Policy

Arkansas seeks to protect BTC miners with new bill

coingeek 2023-04-12 46064 views Policy

While New York and Texas turn their back on block reward miners, Arkansas is taking a different approach, with legislators in the southern state passing a bill that seeks to regulate the industry and protect miners. Last week, the Arkansas...

Elizabeth Warren’s Bill Aims to End Crypto Industry in the US

coinwire 2023-03-30 53132 views Policy

Senator Elizabeth Warren of Massachusetts is not through with the crypto business, as she is now aiming to increase Americans’ reliance on large banks through her proposed bill. The First Attempt Previously, Warren promised to resubmit the Digital Assets Anti-Money Laundering Act, a measure that failed when she initially sponsored it alongside Kansas Senator Roger Marshall in the fourth quarter of 2022. Although the claimed proposal clearly stated that its major goal is to protect Americans from scams, it was also noted that it wanted to force cryptocurrency businesses overseas and weaken consumer choice. This is because it forbids the use of digital asset mixers and requires self-hosted wallets, as well as miners and validators, to have anti-money laundering procedures.

Judge halts Voyager's sale to Binance.US pending government appeal

coingeek 2023-03-29 35625 views Policy

The latest chapter in the Voyager sale saga saw a federal judge temporarily halt Voyager’s attempt to sell its assets to Binance.US after federal regulators opposed the deal. On March 27, District Judge Jennifer Rearden of the U.S. District Court for the Southern District of New York granted the government’s emergency application for a pause in the sale of Voyager, pending an appeal launched by the U.S. Department of Justice (DoJ) earlier this month—an appeal which had previously been dismissed by bankruptcy Judge Michael Wiles on March 15.

G7 to collaborate on tighter crypto regulation: Report

cointelegraph 2023-03-27 62855 views Policy

Leaders from Japan, the United States, the United Kingdom, Canada, France, Germany and the European Union are expected to outline a global cooperative strategy for digital assets in May. The next G7 meeting might bring a push from the seven biggest democracies for tougher regulations on cryptocurrencies around the world, Kyoto news agency reported on March 25. Together, leaders from Japan, the United States, the United Kingdom, Canada, France, Germany, and the European Union will outline a cooperative strategy to increase crypto transparency and enhance consumer protections, as well as address potential risks to the global financial system, officials told Kyoto. This year’s summit is set to happen in Hiroshima in May.

Biden issues damning economic report for the digital asset industry

coingeek 2023-03-25 56546 views Policy

An economic report delivered by the office of the United States President to Congress makes for difficult reading for digital asset advocates, dismissing the industry’s benefits and listing its risks to consumers, the environment, and the financial system. The newest Economic Report of the President, produced to Congress on March 22, didn’t hold back in its critique of the false promises and risks associated with the digital asset industry while outlining policy moves toward a central bank digital currency (CBDC) and a federal digital payment system.

OKX point to ‘new regulations’ as reason for Canada exit

coingeek 2023-03-23 34015 views Policy

OKX, formerly known as OKEx, has announced that it’s exiting the Canadian market. The exchange blamed new regulations for the departure while reassuring users that their funds would be safe. “We regret to inform you that, due to new regulations, OKX will no longer provide services or allow users to open new accounts in Canada starting on March 24,” read the announcement sent by the digital currency exchange to its Canadian users. Like their counterparts globally, Canadian regulators have been tightening their digital asset regulations in light of last year’s ‘crypto contagion.’ The country was home to thousands of investors whose money was stuck in FTX, prompting the Canadian Securities Administrators (CSA) to renew its focus on Bitcoin regulations.

French lawmakers propose ban on crypto influencer promotions

cointelegraph 2023-03-23 76817 views Policy

According to the proposal, individuals caught violating the prohibitions could face a two-year prison sentence and a 30,000 euro fine. French lawmakers have proposed a ban on the promotion of certain financial products and services by electronic means, including crypto assets, in order to protect consumers from potential risks. The proposed amendment is to Bill no. 790, aimed at combating scams and excesses by influencers on social networks. The amendment also proposes placing a ban on advertising health products, gambling and video games using similar mechanisms.

Taiwan watchdog FSC to assume authority on crypto regulation

cointelegraph 2023-03-21 73982 views Policy

Taiwanese lawmakers reportedly expect to finalize a crypto regulatory framework by the end of March or April at the earliest. The Financial Supervisory Commission of Taiwan (FSC) will become the primary regulator of cryptocurrencies in the island country, according to the head of the authority. FSC chairman Huang Tien-mu has announced that the regulator will assume supervisory authority over the crypto industry in Taiwan, the local United Daily News reported.