Cryptocurrency Analysis and News Portal
Canada’s Office of the Superintendent of Financial Institutions (OSFI) has opened a consultation period on crypto asset disclosure requirements for federally regulated financial institutions (FRFIs). The consultation was foreseen in the 2023 federal budget, but its timing is tied to a similar enquiry initiated by the Bank for International Settlements
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Decentralized crypto exchange dYdX has disclosed new measures to mitigate trading-related risks after burning $9 million of its insurance fund on Nov. 17 to cover users’ losses.According to an announcement on X (formerly Twitter), the exchange increased margin requirements on several “less liquid markets,” affecting tokens such as Eos (EOS),
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Seven members of the United States Senate have called on the Treasury Department and Internal Revenue Service (IRS) to advance a rule imposing certain tax reporting requirements for crypto brokers “as swiftly as possible”.In an Oct. 10 letter to Treasury Secretary Janet Yellen and IRS Commissioner Daniel Werfel, a group
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The fallout from the banking crisis earlier this year continues as the Basel Committee on Banking Supervision considers requiring banks to disclose their crypto asset holdings. The committee, which operates under the aegis of the Bank for International Settlements, identified holding crypto as one of the factors that led to
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July's ruling did not "present a controlling question of law," and neither did the SEC's motion for an appeal, Ripple said in Friday's filing, which added that the regulator hasn't proven that different judges might disagree with the ruling, or that an appeal would lead to a faster end for
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From Sept. 1, new customers will have to complete level 1 KYC verification, which involves submitting an identity document like a passport and completing facial authentication. Existing customers have until Oct. 1 to complete the process, after which time they will only be able to withdraw, cancel orders or close
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Seychelles-based cryptocurrency derivatives exchange Bitget is updating its Know Your Customer (KYC) requirements for users to stay in step with global regulatory guidelines. According to the company, the new KYC requirements are being instituted to protect user rights and interests, shape a secure cryptocurrency trading environment and comply with regulatory recommendations
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The California Fair Political Practices Commission (FPPC) has updated its campaign disclosure manuals, with revisions including detailed rules for cryptocurrency contributions declarations.An agenda released for an upcoming commission meeting includes a discussion of updated campaign disclosure manuals, which have been reworked to reflect recent changes to legislation and commission regulations.The updates
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Modified provisions of the AMF General Regulation for digital asset service providers cover "security and internal control systems, systems for managing conflicts of interest, clear, accurate and non-misleading information, public pricing policies, specific custody provisions (segregation of client assets vs. own assets)," and bans firms from using client assets without
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The regulator, which is in charge of maintaining a registry of crypto firms approved for operations under the country's anti-money laundering requirements, will also consult on prudential rules for companies engaged in crypto activities once the "Treasury and Parliament bring those activities under our regulation," the regulator said in its
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