Regulation

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Basel Committee Finalizes Rules for Bank Exposure to Cryptocurrency Assets

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The Basel Committee, the organization in charge of setting global bank standards, has finalized its new rules related to banks and cryptocurrency exposure. The document establishes two different crypto asset classes, including tokenized real assets and stablecoins in one, and other cryptocurrencies in another, discriminating on the collateral and quantity that banks might hold for … Read more

Government Agencies Need Crypto Wallets and Access to Exchanges, Russian Prosecutors Say

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Russian authorities are finding it hard to cash out digital assets they have gotten hold of, prosecutors have warned. They have also urged the government to recognize cryptocurrency as property, allow departments to have digital wallets and use crypto exchanges. Prosecutor’s Office Insists Russian Investigators Should Have Cryptocurrency Wallets Russian prosecutors are convinced that investigative … Read more

SEC Chairman Says Important to Regulate Crypto Issuers and Intermediaries

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The chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, has stressed the importance of bringing “intermediaries and issuers of crypto securities” into compliance. In addition, the U.S. Treasury Department’s Financial Stability Oversight Council (FSOC) has recommended that regulatory agencies continue to “enforce existing rules and regulations applicable to the crypto-asset ecosystem.” SEC … Read more

Federal Prosecutors Probe Democrats Over Donations From Sam Bankman-Fried

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Several members of the U.S. Democratic Party and campaign committees are reportedly being probed by federal prosecutors over donations from former FTX CEO Sam Bankman-Fried (SBF) and another executive of the collapsed cryptocurrency exchange. “To any person, entity, or political campaign that has received stolen customer money, we ask that you work with us to … Read more

Binance to Help Azerbaijan With Crypto Regulations

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Cryptocurrency exchange Binance has offered to support Azerbaijan in efforts to establish regulations for digital assets. The leading coin trading platform has been active in the region this year, seeking to expand market presence and increase interaction with authorities. Binance to Assist Azerbaijan’s Monetary Authority With Regulations for Cryptocurrencies The world’s largest exchange for crypto … Read more

G20 Countries to Build Crypto Policy Consensus for Better Global Regulation

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The G20 countries aim to build a policy consensus on crypto assets for better global regulation. “After the crypto meltdown which we have seen recently, it is clear that we need internationally agreed standards on regulation,” said the International Monetary Fund (IMF)’s deputy managing director, Gita Gopinath. G20 Nations Discuss Crypto Regulation The G20 finance … Read more

US Senator: Cryptocurrency Cannot Be Stopped, FTX Collapse Isn’t an Indictment of Crypto

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U.S. Senator Pat Toomey says illegal actions by crypto exchange FTX must be separated “from perfectly lawful and innovative cryptocurrencies.” Emphasizing that “The collapse of FTX is not an indictment of crypto,” he noted that “cryptocurrency cannot be stopped” and “the technology would simply migrate offshore” if Congress tried. Separating Illegal Actions From ‘Perfectly Lawful … Read more