Search Results for: should be banned

G20 Finance Chiefs Widely Recognize Crypto Poses Major Financial Stability Risks, Says Indian Central Bank Governor

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The G20 finance ministers and central bank governors recognize that cryptocurrencies pose major risks to financial stability, monetary systems, and cyber security, India’s central bank governor reportedly said. Crypto regulation was among the key topics discussed during the G20 meeting over…

Berkshire’s Charlie Munger Says ‘Ridiculous’ Anybody Would Buy Crypto — ‘It’s an Absolute Horror’

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Warren Buffett’s right-hand man and the vice chairman of Berkshire Hathaway, Charlie Munger, says people who oppose banning cryptocurrencies are “idiots,” adding that it’s “just ridiculous” anybody would buy crypto. He also likened replacing national currencies to replacing air, stating that…

US Lawmaker Suggests ‘Maybe’ Crypto Should Be Banned Citing Bigger Issues Than FTX

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A U.S. senator has suggested that cryptocurrency should “maybe” be banned following the collapse of crypto exchange FTX. However, he acknowledged that banning crypto “is very difficult because it will go offshore and who knows how that will work.” Senator Sherrod…

US Senator: Cryptocurrency Cannot Be Stopped, FTX Collapse Isn’t an Indictment of Crypto

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U.S. Senator Pat Toomey says illegal actions by crypto exchange FTX must be separated “from perfectly lawful and innovative cryptocurrencies.” Emphasizing that “The collapse of FTX is not an indictment of crypto,” he noted that “cryptocurrency cannot be stopped” and “the…

Bank of Russia to Promote Digital Ruble in Foreign Trade as Finance Ministry Pushes for Crypto Option

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Days after the two institutions agreed on the need for cross-border crypto payments, the finance ministry and the central bank of Russia are once again highlighting their different priorities. While the treasury department aims for legalizing cryptocurrency payments in the coming…

OFAC’s Tornado Cash Ban Causes Github Suspensions and the Blacklisting of Crypto Addresses Holding $437M

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On August 8, the ethereum mixing service Tornado Cash, and all the crypto addresses associated with the platform, were officially banned by the U.S. Treasury Department’s Office of Foreign Asset Control (OFAC). Following the ban, the internet hosting service for software…

Wechat to Prohibit Accounts From Providing Some NFT and Crypto Services

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Tencent’s Wechat intends to impose penalties on public accounts facilitating secondary trading of NFTs, a press report has revealed. Accounts offering transaction channels and guidance for cryptocurrencies have also been targeted by the new rule. Popular Chinese App to Impose Restrictions…

Indian Regulator: Crypto’s Decentralized Nature Makes Regulation Challenging

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India’s market regulator, the Securities and Exchange Board of India (SEBI), says the decentralized nature of crypto assets makes consumer protection and regulatory enforcement challenging. SEBI on Crypto Regulation The Securities and Exchange Board of India (SEBI) reportedly told the Parliamentary…

Crypto Businesses Ask 27 EU Finance Ministers to Loosen Disclosure Requirements

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Forty-six European crypto businesses and organizations have asked finance ministers in 27 European countries to loosen some regulatory requirements for the crypto industry. For example, they asked for decentralized finance (defi) projects to be excluded from the requirements to register as…

ETH Mixer Tornado Cash Reveals Blocking OFAC Sanctioned Ethereum Addresses via Chainalysis Oracle Contract

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According to the project’s official Twitter account, Tornado Cash, the ethereum mixing service that allows participants to shuffle ether, is blocking flagged ethereum addresses listed on the Office of Foreign Assets Control’s (OFAC) Specially Designated Nationals And Blocked Persons list (SDN)….