Regulation

Auto Added by WPeMatico

Vietnam Plans to Regulate Digital Currencies After Commissioning a Crypto Research Group

by

Vietnam is treading waters into the cryptocurrency industry, as the government recently commissioned a research group for the purpose. The Vietnamese Ministry of Finance is conducting an in-depth study of cryptocurrencies for regulation purposes. One Million Vietnamese Are Reportedly Crypto Users According to ASEAN Briefing, the ministry seeks to gather enough data to clearly see … Read more

Treasury Secretary Yellen Says US Does Not Have Framework ‘up to the Task’ of Regulating Cryptocurrencies

by

U.S. Treasury Secretary Janet Yellen says that the U.S. does not have an “adequate framework” to deal with all the different issues posed by cryptocurrencies, such as money laundering and illicit financing. According to her, there is no framework that’s “quite up to the task of putting in place a regulatory framework that we need” … Read more

Spain to Share Data of Users From Domestic Crypto Businesses With European Union Countries

by

The Spanish government doesn’t stop imposing its tough stance on cryptocurrencies, as another rule comes to strengthen the existing ones. A royal decree recently enacted aligns current regulations with the European Union’s directives regarding anti-money laundering (AML). Rule Aligns With the European AMLD5 Policies According to the decree published in the state official newsletter, Spanish … Read more

South Korean Ruling Party Contemplates Postponing Crypto Tax in a Bid to Regain Younger Votes

by

South Korean political parties are now battling to catch younger votes amid the tough stance among higher government spheres toward digital currencies. As voters are disappointed by how parties are handling the issue, one of them has taken a step forward by talking about the forthcoming crypto tax. The Democratic Party’s Expectations on Cryptocurrencies According … Read more

Ghana Regulator Labels Crypto Transactions Illegal— Urges People to ‘Stay Away From Them’

by

Ghana’s Securities and Exchange Commission (SEC) recently warned residents of the West African country to avoid cryptocurrency transactions of any form. In the warning, the regulator reiterated that “cryptocurrencies are illegal in the country and are not regulated by the commission hence Ghanaians should stay away from them.” Risks Associated With Crypto In remarks made … Read more

Fed’s Vice Chair for Supervision Calls on Bank Regulators to Pay More Attention to Cryptocurrency

by

The Federal Reserve’s top supervisory official has called on bank regulators to pay more attention to cryptocurrencies and stablecoins. His comments followed a number of major banks announcing that they will be offering products based on cryptocurrencies, particularly bitcoin, to their clients. Bank Regulators Should Focus More on Cryptocurrency, Says Fed Supervisor The Federal Reserve’s … Read more

Venezuelan Crypto Regulator Sunacrip Strengthens AML/KYC Requirements for Virtual Asset Service Providers

by

Sunacrip, the Venezuelan cryptocurrency watchdog, has recently published a new set of AML/KYC requirements for VASPs (Virtual Asset Service Providers) that establishes new and updated rules about the kind of information these providers must require and share with the Venezuelan government, raising alarms in the cryptocurrency community about what the government could do with this … Read more