Category: Regulation

April 09, 2018 BY LeapRate Staff

Cryptocurrency CFDs require license, but not cryptos themselves: FCA

UK financial regulator the FCA has issued an interesting statement indicating that while cryptocurrencies are not currently regulated by the FCA, crypto derivatives - including cryptocurrency CFDs - are. According to the FCA, cryptocurrency derivatives are defined as being "financial instruments" under the Markets in Financial Instruments Directive II (MiFID II), even though the FCA does…

Read more
April 03, 2018 BY Valentina Kirilova

Australian digital currency exchange Independent Reserve now regulated

Independent Reserve, the Australian digital currency exchange, has announced that it has become the first Australian exchange of its kind to be regulated. Independent Reserve is the first exchange to be regulated by the Australian Transaction Reports and Analysis Centre (AUSTRAC). Set up in 1989, AUSTRAC ensures Australian institutions conform to the required standards around…

Read more
fma warns against unregulated company
March 09, 2018 BY Valentina Kirilova

NSSC warns against cryptobank Bitcoin Bank/Bitcoin-bank.io

The Nova Scotia Securities Commission (NSSC) has made an announcement today, alerting Nova Scotians that Bitcoin Bank/Bitcoin-bank.io is not registered to sell securities in Nova Scotia. Bitcoin Bank claims to be a cryptobank that provides financial and investment services. It is soliciting investments in its BTCB coin that it claims to trade on crypto, Forex,…

Read more
France crypto CFD
February 22, 2018 BY LeapRate Staff

France bans ads for cryptocurrency CFDs

France's financial regulator Autorité des marchés financiers (AMF) has issued an opinion that it considers that the offer of cryptocurrency derivatives -i.e., CFDs on cryptocurrencies such as Bitcoin and Ripple - requires authorisation and that it is prohibited to advertise such offer via electronic means. Essentially, by defining crypto CFDs as 'derivatives', the advertising of…

Read more
BCSC warning
February 22, 2018 BY Valentina Kirilova

Canadian regulator BCSC warns against cryptocurrency company Cryp Trade Capital Holdings

Canadian securities regulator the British Columbia Securities Commission (BCSC) has added to its Investment Caution List unregulated cryptocurrency company, named Cryp Trade Capital Holdings SL. The company is operating at https://cryp.trade/. Cryp Trade Capital Holdings SL (Cryp Trade) claims to be located in Alicate, Spain, and offers an online cryptocurrency trading platform and cryptocurrency investment…

Read more
Digix lists on Korean exchange to boost its local market presence
February 20, 2018 BY Mariela Naydenova

Korea's new stance on cryptocurrencies and their regulation

After coming hard on cryptos, Korea has now changed its rigid position on regulation of cryptocurrencies. The Korean financial regulator came with a statement today that the government will support “normal transactions” of digital currencies, just only three weeks of banning trading through anonymous bank accounts. The statement was made by Choe Jeung-sik, the governor…

Read more
February 16, 2018 BY Valentina Kirilova

CFTC warns against pump-and-dump virtual currency schemes

The Commodity Futures Trading Commission (CFTC) has issued a Customer Protection Advisory that warns customers to beware of and avoid pump-and-dump schemes that can occur in thinly traded or new “alternative” virtual currencies, digital coins or tokens. As with many online frauds, this type of scam is not new - it simply deploys an emerging…

Read more
SquaredFinancial launches selected cryptocurrencies offer
February 13, 2018 BY Mariela Naydenova

Thailand to regulate all digital currencies

Thailand has now joined the long list of countries that went against Bitcoin and digital currencies as a whole. According to press, Thailand’s central bank said on Monday, February 12th that it had asked financial institutions not to get involved in cryptocurrency transactions for fear of possible problems from the unregulated trading. What that means…

Read more
bitcoin
February 12, 2018 BY Valentina Kirilova

ESMA warns on cryptocurrencies - volatility, transparency, exit options, disruptions...

The European Securities and Markets Authority (ESMA), the European Banking Authority (EBA) and the European Insurance and Occupational Pensions Authority (EIOPA) (hereafter referred to as ‘the three ESAs’) are warning consumers on the high risks of buying and/or holding so-called Virtual Currencies (VCs). The VCs currently available are a digital representation of value that is…

Read more