Regulating crypto could backfire says UK FCA chairman
Excessive regulation of the crypto sector, according to the chairman of the Financial Conduct Authority (FCA) in the United Kingdom, could backfire, especially in the case of some cryptocurrency tokens. Regulators must strengthen consumer protections for crypto token investors while also keeping in mind that excess could backfire, according to the chair of the Financial […]
Binance replies South Africa regulator on issues of regulation
Binance cryptocurrency exchange has responded to a warning from South Africa’s Financial Sector Conduct Authority by stating that it is in conformity with regulators and is not providing financial advice or services to residents. Binance hinted in a Friday statement that the Financial Sector Conduct Authority , or FSCA, lacked authority because the body did […]
Cuba’s government states it will recognize and regulate cryptocurrencies
In the middle of a storm of protests, Cuba’s government announced that it will recognize—and regulate—cryptocurrencies as a form of payment. According to the Associated Press, Cuba’s government declared yesterday that it will recognize and regulate cryptocurrencies for financial purposes. The declaration came in the form of a resolution, which stated that the country’s central […]
Kyrgyzstan reportedly introduces regulatory framework for crypto exchanges
The Kyrgyzstan Republic’s government is taking steps toward cryptocurrency adoption by establishing a nationwide regulatory framework for crypto trading platforms. According to local news source 24.kg, Kyrgyzstan’s State Service for Regulation and Supervision of Financial Markets (Gosfinnadzor), a regulatory agency under the Ministry of Economy and Finance, has created a draft law for regulating crypto […]
Binance tightens its money-laundering checks
Binance cryptocurrency exchange announced on Friday that it would need stronger background checks on users with immediate effect in order to enhance efforts against money laundering, this may be due to pressure from regulators around the world. Financial regulators from the United Kingdom to Germany to Japan have issued warnings and imposed business restrictions on […]