Former public policy attorney Keiko Yoshino writes about why she started paying attention to crypto, particularly the regulatory missteps.
CoinDesk: Bitcoin, Ethereum, Crypto News and Price Data
Ripple Vs. SEC: Government Watchdog Supports Motion to Unseal Hinman Docs
Forbes journalist Dr. Roslyn Layton is receiving support for her motion to intervene in the lawsuit between Ripple Labs and the Securities Exchange Commission (SEC) seeking public access to the Hinman speech documents. Empower Oversight Whistleblowers & Research (EMPOWR) has expressed its support for the motion.
EMPOWR is a nonprofit, nonpartisan organization that works to improve independent oversight of government and corporate misconduct. Its mission is to help insiders document and report corruption to the appropriate authorities.
US Government Secretly Cracking Down On Crypto? Signs Are Evident
The crypto industry is facing increased regulatory pressure since the beginning of the year, which has sparked discussion on Twitter about whether the U.S. government is secretly trying to crack down on the entire industry.
The latest piece of the theory’s puzzle comes from Coinbase CEO Brian Armstrong. Writing via Twitter a few hours ago, Armstrong said he had heard rumors that the U.S. Securities and Exchange Commission (SEC) wants to ban retail staking in the United States.
Jake Chervinsky, chief policy officer at the Blockchain Association, confirmed the rumor. “I’ve heard the same rumor and strongly agree with Brian that an attack on staking would be an extreme error in US policy,” the attorney said.
UK Government Pursues Digital Pound While Bank CEOs Restrict Bitcoin Access
The UK continues to show its desire for a digital pound, just as its companies try to limit access to Bitcoin.
The Bank of England and the UK Treasury have released a consultation paper outlining their case for a retail central bank digital currency (CBDC) or “digital pound.” The paper has been reviewed by the Bank-Treasury CBDC Taskforce, which was established in April 2021.
The Sandbox Seals Deal With Saudi Arabian Digital Government Authority
Metaverse momentum has found new life. The Sandbox has signed an initial partnership deal with Saudia Arabia’s Digital Government Authority (DGA) around a yet-to-be-determined scope.
2022 brought a damper to major metaverse momentum that was built throughout 2021, as bear market conditions took over. However, the first 30 days of 2023 have started off strong, and there a number of once-active crypto niches that are finding fresh life.
The Sandbox Sees New Life
Australian Government Releases First Steps To Regulate Crypto And Bitcoin
The first steps of a multi-stage plan to regulate the cryptocurrency industry within Australia have been released.
The Australian government has announced the first step of what it calls a multi-stage approach to tackling cryptocurrency regulation.
According to the announcement, “the multi‑stage approach has three elements: strengthening enforcement, bolstering consumer protection; and establishing a framework for reform.”
The first step begins with the Australian Securities & Investments Commission (ASIC) increasing the size of its crypto team and “upping enforcement measures.” These enforcement measures described include taking legal action when cryptocurrencies are marketed without appropriate financial licenses. In addition, the report describes that particular attention will be paid to making sure risks are properly disclosed to consumers.
Indonesian Government To Launch A New Cryptocurrency Exchange
The Indonesian Financial sector is undergoing a comprehensive reform that extends to the cryptocurrency industry. As part of the reforms, crypto assets trading oversight will be handed over to the Financial Services Authority (FSA).
The Commodity Futures Trading Regulatory Agency (Bappebti) in Indonesia has been in charge of cryptocurrency trading control. However, according to reports, the FSA will take over from Bappebti after the crypto exchange launch sometime this year.
Acting chairman of Bappebti, Didid Noordiatmoko, said the FSA would oversee the regulation of cryptocurrency assets over the next two years. Bappebti is currently evaluating additional 151 assets and Ten (10) local coins. Meanwhile, 383 cryptocurrencies and 10 local coins are already being traded in Indonesia.
How The Government Could Come For Your Bitcoin
What does the path to hyperbitcoinization look like when governments worldwide start to notice their citizens adopting bitcoin?
This is an opinion editorial by Robert Hall, a content creator and small business owner.
The popular thought among Bitcoiners is that bitcoin adoption will be a seamless transition to a bitcoin standard. While I wish this were the case, governments will not give up their power to print money and control the economic affairs of what they consider to be their slaves without a fight.
Bond Market Meltdown: Where Are The Buyers For Government Debt?
Central banks are trying to keep yields from exploding higher while they hike rates to fight inflation. Who will step in to buy bonds in current conditions?
The below is an excerpt from a recent edition of Bitcoin Magazine Pro, Bitcoin Magazine's premium markets newsletter. To be among the first to receive these insights and other on-chain bitcoin market analysis straight to your inbox, subscribe now.
Indian Government Raids Director of Binance-Owned Crypto Exchange WazirX, Freezes $8.14M
The Directorate of Enforcement (ED) has seized bank assets belonging to crypto exchange WazirX in light of a government probe.
CoinDesk
Can Government Regulation Incentivize Bitcoin Mining With Renewable Energy?
The Responsible Financial Innovation Act offers clarity around Bitcoin-related terms and could incentivize bitcoin mining with renewable energy.
Listen To The Episode Here:
In this week’s episode of “Bitcoin Bottom Line,” hosts C.J. Wilson and Josh Olszewicz are discussing the latest in the Bitcoin space and the bipartisan Responsible Financial Innovation Act.
Indian Government Unveils Draft Crypto Bill Ahead of Supreme Court Hearing
The Indian government has officially released the report by the interministerial committee tasked with proposing crypto measures. The announcement came one day before the country’s supreme court was scheduled to hear the writ petitions against the crypto banking restriction. The report contains the draft bill which proposes a ban on cryptocurrency.
Also read: G20 Leaders Issue Declaration on Crypto Assets – A Look at Their Commitments
Draft Bill Now Public, Supreme Court Hearing Delayed
The Indian supreme court was scheduled to hear the crypto case on July 23. It was expected to address the banking restriction by the central bank, the Reserve Bank of India (RBI). However, the case was not heard by the court on Tuesday.
Circle Expands to Bermuda, Praises Pro-Crypto Island Government
Circle announced today that it will be expanding its regulated services to Bermuda, using its new position in the island nation to service its global audience. Circle cited Bermuda’s pro-crypto regulatory environment as a primary motivation for expanding to the island nation. According to the announcement: “While many governments around the world have not kept […]
The post Circle Expands to Bermuda, Praises Pro-Crypto Island Government appeared first on CCN Markets
Indian Government Breaks Silence on Crypto Regulation
The Indian government has finally spoken up about the regulatory framework for cryptocurrency it has been deliberating, providing answers to questions presented in the upper house of the Parliament of India. The government also confirmed that the report with the recommended crypto regulation has already been submitted by the interministerial committee tasked with drafting the regulation.
Also read: G20 Leaders Issue Declaration on Crypto Assets – A Look at Their Commitments
Crypto Not Prohibited in India
At a sitting on July 16 of the Rajya Sabha, the upper house of the Indian Parliament, five questions were directed at the Minister of Finance by Parliament member Shri Dharmapuri Srinivas regarding the “Prohibition of cryptocurrency” in India.
Flowery V20 Talk and Government Terror: Why Darknet Crime Is the Least of Our Worries
Governments and central banking regulatory bodies continue to express concern about crypto being used for criminal purposes and terror. The terror campaigns of these very same governments continue unabated, however. In the wake of the V20 summit it might seem that lawmakers actually care about stopping darknet crime, money laundering, and other abuses facilitated by the anonymity crypto provides. What is really happening is the large-scale degradation of language, coupled with a gross misrepresentation of what actually constitutes the most pressing threat to the world, in finance and elsewhere: the state.
Also read: Ross Ulbricht Letter Questions the Wisdom of Imprisoning Non-Violent Offenders
What a bit! US Government VS Cryptonites
With the rise of cryptocurrency, it makes sense bitcoin investors are in the crosshairs of not one but two government agencies, DOJ and IRS. Let’s watch my take on this Make sure to subscribe CCNMarkets on Youtube: https://bit.ly/2Kvn6xn
The post What a bit! US Government VS Cryptonites appeared first on CCN Markets
Indian Government Shed Light on Proposed Crypto Regulation
Since leaked information regarding India’s cryptocurrency bill emerged, there have been constant discussions about what it entails. Four different government bodies have been asked about their involvement in the drafting of the bill. South Korea went through a similar situation, causing confusion to the public.
Also read: Indian Cryptocurrency Regulation Is Ready, Official Confirms
RTIs Filed Seeking Answers
Since local media started reporting on the leaked information of India’s unannounced cryptocurrency bill, numerous discussions have ensued over what it entails.
John McAfee Pledges to Expose Corruption in the US Government
By CCN Markets: In a somewhat bizarre video tweet around lunch on Friday, cryptocurrency aficionado and repetitive presidential candidate John McAfee said he’s launching a website dedicated to exposing corruption in the U.S. government. This will perhaps be McAfee’s second-most important launch of recent times, having recently unveiled a cryptocurrency exchange. Corruption within the American Government pic.twitter.com/VyWIpqKKbm — John McAfee (@officialmcafee) June 14, 2019 Crazy McAfee Doing Some Public Good McAfee is an outlandish personality anywhere he is, which is either a defect or a point of admiration depending on where you stand. In either case, most people wouldn’t want
Indian Government in Dizzying Reversal Sponsors Free Crypto Course
By CCN Markets: The Indian government continues to project a deep level of hypocrisy as it turns its attention to sponsoring a blockchain and cryptocurrency course. As CCN recently reported, the government is simultaneously proposing an insane anti-crypto bill with hard jail-time for bitcoin users. The undergraduate course, which is entitled Blockchain Architecture Design and Use Cases, is completely free unless you want a relatively inexpensive certificate. Cryptocurrency is hugely popular in India, and the government’s indecision on the blockchain is no doubt leaving many local enthusiasts confused. Building on Closed Blockchains? SWAYAM, or Study Webs of Active Learning for
Australian Government Publishes Update on Cryptocurrency and ICO Rules
The Australian Securities and Investments Commission (ASIC) has published an update on how it intends to regulate crypto-related businesses and initial coin offerings (ICOs).
In this guideline, the financial regulator outlines requirements that need to be followed for cryptocurrency businesses to be compliant with the ASIC Act.
This update is noteworthy as the country continues to battle crypto scams, losing almost $ 4.3 million in 2018.
Going forward, companies issuing crypto assets deemed to be financial products will be required by law to procure an Australian Financial Services (AFS) license. On the flipside, for crypto assets which aren’t financial products, promoters must ensure that they don’t engage in any form of deceptive advertising.
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