In our “Regulation” section, we cover laws, policies, and regulatory decisions affecting cryptocurrencies and blockchain technologies worldwide. Here you will find updates on government actions, compliance requirements, and legal frameworks shaping the crypto market. Read the “Regulation” section on ForkNews to stay informed about how regulation impacts the digital asset industry.
At the November fintech festival held in Singapore, Christine Lagarde, director of the International Monetary Fund, spoke positively about the idea of creating cryptocurrencies by central banks (CBDCs - Central Bank Digital Currencies). At the event, she highlighted some of the benefits of CBDC, which include financial inclusion, privacy and security.
According to Bloomberg, Wall Street is gradually abandoning the cryptocurrency market. Despite market declines, regulatory issues, and fraud, there was a time when it looked like Wall Street would be able to drive up prices in the crypto asset market.
The public offering (IPO) of the largest miner manufacturer Bitmain may not take place, as the Hong Kong financial market regulator, which must approve the IPO, recently raised concerns about the lack of regulatory framework for the blockchain industry.
On December 20, two US congressmen submitted a bill to the House of Representatives, according to which cryptocurrencies would not be considered securities. The "Token Classification Act of 2018" was introduced by Warren Davidson and Darren Soto and calls for excluding digital currencies from the definition of securities by amending the Securities Act of 1933 and the Securities Exchange Act of 1934.
According to local news source Nikkei, Japan's Financial Services Agency (FSA) intends to issue a license to cryptocurrency exchange Coincheck.
Italian authorities have taken measures to protect local investors by temporarily banning investments in two dubious crypto projects. In a special advisory, the National Commission for Social Affairs (CONSOB) identified a number of websites and Facebook pages where it has banned the sale of potentially counterfeit Bitsurge tokens and Green Energy certificates.
The report provides solutions to problems that are not currently covered by existing laws. Namely: hacking, self-regulation, purported dealers, privacy and margin trading.
The Finnish tax authorities handed over information about 2,700 crypto traders to the Danish tax authorities. According to the press release, they used the Finnish exchange to collectively buy and sell approximately $15.65 million worth of Bitcoin. Some investors traded amounts ranging from $1,105 to $110,450. Most traded in smaller amounts and very few traded in amounts greater than $110,450.
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