A number of states in the United States, including Kentucky, Texas, Alabama, Vermont, New Jersey and, most recently, New York have been cracking down on crypto lending. Depending on one’s perspective, these can amount to acts of collective desperation or a foretoken of things to come. Asked about the clampdown on crypto lending firms like
Regulation
During an earnings call with investors and stakeholders, Michael Miebach, CEO of Mastercard, discussed his positive outlook on the cryptocurrency industry. The company has not only seen sizable volume growth in consumers using their Mastercards to purchase crypto but has also secured several partnerships with cryptocurrency firms. But Miebach’s most ambitious viewpoint emerged during a
This “Crypto City” guide looks at New York City’s crypto culture, its most notable projects and people, its financial infrastructure, which retailers accept crypto, and where you can find blockchain education courses — and there’s even a short history of the controversial regulatory regime required to operate in the city. Fast facts City: New YorkCountry:
Despite Russian officials’ increased interest in cryptocurrencies like Bitcoin (BTC), Russia’s internet ombudsman expressed confidence that local crypto regulations will remain largely prohibitive. Dmitry Marinichev, Russia’s ombudsman for the protection of entrepreneurs’ rights under Russian President Vladimir Putin, discussed Russia’s approach to cryptocurrency regulations at a panel of a major local industry event, Blockchain Life 2021,
The stablecoin market has grown exponentially over the last few months due to the numerous advantages blockchain-based versions of fiat currencies have. But, when Facebook launched its cryptocurrency wallet Novi using Paxos’ stablecoin, some United States senators were quick to oppose it. Are they concerned about user data or monetary sovereignty? The social media giant
Jelena McWilliams, the chairperson of the Federal Deposit Insurance Corporation, or FDIC, has said the agency is working with other regulators in the United States to explore “under what circumstances banks can engage in activities involving crypto assets.” In a speech at the Money20/20 fintech conference on Oct. 25, McWilliams said the FDIC, in coordination
Tether Operations Limited, the firm operating the Tether (USDT)-centric platform tether.to, announced today that it will use Notabene, an end-to-end solution for cryptocurrency Travel Rule compliance. Tether will begin testing Notabene’s cross-border transaction monitoring system for virtual asset service providers (VASPs) to combat financial crimes such as money laundering. Notabene is a new technology for
U.S. regulatory bodies have reportedly agreed that the Securities and Exchange Commission (SEC) will lead the United States’ efforts to regulate the stablecoin sector. According to an Oct. 26 Bloomberg report citing anonymous sources “familiar with the matter,” the SEC has reached an agreement with other U.S. agencies to take the reins on proposing legislation
Eight years in the making, the United States Securities and Exchange Commission’s (SEC) silent approval of a Bitcoin (BTC) exchange-traded fund (ETF) last week elicited a wave of exuberance in the crypto space and sent the price of the key digital currency to a new all-time high. Despite some analysts and industry participants having reservations
In her monthly Expert Take column, Selva Ozelli, an international tax attorney and CPA, covers the intersection between emerging technologies and sustainability, and provides the latest developments around taxes, AML/CFT regulations and legal issues affecting crypto and blockchain. Lately, news headlines are focused on regulators’ concerns over the lack of investor protections in the cryptocurrency
We ask the buidlers in the blockchain and cryptocurrency sector for their thoughts on the industry… and we throw in a few random zingers to keep them on their toes! This week, our 6 Questions go to Jennifer Wines, vice president of Fidelity Private Wealth Management. Jen grew up between Mexico, Canada and the United
On the opening day of Messari Mainnet 2021, New York City’s long-awaited first crypto conference since the start of COVID-19, reports came blazing in via a viral tweet that the United States Securities and Exchange Commission had served a subpoena to an event panelist at the top of an escalator in broad daylight. While it’s
Top-down governmental responses to innovation have always been questioned by entrepreneurs. Right now in crypto land as institutional investment flows steadily in and decentralized finance (DeFi) use cases and products have continued to flourish over the past 18 months, many crypto companies are begging for further regulatory clarity. The original Australian Senate Select Committee on
Ripple chief executive Brad Garlinghouse has been airing his thoughts over the state of the crypto market and regulations, and a grudge over the financial regulator’s approach to Ethereum appears to have surfaced. Speaking at the DC Fintech Week virtual conference on Oct. 21, the Ripple boss declared that Ethereum had been granted a regulatory
It’s been said that “Blockchain technology is not as decentralized as we think” and that critical decisions are made, not democratically, but by a small group of “agents of influence” often including founders, software developers, miners and other parties with a monetary interest in the matter. This notion is open to debate, of course, but
This weekly roundup of news from Mainland China, Taiwan, and Hong Kong attempts to curate the industry’s most important news, including influential projects, changes in the regulatory landscape, and enterprise blockchain integrations. In this 30th edition of the Shanghai Man column, we preview the Wanxiang Shanghai Blockchain Week, an offline event that normally is the
China’s National Development and Reform Commission is seeking public opinion on the inclusion of crypto mining in its list of “phased-out” industries. The call for public comments by the country’s macroeconomic planning agency was contained in a release issued on Thursday. Back on Sept. 24, the agency added virtual currency mining to its list of
After dipping below $30,000 in June, Bitcoin (BTC) went on a nearly four-month rally, appreciating by more than 100%. On Oct. 15, it was able to recapture the $60,000 level after closing the day with a 7.56% spike. The ensuing rally was attributed to the excitement around the SEC giving the green light on the
The High Court of Sindh (SHC), the highest judicial body in Pakistan’s Sindh Province, has asked the government to come up with modalities for cryptocurrency regulation. According to Pakistani English daily The Express Tribune, the SHC gave the instruction while hearing a petition brought before the court challenging the legality of the country’s 2018 crypto
A high-profile blockchain lobby group is urging United States lawmakers to adopt a “technology-neutral” approach when it comes to stablecoin regulation, arguing that dollar-pegged cryptocurrencies do not pose a system risk to the financial system. In a 17-page letter addressed to the President’s Working Group on Financial Markets, which includes regulators from the Department of
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