Why Real Regulatory Change In Crypto Has Not Happened
Legislators need to educate themselves on Web3 if they care about protecting consumers, Steven Eisenhauer, chief risk and compliance officer at Ramp, writes. Original Source
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Regulatory
Traditional Banks Set to Dominate Crypto Stablecoin Market as Regulatory Certainty Grows
Algorithmic stablecoins use self-regulating mechanisms to keep their private stablecoins pegged to another currency, a system that has had a rocky history. Typically, on-chain collateral consists of cryptocurrencies like BTC or ETH, fiat-backed stablecoins like USDC or USDT and a few nascent traditional financial assets brought on-chain (for example, there
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UK's FCA Flagged Some Crypto Firms Seeking Regulatory Approval to Law Enforcement
Some of those investigations into financial crime or "direct links to organized crime" are ongoing, an official at the Financial Conduct Authority said. Source
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UK’s FCA hints at why its given only 15% of crypto firms the regulatory nod
Despite the plans to turn the region into a bustling crypto hub, the United Kingdom’s financial watchdog says it has given the all-clear to only 41 out of 300 crypto firm applications seeking regulatory approval to date.The U.K. Financial Conduct Authority (FCA) implemented the new cryptocurrency-focused regulations on Jan. 10,
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Crypto lawyers to be in demand as regulatory pressure reaches boiling point
Crypto-versed lawyers will play an increasingly important role in Web3 firms — particularly after the implosion of FTX and the industry braces for regulatory turbulence, two legal academics believe.Boston Law School professor and chief compliance officer at crypto exchange Bitstamp, Thomas Hook, told Cointelegraph that Web3 lawyers will soon become “business
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Indonesia Regulatory Switch Could See Crypto Classed as Securities, Not Commodities
The government says regulatory changeover will take two years, said Jay Jayawijayaningtiyas, country manager for crypto exchange Luno Indonesia, adding that it’s too early to speculate how the assets will be regulated by the new authority. Luno is owned by CoinDesk’s parent company DCG, and is a member of the
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Singapore Regulator Advocates ‘One Regulatory System’ for Crypto and Traditional Finance – Regulation Bitcoin News
Singapore’s senior minister and the chairman of the central bank, the Monetary Authority of Singapore (MAS), says there should be just “one regulatory system” for both crypto and traditional finance. In addition, he stressed that regulators should provide “ultra clarity as to what’s an unregulated market,” so investors are aware
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IMF Division Chief and Deputy Managing Director Call for Swift Regulatory Action to Avoid Crypto Contagion to Legacy Finance – Regulation Bitcoin News
An International Monetary Fund (IMF) division chief and deputy managing director are calling for more action to be taken in the regulatory aspect to avoid crypto’s ups and downs affecting banks and traditional financial institutions. Nobuyasu Sugimoto, deputy division chief of the financial supervision and regulation division of the IMF,
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Digital Currency Group Suspends Dividends Amid Regulatory Trouble With Subsidiary Genesis – Bitcoin News
According to a shareholders’ letter from Digital Currency Group (DCG) viewed by finance and crypto publication Coindesk, the company has suspended dividends until further notice. This news follows the U.S. Securities and Exchange Commission (SEC) charging a subsidiary firm of DCG, Genesis Global Capital, with operating an “unregistered offer and
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Regulatory Onslaught Is Just Beginning – Regulation Bitcoin News
The Securities and Exchange Commission (SEC)’s former head of internet enforcement has warned the crypto industry that a “regulatory onslaught is just beginning.” His warning followed several recent enforcement actions the securities regulator took against major crypto firms. ‘SEC Regulatory Onslaught Is Just Beginning’ Former Securities and Exchange Commission (SEC) official John
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