Basel supervision arm of the BIS expresses risk warnings for cryptoassets LeapRate

March 18, 2019 BY Valentina Kirilova

Basel supervision arm of the BIS expresses risk warnings for cryptoassets

Crypto Winter’s consequences are now reaching global standard setting bodies for the banking establishment. Up to now, crypto related assets have been below the radar, so to speak, from an overall risk perspective, but the Basel Committee on Banking Supervision (BCBS), under the auspices of the Bank for International Settlements (BIS), has sent a directive…

March 11, 2019 BY Valentina Kirilova

FCA: 73% of UK consumers cannot define what cryptocurrency is

The UK’s Financial Conduct Authority (FCA) released two research reports focused on analyzing consumer attitudes towards cryptocurrencies such as Ethereum and Bitcoin. The research teams asked UK consumers to participate in qualitative interviews as well as in a nationwide survey. The qualitative research revealed that consumers could be potentially harmed by crypto assets since many…

March 08, 2019 BY Valentina Kirilova

France is banning these cryptocurrencies

France is not usually under the “cryptocurrency” radar when it comes to hot news about regulation and “innovation”. However, the country may soon be imposing serious bans on several digital coins. According to press, under the French Law, cryptocurrencies such as Bitcoin Private, Monero and Dash could soon be forbidden as a new law is…

February 20, 2019 BY Valentina Kirilova

Canadian regulator BCSC warns against cryptocurrency broker Sussex Investment

Canadian securities regulator the British Columbia Securities Commission (BCSC) issued a warning today against a suspicious entity named Sussex Investment. Sussex Investment is operating via the website https://sussexinvest.com and claims to be a cryptocurrency broker that offers cryptocurrency trading, initial coin offerings and trading in its own shares. Sussex Investment had advertised in British Columbia…

February 20, 2019 BY Valentina Kirilova

CySEC proposes adoption of AML provisions on cryptocurrencies into national law

The Cyprus Securities and Exchange Commission (CySEC) today released a consultative paper proposing that the legal provisions made in the 5th AML Directive (AMLD5) be adopted into the country’s law. Today’s announcement is a result of concerns raised by legal entities dealing in crypto assets whose needs are not being met by the current regulations.…

February 06, 2019 BY Mariela Naydenova

Child abuse images hidden in the blockchain of Bitcoin Satoshi Vision

The blockchain technology is now often abused in different ways. While the technology itself may be solving world’s most important problems such as eliminating labor abuse in African countries, the technology has a long way to go before becoming flawless. Recently, images of child molestation have been found on the core ledger of BSV or…

G20 group adopts tough FATF KYC/AML rules: Debate is how to implement

February 06, 2019 BY Mariela Naydenova

The Philippines create new regulatory framework for DATO

The Philippines are moving forward with their regulatory framework regarding digital asset token offerings (DATO). The information comes from ABACA, or the Asia Blockchain and Crypto Association. The regulations are released by the Cagayan Economic Zone Authority (CEZA) and aim to protect investors and regulate the whole cryptocurrency space in the country. Under the new regulations, issues…

February 06, 2019 BY Mariela Naydenova

PayMon - the gold-backed digital coin of Iranian banks

The idea that Iran is going to launch its very own stablecoin has been around for some time now. The country is undeniably working towards liberalizing its crypto space and embracing the technology of blockchain. Reportedly, Iranian banks have already launched their very own cryptocurrency, called PayMon. It is backed by gold. The four Iranian…

February 04, 2019 BY Valentina Kirilova

Iran central bank removes crypto ban and releases draft regulations

Iranian officials have been working diligently in the background, ostensibly to reverse its general ban on cryptocurrencies and to produce a framework that will mesh well with its plans for a national cryptocurrency, to be backed by the Rial and managed by the central bank. The central bank chose the eve of a national Electronic…

January 30, 2019 BY Valentina Kirilova

FCA warns against SMS Crypto Limited firm

UK financial regulator Financial Conduct Authority (FCA) has issued its latest warning against an unregulated financial services provider targeting UK consumers. The FCA’s latest warning is against the company SMS Crypto Limited. SMS Crypto Limited is not authorised by the FCA but has been targeting people in the UK and is also carrying on regulated…

Category: Regulation