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Regulation

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Indonesia’s Regulator Prohibits Financial Firms From Facilitating Crypto Trading

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Indonesia’s Financial Services Authority (OJK) has prohibited financial firms from using, marketing, and/or facilitating crypto trading. The financial regulator also cautioned the public to always beware of fraudulent Ponzi schemes under the guise of crypto. Indonesian Regulator’s Crypto Warning Indonesia’s Financial Services Authority (OJK), the Jakarta-based government agency which regulates the financial services sector, warned … Read more

Crypto Ban Proposed by Bank of Russia Met With Opposition in Parliament, Government

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The central bank’s push for a restrictive policy regarding cryptocurrencies is not gaining support among members of the Russian government, legislature, or law enforcement. A blanket crypto ban, as proposed by the bank, would make a laughingstock of Russia, lawmakers have warned. Bank of Russia’s Hardline Stance on Crypto Rejected by Other Russian Institutions The … Read more

Oman Invites Bids From Firms Interested in Creating Regulatory Framework for Virtual Assets

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Authorities in the Middle Eastern state of Oman have asked specialized companies, interested in helping the country set up a regulatory framework for virtual assets, to submit their proposals. Interested companies need to submit their proposals no later than March 23, 2022. Process Divided Into Two Phases The Oman financial regulator, the Capital Markets Authority … Read more

Myanmar Military Government Proposes to Jail Digital Currency and VPN Users

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Myanmar’s military-ruled government is proposing to enact laws that will see users of virtual private networks (VPN) and digital currencies being jailed for up to three years. In addition, offenders will be made to pay fines of up to $2,800. Draft Bill Open for Comments Myanmar’s military-ruled government is proposing to enact a law that … Read more

SEC Has Taken 97 Crypto Enforcement Actions So Far — Crypto a Top Priority for Chairman Gensler

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The U.S. Securities and Exchange Commission (SEC) has brought 97 cryptocurrency enforcement actions so far. Furthermore, the securities regulator has imposed approximately $2.35 billion in total monetary penalties against digital asset market participants. 97 Crypto Enforcement Actions Cornerstone Research published a report titled “SEC Cryptocurrency Enforcement: 2021 Update” last week. The report analyzes SEC enforcement … Read more

No Developed Nation Bans Cryptocurrencies, Telegram Founder Pavel Durov Warns Russia

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Pavel Durov, founder of the messaging app Telegram, has criticized Bank of Russia’s proposal to impose a blanket ban on a range of crypto-related activities. Such move would stifle high-tech development and chase away blockchain specialists, Durov says. Durov Speaks Out Against Bank of Russia Push for Crypto Ban The cryptocurrency ban proposed by the … Read more

Biden Administration Preparing to Release Government-Wide Crypto Strategy: Report

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The Biden administration is reportedly drafting a government-wide cryptocurrency strategy as an executive order. The directive is expected to be presented to President Joe Biden in the coming weeks. The strategy could be released as soon as next month. US Government-Wide Crypto Strategy The Biden administration is reportedly preparing to release an initial government-wide strategy … Read more

Russia May Allow Crypto Mining and Gold-Backed Stablecoins, Lawmaker Says

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Russia can legalize cryptocurrency mining and stablecoins backed by gold under government control, a high-ranking member of the Russian parliament has suggested. The statement comes after Bank of Russia proposed a wide-ranging ban on the use of cryptocurrencies, and their trading and mining. Mining and Some Stablecoins Can Be Legalized in Russia, Duma Deputy Insists … Read more

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