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Last week, the New York State Department of Financial Services, or NYDFS, proposed changes around its state-wide BitLicense legal guidelines. Gemini, a crypto exchange calling New York home, sees the NYDFS' move as a positive.Gemini's chief compliance officer, Noah Perlman, told Cryptox:"The proposed conditional licensing framework is another step the
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Russia has long been home to a vibrant crypto retail market, yet the nation’s regulation of digital assets still lags behind. As a spate of stakeholders and disparate regulatory authorities struggles to figure out a coherent policy framework within a bureaucratic system, much of the cryptocurrency industry remains outside the realm
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Known for their regulation-friendly outlook within the crypto industry, Gemini exchange founders Tyler and Cameron Winklevoss hold a hybrid approach to privacy and government rules. The twin brothers explained in a May 22 podcast interview with Peter McCormack that crypto adoption comes a need for some degree of regulation. Cameron added:“The
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During Virtual Blockchain Week, Cointelegraph spoke with Caitlin Long — the founder and CEO of the upcoming “crypto bank” Avanti Bank & Trust as well as the driving force behind regulatory changes in the state of Wyoming for allowing financial institutions to handle both crypto assets and fiat currencies.A Wall
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Bank of China launched its first fintech innovation regulatory pilot project in Beijing last year. The bank announced plans to expand its regulatory pilot projects in six more cities and districts on April 27.The bank plans to conduct pilot projects in Shanghai, Chongqing, Shenzhen, Hebei Xiong'an New District, Hangzhou and
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The recent phenomenon of people moving their assets into crypto as a safe haven in responding to the financial crisis has drawn the attention of the academic world. Per an Oxford University Law Faculty blog post from April 17, researchers have observed that crypto trading could pose a threat to traditional
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To combat the alleged risks associated with crypto assets and their networks, Her Majesty’s Treasury, the United Kingdom’s finance and economics department, has added additional measures.The new Money Laundering Regulations, or MLRs position the U.K.’s Financial Conduct Authority (FCA) as the Anti-Money Laundering (AML) overseer for certain crypto objectives,
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EPayments Systems Ltd, a United Kingdom-authorized electronic money institution, must suspend online payment operations due to the Financial Conduct Authority’s anti-money-laundering (AML) procedures. EPayments has released a short statement on its website and has sent out emails to its customers to give a few details on the FCA’s regulatory checks.
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Democratic presidential hopeful Andrew Yang said the US needs a consistent legal framework for cryptocurrencies if it is to be a market leader.Speaking to Bloomberg on Thursday, Yang said the current regulatory situation was confusing and potentially harmful to individuals and businesses working in the space. "Right now we're stuck
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Greater regulations and enforcement can deter some crypto crimes, blockchain forensics provider Chainalysis said in a new report.Chainalysis’ 2019 Crime Report, published Wednesday, details its analysis of illicit activities last year, contrasting 2019 actions with previous years. It found that while the amount of bitcoin sent from criminal entities doubled
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