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The Namibian Government officially signed a law to regulate Virtual Asset Service Providers operating in the country last week, reversing its original 2017 decision to ban cryptocurrency exchanges.On July 21, the VASP-regulating law was inserted into the Gazette of the Republic of Namibia after previously being approved in Namibia’s National
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The United States Government Accountability Office (GAO), a Congressional watchdog agency, has released a report it completed in June on the regulatory framework for the use of blockchain in finance. The 77-page report was requested by Reps. Maxine Waters and Stephen Lynch before the midterm elections, when they were the chair
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“Financial distress at one ART [asset-referenced token] or EMT [e-money token] issuer can materially increase the likelihood of distress at other issuers of crypto-assets or at other financial institutions given the network of contractual obligations in which issuers operate,” said the document, seen by CryptoX, referring to the two categories
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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied The Blockchain Association has condemned the proposed US DeFi legislation as an unworkable solution incompatible with the industry. Blockchain Association, a nonprofit organization that promotes a pro-innovation policy environment for the web3 economy, has condemned the recently
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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Senator Kennedy Jr. questioned SEC Chairman Gary Gensler’s authority and the SEC’s competency in handling crypto fraud at a Senate Committee hearing on July 19. The focus of the debate was FTX, a crypto exchange founded by
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Timothy Massad, former chair of the United States Commodity Futures Trading Commission (CFTC), has said though a Securities and Exchange Commission (SEC) v. Ripple court ruling may impact the way businesses and lawmakers address crypto, his call for regulatory clarity remains the same.In a July 7 op-ed with The Wall
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The SEC and those who support its approach are likely concerned that this no-good, very bad day becomes no-good, very bad days. A string of court losses with similar legal reasoning as yesterday’s ruling in the Ripple case would weaken anti-crypto Democrats' negotiating hand further. One takes this risk when
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On the second category of sales, programmatic sales, the Court found in Ripple’s favor, arguing that the third, “expectation of profits” prong of Howey was not met. “Ripple’s Programmatic Sales were blind bid/ask transactions,” the Court wrote, “and Programmatic Buyers could not have known if their payments of money went
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United States Sens. Cynthia Lummis and Kirsten Gillibrand will reintroduce legislation aimed at establishing a comprehensive regulatory framework for digital assets.The U.S. lawmakers said they would reintroduce the Responsible Financial Innovation Act to the Senate on July 12 after roughly a year of being tabled in the previous session of
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“Issues raised by crypto-assets and other innovations do not fall neatly within agency boundaries," said Ian Woolford, Director of Money and Cash, RBNZ. "However, issues such as consumer and investor protection or potential commercial or regulatory barriers to entry do matter ...." Source
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