The Monetary Authority of Singapore (MAS) has published a consultation paper proposing a new set of regulations that may stiffen the emergence and activities of crypto industries in the country. Despite the proactive strides of the MAS towards the development of the country’s central bank digital currency (CBDC), the apex bank is set to reinforce its regulations on digital currencies.
The UK Government has proposed that crypto asset promotions should fall under the scope of the Financial Conduct Authority’s existing oversight and does not require a whole new framework just for digital assets.
Barry Silbert, CEO of Grayscale Investments thinks that Bitcoin has too much support from policymakers in the United States to ever be shut down completely.
The CFTC has scheduled a virtual meeting for Thursday, July 16th where its Technical Advisory Committee will discuss matters around on cryptocurrencies and DLT.
Now that the ICO market bubble ebbed away security token offerings (STOs) have emerged, allowing investment in regulated securities recorded on a blockchain according to new research from the Oxford Faculty of Law
The IRS shook up the US crypto sector last year, when it issued Letter 6137 to American taxpayer’s which demanded that all citizens declare any unreported crypto gains within 30 days. One year on and an IRS watchdog has slammed the letter as a violation of the Taxpayer Bill of Rights.
South Korea’s parliament has put forward a bill that could see crypto profits taxed by up to 20% as members argue that cryptocurrencies are commodities.
Abra and Plutus Tech have agreed to a cease-and-desist order and a combined penalty of $150,000 after being charged by the Securities and Exchange Commission for selling unregistered security-based swaps to investors in 2019.
Silviu Catalin Balaci, a 35-year old Romanian citizen living in Germany, has owned up to helping create BitClub Network, a crypto mining Ponzi scheme that siphoned off investors’ funds worth $722 million.