The Call For Regulation In the Crypto Sphere
Regulation has always been a real obstacle to mainstream adoption in the crypto arena. The message is coming across very loud and clear from a variety of market participants including Treasury Secretary to the US Janet Yellen who has publicly ripped into Bitcoin calling it an “inefficient way of conducting transactions”. Would she still say that if the US was regulating and reaping rewards from the industry? More recently, the Central Bank of India has […]
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Once known as a hub for crypto verse, specifically in the first decade of Bitcoin’s inception, Japan started to put regulations around the crypto sphere in 2018. Not eager to stifle innovation in the emerging sector, the country’s authorities placed tight trading laws on cryptos. The robbery of 850,000 Bitcoins worth $500 million on Japan’s […]
The G7 finance ministers and central bank governors have called for a swift and comprehensive regulation of crypto assets. The G7 decision followed the recent crypto market turmoil, including the collapse of cryptocurrencies LUNA and UST.
G7 Countries Calling for Swift, Comprehensive Regulation of Crypto Assets
The finance ministers and central bank governors from the Group of Seven (G7) industrialized nations convened in Bonn and Königswinter, Germany, on May 18–20.
Among the topics they discussed was the regulation of crypto assets following the recent....
Sphere 3D will reportedly have the right to assume Hertford's bitcoin mining agreements through six months.
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 of multiple firms this year. The comments echo similar sentiments to that of FTX CEO Sam Bankman-Fried (SBF), who also called for more stringent digital asset industry standards last week, including greater consumer protections,....
Chaos on the crypto market in the wake of the Terra collapse caused a heightened sense of urgency among the ministers to continue regulatory process. The top financial officials from the Group of Seven (G7) largest advanced industrial economies has called on the Financial Stability Board to speed up crypto-asset regulation, Reuters reported Thursday, citing a copy of a communique it had obtained. The officials from Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States were meeting in Koenigswinter, Germany, following a G7 foreign ministers’ meeting earlier in the....