Cryptocurrency Analysis and News Portal
Within 11 days in March, four banks in the United States and one in Switzerland collapsed. First Republic Bank followed in May. Three of the four largest-ever U.S. bank failures occurred in those two months. It was a painful reminder that banks bear significant risks that can quickly spill over
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100-odd companies could be registered in France as the just-agreed MiCA EU crypto legislation beds in, Financial Markets Authority officials said Source
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Hong Kong has said it wants to be a crypto hub but its banks are rejecting account opening applications Original Source
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With crypto giant Coinbase seeking a license to operate in Bermuda, the country’s crypto market is buzzing with activity of more US firms showing interest. The tighter regulatory action and crackdown in the US have recently forced crypto companies operating in the country to shit their base to the crypto-friendly
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The government of China’s Fuzhou City on Friday unveiled a raft of policies to attract investment by blockchain-related companies, including rent subsidies on office space and cash awards for hitting revenue targets, hoping to bring more high-tech jobs to the city, which sits on the coast about halfway between Shanghai
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The majority of crypto companies attracted by the once favorable Estonian regulations have either abandoned or lost their licenses. According to the latest numbers released by the Baltic nation’s anti-money laundering bureau, only 100 businesses are currently authorized to provide digital-asset services. Most Estonian Licenses for Provision of Crypto-Related Services
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Almost 400 Virtual Asset Service Providers (VASPS) have voluntarily shut down or had their authorizations revoked in Estonia following the government’s recently enhanced Terrorist Financing Prevention and anti-money laundering laws (AML) that came into effect in March.The amended laws expanded the defined scope of VASPs, required firms to have legitimate links
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Regulators in the tech-friendly nation say they’ll return to business-as-usual monitoring after money laundering fears led it to take a tough line. Original Source
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Letitia James has reportedly proposed legislation that would give the New York Attorney General’s office more authority to regulate the crypto industry.In a May 5 announcement, the NY AG’s office planned to submit a bill called the Crypto Regulation, Protection, Transparency and Oversight Act, or CRPTO, in the state's 2023
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The rule will allow the Financial Conduct Authority (FCA) to regulate crypto companies under the existing promotions law, and should help safeguard consumers from misleading crypto promotions, the Treasury, the government's finance arm, tweeted in March. Source
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