Regulation

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Bank of Russia Advises Stock Exchanges to Avoid Trading Crypto Instruments

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In line with its hardline stance on cryptocurrencies, the Central Bank of Russia (CBR) has issued a recommendation against the listing of securities tied to crypto assets on the country’s stock exchanges. The “preventive measure” will not affect state-issued digital currencies. Bank of Russia Worried About Common Investors’ Exposure to Crypto Derivatives Russia’s central banking … Read more

India’s Central Bank RBI Unveils Plan to Launch Digital Currency in Phases

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The deputy governor of the Reserve Bank of India (RBI) has revealed that the central bank is planning to launch a state-backed digital currency in phases so that it would have “little or no disruption to India’s banking or monetary systems.” RBI Plans ‘Phased Implementation’ for Digital Rupee RBI Deputy Governor T. Rabi Sankar talked … Read more

Ukraine Unveils Roadmap to Integrate Cryptocurrencies by 2024

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Government and business representatives have produced a roadmap to transform Ukraine into a leader in cryptocurrency integration. The authors of the new strategy want to see half of Ukrainians using digital currencies by 2024. The East European nation is expected to regulate its crypto space by the end of this year. Strategy for Crypto Market … Read more

Paxos Standard Presents Assets Backing Its Stablecoins

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Paxos, a regulated blockchain company, recently presented the basket of resources that back its stablecoins. Paxos Standard (PAX) and Binance USD (BUSD) are reportedly backed almost 100% by cash and cash equivalents. Dan Burstein, CCO of Paxos, harshly criticized Tether and Circle, issuers of other stablecoins, stating their products we’re not really stablecoins. Paxos Reveals … Read more

South Korean Regulators Warn Dozens of Foreign Exchanges to Comply With New Rules

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Overseas crypto exchanges marketing to Koreans will be blocked if they fail to comply with new South Korean regulations. The country’s anti-money laundering body has sent a notice to a number of foreign trading platforms warning them a registration is mandatory in order to provide services to Korean residents. Korean Financial Intelligence Unit Notifies Foreign … Read more

SEC Chairman Outlines Regulation of Crypto Assets Relating to Security-Based Swaps

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The chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, has clarified how cryptocurrencies falling under security-based swaps are regulated. He affirmed that platforms operating in the centralized or decentralized finance space are implicated by the securities laws. SEC’s Regulatory Approach to Cryptocurrency SEC Chairman Gary Gensler talked about cryptocurrency regulation Wednesday before … Read more