EU Passes Historic Crypto Regulation, Seeks To Protect Consumers In The Market
On Monday, the much-anticipated Markets in Crypto Assets Regulation (MiCA) bill was enacted. It will concentrate on a coordinated strategy to crypto by all EU members. Because of its significant power consumption, the law originally included an indirect provision to prohibit proof-of-work mining. Many crypto watchdog critics dubbed it a “proposed Bitcoin mining ban in […]
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Governor Andrew Cuomo and the New York Department of Financial Services have officially announced the proposal of the country’s first cyber security regulation to protect consumers and financial institutions. If approved and activated, it will affect any financial license holders in the state, including BitLicense-approved Bitcoin companies. Once the 45-day notice and public comment period passes and the proposal is issued, any regulated financial entities, including Bitcoin companies, will be required by law to: “Establish a cybersecurity program; adopt a written cybersecurity policy;....
Switzerland is Considering Bitcoin. Switzerland: The Swiss Financial Market Supervisory Authority, FINMA, has revised the Collective Investment Schemes Ordnance. This time it includes information and guidelines on Bitcoin. Coming from one of the most conservative and secretive financial systems in the world, this is an indication of Bitcoin's progress. FINMA's role is: "To protect creditors, investors and policy holders and ensure the smooth functioning of the financial markets. Through consistent supervision and predictable regulation, we make an important contribution to safeguarding the....
The Biden administration is reportedly looking to increase oversight of the crypto market with the aim to protect investors and prevent illicit transactions. White House officials, lawmakers, and central bankers have had several meetings on cryptocurrency regulation amid recent price swings of crypto assets. Biden Administration Discussing Crypto Regulation The Biden administration, lawmakers, and central bankers have held numerous meetings amid recent volatility in the crypto market, the Washington Post reported Tuesday. White House officials were briefed by the Treasury Department about....
Financial authorities in Singapore have proposed new regulations designed to protect consumers from risks associated with cryptocurrency investment and trading. The measures, which also aim to expand regulations for stablecoins, will be discussed with the industry before their adoption. Singapore Prepares to Tighten Cryptocurrency Regulations, Limit Public Access to Digital Assets The Monetary Authority of Singapore (MAS) has put forward draft regulations that aim to restrict crypto trading for retail investors with the stated goal of reducing risks for consumers associated with....