DeFi Regulation: EU Commission Report Suggests Reconsideration Of Regulatory Approach
The report emphasizes the potential of DeFi for lower financial audit costs and significant opportunities for cross-border financial integration. Analysts from the European Commission demonstrated an unexpected understanding of how decentralized finances (DeFi) work, having defined it as distinct from the traditional financial system and acknowledging that it would necessitate a rethinking of regulatory approaches. […]
Uzbekistan’s President Issues Decree To Regulate Crypto Industry
The Republic of Uzbekistan is preparing to implement a new cryptocurrency regulatory framework, which will include a 7.5 percent income tax on crypto-related salaries. The Republic of Uzbekistan is moving forward with local cryptocurrency regulations, with Uzbek President Shavkat Mirziyoyev issuing a new decree governing the industry. The new decree, which was issued on Wednesday, […]
Belgium’s FSMA Plans To Regulate Crypto Exchange Services
Crypto exchanges must meet seven requirements of FSMA, including being organized as a corporation with a minimum capital of USD 52,725 (EUR 50,000). A new rule imposed by Belgium’s financial regulatory agency, the Financial Services and Markets Authority (FSMA), will now require crypto exchanges and custodial wallet services in the region to register within a […]
New York State Orders BitLicensed Crypto Firms To Pay Annual Assessment Fees
The fees will be comparable to those paid by banks and insurance companies, allowing the state to recoup operating expenses and support the virtual currency industry. The cost of operating a crypto business in New York is about to increase, as the state government is preparing to require BitLicense holders to pay assessment fees to […]
Congressmen seek clarity from SEC chief Gensler, on crypto regulations
Congressmen Warren Davidson, Tom Emmer, Ted Budd, Anthony Gonzalez, and Trey Hollingsworth have written to the US SEC Chair, requesting clarification on crypto regulations. The news follows a Bloomberg piece that discussed the SEC’s “significant jurisdiction” over tokens like Tether. It had suggested, citing sources, that the US Treasury’s next regulatory report will establish the […]