Browsing: Crypto regulation

Hong Kong warns crypto firms against using the word “bank” The Hong Kong Monetary Authority (HKMA) says only licensed banks can take “deposits.” Using terms such as digital bank, crypto bank and crypto asset bank contravenes the Banking Ordinance. The Hong Kong Monetary Authority (HKMA) has warned crypto firms that it’s against the law for

SEC delayed its decision this week on applications for a Bitcoin ETF. Former SEC chair Jay Clayton talked Bitcoin ETF with CNBC on Friday. The world’s largest cryptocurrency is down 18% versus its YTD high. The U.S. Securities and Exchange Commission delayed its decision on a bunch of applications for a Bitcoin ETF this week.

Binance says new guidance on stablecoins has made it untenable to continue operating in the country. New rules required exchanges to seek approval before allowing their customers to buy or deposit stablecoins. The exchange says it will continue to engage regulators even if it doesn’t agree with new guidance. Binance, the world’s largest crypto exchange

The Yearn Finance founder suggested that several cracks have shown in the crypto sector this year, and that regulation is needed to “reign in irresponsible actors.” Respected former decentralized finance (DeFi) project founder and developer Andre Cronje has resurfaced after a lengthy hiatus to call for tighter regulations on the crypto sector amid the implosion

The SEC’s “crypto mom” Hester Peirce has said the regulatory “movement” around stablecoins needs to allow for “trial and error” and room for failure. Commissioner Hester Peirce — also known as the Securities and Exchange Commission’s (SECs) “crypto mom” — has backed a regulatory framework for stablecoins that allows “room for there to be failure.”Speaking…

The fees will bring virtual currency companies on par with those paid by banking and insurance institutions as a way for the state to recoup operating expense costs and “best support” the industry. The cost of running a crypto business in New York is about to rise with the state government gearing up to require…