean-Paul Servais. Crypto assets like Bitcoin have been around for years but regulators have resisted jumping in to write new rules, but the implosion at FTX, which left an estimated one mill...
-
Regulators Propose First Global Rules Before 'Crypto Winter' Thaw
Cryptoasset companies should set aside capital like banks when undertaking similar activities, regulators proposed.
-
European Central Bank Steps in as Banks Test Crypto Waters Ahead of Pan-EU Licensing Rules
The European Central Bank (ECB) on Wednesday announced that it was taking steps to harmonise the assessment of licensing requests. The ECB, which directly regulates top euro zone lenders such as Deutsche Bank, UniCredit and BNP Paribas, said it would examine if crypto activities were in line with a bank's risk "profile", which determines how much c...
-
EU Agrees Rulebook for 'Wild West' Crypto Markets: What Are the New Rules and How Will It Affect in Future?
The European Union last week reached a provisional deal on the world's first set of comprehensive rules to regulate the "Wild West" crypto market. Now, the crypto firms that want to issue and sell digital tokens in an EU state will have to obtain a licence from a national regulator.
-
Crypto Regulations Need To Keep Pace With Market Growth: Bank Of Canada
The number of Canadians who own cryptoassets is growing rapidly and efforts to regulate the sector need to start keeping pace, a senior Bank of Canada official said, noting many people may not understand the risk of investing in products like bitcoin.
