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Specifically, a16z’s consumer protections proposal, filed in response to a call from U.S. Sen. Pat Toomey (R-Pa.) of the Senate Banking Committee, recommended creating a simple disclosure-based supervision regime under the Consumer Financial Protection Act. DAOs, meanwhile, are to be given similar legal rights to that of a standard incorporated
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North Carolina House Representative Patrick McHenry has proposed a bill which would amend one of the laws governing the Securities and Exchange Commission to provide a safe harbor for certain token projects.In a draft of the “Clarity for Digital Tokens Act of 2021” provided by the House Committee on Financial
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French multinational investment bank and financial services company, Societe Generale, has proposed to leverage the decentralized finance (defi) protocol Makerdao. The proposal dubbed “Security Tokens Refinancing” was published on October 1 to Makerdao’s forums and the submission aims to utilize the DAI stablecoin to refinance a covered bond concept. Societe Generale
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One of France’s leading banks has turned to decentralized finance pioneer MakerDAO to propose the submission of bond tokens as collateral for a loan of the DAI stablecoin.The historic proposal, called “Security Tokens Refinancing,” was submitted to Maker’s governance forums by the international bank on Friday. It would be the
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Nigerian lawmaker Ibrahim Obanikoro has called on Nigerian authorities to “close all domiciliary accounts for the next 12 months.” Such a move, he argues, will help to ease pressure on the naira, which has depreciated by more than 10% in the past two months. The Naira’s Continuing Depreciation The call by Obanikoro
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A senior executive for Hong Kong’s Securities and Futures Commission, or SFC, believes more needs to be done to tackle cryptocurrency fraud, offering clues about future guidance on digital asset trading in the special administrative region. Deputy chief executive Liang Fengyi said the SFC is obligated to expand the scope of
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Slovenia, though small, is one of the fastest-growing nations in Europe, especially in the business and economic contexts. After its successful economic succession from Yugoslavia, it was the first to join the European Union in 2004 and is the wealthiest Slavic nation, as measured by per capita GDP. Crypto adoption
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According to local media reports, the Financial Administration of the Republic of Slovenia, or FURS, is considering imposing a 10% taxable income bill on cryptocurrency asset activity in the near future.Under the current legislation method, the authority analyses an individual's digital asset activity on a case-by-case basis by trawling through
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The Securities and Exchange Commission (SEC) of Thailand continues introducing new regulations for the cryptocurrency industry, citing investor protection concerns.On Wednesday, the Thai SEC proposed a set of additional regulations related to custody of investors' cryptocurrency holdings held by digital asset business operators. The newly proposed rules refer to custody of
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The regulator noose continues to tighten around stablecoins. New Bill Seeks Complete Control Over Fiat-Pegged Stablecoins A new bill floated by U.S. House Democrat Don Beyer of Virginia seeks to establish a thorough and far-reaching regulatory framework around dollar-pegged stablecoins. Dubbed “The Digital Asset Market Structure and Investor Protection Act of 2021”, the
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