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“As such, we recommend that, as a matter of priority, the Government sets up a multi-disciplinary project to formulate and put in place a bespoke statutory legal framework that better and more clearly facilitates the entering into, operation and enforcement” of certain crypto collateral arrangements, the commission said. Source
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The proposed bill covers the possible risks associated with creating and using AI. It intends to protect users from potential harm arising from using them freely without regulations. Some lawmakers from the Democratic and Republican groups are proposing a bill to form a commission that will oversee the country’s approach to
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The letter, signed by companies such as Fujitsu, Ledger and Ripple and lobbying organizations the European Crypto Initiative and Blockchain for Europe, says that the law would jeopardize smart contracts written on blockchains such as Ethereum, Avalanche, Cardano, NEAR and Polkadot, potentially conflict with recently agreed Markets in Crypto Assets
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Instead of accepting or acknowledging the license return, the commission insists that BlockFi undergo administrative proceedings. The bankrupt crypto exchange was left with no option but to sue Jorge Perez, the Connecticut banking commissioner. BlockFi’s attempts to return its Connecticut money transmitter license have been futile, as the state regulator has
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In December 2022, former Brazilian President Jair Bolsonaro approved a crypto regulation bill that was passed by Brazil’s Chamber of Deputies and the Senate. The law created a “virtual service provider” license and established a crime of fraud involving virtual assets, with a penalty of between four and six years
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Nigeria's order follows a lawsuit by the U.S. securities watchdog last Monday against the largest global crypto exchange by market capitalization, alleging it failed to register as a broker or exchange, and that it sold offered unregistered securities the general public. Source
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In a July 2022 blog, the Commission’s Assistant Director of Policy Sam Jackson said that crypto could become a “more mainstream route to investing, trading, and moving assets,” citing fundraising successes using digital assets in Ukraine, and the U.K.’s own goal to become a crypto hub. Original Source
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“Other countries are starting to recognize the opportunity and are springing into action,” said Perkins in an interview. “CoinFund just sent a team to Hong Kong," he continued. "It's buzzing right now. Government officials are actually going to conferences and encouraging adoption at this point in Hong Kong as they
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The agency authorized the regulation of a futures contract based on a bitcoin index of Matba Rofex, an Argentinian stock exchange. Source
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Taiwan’s Financial Supervisory Commission is set to be announced as the body that will oversee and regulate the virtual asset industry. According to a report, the collapse of crypto exchanges like FTX prompted Taiwanese officials to seek ways of protecting users against similar events should they recur. Virtual Asset Industry’s
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