Regulation

ECB Chief Christine Lagarde Calls for Global Bitcoin Regulation — Says BTC Conducts ‘Funny Business’

<div class=”featured_image_container”> </div> <strong>The president of the European Central Bank (ECB), Christine Lagarde, has called for the global regulation of bitcoin. She said that bitcoin is a highly speculative asset and has “conducted some funny business.” Emphasizing the need for countries to work together to regulate bitcoin, she suggested that the crypto regulation could be …

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US President-Elect Biden to Nominate MIT Blockchain Professor Gary Gensler as SEC Chairman

<div class=”featured_image_container”> </div> <strong>The U.S. President-elect Joe Biden is set to name Gary Gensler as the new chairman of the U.S. Securities and Exchange Commission (SEC) to replace Elad Roisman. During Obama’s administration, Gensler led the U.S. Commodity Futures Trading Commission (CFTC) from 2009 to 2014.</strong> The Former Banker Became Part of Biden’s Transition Team …

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Darknet Giant Darkmarket Shut Down, Alleged Operator Arrested

<div class=”featured_image_container”> </div> <strong>The authorities in seven countries and Europol have jointly taken down Darkmarket, one of the largest darknet marketplaces. The action was taken after the marketplace’s alleged operator was arrested in Germany. </strong> Authorities Shut Down Darkmarket Europol announced Tuesday that darknet marketplace Darkmarket has been taken down. The announcement details: Darkmarket, the …

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UK Government Asks Crypto Industry to Provide Insights on Its Regulatory Approach

<div class=”featured_image_container”> </div> <strong>Her Majesty’s Treasury in the U.K. issued a document that details a series of proposals addressing the crypto community. With the consultation, the Treasury is initiating a “regulatory approach to cryptoassets and stablecoins” for 2021 following the Brexit turmoil.</strong> Special Focus on Stablecoins Regulation According to the official announcement, the consultation mainly …

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JP Morgan Warns of Falling BTC Price With Bitcoin ETF Approval in US

<div class=”featured_image_container”> </div> <strong>JP Morgan’s analysts say that the U.S. Securities and Exchange Commission (SEC) approving a bitcoin exchange-traded fund (ETF) is likely negative for bitcoin in the near term. There is optimism around the prospect of the SEC approving a bitcoin ETF under new leadership, the analysts say.</strong> SEC Approving Bitcoin ETF Could Be …

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The CFTC Asks Court to Issue Fines in Excess of $100M Against Mastermind of a Fraudulent Crypto Scheme

<div class=”featured_image_container”> </div> <strong>The Commodity Futures Trading Commission (CFTC) has filed a motion with the New York Southern District Court that seeks heavy penalties against Michael Ackerman, the mastermind of a fraudulent cryptocurrency scheme. According to the motion, the U.S. agency wants the court to order Ackerman to pay $27 million in restitution plus a …

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Kyrgyzstan Has Proposed Its First Regulatory Framework for Crypto

The National Bank of Kyrgyzstan has published draft legislation that would legally define cryptocurrency and how it may be used in the Central Asian nation. With the proposed legislation, the central bank is following the call of the Financial Action Task Force (FATF) to regulate cryptocurrencies and prevent related money laundering and terrorism financing risks, …

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As BTC Continues to Soar Finland Wants to Cash in on Bitcoins Seized in 2016

<div class=”featured_image_container”> </div> <strong>Finland’s customs officials have revealed plans to sell 1,981 bitcoins that were seized mainly in connection with drug trafficking-related criminal investigations. The majority of the confiscated bitcoins (1,666) are from the Douppikauppa case, the darknet operator who was arrested in 2016.</strong> To Sell or to Destroy the Coins According to a report …

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Trump Signs Order to Ban Ma’s Alipay, Other Chinese Apps

U.S. President Donald Trump signed an executive order on Tuesday banning the Alipay payment platform and seven other apps with links to the Chinese, saying the apps can access private information from their users. Separately, U.S. officials are considering banning U.S. citizens from investing in Alibaba Group, an affiliate of Alipay’s parent, and Tencent Holdings, …

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Israeli Regulator Designates Utility Tokens Issued by Companies as Securities

<div class=”featured_image_container”> </div> <strong>The Israel Securities Authority (ISA) recently ruled that utility tokens issued by companies are securities and, therefore, cannot be classified as assets. The ISA’s decision comes after Israeli tech startup Kirobo sought to convince the regulator that its planned token issuance did not amount to a security offering. </strong> Token Value Growth …

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