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Politics

European Central Bank Wants Stablecoin Veto Power

  • The European Central Bank also wants stablecoin issuers to meet the same "rigorous liquidity requirements" as banks.
  • The central bank has urged the EU to ensure its ruling be made binding on all national authorities in the Euro Zone.
European Union flag in front of the Berlaymont building (European commission) in Brussels, Belgium. Shutterstock

  • The European Central Bank also wants stablecoin issuers to meet the same "rigorous liquidity requirements" as banks.
  • The central bank has urged the EU to ensure its ruling be made binding on all national authorities in the Euro Zone.
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Exchanges Concerned About Hong Kong’s Retail Crypto Trading Ban

  • Part of an effort to comply with FATF recommendations, Hong Kong's new proposal could ban retail investors from trading crypto.
  • A group representing major exchanges has argued the bill would push traders to unlicensed and unregulated offshore platforms.
Girl students pass a classroom with the map and flag of Nigeria painted on it at Success Private School in Maiduguri, Nigeria on 9 September 2015. Shutterstock

Nigeria Abandons Plans to Regulate Cryptocurrency

  • New regulation was put on hold after the Central Bank of Nigeria ordered banks to close crypto accounts.
  • The SEC said it will work with the Central Bank to better understand and regulate the asset class in the future.
Prime Minister Narendra Modi speaks at the Y4D Foundation New India Conclave at Vigyan Bhavan in New Delhi, India on 16 July 2018. Shutterstock

Report: India Considering Ban on Crypto, Again

  • An individual, claiming to be a senior Indian Finance Ministry official, claimed the country will soon introduce a blanket ban on all crypto use in the country.
  • Crypto investors will be given three-to-six months to liquidate all their holdings once the law comes into effect.

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OCC Grants Trust Charter to Protego Trust Bank

  • The enterprise-focused digital asset trust will be able to convert into a nationally chartered bank.
  • Protego will have 18 months to comply with the OCC's terms before it can begin to operate.
Young female tourist with Estonian flag in front of Saint Nicholas church in the old town of Tallinn. Shutterstock

Estonia Looking to Enact Stricter Crypto Regulations

  • Estonia's efforts to combat money laundering could lead to tighter crypto regulation.
  • Under the new law, less than a third of crypto companies would be able to reapply for a new license.
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SDAX Receives Regulatory Green Light For Digital Asset Exchange

  • The new exchange will operate 16 hours a day, and will use the Ethereum blockchain protocol and an integrated custody solution.
  • Investors will have to meet strict KYC and AML standards in order to access SDAX's platform, which will have same day settlements.
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FINMA Awards Crypto Broker AG With Securities House License

  • By acquiring the securities house license, Crypto Broker AG has joined the ranks of entities such as SEBA and Sygnum Bank.
  • The new license will not only allow the firm to offer its clients tokenized securities, but also hold funds in fiat currency for clients.
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CoinMENA Acquires License From Central Bank of Bahrain

  • CoinMENA has obtained a "Crypto Assets Services Company License" from the Central Bank of Bahrain.
  • The license will allow the exchange to operate in Bahrain, UAE, Saudi Arabia, Kuwait, and Oman.
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VanEck Seeks SEC Approval to Launch ETF

  • VanEck has filed a request with the SEC to launch a digital asset-related ETF.
  • The fund would track the performance of companies operating in the crypto industry.
Sign on the building of the Financial Industry Regulatory Authority (FINRA) in New York City, New York, USA on 18 June 2016. Shutterstock

Oasis Pro Receives FINRA Approval For Digital Asset Trading Platform

  • Broker-dealer Oasis Pro Markets received approval from FINRA and SEC to launch a digital asset trading platform.
  • The platform will enable users to trade digital securities with stablecoins and CBDCs.
Aerial view of Dubai Palm Jumeirah island in the United Arab Emirates. Shutterstock

Dubai Looking to Regulate Digital Assets

  • Dubai's top financial regulator is drawing up a new framework to regulate digital assets.
  • The regulation is set to cover a wide range of digital assets, including cryptocurrencies and security tokens.
Monument for Manas, hero of ancient Kyrgyzstan epoch, together with national Kyrgyzstan flag in Bishkek, Kyrgyzstan. Shutterstock

Kyrgyzstan Publishes First Draft Law Regulating Cryptocurrencies

  • The National Bank of Kyrgyzstan has published its first draft law regulating cryptocurrencies.
  • If passed, only exchanges, miners, and individuals would be able to own and trade cryptocurrencies.
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South Korea to Implement 20% Tax on Crypto in 2023

  • The South Korean government has introduced an amendment which will see profits made from crypto trading taxed at 20%.
  • After being announced in July 2020, the new tax rules suffered several delays, and will now reportedly come into effect in 2023.