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Slovakia will codify the right to use cash as a method of payment after a vote to amend the nation’s constitution passed in parliament on June 15. The new legislation was sponsored by the Sme Rodina party, also known as the “We Are Family” party, and was reportedly drafted as a
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Senior Judge Jed Rakoff, of the U.S. District Court for the Southern District of New York, questioned whether there was a major questions issue, saying Congress intended to give the SEC broad regulatory authority when drafting the laws overseeing the agency. Original Source
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However, DeFi protocols “intuitively possess none of the defining hallmarks of stock exchanges,” according to the DeFi Education Fund’s letter. “Beyond DeFi, the commission’s proposal has no logical limit and would sweep third-party and utility service providers who contract with exchange providers into the exchange regulatory regime.” Source
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Kevin O’Leary said the Securities and Exchange Commission levied some “serious” allegations in the 136-page charging document the agency issued against Binance on June 5, telling Cointelegraph in an interview that he believes founder and CEO Changpeng Zhao is in a “tough” spot.O’Leary, a venture capitalist and CNBC personality known
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The exchange has set notification requirements for receiving and sending crypto to TRUST-compliant platforms in a list of 21 countries, which includes Japan, Israel, Gibraltar, Hong Kong, the Bahamas and Switzerland. BitFlyer further restricts transfers to complaint platforms in these countries to TRUST-compatible crypto assets such as bitcoin (BTC), ether
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Japan's crypto industry has been grappling with the travel rule since 2021 when Japan’s Financial Services Agency (FSA) requested virtual asset services providers to implement it. In April 2022, Japan's Virtual Currency Exchange Association (JVCEA) introduced self-regulatory rules accordingly. In October last year, Japan's government approved a cabinet decision to
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In 2003, the SEC amended the rule to keep up with technological advances in capital markets infrastructure, which have made virtually every aspect of the advisory industry more efficient. The modernized rule, which better defined custody and essentially removed any assumption of paper assets, has been serving advisors and clients
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"Around the globe, countries have made progress in implementing most of the standards; however, progress on implementing FATF’s updated requirements on crypto assets has been relatively poor," Kumar said, adding that 73% of countries are still "non-compliant or only partially compliant" with the watchdog's standards. Source
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The G7 committee recently met in Niigata, Japan, to discuss, among other topics, the global financial implications for central bank digital currencies (CBDCs) and the laws governing the transfer of cryptocurrency assets.In a communique summarizing the discussions, the committee reiterated its support for developing CBDCs with the caveat that further
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Last week was harsh for the United States Securities Exchange Commission (SEC), with industry figures and officials publicly criticizing the regulator. May 8 was the deadline for feedback on the SEC’s proposed custody rule, and there was feedback aplenty. Andreessen Horowitz’s general counsel Miles Jennings called the proposal a “misguided and
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