What the past and future mean for regulating bitcoin exchanges in the US
The concept of a bitcoin exchange is not new. There is however a noticeable absence of a reliable, efficient and cheap exchange for conversion. The recent bitcoin price volatility has contributed to a frenzy of mainstream press attention, steering the discussion away from the merits of the payment system, and toward the question of whether there is in fact a bubble and whether bitcoin will cease to exist. Bitcoin supporters tend to agree that more stability against the dollar would spur wider adoption, but that can only be achieved if there are reliable wholesalers to provide liquidity and....
Related News
Things are changing in China as far as Bitcoin exchanges are concerned. Over the course of the past few weeks, China’s central bank has been inspecting and regulating the country’s top cryptocurrency exchanges. The event has caused a significant shift in Chinese Bitcoin trading causing Localbitcoins volumes to grow exponentially while exchanges in China....
The chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, has asked SEC staff to collaborate with the Commodity Futures Trading Commission (CFTC) to develop a new plan to regulate cryptocurrency trading platforms.
SEC Wants to Work With CFTC on Regulating Crypto Exchanges
The chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, talked about the regulation of cryptocurrency Monday at an event hosted by the University of Pennsylvania Carey Law School.
“The SEC’s remit is overseeing the capital....
China is seemingly buying up a lot of Bitcoin and alternative currencies like gold right now. The devaluation of their currency has been slashed over the course of the past month. The country’s Foreign Exchange Commission has ordered financial institutions to increase its checks and balance controls for capital outflow. Currency wars in the region have led to a massive monetary dump as China’s Black Monday looms and looks to a very rough financial week. This has sparked an interest in alternative currency vehicles and China’s buying volume in Bitcoin has increased. Chinese exchanges are....
The African country of Uganda may be regulating bitcoin and other virtual currencies shortly. According to a new report from the United Nations African Institute for the Prevention of Crime and the Treatment of Offenders (UNAFRI) the group is giving guidance on the regulation of virtual currencies within the region. Uganda’s Roundtable Discusses....
The Congress of Colombia has approved a bill that regulates the behavior of cryptocurrency exchanges in the country in its first discussion, taking the first steps to bring clarity to this issue. One of the creators of the bill, Mauricio Toro, a representative of the Green Party, stated that this bill is needed to protect users from Ponzi schemes, giving them security in the crypto world.
Colombia Gets on the Crypto Regulation Road
More and more countries in Latam are realizing the growth and influence crypto and crypto-related businesses are seeing in their territories. Colombia....