guidelines – DIGIT INFO

EU releases crypto-asset classification tools to help firms comply with MiCA

DIGIT — Fri, 19 Jul 2024 13:51:04 +0000

EU regulators introduce standardized crypto-asset classification under MiCA with a new test and guidelines to ensure uniformity across the market as regulations begin to come into play.

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Hong Kong to Have Tight Crypto Regulations, Head of Monetary Authority Says

DIGIT — Wed, 10 May 2023 08:49:59 +0000

Companies attracted by the plan to turn Hong Kong into a hub for digital assets should expect strict regulations, the region has indicated. Authorities are preparing new licensing rules for service providers working with cryptocurrencies and guidelines for banks interacting with crypto firms. Crypto Hub Hong Kong Has No Intentions to Adopt ‘Light-Touch’ Regulations Hong […]

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US lawmakers argue SEC accounting policy places crypto customers at risk

DIGIT — Fri, 03 Mar 2023 05:56:35 +0000

While the bulletin was intended to provide clarity regarding the accounting treatment for digital assets, it has been criticized by both lawmakers and regulators.

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NYDFS Releases Guidance on Importance of Segregation and Separate Accounting for Customer Funds in Crypto Industry

DIGIT — Mon, 23 Jan 2023 20:00:57 +0000

On Monday, the New York Department of Financial Services (NYDFS) published guidance on custodial structures to help protect customers’ money if a crypto firm goes bankrupt. New York’s top financial regulator stressed that businesses should not commingle customer funds and that customer funds should be segregated with separate accounting. FTX Collapse Prompts NYDFS to Issue […]

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Bitcoin and Ether Are Not Securities in Belgium, Financial Regulator Clarifies

DIGIT — Sun, 27 Nov 2022 05:00:02 +0000

Cryptocurrencies like bitcoin and ether cannot be classified as securities or investment instruments, according to a communication issued by the financial watchdog in Belgium. The authority has tried to clarify the matter, noting that the digital coins may be subject to other regulations. FSMA: Securities Laws Do Not Apply to Bitcoin and Other Decentralized Cryptocurrencies […]

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Colombia Issues Guide for Implementing Blockchain for Public Projects in the Country

DIGIT — Fri, 08 Jul 2022 06:00:13 +0000

The Ministry of Information Technologies and Communications of Colombia, Mintic, has issued a guide that describes the steps to implement blockchain in projects directed at the state level. The document defines blockchain and its basic elements, and also describes the guidelines that some projects should follow, depending on the needs of each project. Colombia Issues […]

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Iran Will Not Allow Crypto Payments, Prepares to Pilot Digital Rial

DIGIT — Mon, 11 Apr 2022 23:30:44 +0000

Iran will not recognize cryptocurrencies as a means of payment, a high-ranking government official has indicated. His statement came as the Central Bank of Iran announced rules for the issuance of digital coins in the country. These are meant, however, for its own “crypto rial,” the pilot phase of which should start in the near […]

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G7 Finance Ministers and Bankers Adopt Guidelines for Central Bank Digital Currencies

DIGIT — Fri, 15 Oct 2021 07:30:23 +0000

Any digital currency issued by a central bank must support financial and monetary stability, finance leaders from G7 member states have insisted. State-issued coins should also ensure privacy, transparency, and data protection, the officials stated. The forum adopted 13 public policy principles for retail digital currencies and stressed that “CBDCs are not ‘cryptoassets.’” CBDCs Must […]

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Korean Banks to Be Relieved of Liability for Crypto-Related Crime, Report Suggests

DIGIT — Mon, 28 Jun 2021 11:00:23 +0000

Banking institutions in South Korea have reportedly requested to not be held accountable for crimes linked to cryptocurrencies such as money laundering. According to local media, financial regulators are now developing rules that could relieve Korean banks from responsibility when screening the crypto exchanges they work with. New Guidelines to Appease South Korean Banks Korean […]

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Central Bank of Brazil Issues Guidelines for Its CBDC

DIGIT — Mon, 31 May 2021 08:00:06 +0000

The Central Bank Of Brazil, the highest monetary authority of the country, has released a note listing the general guidelines for the design of a hypothetical central bank digital currency (CBDC) for the country. While there are still no concrete steps taken in this direction, at least the document recognizes there have been discussions about […]

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