Bank of England Says Crypto Rules A ‘Matter of Urgency’
Sir Jon Cunliffe, the Deputy Governor for Financial Stability at the Bank of England, has issued several recommendations on creating a stable crypto climate. The executive stated that a crash in cryptocurrency prices was “plausible” and that rules regarding crypto assets
Binance To Halt Services In Singapore
Binance, the largest cryptocurrency exchange in terms of trading volumes, has faced a compliance crackdown from different regulators. Following compliance issues in Singapore, the exchange has announced that it will no longer extend its services in the country. In the recent announcement,
F2Pool No Longer Allowing Chinese Miners
https://twitter.com/btcinchina/status/1442515665806508039 The fallout from the latest round of Chinese FUD continues as F2Pool, one of the largest Bitcoin mining pools, has announced that it will no longer accept the participation of Chinese miners. According to the announcement, the existing Chinese miners on
China Based Ethereum Mining Pool Set To Shut Down
SparkPool, the second-largest Ethereum mining pool globally, has announced the suspension of its operations. The announcement comes after a fresh wave of Chinese crackdowns on the crypto market. SparkPool was created in 2018 and it contributes to 22% of Ethereum's mining
SEC Chair Advocates For Crypto to Exist Within Public Policies
The Chief of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, has stated that digital assets cannot exist outside the public policy framework. According to Gensler, the finance sector is all about trust and for this reason, crypto assets need
18 U.S. Congressional Bills on Digital Assets in 2021
The regulatory framework surrounding digital assets in the United States has greatly changed this year. Jason Brett, a former Federal Deposit Insurance Corporation (FDIC) regulator, has stated that lawmakers in the U.S. have shifted their focus from private stablecoins and are
Coinbase Warns Crypto Provisions of Bill Will Affect 60 Million Americans
Coinbase’s Global VP of Tax, Lawrence Zlatkin, has come out to criticize the cryptocurrency provisions contained within the Congress bipartisan infrastructure bill. Zlatkin stated that the hasty decision by lawmakers to include the crypto provisions could affect 60 Million U.S. citizens. Zlatkin
CFTC Commissioner Says SEC Has No Authority Over Crypto
https://twitter.com/CFTCquintenz/status/1422912721637580803 The Commodity Futures Trading Commission (CFTC) has stated that cryptocurrency regulations do not fall under U.S. Securities and Exchange Commission (SEC) oversight. The CFTC argument comes as the SEC looks for ways to gain more control over the crypto market. In
South Korean Crypto Exchanges Close as Compliance Deadline Nears
South Korea’s financial market regulator, the Financial Service Commission (FSC), has reportedly shut down 11 mid-sized crypto exchanges in the country. The names of the affected exchanges have not been disclosed. The exchanges shut down in the ongoing crackdown are those
China Orders Closure of Software Company For Crypto Trading
China’s Central Bank has ordered the closure of a software company based in Beijing for allegedly involving itself with crypto trading. The recent announcement seeks to enforce the crypto restrictions imposed in the country. Authorities in the country ordered the immediate