REGULATION
Cryptocurrencies are not issued by a monetary authority, are not controlled or regulated and their price is determined by the supply and demand of their market.
California Signs Executive Order to Formulate Crypto Regulations
The US state of California announced that state agencies will work with the federal government to formulate digital currency regulations to officially accept and supervise cryptocurrencies.
Dubai Regulator Establishes Virtual HQ in the Sandbox Metaverse
Dubai is committed to growing the domestic digital asset sector, a local crypto regulator announced on Tuesday that it has created a virtual headquarters in The Sandbox metaverse platform.
The Bank of Uganda Blacklists Financial Firms for Facilitating Crypto Trading
Uganda’s Central Bank has stated that it did not approve any licensed institution to sell cryptocurrencies or facilitate the trade-in of cryptocurrencies. Offenders would be backlisted.
E.U and US Can Coordinate Effort "on a Shared International Approach to Regulating Crypto": EU Commissioner
Mairead McGuinness, a Commissioner for financial services, financial stability, and capital markets union at the European Commission has called on the United States and the European Union to coordinate efforts with respect to regulating digital currencies.
Crypto.com Appoints Former Visa Boss as VP of Policy of EMEA
Digital currency trading platform, Crypto.com has tapped the services of Roeland Van der Stappen, a Brussels-based regulatory veteran as its new Vice President of Policy in charge of Europe, the Middle East, and Africa (EMEA) region.
DBS Declines to Offer Crypto Services to Retail Customers as Regulation Stiffens
Since regulators consider crypto coins to be ill-suited for retail consumers, DBS bank said that it will not offer such products to retail-banking clients any time soon.
Bank of England Solicits Funds to Enhance Crypto Crackdown
The Bank of England, through the Prudential Regulation Authority (PRA), is looking to raise as much as £321 million ($419 million) from the commercial institutions as it is planning to shore up its regulatory efforts in the digital currency ecosystem.
Iran to Introduce Additional Penalties for Illegal Crypto Mining
The Iranian government is going to pass new regulations to increase the penalties for illegal cryptocurrency mining using subsidized electricity.
Singapore Passes Law to Regulate VASPs Operating Abroad
Singapore-based Virtual Assets Service Providers (VASPs) which do their business offerings or products abroad are now required to secure licensing from the relevant authorities.
UK to Accept Stablecoins as Form of Payment, Plans to Mint NFT by this Summer
The UK announced to accept stablecoins as a valid form of payment and has set plans to make Britain a global hub for cryptoasset technology and investment.
UK Regulator FCA to Consult Crypto Industry Concerning Ecosystem & Regulation
The United Kingdom Financial Conduct Authority (FCA) is calling stakeholders in the digital currency ecosystem to a two-day CryptoSprint event that will be taking place on 10 and 11 May respectively.
Crypto-Related Firms Should Treat Crypto Custody Arrangements as Liability: US SEC
The U.S. Securities and Exchange Commission（SEC） said cryptocurrency-related U.S.-listed companies should link those assets to arsenic liabilities and disclose the associated risks to investors, Reuters reported.
South Korea’s Crypto Market Gears up to Legitimacy, With Banks Eyeing a Share of the Cake
With the incoming South Korean President, Yoon Suk-yeol, pledging the easing of crypto regulations, the market is on a solid path to being significantly legitimized.
Voyager Digital Receives a Cease and Desist Order from New Jersey Regulators
Digital assets platform, Voyager Digital, has been issued a cease and desist order by the New Jersey Bureau of Securities for offering unregistered securities in the form of its Voyager Earn program.
Japan to Introduce Legislation Governing Banks and Crypto Exchanges
The Japanese government is pushing for new legislation that will request cryptocurrency trading platforms operating in the country become governed by the same rules that apply to banks.
