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Newsflash: Indian Regulators Officially Propose Total Cryptocurrency Ban

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An Indian inter-ministerial committee on cryptocurrency and blockchain technology has finalized a report recommending both the establishment of a digital Rupee and a ban of cryptocurrencies. Ban Crypto, Establish E-Rupee The roughly 200-page report spends thousands of words breaking down and praising the potential uses of blockchain technology, specifically in areas like land management. Ultimately […]

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Australian Couple Loses $900K to Crypto Scam Despite Regulator’s Efforts

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An Australian couple lost AUD $ 900,000 after “investing” in an elaborate cryptocurrency scam. Mike Taylor, 70, and his wife Karen told local station 7News that the losses represented the couple’s lifetime savings: “That was the whole of our superannuation – that’s now gone.” They did not explain in detail how the scheme worked; however, Taylor […]

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Regulators Tackle Businesses in Europe’s Crypto-Friendly Nations

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Regulators Tackle Businesses in Europe’s Crypto-Friendly Nations

There’s a group of countries on the Old Continent that have recognized the potential of the newly forming cryptoconomy. In the past couple of years, nations such as Malta, Switzerland and Estonia have been making efforts to attract businesses from the nascent industry, often rebuffed elsewhere. However, registering and running a crypto company, even in the most favorable climates, comes with certain challenges as businesses across the continent have been finding out.

Also read: Online Bank Mistertango Offers Crypto Companies Multiple Accounts and Ibans  Read more...

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Canadian Capital Market Regulators Mull New Cryptocurrency Rules

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Canadian Capital Markets Regulators Mull New Cryptocurrency Rules

Capital market regulators in Canada are planning to establish new rules to curb the risks associated with cryptocurrency trading platforms. This follows the sudden death of Gerald Cotten, founder and chief executive officer of crypto exchange Quadrigacx, which led to about $ 145 million in frozen or missing cryptocurrencies.

Also read: Bitcoin Exchange Gatecoin Shuts Down Citing Financial Difficulty

Tailored Requirements for Crypto Exchanges

In a joint new consultation paper on March 14, the Canadian Securities Administrators (CSA) and the Investment Industry Regulatory Organization of Canada (IIROC) spoke of the need to come up with tailored requirements to address the “novel features and risks” of digital currency exchanges.  Read more...

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CipherTrace Partners with Maltese Regulators to Manage Risk of Financial Crimes

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CipherTrace, a blockchain analytics company, is partnering with the Republic of Malta’s sole financial regulatory agency to ensure that all crypto transactions within the country are free of money laundering and other similar financial crimes.

As the Times of Malta reported on March 11, 2019, the Malta Financial Services Authority (MFSA) has enlisted the help of U.S.-based company CipherTrace to audit cryptoasset services that operate within Malta’s jurisdiction.

The MFSA will require potential cryptocurrency agents, like individuals operating exchanges, wallets and ICOs, to formally register with the MFSA. CipherTrace will then “provide the MFSA with powerful oversight tools to automate regulatory processes and audit the risk management of virtual asset businesses licensed in Malta,” claimed CEO Joseph Cuschieri.  Read more...

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Kenyan Crypto Adoption and Trading Grows Despite Warnings from Regulators

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Kenyan Crypto Adoption and Trading Grows Despite Warnings from Regulators

Over the last two years, the Kenyan government and central bank have been discussing how to regulate bitcoin and other digital currencies. In March 2018, the Central Bank of Kenya warned the general public about cryptocurrency investments. After those warnings, the region’s Capital Markets Authority (CMA) cautioned the public again after investigating a project called kenicoin. Even though financial regulators are dressing down digital currencies, Kenyan merchants and traders in the region are still flocking toward the crypto asset economy.

Also read: SEC Chair Explains Key Upgrades Needed for Bitcoin ETF Approval  Read more...

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B2C2 Gets Go-Ahead from U.K. Regulators to List Bitcoin Derivative

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B2C2, a cryptocurrency “liquidity provider” and electronic OTC trading magnate, has recently announced that British regulators have given their U.K.-based subsidiary approval to offer the crypto space a new investment derivative.

According to a press release shared with Bitcoin Magazine, the British Financial Conduct Authority (FCA) has authorized B2C2 OTC Inc. “to arrange and deal in Contracts for Difference (CFDs) with eligible counterparties and professional clients.” The release went on to claim that “the FCA authorisation will allow these clients of B2C2 OTC Ltd to gain exposure to cryptocurrency markets via the firm’s CFDs.”  Read more...

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European Banking Regulators Call for Unity in Crypto Regulations

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Last week, two of the largest banking regulators within the European Union released reports calling for uniformity in the regulations of crypto assets and Initial Coin offerings (ICOs) across the continent.

The EBA Calls for Pan-EU Crypto Regulations

On January 9, 2019, the European Banking Authority (EBA) published its assessment of crypto laws. The document, which examines the sustainability of EU laws to cryptocurrencies, analyzed the use of digital assets within the EU, as well as some of the pan-EU laws that currently govern them.  Read more...

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Australia: Regulators Freezes Assets of BitConnect Promoter John Bigatton

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John Bigatton, the only representative for BitConnect Australia, has had his assets frozen by the  Australian Securities and Investments Commission (ASIC), functions very similarly to the Securities and Exchange Commission in the United States. Bigatton can’t travel, as part of the ongoing investigation. In the video below, Bigatton celebrates with BitConnect victims as cash rains

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UK Regulators Probe 18 Crypto Firms for Fraud and Illegal Operations

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Over a dozen firms in the cryptocurrency sector are under investigation by UK’s financial regulator, reports the Financial Times. According to the business publication, the Financial Conduct Authority (FCA) disclosed on Sunday that 18 companies were being investigated over their involvement in selling cryptocurrencies. Additionally, alerts and warnings had been sent to another dozen or … Continued

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Bitmain IPO Put in Doubt by Hong Kong Financial Regulators

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Hong Kong financial regulators are reluctant to back any crypto-related business at this moment in time while proper rules are being drafted to regulate initial public offerings (IPOs). The news might have a serious knock-on effect on the application of the Bitmain IPO and other related crypto projects in Hong Kong in the near future.

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Hong Kong Regulators Set to Tighten Cryptocurrency Laws

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Asia is currently one of the most regulated continents on the planet in terms of cryptocurrency laws. Hong Kong is the latest Asian nation that is set to tighten crypto laws on traders and exchanges. The Hong Kong Securities and Exchanges Commission (SFC) is looking to tighten the current cryptocurrency laws as concerns over crypto-crime

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French Tobacco Shops Want to Sell Bitcoin — Regulators Aren’t Happy

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The French version of the SEC, the Autorité des marchés financiers, along with the Banque de France issued a statement Monday regarding the intentions of KeplerK, a company which was previously reported to have gotten approval and is planning to partner with tobacco shop operators to sell Bitcoin in their stores across the country. It seems

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UK Regulators Plan “Comprehensive Response” to Illicit Crypto Use

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Christopher Woolard of the United Kingdom (UK) Financial Conduct Authority (FCA) has indicated that UK regulators are planning a “comprehensive response” to the illicit adoption of crypto assets amid increased adoption among local businesses and consumers. Despite announcing increased regulatory action regarding illegal use of crypto, Woolard stated he does not view crypto assets as a threat to financial stability.

Also Read: Venezuela Approves Law Granting Legal Effect to the Petro

UK Regulatory Institutions Collaborate to Assess Crypto

UK Regulators Plan “Comprehensive Response” to Illicit Crypto UseSpeaking at the Regulation of Cryptocurrencies event in London, Christopher Woolard, the executive director of strategy and competition at the FCA, stated that the regulator is planning to take significant action to crack down on the illicit use of cryptocurrencies.  Read more...

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Crypto Market Crash Takes Pressure off Us: UK Regulators

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Britain’s financial regulatory body has had some pressure taken off its shoulders as the downturn in the value of bitcoin and other digital assets signaled a reduction in the threat cryptos could pose to the British financial system, per a Reuters report. Last year, the world witnessed a crypto explosion, as digital assets like bitcoin

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Korean Exchange Shuts Down as Regulators Crack Down on Its Cryptocurrency Fund

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Korean Exchange Shuts Down After Regulator Cracks Down on Its Cryptocurrency Fund

Cryptocurrency exchange Zeniex has announced that it is terminating all services after South Korea’s financial authorities started cracking down on unauthorized crypto funds. The exchange is asking its customers to withdraw their cryptocurrencies before the end-of-service date.

Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space

Terminating Services and Fund

Korean Exchange Shuts Down as Regulators Crack Down on Its Cryptocurrency FundZeniex, an exchange launched in May, announced on Friday the termination of all services. The decision follows the investigation by South Korean financial authorities of the exchange’s cryptocurrency fund called Zxg Crypto Fund No. 1 (ZXG). Zeniex elaborated:  Read more...

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