Regulation

Challenges stimulate progress. Technology, pretty much like life itself, cannot be static. Only dynamics stimulate positive changes. Amid the collapse of the cryptocurrency market in mid-May, many retail and institutional investors began to lose faith in the bright future of cryptocurrencies in general and Bitcoin (BTC) in particular. Corporations and institutions, whales, and early adopters
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When it comes to China, few things are crystal clear, and the nation’s recent crackdown on crypto mining is no exception. The State Council’s Financial Stability and Development Committee reported on May 21 that it is curtailing Bitcoin (BTC) mining amid financial risk concerns, which prompted the South China Morning Post to proclaim that “China’s
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Its infamous circular directing banks to cease servicing crypto firms may have been overturned in the courts but India’s central bank is showing no signs of softening its stance towards cryptocurrencies. Reserve Bank of India Governor Shaktikanta Das reiterated the institution’s position in a recent press conference following a statement on monetary policy, stressing: “We have
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Following China’s major regulatory crackdown on cryptocurrencies, financial regulators in Hainan, the smallest province in the country, reportedly issued a warning against crypto or blockchain-themed illegal fundraising schemes. According to local reports, the Hainan branch of the People’s Bank of China, the central bank of the country, and the local financial supervision authority were among
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Ripple CEO Brad Garlinghouse and co-founder Chris Larsen, have filed a motion requesting the U.S. Securities and Exchange Commission investigate Bitfinex’s parent company, iFinex, and 14 other international crypto exchanges. The June 2 motion requests documents from exchanges including iFinex, Bitforex, Bithumb, Bitlish, BitMart, AscendEX (formerly Bitmax), Bitrue Singapore, Bitstamp, Coinbene, HitBTC, Huobi Global, Korbit,
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In a surprise move today, online advertising behemoth Google has lifted a nearly three year old policy banning cryptocurrency exchanges from using its ad services.  “Beginning August 3, advertisers offering Cryptocurrency Exchanges and Wallets targeting the United States may advertise those products and services when they meet the following requirements and are certified by Google,”
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As cryptocurrency markets grew in the first quarter of 2021, South Korean banks saw record volumes of deposits and withdrawals to local crypto exchanges. South Korean commercial banks processed 64.2 trillion won ($57.9 billion) of transactions on real-name bank accounts linked to crypto exchanges in Q1 2021, according to data from Financial Supervisory Service acquired
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Cryptocurrencies’ persistent growth and ever more mainstream adoption is keeping international monetary authorities on their toes.  In fresh comments this week, Stefan Ingves, the Governor of Riksbank, Sweden’s central bank, said that digital assets’ rising popularity raises the stakes for regulators, central bankers and lawmakers worldwide: “When something gets big enough, things like consumer interests
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Singapore-based Bybit, the world’s fifth-largest cryptocurrency derivatives exchange by trading volume, has allegedly been running unregistered crypto services in Japan, according to an official warning. The Japan Financial Services Agency issued a formal warning letter to Bybit stating that the firm is not registered to operate crypto services in the country. The warning comes in response
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India’s central bank has issued an official notice regarding local banks reportedly cautioning customers against using cryptocurrencies like Bitcoin (BTC). Published Monday, the notice points out that the Reserve Bank of India is aware of media reports that certain banks have cautioned their customers against crypto by referring to the RBI’s quashed three-year-old circular. “Such
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China’s digital yuan will utilize smart contracts, and will be built to counter Alipay-like payment platforms designed by the privately owned conglomerates, former People’s Bank of China director Yao Qian said. Speaking at the International Finance Forum in Beijing, Qian argued that simply simulating its physical counterpart would not be enough for the digital yuan
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