Bitcoin Regulation Remains on Agenda for California Agency
The California Department of Business Oversight (DBO) released conflicting statements today regarding how bitcoin regulation will move forward in the most populous US state. In statements to Bloomberg, the DBO stated that it had elected not to exercise its authority to regulate bitcoin and digital currencies, instead passing this determination to the state legislature. DBO spokesperson Tom Dresslar explained his department's decision in conversation with Bloomberg, first stating that he believed that the legislature would be best suited to draft a regulatory regime in the best interest of....
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Following the BitLicense framework in New York, another US state is considering implementing legislation for bitcoin legislation. According to the California Department of Business Oversight (DBO), it has decided not to exercise its authority to regulate bitcoin and digital currencies. Instead, the agency will leave this up to state legislature. However, DBO spokesperson Tom Dresslar said that they haven't finalized their decision. "We're still in the process of how or if at all to regulate virtual currency business under our current statutory scheme," he explained. California Bitcoin....
Although home to a sizeable majority of the burgeoning bitcoin industry, California has been relatively quiet on the subject of whether it will seek to regulate digital currency businesses. However, this could soon change, according to new statements from California's Department of Business Oversight (DBO), the state's financial services and money transmitters regulator. Speaking to CoinDesk, spokesperson Tom Dresslar confirmed his agency intends to hold a meeting in mid-December that could determine if and when California will decide to clarify the actions the bitcoin industry must take....
The U.S. Securities and Exchange Commission (SEC) has released its regulatory agenda which does not mention bitcoin or cryptocurrency regulation. Bitcoin, Cryptocurrencies Not on SEC’s Latest Regulatory Agenda The Office of Information and Regulatory Affairs released the Biden administration’s Spring 2021 Unified Agenda of Regulatory and Deregulatory Actions last week. It details “the actions administrative agencies plan to issue in the near and long term,” which provides “important public notice and transparency about proposed regulatory and deregulatory....
Following New York's BitLicense implementation a few months back, California is now drafting up its own bitcoin regulation as well. Not surprisingly, this drew plenty of opposition among cryptocurrency enthusiasts in the state. Interestingly enough, there is also a split among those criticizing California's bitcoin regulation. Last week, Coin Center executive director Jerry Brito tried to distance his organization from the Electronic Frontier Foundation (EFF) and the Copia Institute. California Bitcoin Regulation Debate. Back when the draft of AB-1326 was filed in the Senate Committee on....
A director at the International Monetary Fund (IMF) says that crypto regulation is “certainly high on the agenda” for India. “We are trying to come up with global standards for #crypto asset regulations. I think that’s important for India to also adopt,” said the IMF official. IMF on Crypto Regulation in India Tobias Adrian, Financial Counselor and Director of the International Monetary Fund (IMF)’s Monetary and Capital Markets Department, discussed India’s crypto regulation in an interview with PTI Tuesday at the annual spring meeting of....