Regulation

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Treasury Secretary Yellen Says Crypto Regulation Should Support Responsible Innovation, Manage Risks

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Treasury Secretary Yellen says the regulatory frameworks for crypto assets in the U.S. should “support responsible innovation while managing risks.” She emphasized, “Regulation should be based on risks and activities, not specific technologies.” Treasury Secretary Yellen on Crypto Regulation U.S. Treasury Secretary Janet Yellen talked about crypto regulation Thursday at American University’s Kogod School of … Read more

National Bank of Georgia to Regulate Country’s Crypto Sector

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The National Bank of Georgia is taking steps to regulate the crypto market in the Southern Caucasus country, its governor revealed in a recent interview. While companies in the industry are to expect a licensing regime, financial institutions have already been banned from providing crypto-related services. Central Bank of Georgia to Propose Cryptocurrency Regulations Georgia’s … Read more

Report: Four Nigerian Lenders Penalized for Failing to Block Crypto Transactions

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The Nigerian central bank recently fined four financial institutions it accuses of failing to stop clients from using their respective platforms to conduct cryptocurrency transactions. According to one of the affected institutions, the central bank is using a certain “advanced ability” to detect crypto transactions. Lenders Unable to Detect Crypto Transactions The Central Bank of … Read more

Bank of Russia Rejects Idea of Using Cryptocurrency to Circumvent Sanctions

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The Central Bank of Russia has turned down a proposal to allow the use of digital currencies for the purpose of sanctions evasion. The monetary authority believes this is hardly an option as Western regulators are already taking steps to prevent such transactions. Employing Bitcoin to Evade Sanctions Not Possible, Central Bank of Russia Says … Read more

Indian Parliament Member Insists Crypto Is Like Gambling — Wants to Tax at 50%

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An Indian parliament member says crypto is like gambling and must be taxed at a very high rate, such as 50%. “We need to discourage and disincentivize” trading and investing in the asset class, he stressed. Indian Parliament Member Wants to Tax Crypto at 50% Indian parliament member Sushil Kumar Modi shared his view on … Read more

Bank of England Governor Says Crypto Creates ‘Opportunity for the Downright Criminal’

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The governor of the Bank of England, Andrew Bailey, has warned that crypto creates an “opportunity for the downright criminal.” The central bank chief described: “You only have to ask the question ‘What do people committing ransom attacks usually demand payment in?’ The answer is crypto.” Bank of England’s Governor Warns About Cryptocurrency Bank of … Read more