South African Government to Add Crypto Entities to ‘List of Accountable Institutions’
According to the South African government, crypto entities — or businesses whose activities include the exchange or transfer of crypto assets — are set to be included in the list of so-called accountable institutions starting Dec. 19. Businesses that convert one crypto asset to another or that conduct transactions where a crypto asset is transferred […]
Cryptocurrency Law Approved in Brazil — Green Mining Tax Exemptions and Asset Segregation Issues Left Out
A cryptocurrency law, which had been in discussion for several months, has been approved by the Chamber of Deputies in Brazil after having shed some of the changes presented by the Senate. The proposal left out two planned tax exemptions for green mining operations and the issue of segregating customer assets from company funds for […]
CFTC Chairman Rostin Behnam cites LedgerX as success story amid FTX collapse
”The customer property at LedgerX — the CFTC-regulated entity — has remained exactly where it should be, segregated and secure,” Rostin Behnam said at a hearing on FTX’s failures.This post was originally published on this site
US Treasury’s Yellen Says Crypto Doesn’t Have Adequate Regulation — Calls FTX Collapse ‘a Lehman Moment’
U.S. Treasury Secretary Janet Yellen says that the collapse of crypto exchange FTX shows that the crypto industry “really needs to have adequate regulation.” She added: “It’s a Lehman moment within crypto, and crypto is big enough that we’ve had substantial harm with investors.” Treasury Secretary Janet Yellen on FTX Implosion and the Need for […]
Sen. Warren: Biden administration worked to stop crypto being ‘dangerously intertwined’ with banks
The Massachusetts senator, an outspoken skeptic of crypto, applauded the efforts of FDIC acting chair Martin Gruenberg to separate digital assets from banking.This post was originally published on this site
Don’t believe the hype — Bitcoin price rally to $17K reflects improving sentiment
Negative newsflow continues to make headlines, but BTC’s recent move above $17,000 suggests investors are finding reasons to be bullish. This post was originally published on this site
Senate Banking Committee chair calls for coordination with Treasury on crypto
The committee chair cited crypto exchange FTX’s “alarming fraud”, liquidity crunch, and bankruptcy as an example of financial risk Treasury and regulators should address.This post was originally published on this site
ECB Blog Post Insists This Is ‘Bitcoin’s Last Stand,’ Officials Claim BTC Is Headed Toward ‘Irrelevance’
On Wednesday, Nov. 30, 2022, a blog post published by the European Central Bank (ECB) discusses bitcoin and the authors Ulrich Bindseil and Jürgen Schaaf seem to believe its “bitcoin’s last stand.” The ECB authors further say that while bitcoin’s price has consolidated and stabilized, the central bank officials remarked that “it is an artificially […]
Report: Nigerian Securities Regulator to Exclude Crypto in its Digital Asset Agenda
According to Lamido Yuguda, the director general of the Nigerian Securities and Exchange Commission, the regulator does not plan on including cryptocurrencies in its digital asset agenda. Yuguda reportedly said the commission will only change its stance on cryptos when Nigerian regulators agree on the standards to protect digital asset investors. Commission to Promote ‘Sensible […]
Crypto Exchange Kraken Settles With Treasury Department Over Sanctions Violations
Crypto exchange Kraken has settled with the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) over its apparent violations of sanctions against Iran. The cryptocurrency exchange has agreed to remit $362,159 to settle its potential civil liability and invest an additional $100,000 in certain sanctions compliance controls. Kraken Settles With OFAC The […]