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On Friday, credit rating agency Fitch published a research piece about Russia's proposed ban on cryptocurrencies. Although the report agreed with the Central Bank of Russia's (CBR) position that the ban would limit its financial system's exposure to risks, it also cautioned that such a proposal could "hold back the
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The central bank’s push for a restrictive policy regarding cryptocurrencies is not gaining support among members of the Russian government, legislature, or law enforcement. A blanket crypto ban, as proposed by the bank, would make a laughingstock of Russia, lawmakers have warned. Bank of Russia’s Hardline Stance on Crypto Rejected by
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On Thursday, Russia's central bank suggested that lawmakers need to implement regulations to effectively ban domestic crypto-related activities. The bank made it clear, however, that is not suggesting banning ownership of crypto by private citizens. Instead, the proposal targets Russian institutional investors, financial infrastructure providers and other organizations that could
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Reddit has confidentially submitted a draft registration statement with the Securities and Exchange Commission (SEC) for a proposed initial public offering of its common stock, the company announced on Twitter.The numbers of shares to be offered and the price range for the proposed offering have yet to be determined, the
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Authorities need to expand the regulatory framework for cryptocurrency miners, a member of the parliament in Kazakhstan has suggested. The additional rules should streamline their activities and help correct the forming public opinion that they are responsible for the country’s electricity deficit. Crypto Mining in Kazakhstan Needs Additional Regulations, Lawmaker
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With crypto regulation reportedly set to ramp up in Australia over the next 12 months, Kraken Australia’s Managing Director Jonathon Miller thinks that a strict crypto regime could stifle local competition. The Senate Committee on Australia as a Technology and Financial Center, led by crypto-friendly Senator Andrew Bragg tabled 12
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In Tuesday’s statement, the Basel Committee said its members had reiterated the importance of “developing a conservative risk-based global minimum standard” to manage risks to the banking system from crypto assets that is consistent with the general principles laid out in its previous consultation. Original Source
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France’s markets regulator has warned of the risk of fraud associated with a recently proposed initial coin offering (ICO).The Autorité des Marchés Financiers (AMF) announced Thursday that it had been contacted by a company, Air Next, requesting a “visa” for a proposed ICO.While issuers aren’t required to apply for an
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A forum of some of the U.S. and Europe’s biggest banks have opposed the rules proposed by the world’s central banks and regulators for capital requirements on bitcoin exposure.The Global Financial Market Association (GFMA), made up of such institutions as JPMorgan and Deutsche Bank, as well as several other industry
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