Many of the speakers at this year's World Economic Forum in Davos, including Kenneth Rogoff, Professor of Economics at Harvard University, have claimed that crypto is “too small” for regulation. Kenneth Rogoff stated: I’ve spoken to the regulators and they very candidly say, ‘Well, there isn't really that much value going on in the [cryptocurrency]…
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For the first time, a judge in South Korea has stepped forward and handed out sentences to two crypto executives for falsifying exchange volume reports and profiting from internal wash trades. The two executives hail from the Komid exchange in South Korea, although one individual is also the CEO of fledgling coin system by the…
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In many respects, the world of cryptocurrencies is very reminiscent of the evolution of retail forex trading in the nineties. At that time, every aspect of trading in this new genre was an innovative adaptation of existing technologies, but with an entirely different look and feel. Regulatory agencies around the globe were unprepared for what…
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Not every government official across the globe contends that cryptocurrencies are the scourge of the earth. In fact, there are many of those in and out of authority that have spoken out from time to time in support of digital currencies and have been critical of government agencies that are stifling innovation. One such individual…
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The UK Financial Conduct Authority (FCA) has put out details of the cloned firm Bitcoin FX Option. Fraudsters are using the details of firms, authorised by the FCA, to try to convince people that they work for a genuine, authorised firm. Fraudsters are using or giving out the following details as part of their tactics…
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Government officials for developed countries have had major problems when having to adjust to the reality of cryptocurrencies in the past few years. Countries with developing economies, however, tend to be more fragile, sensitive to change, and have overreacted on many occasions. China has banned cryptocurrencies. India has what amounts to a “quasi-ban” since its…
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When it comes to fulfilling their responsibilities related to the new world of virtual assets, regulators across the world are caught between a rock and a hard place. Protecting consumers from fraud can be exceedingly difficult when current regulations on the books cannot be easily applied to the crypto ecosphere. The European Securities and Markets…
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India can definitely be called "anti-cryptocurrency". Indian banks are now forcing their clients to "promise" not to use Bitcoin. The regulations come from the Reserve Bank of India. Indian banks are "forcing" their clients to sign a contract that says that they will not be using Bitcoin or any other cryptocurrencies. In addition, banks in…
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Thailand is following in the footsteps of Japan, when it comes to regulating the cryptocurrency industry. Thailand has recently issued its very first licenses to four cryptocurrency exchange applicants. The Security and Exchange Commission in Thailand has already granted four licenses to Bitcoin Co, Satang Corporation, Bitkub Oline Co ltd and Coins TH Co. The…
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The Autorité des marchés (AMF) has just warned the public against the activities of several unauthorised crypto websites. The regulator, along with the Autorité de contrôle prudentiel et de resolution (ACPR), have published a list of these websites and entities offering trading of investments on cryptocurrency derivatives without authorisation in France. The list can be…
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