Cryptocurrency Analysis and News Portal
“These technological advancements, with their accompanying risks, necessitate the commission revisiting our regulatory oversight, including our risk management requirements,” Goldsmith Romero said. “Integration of digital assets with banks and brokers, and the risks that could be posed, could continue to evolve.” Source
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“The launch of this stablecoin represents a major stride forward in our mission to provide a secure and efficient digital currency that can be seamlessly integrated into everyday transactions,” Vincent Chok, CEO of First Digital, said in a release. Original Source
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MiCA will enter into force in a few weeks after being published in the EU’s official journal, which is likely in June. Its provisions – offering crypto exchanges and wallet providers a license to operate across the 27-nation bloc, and requiring stablecoin issuers to hold appropriate reserves – will take
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Under new rules from the Central Bank of the United Arab Emirates (CBUAE), licensed financial institutions (LFIs) would be required to verify the identities of all customers. The update will come into effect “within a month” by the end of June. On May 31, the CBUAE published guidance for LFIs on
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Hong Kong and the United Arab Emirates' (UAE) central banks are looking to collaborate on cryptocurrency regulations and financial technology development.On May 30, the Hong Kong Monetary Authority (HKMA) said it met with its counterparts at the Central Bank of the United Arab Emirates (CBUAE) with the two agreeing to
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The EU’s Markets in Crypto Assets regulation (MiCA) is set to bring MiFID-style rules to the sector, but the regime will only take effect in around 18 months. In the meantime, ESMA, a Paris-based agency that groups and coordinates national regulators, is worried some companies are encouraging and exploiting the
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French lawmakers have agreed to tone down the restrictions on a bill first proposed in March that would have severely restricted locally-registered cryptocurrency companies from using influencer marketing.An earlier draft of the bill allowed only licensed crypto companies to engage in influencer marketing. However, while crypto companies are currently required
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A major global securities watchdog, the International Organization of Securities Commissions (IOSCO), is working to help policymakers regulate cryptocurrency more effectively.IOSCO on May 23 released a set of crypto-related regulatory recommendations as part of a consultation report developed by the IOSCO Board’s Fintech Task Force.The report includes 18 policy recommendations
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Under the rules, crypto exchanges are to maintain at all times no less than 5,000,000 Hong Kong dollars ($640,00) in capital, and at the end of each month, submit the platform's available and required liquid capital, a summary of bank loans, advances, credit facilities as well as a profit and
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Brad Garlinghouse said that many other jurisdictions have done a better job than the US in providing clarity to crypto players. During his recent interview with CNBC, Ripple CEO Brad Garlinghouse stated that more and more crypto firms are likely to leave the US amid “confusing” regulations. As a result,
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