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“# Democratic lawmakers have formed group to address regulatory concerns around crypto ” Maxine Waters, who represents California’s 43rd congressional district in the U.S. Congress, said she had organized a group of Democratic lawmakers for a deep dive on cryptocurrencies and central bank digital currencies. In a Tuesday virtual hearing of the U.S. House of…
“# El Salvador reportedly weighing paying employees in Bitcoin ” Rolando Castro, the Minister of Labor and Social Welfare in El Salvador has said that the government is discussing whether companies in the country should pay their employees in Bitcoin. According to local radio station 107.7 Fuego GMV, Castro has discussed the issue of employers…
“# Russian central bank ‘short-sighted’ regarding crypto, lawmaker says ” A Russian State Duma member has blasted the central bank’s tough stance on the cryptocurrency industry for ignoring the growing demand for crypto in the country. Fedot Tumusov, a member of the “A Just Russia” party representing the Siberian region of Yakutsk, has criticized the…
“# ‘Bitcoin is not an asset that is designed to be leveraged’ says Caitlin Long ” All eyes are on Bitcoin (BTC), as the largest cryptocurrency shot up past $40,000 on June 14. Unsurprisingly, the price increase happened shortly after Tesla CEO Elon Musk tweeted that the electric-car company would potentially accept BTC payments once…
“# South Korea’s small crypto exchanges face increasing regulatory heat ” Authorities in South Korea are continuing to propose and enact measures aimed at maintaining strict oversight over the nation’s crypto exchange market. These come amid a significant uptick in cryptocurrency trading volume, especially for altcoins. In May, South Korea’s Financial Services Commission (FSC) announced…
“# Lack of crypto regulations alarming, says Italy’s stock market regulator ” Paolo Savona, the chairman of the Commissione Nazionale per le Società e la Borsa (Consob) — Italy’s securities regulator — has raised alarms over crypto’s growing popularity in the absence of firm regulatory standards. According to Reuters, Savona made this position known while…
“# Korean banks will need to classify crypto exchange clients as ‘high risk’ ” New rules announced by South Korea’s Financial Services Commission, or FSC, are expected to affect around 60 unauthorized cryptocurrency exchanges in the country, and a new policy for banks will require that they classify any crypto exchange clients as “high risk.”…
“# South Africa to revise national policy position on cryptocurrency ” South Africa’s financial regulators are laying the groundwork for the “phased and structured” regulation of cryptocurrencies. The move presents a reversal of the largely hands-off approach taken for the past seven years and has been driven by increasingly high levels of retail interest in…
“# The Netherlands should regulate crypto instead of banning it, says finance minister ” A cryptocurrency ban is not the right solution for the Netherlands, the country’s finance minister reportedly said after a local official called for a total ban on crypto. The Netherlands should regulate the cryptocurrency market instead of prohibiting its citizens from…
“# Remittance firms hesitant to support BTC despite legal tender law in El Salvador ” Despite El Salvador’s recently passed law mandating Bitcoin as legal tender, local remittance firms are reportedly hesitant to adopt BTC. Speaking to Reuters, Autonomous Research fintech analyst, Kenneth Suchoski, argued that remittance firms are unlikely to launch support for Bitcoin…