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India’s Central Bank RBI Reiterates ‘Serious Concerns’ About Crypto — Governor Doubts Reports on Indian Crypto Investors – Regulation Bitcoin News

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India’s central bank, the Reserve Bank of India (RBI), still has “serious concerns” about cryptocurrency from a macroeconomic and financial stability standpoint. Furthermore, RBI Governor Shaktikanta Das says he doubts the veracity of the number of Indian crypto investors reported by the media. RBI Has Serious Concerns About Crypto, Governor Doubts

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Indonesia’s Islamic Authority Declares Cryptocurrency Haram, Forbidden for Muslims – Regulation Bitcoin News

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Indonesia’s top Islamic body, the country’s authority on Shariah compliance, has reportedly declared cryptocurrency haram, forbidden for Muslims under Islamic law. The Indonesian Ulema Council explained that crypto has elements of uncertainty, wagering, and harm. Cryptocurrency Is Forbidden for Muslims Under Islamic Law in Indonesia Indonesia’s Ulema Council (Majelis Ulama Indonesia or

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US Treasury Sanctions 2nd Cryptocurrency Exchange, Seizes $6.1 Million – Regulation Bitcoin News

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The U.S. Treasury Department has sanctioned a second cryptocurrency exchange “for facilitating financial transactions for ransomware actors.” Two ransomware operators have also been sanctioned and $6.1 million in funds were seized. US Treasury Sanctions Another Cryptocurrency Exchange The U.S. Department of the Treasury announced Monday that its Office of Foreign Assets Control

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Kazakhstan Senate Adopts Legislation Subjecting Crypto Platforms to Financial Monitoring – Regulation Bitcoin News

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The Senate in Kazakhstan has approved amendments aimed at preventing the legalization of illicit funds which will affect companies dealing with digital assets, among others. The new legislation subjects crypto service providers to the country’s financial monitoring regime. Senators Back Law Concerning Crypto Services in Kazakhstan Members of the upper house

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China’s Digital Currency Used in Transactions Worth $10 Billion, 140 Million People Have Digital Yuan Wallets – Regulation Bitcoin News

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China’s central bank digital currency (CBDC), the digital yuan, has been used in transactions worth nearly $10 billion, according to an official with the Chinese central bank, the People’s Bank of China (PBOC). In addition, the government digital wallet has been downloaded by about 140 million people. Digital Yuan’s Adoption Rises,

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More crypto regulation is needed

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In remarks given at the American Fintech Council’s 2021 Policy Summit, acting Comptroller of the Currency Michael J. Hsu called for greater regulation of universal crypto firms.“Large, universal crypto firms—especially issuers of highly-circulated stablecoins—should embrace comprehensive, consolidated supervision. At the same time, federal and state bank regulators should prioritize the

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Kazakhstan Imposes Purchase Limits on Retail Crypto Investors – Regulation Bitcoin News

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Authorities in Kazakhstan have introduced restrictions on the amounts of cryptocurrency retail investors can buy on local exchanges. Officials explained the decision citing the need to protect private individuals from exposure to the risks associated with digital financial assets. Investors in Kazakhstan Can Buy up to $1,000 in Crypto a

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US Lawmakers Urge SEC to Permit Trading of Bitcoin Spot ETFs – Regulation Bitcoin News

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U.S. lawmakers have called on the Securities and Exchange Commission (SEC) to approve bitcoin spot exchange-traded funds (ETFs). Since the SEC has approved the trading of bitcoin futures ETFs, the lawmakers said it “should no longer have concerns with bitcoin spot ETFs and should show a similar willingness to permit

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US Senator Proposes Congress Adopt Cryptocurrency for Payments – Regulation Bitcoin News

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U.S. Senator Ted Cruz has introduced a resolution that would position Congress to lead in the area of cryptocurrency by having congressional cafeterias, vending machines, and gift shops accept crypto payments. “Congress is typically slow to adopt new technology,” he said. Senator Pushes for Crypto Adoption in Congress U.S. Senator Ted Cruz

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Hawkish Fed comments and fears of stablecoin regulation spark market sell-off

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The bullish optimism seen earlier in the week was dialed back on Nov. 4 after recent comments from U.S. Federal Reserve Chairman Jerome Powell confirmed that the central bank would soon start to taper its monetary policy of easing and bond buying. These statements appear to have kicked off a series

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