In South Korea, more than 60 cryptocurrency exchanges must notify their customers about a partial or full suspension of trading by Friday midnight, a week before a new regulation comes into effect. The new regulations require exchanges to register with the Financial Intelligence Unit by 24 September, providing a security certificate from the Internet Security…
Dubai-based UAE’s financial watchdog (NAMLCFTC) has adopted a regulatory framework for virtual assets. Regulators seek coordination among public and private sectors to combat money laundering and terror financing. As Gulf News reported, the UAE’s National Committee for Combatting Money-Laundering and Financing of Terrorism and Illegal Organisations (NAMLCFTC) has adopted a regulatory framework for virtual assets…
Celebrity investor Kevin O’Leary expects a “trillion dollars” more to flow into Bitcoin in the next couple of years. He wants to more than double his cryptocurrency holdings from 3% of his portfolio to 7% by the end-2021. O’Leary also sees cryptocurrencies becoming an institutional asset class. The “Shark Tank” star Kevin O’Leary talked about…
As Reuters reported Friday, citing three unnamed sources, the US Treasury Department met with a number of industry players this week to discuss the risks and benefits posed by stablecoins – a fast-growing type of cryptocurrencies whose value is tied to traditional currencies. But why are regulators so interested in them? With a market cap…
The US Securities and Exchange Commission is gradually escalating its activity, trying to restrict the cryptocurrency business as much as possible and bring it under the regulatory norms typical for the stock market. On August 27, we learned that the US Securities and Exchange Commission (SEC) struck a $ 125,000 deal with AnChain.AI to monitor…
Diem, the digital currency and global payment system project of Facebook, seemingly can’t cope with its struggle with financial regulators. The payment project has been facing difficulties with senior legislators in the Biden administration. Despite the whole might of the lobbying power of the social media giant, the project of Facebook stablecoin hasn’t been able…