New York financial regulator investigates Gemini over FDIC claims: Report
Many Gemini Earn users reportedly claimed assets in their accounts had been protected by the Federal Deposit Insurance Corporation. Go to Source Powered by WPeMatico
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UK regulator investigates charity linked to FTX
The Charity Commission opened the inquiry on Dec. 19, after FTX had filed for bankruptcy in the United States and former CEO Sam Bankman-Fried was arrested. Go to Source Powered by WPeMatico
Kazakhstan Parliament Adopts Law Regulating Crypto Mining and Exchange
Lawmakers in Nur-Sultan have approved the final version of the law “On Digital Assets in the Republic of Kazakhstan.” The new legislation, including several other bills, regulates the circulation of cryptocurrencies in the country and introduces a licensing regime for crypto miners and exchanges. Senate Votes on Crypto Law, Sends It to President of Kazakhstan … Read more
US Senator’s Resolution Encourages Capitol Gift Shops to Accept Cryptocurrency
A U.S. lawmaker has introduced a resolution that encourages Capitol gift shops to accept cryptocurrency payments. He stressed that lawmakers “should increase accessibility and signal our support for the burgeoning cryptocurrency industry to those who visit Capitol Hill.” US Senator Advocates Crypto Payments U.S. Senator Ted Cruz (R-TX) announced Thursday that he has reintroduced the … Read more
US Senator Focused on Crypto Money Laundering Crackdown — Urges Congress, Regulators to Take Action
U.S. Senator Elizabeth Warren has called on Congress to ensure regulators, such as the Securities and Exchange Commission (SEC), have the tools to regulate the crypto industry effectively and crack down on crypto money laundering activities. “The current legal structure essentially holds up a giant sign over crypto that says, money laundering done here,” the … Read more
White House Publishes ‘Roadmap’ to Mitigate Cryptocurrency Risks
The White House has published a “roadmap to mitigate cryptocurrencies’ risks.” The roadmap calls for authorities to “ramp up enforcement where appropriate” and Congress “to step up its efforts” to regulate the crypto sector. It also notes that legislation should not greenlight mainstream institutions “to dive headlong into cryptocurrency markets.” ‘The Administration’s Roadmap to Mitigate … Read more
New York Considers Bill to Establish Cryptocurrency as a Form of Payment for State Agencies
A bill has been introduced in the U.S. state of New York to allow state agencies to accept cryptocurrency payments, including bitcoin, ether, litecoin, and bitcoin cash. The legislation proposes allowing crypto to be used as “a means of payment of fines, civil penalties, rent, rates, taxes, fees, charges,” and more. Bill to Allow State … Read more
US Federal Reserve Board Issues Policy Statement That Limits Banks’ Crypto Related Activities
The United States Federal Reserve Board said on Jan. 27 that both insured and uninsured banks will be subjected to limits on certain activities including those that are associated with crypto assets. The board’s latest action does not preclude a state member bank or prospective applicant from providing crypto-assets safekeeping services. Limiting Regulatory Arbitrage The … Read more
Sao Paolo Introduces Blockchain in Data Access Law
The Brazilian city of Sao Paolo has introduced the concept of blockchain in its municipal data access and transparency law. The concept of blockchain is defined as a technology that can be of use in this field, but the city has not defined the structures or the implementation for its use in the future. Sao … Read more
Ban on Crypto Mining in Residential Areas Proposed in Russia
Advisors to the Kremlin have suggested that home crypto mining should be banned in Russia, or in some of its regions. The stated motive for the proposal is to prevent fires in residential buildings. Amateur miners have been blamed for high loads on the grid causing breakdowns and blackouts. Energy Experts Want to Prohibit Mining … Read more