Browsing: Policy & Economy
The Hong Kong Monetary Authority (HKMA) has issued a stern warning to the cryptocurrency industry, cautioning that crypto businesses masquerading as banks and employing banking terminology may find themselves on the wrong side of the region’s banking laws.
The Financial Action Task Force (FATF), an intergovernmental organization formed under the G7 in 1989, introduced the Travel Rule back in 2012, primarily targeting traditional financial institutions.
The central bank of Brazil, Banco Central do Brasil, is gearing up to introduce its very own central bank digital currency (CBDC) named “DREX.”
Brazilian lawmakers have taken a significant step towards regulating the taxation of cryptocurrencies held overseas, as a congressional committee greenlit proposed amendments to an existing bill.
US authorities have approved two crucial bills that could have far-reaching implications for the industry. The bills seek to address jurisdictional differences between the U.S. securities and commodities regulators, while also easing regulatory hurdles for blockchain developers and service providers.
Russia is set to make significant strides in the world of digital currency as President Vladimir Putin signed the digital ruble bill into law, according to an official government document released on July 24.
In a compelling speech delivered at the National Press Club on July 17, Gary Gensler, the Chair of the United States Securities and Exchange Commission (SEC), emphasized the potential benefits of incorporating artificial intelligence (AI) into the agency’s operations.
According to the draft version of South Korea’s crypto accounting supervision guidelines, the FSC has outlined the types of crypto assets that should be reported. This includes fungible assets based on distributed ledger technology or other comparable technologies, as well as assets issued using cryptography.
The core focus of the proposal is to ensure that individuals can readily obtain the Digital Euro through their banks upon request, eliminating any barriers to accessibility and ensuring inclusivity for all citizens.
Deputy Alfredo Gaspar, a member of the Brazilian Chamber of Deputies, has initiated a request to summon Guilherme Haddad, the director of Binance Brazil, to testify before the Brazilian parliament. The summoning is part of an ongoing Parliamentary Commission of Inquiry (CPI) investigation into alleged pyramid schemes within the country.