REGULATION
Traversing Through the Crypto Regulatory Landscape in 2019
Blockchain and crypto regulation has seen its ups and downs in 2019, with endless regulators evolving along with the realm of the new technology development and use cases. From countries that view blockchain as a threat to learning to embrace the technology; let’s have a look at some of the major regulatory changes in 2019.
Paraguay Begins to Audit Local Crypto Industry to Comply with FATF Guidelines
Paraguay is looking to take its cryptocurrency industry mainstream, in light of the Financial Action Task Force’s (FATF) guidance on virtual asset service providers (VASPs) released earlier this year.
UK Court Recognized Cryptocurrency as Property in Freezing Order
In a property ownership tussle, UK high court found itself in the second attempt to recognize cryptocurrency as property. This time round, the court imposed a freezing order to crypto firm directors who failed to prove that they were not owners of the disputed cryptocurrencies.
Basel Committee on Banking Supervision Seeks Advice on Designing Prudential Treatment for Crypto-assets
Basel Committee on Banking Supervision publishes paper going over the design for prudential treatment for crypto assets. The paper goes over areas such as risks of crypto-asset exposures, capital, and liquidity requirements, and general considerations for the prudential treatment.
Paxos—Regulated and Rising above Trustless Tether and Lost Libra
In this second part of our interview with Cascarilla, he explains why the PAX stablecoin is ultimately superior to Tether and gives his thoughts on Facebook’s Libra project and the nature of money.
Sofi BitLicense Receives NYDFS Approval
The New York Department of Financial Services (NYDFS) has approved the SoFi BitLicense, a subsidiary of Social Finance, thereby agreeing and allowing its residents to get involved in digital currency trading.
South African Reserve Bank to Strictly Regulate Cryptocurrency in 2020
The South African Reserve Bank (SARB) is planning on introducing new regulations on cryptocurrency, which according to Kuben Naidoo, SARB deputy governor, will be fully implemented and enforced in the first quarter of 2020 and it brings to an end a deliberation that started since 2014.
The Digital Dollar Continues to be Pushed by Former CFTC Chair
The former US Commodity and Futures Trading Commission (CFTC) Chairman continues to fight for the U.S Dollar to become a digital global force.
German Banks Authorized for Crypto Custody and Sales in 2020
In 2020, German banks will be legislatively authorized to sell and provide custody of cryptocurrencies as reported by German newspaper Handelsblatt.
US CFTC Rounded Up Over $1.3B in Regulatory Penalties in 2019, 40% More Than the Previous Year
The US Commodity Futures Trading Commission (CFTC), the derivatives regulator in the US has collected over $1.3 billion in regulatory and administrative penalties in the fiscal year of 2019, including funds collected from cryptocurrency businesses, which ended on Sept. 30.