New York Regulator May Impose Technology Restrictions on Digital Currencies
Two weeks after his agency held extensive hearings on the subject of regulating virtual currencies, New York Department of Financial Services (NYDFS) superintendent of financial services Benjamin Lawsky has issued statements that provide greater insight into the actions the state may take when it seeks to enact bitcoin legislation this year. Most notably, Lawsky indicated that the NYDFS now feels as though existing money transmission regulation will not be sufficient for virtual currency firms. Further, he suggested the NYDFS could move to mandate that all virtual currencies maintain a....
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The dust has settled from the virtual currency hearings in New York City this week. We saw a mixture of speakers, including law enforcement agents warning of digital currencies' many potential dangers, VCs getting hot under the collar over the regulation debate, regulators musing about whether they should license miners or not, and one vehemently anti-bitcoin academic. New York state has almost 20 million people - around 6% of the US population - and houses the heart of its financial services industry. It was a good place for the first state-level inquiry into the regulation of....
Japan’s top financial regulator has asked cryptocurrency exchanges in the country not to process transactions subject to asset-freeze sanctions. The penalty for unauthorized payments to sanctioned persons includes three years in prison.
Japan’s Financial Regulator and Ministry of Finance Ask Crypto Exchanges to Comply With Sanctions Restrictions
Japan’s top financial regulator, the Financial Services Agency (FSA), announced Monday that the country will contribute to international sanctions efforts surrounding Ukraine following its attack by....
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