Search Results for: regulate

Russia’s Finance Ministry Submits Bill to Legalize Crypto Investments, Ban Payments

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Russian Ministry of Finance has prepared and submitted a new bill to expand crypto regulations to the government. The law “On Digital Currency” aims to introduce rules for investment in cryptocurrencies while at the same time cementing a ban on their…

President of Central Bank of Peru Criticizes Crypto, Citing Lack of Intrinsic Value and Climate Change

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Julio Velarde, the president of the Central Bank of Peru, attacked the value of cryptocurrencies and referred to negative effects they are said to have on the environment. In a recent interview with local media, Velarde said the Bank did not…

Crypto Exchange Binance Joins Expert Center at Russian Banks Association

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Digital asset exchange Binance has become the first crypto company to support the Association of Banks of Russia in efforts devoted to regulating the country’s growing cryptocurrency market. The coin trading platform will also work with authorities in Moscow as they…

Russia Adopts Law Allowing State to Seize Illegal Funds, Digital Assets From Officials

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The State Duma of Russia, the lower house of parliament, has passed a law permitting law enforcement authorities to seek confiscation of illegally obtained funds from government officials, including cryptocurrency. The state may attempt to seize the assets through court if…

RBI Deputy Governor: Banning Crypto Is ‘Most Advisable’ for India, Regulation Is ‘Futile’

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A deputy governor of India’s central bank, the Reserve Bank of India (RBI), likens cryptocurrencies to Ponzi schemes, emphasizing that they cannot be regulated. “It would be futile to regulate cryptocurrencies,” he claims, stating that they should be banned. RBI’s Deputy…

Switzerland’s Largest Bank UBS Expects US Crypto Legislation to Take Time

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Switzerland’s largest bank, UBS, expects the United States Congress to take a long time to pass cryptocurrency legislation despite mounting interest in crypto investments and regulators calling for Congress to weigh in on crypto legislation. Congress Could Take a Long Time…

Hungary’s Central Bank Governor Calls for EU-Wide Ban on Cryptocurrency Trading and Mining

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The governor of Hungary’s central bank has called for a ban on cryptocurrency trading and mining in the European Union. “It is clear-cut that cryptocurrencies could service illegal activities and tend to build up financial pyramids,” he said. Hungarian Central Bank…

Hungary’s Central Bank Governor Calls for EU-Wide Ban on Cryptocurrency Trading and Mining

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The governor of Hungary’s central bank has called for a ban on cryptocurrency trading and mining in the European Union. “It is clear-cut that cryptocurrencies could service illegal activities and tend to build up financial pyramids,” he said. Hungarian Central Bank…

Ricardo Salinas Pliego Hints at Elektra Group Selling Bitcoin in Its Stores

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Ricardo Salinas Pliego, president of the Salinas Group, owner of the Elektra Group stores, hinted at the possibility of the shops selling bitcoin. The executive stated that due to the regulations of the Central Bank of Mexico, his company cannot implement…

17 Crypto Firms Form a Market Integrity Coalition Aimed at Bolstering a Sensibly-Regulated Industry

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On February 7, 2022, a group of 17 digital asset companies revealed they formed an organization called the Crypto Market Integrity Coalition (CMIC). The well-known firms include crypto companies like Coinbase, Circle Internet Financial, Huobi Tech, Bitmex, Cryptocompare, and Solidus Labs….