Latest News on Regulation

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Hong Kong Embraces Web3 Despite Crypto Market Volatility

Hong Kong's financial secretary, Paul Chan, has emphasized the need for the city to embrace Web3 technology, despite the fluctuations in the crypto market. Chan has proposed a strategy that focuses on proper regulation and promoting development to facilitate Web3's steady growth. He also noted that Hong Kong plans to prioritize financial security, prevent systemic risks, and focus on investor education and protection. The region's approach to crypto regulation contrasts with that of the United States, which has adopted a more hardline response to the industry.

Terrill Dicki

Apr 11, 2023

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#HONG KONG #WEB3 #CRYPTOCURRENCY #REGULATION #FINANCIAL SECURITY

News

Arkansas passes Bitcoin mining regulation bill

Arkansas has passed a bill to regulate Bitcoin mining activity in the state, protecting miners from discriminatory regulations and taxes. Digital asset miners must pay applicable taxes and operate without causing stress to public utility generation capabilities. The move follows a similar initiative in Montana and New York's proof-of-work mining moratorium.

Rebeca Moen

Apr 10, 2023

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#ARKANSAS #BITCOIN MINING #REGULATION #TAXES #DATA CENTERS

News

IOSCO to Consult on Crypto Regulation

The International Organization of Securities Commissions (IOSCO) plans to launch a consultation for its crypto asset regulation report in Q2 2023. The final recommendations are expected to be published by the end of 2023, with separate workflows dedicated to crypto assets and decentralized finance.

Terrill Dicki

Apr 08, 2023

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#IOSCO #REGULATION #CRYPTO ASSETS #CONSULTATION #DECENTRALIZED FINANCE

News

Bitcoin Liquidity Drops Despite Price Surge

Despite a 45% price gain, Bitcoin's liquidity has dropped to a 10-month low due to the ongoing financial crisis and regulatory actions against crypto companies. The collapse of crypto-friendly banks has led to a liquidity crisis, causing increased price volatility and higher fees for traders.

Luisa Crawford

Apr 04, 2023

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#BITCOIN #LIQUIDITY #PRICE VOLATILITY #FINANCIAL CRISIS #REGULATION

News

Japan's FSA Warns Binance and Others for Operating Without Registration

Japan's Financial Services Agency (FSA) has warned several foreign cryptocurrency exchanges, including Binance, of conducting business in the country without proper registration, violating the nation's fund settlement laws. The FSA has been cracking down on unregistered crypto exchanges since 2020, and this warning signifies that the cryptocurrency industry in Japan and other nations is facing greater regulatory scrutiny.

Zach Anderson

Apr 04, 2023

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#JAPAN #FINANCIAL SERVICES AGENCY #CRYPTOCURRENCY EXCHANGES #BINANCE #REGULATION

News

Stablecoin Depeg Event Reveals Risks to DeFi and Traditional Finance

Recent failures of established financial institutions, such as Silicon Valley Bank and Signature Bank, have highlighted the potential for distress to spread to the decentralized finance (DeFi) sector. The depegging of stablecoins, including Circle's USD coin (USDC), has also brought governance risks related to the custody of reserve assets to the forefront. Moody's anticipates that regulators could increase their scrutiny of stablecoins and require greater counterparty diversification.

Terrill Dicki

Apr 03, 2023

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#STABLECOINS #DEFI #TRADITIONAL FINANCE #REGULATION #GOVERNANCE

News

US Crypto Crackdown Could Push Industry to Hong Kong

Paris-based Kaiko's CEO, Ambre Soubiran, has suggested that the recent US crackdown on cryptocurrency regulation could lead to a shift in the industry's center of gravity towards Hong Kong, which has been more favorable towards crypto. The Hong Kong government has been rolling out progressive regulation to support crypto and fintech firms in 2023, with over 80 virtual asset-related firms expressing interest in setting up shop there.

Terrill Dicki

Apr 03, 2023

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#CRYPTOCURRENCY #REGULATION #US #HONG KONG #FINTECH

News

Bermuda Remains Committed to Crypto Despite FTX Collapse

Bermuda's Premier and Finance Minister, Edward Burt, stated that despite the collapse of crypto exchange FTX in nearby Bahamas, Bermuda will continue to accommodate digital asset and blockchain technology companies due to the benefits they offer. The territory, which implemented a regulatory framework for digital assets, recently released its first stablecoin powered by the Polygon blockchain.

Zach Anderson

Apr 02, 2023

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#BERMUDA #CRYPTO EXCHANGE #REGULATION #DIGITAL ASSETS #STABLECOIN

News

Regulated Stablecoins Likely to Remain in Use by 2030

A panel of digital regulatory experts at the World of Web3 (WOW) Summit in Hong Kong discussed the future of regulated stablecoins. The group concluded that regulated stablecoins are likely to remain in use by 2030 and that their growth rate in the market supports this idea. The panelists acknowledged the growth of the crypto industry and emphasized the importance of both centralized and decentralized approaches to digital assets.

Terrill Dicki

Mar 31, 2023

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#REGULATED STABLECOINS #DIGITAL ASSETS #BLOCKCHAIN #CRYPTOCURRENCY #REGULATION

News

Australian Senator Proposes Digital Asset Regulation Bill

Senator Andrew Bragg has proposed a Digital Assets (Market Regulation) Bill 2023 to regulate cryptocurrency services in Australia. The bill recommends stablecoin regulations, licensing of exchanges, and custody requirements to protect consumers and promote investment.

Zach Anderson

Mar 30, 2023

| 0 Min Read

#CRYPTOCURRENCY #REGULATION #AUSTRALIA #BILL #STABLECOINS