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Turkish authorities, alarmed by the spread of cryptocurrencies in the country, are reportedly ramping up efforts to introduce greater oversight into the sector. Local media revealed that regulators are under pressure to increase supervision in 2020 because of the growing popularity of decentralized crypto assets among Turks. Also read: Uzbekistan Bans Citizens From Buying Crypto, … Read more
Regional authorities in the province of Sichuan are reportedly pressuring bitcoin miners to scale down operations amid electricity shortages during the dry season in Southwest China. A meeting has been scheduled with regulators, the state run grid operator and mining companies. Two hydropower stations have been fined already for powering bitcoin farms without authorization. Also … Read more
In this roundup, we cover a wide range of regulatory developments in the crypto space. Much has transpired in the U.S., including a new crypto bill, SEC’s proposal, lawmakers seeking answers from the IRS, and the state of Michigan signing several crypto bills into law. We also cover France’s first-approved initial coin offering, a proposal … Read more
Authorities in Shenzhen have started pressuring crypto businesses operating in China’s tech capital. Eight companies, two suspected operators of trading platforms, and six entities allegedly associated with coin offerings, have been placed under inquiry, Chinese media revealed, with authorities reportedly questioning their representatives at a meeting hosted by Shenzhen Financial Regulatory Bureau. Also read: Crypto … Read more
With stricter new regulations on the horizon for the crypto space around the world, Australians have found that it’s actually their traditional financial institutions that have been breaching well-established anti-money laundering rules and other industry standards this year. Westpac, one of the country’s largest banks, is now under investigation for millions of purported violations of … Read more
The U.S. has many regulators responsible for overseeing different aspects of crypto assets, each with its own stance on how they should be regulated. Major regulators in the U.S. with strong opinions on cryptocurrency include the SEC, the CFTC, the Federal Reserve, Fincen, and the IRS. Also read: Tax Guide: What Crypto Owners Should Know … Read more
Europe is gradually tightening the rules for the crypto space. A wave of new regulations are introducing stricter requirements for companies operating in the industry and cryptocurrency users are going to feel the difference in the coming months. The measures stem from the obligation of member states to transpose EU’s Fifth Anti-Money Laundering Directive (AMLD5) … Read more
On August 1, it was discovered that the giant retail corporation Walmart has patented plans for a stablecoin that’s backed by U.S. dollars. If released into the wild, the USD-based cryptocurrency would be issued to select Walmart retailers and partners while the patent’s description explains the coin could be used outside of Walmart’s retail scope … Read more
Initial coin offerings have seen a significant decline in popularity, but they are not to be written off completely. Although you don’t hear the term “ICO” so often nowadays, some recent regulatory developments indicate they have a place in the digital economy realm. Crowdfunding through token sales has a chance of becoming a mainstream instrument … Read more
Ethereum cofounder Joseph Lubin was recently summoned to court in New York when a former employee initiated a lawsuit for more than $13 million. According to the summons stemming from former Token Foundry CEO, Harrison Hines, relief was being sought for alleged unpaid profits, fraud, unjust enrichment, and breach of contract. Also Read: Another Self-Proclaimed … Read more
