Government

Bitcoin needs clear regulations to be less volatile, Bridgewater analyst says

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A senior analyst at asset management firm Bridgewater believes that regulation could potentially make Bitcoin (BTC) a good asset for institutional investors. Bridgewater director of investment research Rebecca Patterson claimed that regulatory certainty around Bitcoin would solve some of the cryptocurrency’s biggest problems associated with high volatility and low liquidity. In a Feb. 24 interview …

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Ant-backed MYbank to help China expand digital yuan trial

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China’s central bank is pushing exposure to its ongoing national digital currency pilot by enlisting two major private banks in the project. According to a Feb. 22 Bloomberg report, MYbank and WeBank will help the People’s Bank of China extend its user exposure in the ongoing pilots of its central bank digital currency, the digital …

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Congress is blaming Robinhood, not Reddit

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Vlad Tenev, Robinhood’s CEO, very much occupied the hot seat in today’s hearing before the House Financial Services Committee over January’s market volatility.  None of the representatives seemed particularly interested in putting the screws to Reddit CEO Steve Huffman, and many seemed to give Keith Gill the same props the rest of us did. These …

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Australia’s Blockchain Ecosystem Needs More Support From Regulators, Says Industry Body

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Australia’s blockchain and cryptocurrency companies need more support from the federal government and regulators to boost confidence within the country’s business sector, according to Steve Vallas, CEO of advocacy body Blockchain Australia. Speaking at the Senate Select Committee on Financial Technology and Regulatory Technology on Thursday, Vallas said Australia has a blockchain “base” from which …

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Australian regulators open to Bitcoin ETF with ‘rules in place’

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The Australian Securities and Investments Commission has clarified its position regarding Bitcoin (BTC)-linked exchange-traded funds.  According to a Feb. 12 report by the Australian Financial Review, the commission addressed the subject after previously rejecting a Bitcoin ETF initiative by local company Cosmos Capital. Per the report, Cosmos CEO James Manning claimed that ASIC “have a …

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India May Side-Step Parliament to Push Through Crypto Bill: Report

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The Indian government is reportedly planning to fast-track its proposed cryptocurrency bill using the ordinance process. Similar to an executive order in the U.S., an ordinance law is put into effect by India’s president on the recommendation of the cabinet, and would be equivalent to an act of parliament, according to Wikipedia. The route is …

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President Biden brings back weekly addresses with a podcast-like format

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President Biden is poised to resurrect the weekly radio address, but he’s hoping to keep it relevant through a simple strategy: ditch the radio. As the New York Times explained, the White House has launched a “weekly conversation” series that embraces the more informal style of podcasts. The first episode, a chat with a worker …

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Russia’s regulatory sandbox and the implementation of blockchain tech

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The main challenge companies face when testing and implementing innovative technologies is the need to amend existing legislation. Developing and testing new products based on distributed ledger technology requires special conditions that are often inconsistent with existing regulations. The solution to this problem would be the introduction of a special “regulatory sandbox” regime. It means …

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India will propose a law banning private cryptocurrencies like Bitcoin

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Nicolas Economou/NurPhoto via Getty Images India may be the next country to clamp down on existing cryptocurrencies in favor of its own. As TechCrunch reports, India’s lower house of parliament has revealed plans to introduce a law that would ban “all private cryptocurrencies” in the country, including popular ones like Bitcoin. Instead, parliament would establish …

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Ripple ran crypto’s most expensive lobbying program in 2020

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Ripple Labs spent $690K on lobbying in the U.S. in 2020, which still didn’t save the firm from the Securities and Exchange Commission. Per legally mandated disclosures for 2020, Ripple’s lobbying program dwarfed those of other firms in the crypto industry. Coinbase, which looks to become the first American crypto exchange to issue public shares, …

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