Market-Based Reactions to New Bitcoin Regulation
Every action has a reaction, and the world of government regulation is no different. Recently, the regulatory chatter has picked up around Bitcoin and it appears to be focused on two major mandates as perceived by the financial regulators. Number one is the attempt to apply invasive technology-specific money transmitter regulation to a technology that doesn't seem to fit into any of their other regulatory boxes. Licenses are being crafted to ensure the same level of AML (Anti-Money Laundering) and KYC (Know Your Customer) guidelines for bitcoin companies as for other types of existing....
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A proposed California law to regulate virtual currency has drawn mixed reactions from industry advocates, in stark contrast to the New York BitLicense that met united industry opposition. AB 1236 sponsored by Assemblyman Matt Dababneh requires virtual currency companies to be licensed. The measure passed the Assembly in June and awaits Senate action. The Electronic Frontier Foundation (EFF), based in San Francisco, has launched a petition opposing the measure. Coin Center, a Washington, D. C. -based group, supports the bill, calling it a cautious and well-researched approach to virtual....
The US Securities and Exchange Commission (SEC) has issued a dire warning to accounting firms conducting audits in the crypto asset space. In a statement released on July 27, SEC Chief Accountant Paul Munter expressed concerns about the potential for misleading information to be presented to investors through non-audit work, which he argued is not […]
As the market hangs on the edge of continued rally or turning over, hawkish or dovish commentary may drive exceedingly volatile market reactions.
The new crypto infrastructure bill going in front of the House has been at the forefront of discussions in the crypto market lately. Regulation continues to be an important topic in the market. As country after country tries to put out regulation in favor of or against crypto. This has so far led to some […]
Reactions from Bitcoin Twitter and beyond as Square puts 1% of its treasury assets into bitcoin.