US State Regulators to Pen First Bitcoin Rule-Book
An ad hoc group of US state regulators - the Emerging Payments Task Force - has begun to draw up the first Bitcoin rule-book according to the head of the group, which aims to protect crypto-currency users from theft and fraud while simultaneously providing much needed guidance amidst the uncertainty and confusion whirling around the nascent industry. Wrapped up in an enigma. To say that the situation regarding Bitcoin in the US is perplexing would be an understatement. First, the IRS’ announced its position on virtual currencies not to regulate Bitcoin as currency but as property implying....
Related News
Reuters, the World news leader in business and financial news, is reporting that a Bitcoin task force of United States regulators has been busy working to put together the first Bitcoin rule-book. The rules will, hopefully, protect the users of bitcoins from fraud while being careful not to dampen down, or smother, what is effectively, still a fledgling technology. Tech 2, an online technology blog also reports that an ever-growing number of companies are willing to accept bitcoins, but since Bitcoin transactions are not centrally regulated, the users of Bitcoin face a maze of rules....
The chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, has reportedly proposed “one rule book” for the regulation of crypto assets. “If this industry is going to take any path forward, it will build some better trust in these markets,” said Gensler.
SEC Chairman Calls for One Rule Book for Crypto
SEC Chairman Gary Gensler has proposed “one rule book” for the regulation of crypto, the Financial Times reported Friday. He is looking to strike agreements with other financial regulators, including the Commodity....
SEC chairman Gary Gensler has reportedly proposed a one rule book approach to regulate all crypto asset trading. Gary Gensler is in direct communication with the regulatory counterparts at Commodities Futures Trading Commission (CFTC). The decision to be in agreement with other financial regulators which include CFTC will help address security concerns and maintain transparency […]
State regulators claim that Robinhood has targeted inexperienced investors. Massachusetts' securities regulator is seeking to revoke the broker-dealer license of cryptocurrency-friendly stock trading app Robinhood in the state.William Galvin, the head of the state’s securities division, said in a new administrative complaint that Robinhood has “continued a pattern of aggressively inducing and enticing trading among its customers — including Massachusetts customers with little or no investment experience,” Bloomberg reports Thursday.The new filing is a follow-up to a complaint filed by....
More state regulators are gunning for the OCC and Brian Brooks, this time over usury laws and predatory lending. Eight states and the District of Columbia are suing the national bank regulator over a rule change that just came into effect.Per a Jan. 5 filing, New York's attorney general is leading the charge against the Office of the Comptroller of the Currency and current Acting Comptroller Brian Brooks. Back in October, the OCC laid out its "True Lender" rule, which took effect at the end of December. The rule dictates that a loan that includes a national bank as a lender can therefore....