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President Vladimir Putin of Russia has signed into law a bill banning payments with digital financial assets. The legislation obliges exchange operators to refuse to process transactions facilitating the use of DFAs, a legal category currently covering cryptocurrencies, as “monetary surrogates.” President Putin Approves Legislation Banning Digital Asset Payments in Russian Federation Russian President Vladimir … Read more
The interior ministry of Russia has decided to go after those providing money-laundering services to crypto fraudsters, suggesting they should go to prison. The department wants to introduce criminal liability for the activities of these people, also known as ‘droppers.’ Law Enforcement in Russia Targets Droppers Involved in Fraudulent Crypto Schemes The Ministry of Internal … Read more
“Customers engaged in transactions with these entities may not receive the benefit of the customer protections, safeguards, and guardrails,” said CFTC commissioner Kristin Johnson. Go to Source Powered by WPeMatico
“In the past, innovative firms would have been pleading for less regulation — now they understand and appreciate that rules are there to help provide certainty,” said Nikhil Rathi. Go to Source Powered by WPeMatico
A new report by the European Central Bank (ECB), presented as a “deep dive into crypto financial risks,” calls for “appropriate” regulation and oversight of stablecoins and decentralized finance (defi). It also addresses the hot topic of Bitcoin’s carbon footprint in Europe, suggesting a ban on proof-of-work mining is probable. Growth of Stablecoins, Defi Warrants … Read more
Another crypto lender, Celsius Network, has sought bankruptcy protection in the U.S. “Customer claims will be addressed through the Chapter 11 process,” the company said. Two other crypto firms recently filed for bankruptcy protection: Voyager Digital and Three Arrows Capital (3AC). Celsius Follows Voyager, Files for Chapter 11 Bankruptcy Crypto lender Celsius Network announced Wednesday … Read more
Major South African exchanges have welcomed the central bank’s plans to regulate cryptocurrencies as financial assets. Go to Source Powered by WPeMatico
European Securities and Markets Authority (ESMA) Chair Verena Ross says that the crypto market crash should be a “cautionary lesson” for investors. She noted that there is a “real question” about whether many crypto assets will survive. ESMA Chair on Crypto Risks and Regulation Verena Ross, chair of the European Securities and Markets Authority (ESMA), … Read more
Michael Barr was on the advisory board of Ripple Labs from 2015 to 2017 and has called on lawmakers to create a regulatory framework on stablecoins to prevent the risk of runs. Go to Source Powered by WPeMatico
Civil Procedure Rules in the U.K. have previously allowed for lawsuits to be served using Instagram, Facebook, and a contact form on a website. Go to Source Powered by WPeMatico
