REGULATION
Britain Eyes Becoming a Crypto Hub, Upgrading the Market by Adopting DLT
In pursuit of becoming a global crypto hub, Britain seeks to revamp the traditional financial market using distributed ledger technology (DLT), according to the finance ministry.
Bitcoin ATM Installations Plunge in May, CoinRadar Data Shows
The ongoing ‘crypto winter’ is now reflected in the number of Bitcoin Automated Teller Machine (ATM) installations across the globe
Stablecoins to be Issued by Licensed Banks and Trust Companies in New Japanese Law
In a move to protect investors, Japan’s parliament has passed a bill classifying stablecoins as digital money that must be connected to the nation’s currency, yen, or another legal tender.
FPSB Calls for Comprehensive Regulation of Cryptocurrencies
The Financial Planning Standards Board (FPSB), a professional body tasked with granting licenses and certifications to financial planners, has proposed 11 recommendations that will help regulate the fast-growing cryptocurrency industry.
Russia’s Central Bank Makes U Turn about Crypto Usage in International Payments
As a change of tune, Russia’s central bank is relieving its previous tough stance about cryptocurrencies by allowing their usage in international payments, as reported by Reuters.
UK Finance Ministry Proposes Safety Net Measures against Stalling Stablecoins
The proposals presented by the British finance ministry are aimed to mitigate risks related to stablecoins amid the recent TerraUSD de-pegging fiasco.
Despite Risky Nature, ECB Claims Crypto Demand is Increasing
The European Central Bank (ECB) has released a new report in which it submitted that there is a growing demand for crypto assets despite their overall volatility and risky nature
UK Financial Regulator FCA Takes Conservative Approach on Crypto Regulation
The United Kingdom’s Financial Conduct Authority (FCA) is not in a rush to add digital currencies to the list of industries or markets that fall within its jurisdiction.
Nigeria Releases New Rules Classifying Crypto as Securities
In a move that might boost crypto trading in Nigeria, the nation’s Securities and Exchange Commission (SEC) has rolled out “rules on issuance, offering platforms, and custody of digital assets” for virtual firms.
Binance Taps Former Deputy US Attorney as its First Deputy General Counsel
Binance exchange has announced a new appointment of Joshua Eaton as its Deputy General Counsel, admiring his legal profession and military background would help the exchange deal with compliance challenges.