Tag: Regulations

Cryptocurrency exchanges have begun cutting links with customers in China after Beijing declared more activities related to digital coins “illegal” last week, in its latest broadside against the virtual currency industry. Huobi, one of these exchanges, said on Sunday that it would end account registrations for new mainland Chinese users. The company will also gradually…

The UAE’s financial regulator has approved a regulatory framework for trading crypto assets in one of Dubai’s free trading zones. The United Arab Emirates’ Securities and Commodities Authority (SCA) has signed an agreement with the Dubai World Trade Centre Authority (DWTCA) to support regulation of cryptocurrencies within DWTCA’s free zone, Reuters reports. The new initiative…

China’s regulators banned on all crypto transactions and vowed to root out mining of digital assets, hitting Bitcoin and other major coins and pressuring crypto and blockchain-related stocks. According to Reuters, crypto-related transactions will be considered illicit financial activity, including services provided by off-shore exchanges, the People’s Bank of China said on its website. It…

A forum of some of the largest U.S. and European banks, including JPMorgan Chase and Deutsche Bank, has urged modifications to the rules proposed by the world’s central banks and regulators for capital requirements on Bitcoin exposure. Banking bosses from the largest financial institutions in the U.S. and Europe have voiced their opposition to the…

After a sweeping ban on the use of cryptocurrencies this April, Turkish President Recep Erdogan is aiming to assert financial control ahead of launching the digital Lira. Although the central bank is not opposed to using digital currency, Erdogan believes the digital Lira faces conflict with cryptocurrencies. During a national youth meeting with representatives from…

The legal status of Bitcoin and other cryptocurrencies differs substantially from country to country, while in some, the status remains undefined or is constantly changing. As more people turn to cryptos as an investment, there are issues manifest as an array of restrictions on their usage. While in the majority of countries, Bitcoin is not…