Regulation

Paolo Savona, the chairman of the Commissione Nazionale per le Società e la Borsa (Consob) — Italy’s securities regulator — has raised alarms over crypto’s growing popularity in the absence of firm regulatory standards. According to Reuters, Savona made this position known while delivering Consob’s annual report on Monday stating that the lack of clear-cut

Despite El Salvador’s recently passed law mandating Bitcoin as legal tender, local remittance firms are reportedly hesitant to adopt BTC. Speaking to Reuters, Autonomous Research fintech analyst, Kenneth Suchoski, argued that remittance firms are unlikely to launch support for Bitcoin and other crypto assets until prompted to do so by customer demand, likely creating a

The United States Internal Revenue Service classifies crypto as property, meaning you can trigger taxes every time you use crypto to buy something. You might be using it to pay for a Tesla electric vehicle — oh, sorry, that’s not possible anymore — a cup of coffee or even a castle in Europe. You might

From QR code payments to mobile banking apps, consumers worldwide are increasingly reliant on digital payment solutions, especially as mobile technology becomes more ubiquitous. Government-led efforts in driving cashless economies have been a key factor, with countries such as Singapore or the Philippines seeing their central banks driving the adoption of contactless payments during the

After debating the issue for over eight years, the secretary-general of the Organization for Economic Cooperation and Development (OECD), Mathias Cormann, welcomed a historic international agreement by G-7 finance ministers from the United States, Japan, the United Kingdom, Germany, France, Italy and Canada on key elements of global tax reform designed to address the tax

Cryptocurrency is becoming increasingly mainstream. Between the entrance en masse of traditional financial institutions — from investment funds, to banks, to insurance companies — to the multitrillion-dollar market capitalization, crypto is truly unignorable.  As such, it is also increasingly on the radar of regulators around the world, particularly in the United States. How can this

The cryptocurrency space and wider economic community continue to laud a historic move by El Salvador to recognize Bitcoin as legal tender. The Central American country has become the first in the world to do so, and the move has also spurred a handful of other Central and South American countries to begin taking steps

A bill which would have required miners in New York to halt operations for three years as part of an apparent effort to slow the environmental impact of crypto has been defeated in the state legislature. New York Senate Bill 6486 failed to pass the state assembly today after lawmakers in the Democrat-controlled state senate

Thailand’s Securities and Exchange Commission has approved guidelines prohibiting crypto exchanges in the country from supporting four different types of tokens in certain cases. In a Friday announcement from the Thai SEC, the regulatory body said that secretary-general Ruenvadee Suwanmongkol had approved crypto exchange guidelines, notification 18/2564 on “Rules, Conditions and Procedures for Undertaking Digital

BlockFi CEO Zac Prince agrees with United States Senator Elizabeth Warren that there is a lot of noise in the crypto industry. Still, he expects that the clarity that comes with regulations will positively impact the ecosystem.  Describing regulators’ interest in the crypto as a natural evolution of the technology, Prince said that discussions like

The U.S. Securities and Exchange Commision (SEC) has warned investors about the risks of Bitcoin futures trading — citing market volatility, a lack of regulation and fraud to name a few issues. In a June 10 Investor Alerts bulletin, the SEC outlines key points that investors should “carefully consider” before investing in a fund that

The International Monetary Fund has said El Salvador’s recent decision to make Bitcoin legal tender in the country may raise legal and financial concerns. In a Thursday press briefing from the International Monetary Fund, or IMF, spokesperson Gerry Rice said the group was already in discussions with lawmakers in El Salvador over a loan to

The Basel Committee on Banking Supervision (BCBS), a global committee of banking supervisors and central banks, has proposed new requirements for banks that want to hold cryptocurrencies like Bitcoin (BTC). In a consultation paper published Thursday, the committee provided preliminary proposals for the prudential treatment of crypto exposure by banks. The paper built on the

JBS USA Holdings Inc. has paid an $11 million ransom in Bitcoin to cybercriminals as new details emerge over the FBI’s recovery of assets from a previous heist. The payment, estimated to be more than 300 BTC at current prices, was made to shield JBS factories from further disruption. The firm is the world’s largest

Iran is looking for ways to introduce a legal framework for cryptocurrencies while Bitcoin (BTC) mining remains under embargo in the country.  During the Cabinet’s Economic Coordination Board meeting on Tuesday, Iranian President Hassan Rouhani emphasized the need to legalize cryptocurrency activities to preserve and protect national interests. Rouhani said the country must pay attention

Hester Peirce of the United States Securities and Exchange Commission has once again urged regulators to take a step back from attempting to overregulate the crypto space. Speaking to Financial Times, Peirce, affectionately dubbed “Crypto Mom” due to her positive stance on cryptocurrencies, argued against the need for strict regulatory policies. According to Peirce, regulators by