Tag: CryptoPolicy

World’s biggest cryptocurrency exchange Binance is rolling out immediate verification requirements for all its users in support of its expanded know-your-customer (KYC) and anti-money-laundering (AML) policy. Binance will limit services for existing users unless they adhere to the new requirements. As the crypto exchange claims, it requires all its users through intermediate verification to further…

Fitch Ratings said in a note on Monday that El Salvador’s move to embrace Bitcoin as legal tender poses a serious risk to its local insurance companies. As Fitch said, Salvadoran insurers will be under pressure to quickly convert Bitcoin to dollars to avoid price risk; otherwise, they could face steep losses. In June, Salvadoran…

The next wave of crypto adoption in the Middle East is likely to come from citizens in unstable countries facing crucial inflation like Iran and Lebanon. While some countries continue to restrict crypto trading and mining, digital transformation in the Middle East has proceeded at a rapid pace. Nimrod Lehavi, the founder of Simplex and…

Gary Gensler, the chair of the US Securities and Exchange Commission (SEC), called on Congress to give the agency more authority to stronger regulate cryptocurrency exchanges, lending, and platforms riddled with fraud and investor risk by his words. At a global conference on Tuesday, the SEC chair said the crypto market involves many tokens, which…

India’s Ministry of Finance has clarified some questions concerning the status of cryptocurrency, crypto regulation, and crypto investor protection in the country. The minister also indicated that the recommendations in the draft bill proposed by the interministerial committee are still being considered. The Indian minister of finance, Shri Pankaj Chaudhary, answered Monday some questions about…

Could DeFi revolutionize finance? And can regulators do something about it? Chris Matthews reflects in his MarketWatch column, while Washington is paying close attention to this $100 billion movement. More than a decade after its creation, Bitcoin and other cryptocurrencies have failed to achieve the dream of a new, widely-used global currency free from the…