Category: Regulation

January 28, 2020 BY Steffy Bogdanova

5 most impactful crypto regulations of 2019

Digital currencies and distributed ledger technologies (DLT) have been faced with continuous change and fluctuation in their legislative environment in recent years, Forbes reports. Electronic money was not always as popular as it is today upheld only technologists and Libertarian in the beginning. This changed as cryptocurrencies and blockchain technology spiked interest and powered up…

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Singapore fx
January 28, 2020 BY Mariela Naydenova

MAS introduces new PSA framework for the crypto sector

The financial regulator in Singapore, the Monetary Authority (MAS) has just announced the introduction of the Payment Services Act (PSA), which aims to serve as the new regulatory framework for cryptocurrency payments. The new framework will promote and boost the consumer confidence in transaction with digital assets, believes the regulator. The legislation was passed in…

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asic warning
January 16, 2020 BY Mariela Naydenova

The first warning about IEOs by the US SEC is out

The SEC has issued its first warning regarding Initial Exchange Offerings (IEOs), potentially decreasing any future interest in cryptocurrency offerings on exchanges. The SEC is urging investors to be careful about any "promises" made in regards to IEOs. This is what the US financial watchdog said to the general public: Claims of new technologies and…

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Japan
January 13, 2020 BY Mariela Naydenova

Japan's FSA puts margin trading limits on crypto exchanges

While Japan may be one of the most progressive cryptocurrency countries in the world, recognising digital currencies as official method of payment, the Japanese Financial Services Agency (FSA) is now taking steps to put imminent trading limits on cryptocurrency exchanges in the country. The leverage is to be maxed at twice the deposits of traders.…

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January 06, 2020 BY Mariela Naydenova

Qatar bans crypto services in the country

The Qatar Financial Centre (QFC), the country's financial regulator, has banned cryptocurrency trading. Not only that, but the prohibition applies to anything of value that is close to or a substitute for currency, can be digitally transferred or traded and be sued for investment or payment purposes for clients. The news comes from a report…

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December 27, 2019 BY Mariela Naydenova

Uzbekistan bans its citizens from purchasing cryptocurrencies

Uzbekistan has allegedly banned its citizens from buying cryptocurrencies. According to local news media Novosti Uzbekistana, it was the National Project Management Agency that has barred its citizens from buying digital coins, even ones on established exchanges. The news comes out as a shock to many, especially since Uzbekistan was thought of "crypto friendly" place. For example,…

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ECB rate move
December 26, 2019 BY Mariela Naydenova

ECB proposes "Controllable Anonymity" crypto payment system

The European Central Bank has proposed a new model to deal with cryptocurrencies, especially the AML risks associated with them. The ECB also clarified that it it not looking to creating its own coin. The new proposed payment system is called EUROchain and is a simplified CBDC payment type of service. Under this new model, all…

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December 23, 2019 BY Mariela Naydenova

ASIC secures regulatory proceedings against USGFX representatives

The Australian Securities & Investments Commission (ASIC) has announced that the Federal Court in Sydney has issues asset restraint orders against Corporate Authorised Representatives of OTC derivatives provider USGFX, or Union Standard International Group Pty Ltd. ASIC has sought to issue the restraint orders in order to protect customers while an investigation against USGFX is underway. The Federal…

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