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According to the U.S. lawmakers, the infrastructure law contains an “overly-broad interpretation” of what a broker is and places the reporting burden on individuals who may not have the necessary information to comply. Go to Source Powered by WPeMatico
“Stablecoins can certainly be a useful, efficient consumer-serving part of the financial system if they’re properly regulated,” said Jerome Powell. Go to Source Powered by WPeMatico
The Tanzanian central bank governor recently revealed that cryptocurrencies are not outlawed in the country but warned those dabbling in crypto-related investments that they do so at their own risk. Central Bank Open to Ideas The governor of the Bank of Tanzania (BOT), Florens Luoga, recently stated that the central bank has not outlawed cryptocurrencies … Read more
Russia’s central bank intends to prohibit mutual funds from acquiring crypto assets or related financial instruments. The proposal, which is in line with its hard line stance on decentralized digital money, comes after the regulator urged stock exchanges to avoid trading securities tied to cryptocurrencies. Central Bank of Russia Issues Draft Directive Banning Crypto Investments … Read more
Bank of England’s deputy governor for financial stability, Sir Jon Cunliffe, has warned that the price of cryptocurrencies, including bitcoin, could fall to zero. Noting that the crypto industry is “growing very fast,” he stressed: “We really need to roll our sleeves up and get on with it, so that by the time this becomes … Read more
Every witness who appeared in front of the committee seemed to have their own rallying cry for U.S. lawmakers, from calling for greater KYC/AML compliance to “avoid policies that encourage the growth of stablecoins.” Go to Source Powered by WPeMatico
The U.S. lawmaker claimed that the value of stablecoins would “take a nosedive,” with small investors largely feeling the effects of a potential downturn. Go to Source Powered by WPeMatico
A minister in the Nigerian government has called on authorities in the country to consider regulating cryptocurrencies instead of clamping down on them. The Law Does Not Stipulate Who Regulates Cryptos In what appears to be a rebuke of the Central Bank of Nigeria (CBN) over its stance on cryptocurrencies, a minister in the Nigerian … Read more
“The Agenda — through its silence on crypto — signals that the market can expect continued questions around the application of our securities laws to this area of increasing investor interest,” said two SEC commissioners. Go to Source Powered by WPeMatico
The Twitter account of Indian Prime Minister Narendra Modi was comprised and a tweet was posted claiming that the government of India has adopted bitcoin as legal tender and purchased 500 coins to distribute to all residents in the country. This hack came at a critical time in India as the government is actively working … Read more