Advertisement

Politics

U.K. Regulator to Spend £11M on Marketing Campaign Warning of Crypto Risks

  • The head of the FCA, Nikhil Rathi, made the announcement during a speech at the "Our Role and Business Plan" webinar on Thursday.
  • Rathi said the digital marketing campaign was necessary, as crypto investors are more likely to be young people drawn to social media.
Shutterstock

  • The head of the FCA, Nikhil Rathi, made the announcement during a speech at the "Our Role and Business Plan" webinar on Thursday.
  • Rathi said the digital marketing campaign was necessary, as crypto investors are more likely to be young people drawn to social media.
Shutterstock

Italian Financial Regulator Says Binance is Unauthorized to Offer Investment Services

  • Italy's CONSOB has become the latest in a series of financial regulators to warn investors that Binance unauthorized to operate in their jurisdictions.
  • Earlier this month, Barclays warned it will be blocking payments to Binance, citing a notice published by the FCA in June.
Shutterstock

American CryptoFed DAO Becomes First Recognized DAO in the U.S.

  • Earlier this year, Wyoming recognized DAOs as a distinct form of LLCs.
  • The law made the American CryptoFed DAO the first legally recognized DAO in the U.S.
Binance CEO Changpeng Zhao speaking at an "Ask Us Anything" conference. Binance

Britain’s Financial Regulator Issues Consumer Warning to Binance

  • The FCA said Binance Markets Limited is not permitted to undertake any "regulated activities" in the U.K.
  • However, Binance will most likely be able to continue operating in the country as it's registered outside of the U.K.

Advertisement

Shutterstock

Nebraska Passes Bill to Allow Banks to Offer Crypto Services

  • First introduced in January, the bill has received an overwhelming support from Nebraska lawmakers, and has passed its final vote with 46 to 2.
  • It enables financial institutions to operate digital asset depository businesses, for which the state will provide "charter, operation, supervision, and regulation".
Nebraska flag. Shutterstock

Nebraska Advances Bill to Allow Banks to Offer Crypto Services

  • The bill aims to adopt the Nebraska Financial Innovation Act and create digital asset depository institutions.
  • The initiative could make Nebraska the second U.S. state to set up a formal charter for crypto-powered bans, the first being Wyoming.
Shutterstock

Binance Facing Fines Over Stock Token Offering

  • BaFin, Germany's financial regulator, warned investors Binance may have violated E.U. securities rules by not providing a prospectus for its stock tokens offering.
  • Considered an administrative offence, such a violation could be punished with a fine of $6 million, or 3% of Binance's annual revenue.
Shutterstock

EU Regulators Examining Binance’s Stock Tokens

  • The U.K. FCA is reportedly working with Binance to better understand the stock tokens, and what regulation may apply to them.
  • Binance said a prospectus was not required as the tokens were not settled in fiat currency, but in Binance USD (BUSD).
People's Bank of China. Shutterstock

China’s Central Bank Sees Crypto Assets as ‘Investment Alternatives’

  • China seems to finally recognise the investment potential of crypto, with a deputy governor of the PBoC stating that Bitcoin and stablecoins were investment alternatives.
  • The bank will "continue to maintain the current measures and practices", until it has figured how to prevent digital assets from creating a serious financial risk.
Building of the central bank of the republic of Turkey in Galata district, Istanbul, Turkey, 16 December 2015. Shutterstock

Turkey’s Central Bank Bans Use of Crypto For Payments

  • The Central Bank of the Republic of Turkey will also prevent payment providers from providing fiat onramps for crypto exchanges.
  • Citizens who exclusively use payment providers as fiat-to-crypto gateways now have two weeks to clear their balances.
President-elect Joe Biden discusses defending the Affordable Care Act and his health care plans in an information convention,in Wilmington on 16 November 2020. Shutterstock

Biden Administration Worried About China’s CBDC

  • The Treasury, State Department, Pentagon and National Security Council are researching China's digital currency electronic payment (DCEP) system.
  • Officials are not worried about short-term impacts the digital yuan could have, but are weary of the potential long-term effects on the U.S. dollar.
British flag. Shutterstock

U.K. FCA Adds Crypto Firms to Crime Reporting List

  • The FCA now requires "all crypto asset exchange providers and custodian wallet providers" to submit annual financial crime reports.
  • The move follows the regulator's plan to increase its regulatory oversight in the crypto space, which began in January 2020.
Canadian flags. Shutterstock

Canadian Securities Regulator Outlines New Rules For Crypto Trading Platforms

  • The new regulation is set to foster innovation while protecting investors.
  • Crypto trading platforms that fail to initiate the new registration process by 19 April could face enforcement action.
Indian Prime Minister Narendra Modi at Rastrapati Bhawan in New Delhi, India, 18 October 2016. Shutterstock

India to Propose World’s Strictest Policies Against Crypto

  • If passed into law, the legislation will criminalise the possession, issuance, mining, trading and transferring of crypto assets in India.
  • Crypto investors will be given six months to liquidate their crypto holdings, before the government starts issuing fines.