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” Bank of England’s PRA raises budget $31M for ‘emerging risks’ like crypto “ The Bank of England’s regulatory arm has raised its budget by $31.6 million (£24.3 million) for the coming financial year saying that costs have increased due to its growing responsibilities and preparations for “emerging risks in the financial system”. According to…
” EU officials considered Bitcoin trading ban to enforce proposed mining ban “ European Union (EU) officials discussed banning Bitcoin trading during a debate on a proposal to ban Proof of Work mining according to documents obtained through a freedom of information request. According to a report, published by German digital culture organization Netzpolitik, officials…
” German banking giant Commerzbank applies for crypto license “ One of the largest banking institutions in Germany has confirmed it applied for a local crypto license earlier this year, marking the first time a major bank has made a move toward cryptocurrencies in the country. A spokesperson from Commerzbank confirmed to local media outlet…
” ‘Let’s build a Europe where Web3 can flourish:’ Crypto companies sign an open letter to EU regulators “ Forty crypto companies cosigned an open letter to the European Parliament, European Commission and other principal EU institutions with a call to ensure common-sense regulation, standardized compliance procedures and an innovation-friendly business environment. An open letter…
” Russian tax authority proposes using crypto as a foreign trade payment tool “ Russia’s Federal Tax Service (FTS) has joined the debate around crypto regulation in Russia with an unexpectedly blunt proposition — to let Russian companies use digital currencies as a payment method when transacting internationally. On April 20, local newspaper Izvestia reported that…
” Russia to include crypto into its tax code: Here is what the rules might look like “ In the last few months, the standoff between the Central Bank of Russia (CBR) and the country’s Ministry of Finance over crypto regulation has become the key regulatory plot for the Russian crypto community to follow. Simultaneously,…
” Half of assessed jurisdictions don’t have ‘adequate laws and regulatory structures’ — FATF “ The Financial Action Task Force, or FATF, reported that many countries, including those with virtual asset service providers (VASPs), are not in compliance with its standards on Combating the Financing of Terrorism (CFT) and Anti-Money Laundering (AML). In a report…
” Indian minister wants global crypto rules to curtail money laundering risk “ Indian Finance Minister Nirmala Sitharaman in her address to the International Monetary Fund called for a global cryptocurrency framework to keep a check on the use of cryptocurrencies for illicit activities. LIVE NOW: A panel discussion on the policy challenges and opportunities…
” Ireland bans political crypto donations on foreign interference fears “ Donations made to political parties using cryptocurrencies will be banned in Ireland under new political integrity laws drafted due to concerns around foreign interference in politics. Amendments proposed by Minister Darragh O’Brien also cover rules around foreign donations, misinformation, and other transparency requirements for…
” BitLicensed Crypto Firms Ordered to Pay Annual Assessment Fees in New York “ The cost of running a crypto business in New York is about to rise with the state government gearing up to require companies holding a BitLicense to pay assessment fees to ensure they’re complying with regulations. The rule was included in…