Global regulators have expressed their intentions to go “full steam” on cryptocurrency regulation in a recent virtual regulation meeting. Chairman of the French financial regulator Autorité des Marchés Financiers (AMF), Robert Ophèle, and a member of the Financial Stability Board (FSB) contemplated global cryptocurrency regulation on Wednesday at a virtual conference hosted by Afore Consulting. […]
After a prolonged back and forth on how to handle cryptocurrency, the Russian government and the Central Bank of the Russian Federation have settled to draft a bill recognizing these assets as an “analog of currencies.” That said, the authorities should present a draft on or before February 18. Before now, Russia had remained conflicted […]
With the Nigerian National Assembly debating a bill that could institute a ten-year jail term for Ponzi scheme operators, the leading member of a Nigerian blockchain lobby group, Senator Ihenyen, has called on the House to consider developing a law to regulate the cryptocurrency industry. He noted that an “unregulated crypto space is not in […]
US Securities and Exchange Commission (SEC) Chairman, Gary Gensler, recently stated that financial authorities need to directly regulate cryptocurrency trading avenues. Gensler also indicated that more regulatory frameworks would be put in place this year, boosting optimism over investor protection in the crypto space. Before now, the SEC boss has hammered on the necessity of […]
The Reserve Bank of India (RBI) recently sat for its 592nd meeting of the central bank of directors chaired by RBI Governor Shaktikanta Das. The Central Board is the RBI’s highest decision-making committee. The panel discussed the prevailing domestic and global economic conditions, evolving challenges, and measures to address the lingering economic issues. The directors […]
New reports show that the government of India plans to implement some changes to the controversial crypto bill. The crypto bill—the “Cryptocurrency and Regulation of Official Digital Currency Bill 2021”—falls on a list of legislative items to be considered in the winter session of parliament. According to Business Today on Thursday, a senior government official […]
The Bank of Thailand (BoT) has announced that it could present a comprehensive cryptocurrency industry regulation framework next month. The framework will focus on reducing the risks associated with the cryptocurrency industry and provide better protection for investors. The Governor of Thailand’s apex bank, Sethaput Suthiwartnarueput, noted that the body will release a consultation piece […]
In what looks like opposition to the stance of the Central Bank of Nigeria on cryptocurrencies, a sitting federal minister of the Nigerian government has called for a regulation of the crypto industry, instead of an outright ban or clampdown. Clem Agba, the Minister of State for Budget and National Planning of Nigeria told the […]
As more authorities seek to regulate the cryptocurrency space in their jurisdictions, the International Monetary Fund (IMF) has published a framework for the effective regulation of the crypto sector across the world. The organization noted in a recent blog post that crypto assets have revolutionized the financial world and would continue to do so in […]
