Cryptocurrency Analysis and News Portal
In the meantime, “banks will be required to hold a euro of own capital for every euro they hold in crypto," Markus Ferber, the economic spokesperson for the parliament's largest political grouping, said in a statement. “Such prohibitive capital requirements will help prevent instability in the crypto world from spilling
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The Swiss financial regulator has published its updated anti-money laundering (AML) ordinance, noting it’s extending the coverage to include blockchain trading platforms. It also clarified certain reporting and identification requirements that apply to crypto transactions. Financial Authorities Adjust Swiss Anti-Money Laundering Rules Concerning Crypto Transfers Following consultations that started earlier this year,
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The Swiss Financial Market Supervisory Authority, or FINMA, has announced it will be extending an anti-money laundering ordinance which requires identity checks for reporting certain crypto transactions.In a Nov. 2 notice, the Switzerland financial regulator said it would enforce a threshold of 1,000 Swiss francs — roughly $997 at the
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The back-and-forth over how “broker” will be defined, as well as the challenges of implementing a reporting regime, are likely to blame for the potential delay. However, no final decision has been made on whether the reporting requirements will be delayed or, if they are, how long the delay will
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Authorities in Uzbekistan have drafted and put forward for public consultations a set of rules for crypto miners operating in the country. Companies that want to mint digital currencies will have to register with the government and use renewable energy. Uzbekistan Discusses Draft Regulations for Crypto Mining Sector Entities involved in
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The provision in the U.S. infrastructure bill signed into law in November, which will require financial institutions and crypto brokers to report additional information, could reportedly be delayed.According to a Wednesday report from Bloomberg, the United States Department of the Treasury and Internal Revenue Service may not be willing to
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The Basel Committee on Banking Supervision met Friday and discussed cryptocurrency, among other topics. The committee stated that it would soon publish its second consultative paper with the intention of finalizing guidelines on the prudential treatment of crypto exposure by banks by year-end. In a Tuesday press release, the committee issued
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The government of Kazakhstan has laid out new reporting requirements for cryptocurrency mining operators with a keen eye on how the industry's energy usage affects the local power grid.The order published by the country’s Minister of Digital Development earlier this week compels digital mining businesses to provide comprehensive information 30
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Forty-six European crypto businesses and organizations have asked finance ministers in 27 European countries to loosen some regulatory requirements for the crypto industry. For example, they asked for decentralized finance (defi) projects to be excluded from the requirements to register as legal entities. Crypto Industry’s Letter to EU Policymakers Forty-six European crypto
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The Argentinian Tax Agency (AFIP) is watching the movements of cryptocurrency traders and holders, to tighten its control over their transactions. The institution is now sending emails to Argentinian citizens asking for a series of data regarding supposed cryptocurrency operations made in their names. The agency requires the public keys
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