Without Unified, Federal Regulations for Digital Currencies, the U.S. Risks Falling Behind
The divided regulatory policies and frameworks on digital currencies, including Bitcoin, in the United States have created an impractical ecosystem for startups to operate in. The country’s state-by-state regulations for money transmission licensing has led to an unclear regulatory framework for digital currencies, with some states, including North....
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Financial authorities in Singapore have proposed new regulations designed to protect consumers from risks associated with cryptocurrency investment and trading. The measures, which also aim to expand regulations for stablecoins, will be discussed with the industry before their adoption. Singapore Prepares to Tighten Cryptocurrency Regulations, Limit Public Access to Digital Assets The Monetary Authority of Singapore (MAS) has put forward draft regulations that aim to restrict crypto trading for retail investors with the stated goal of reducing risks for consumers associated with....
In an effort to warn the public about the risks associated with virtual currencies, USA.gov published a list of Five Things You Should Know About Virtual Currencies. The article aims to simplify what virtual currencies are all about and why people should think about the risks involved before choosing to invest in it. It defines virtual currencies as a digital form of money that can be used for purchasing goods and services typically online and can also be exchanged for other currencies such as the U. S. dollar. Risks of Virtual Currencies. The article also warned that these types of....
OKEx, the global crypto exchange and trading platform is introducing a new experience to its trading community with a Unified Account. As the name suggests, Unified Account is one place from which OKEx users can execute trades across all instruments and manage their portfolios throughout the ecosystem. The OKEx Unified Account, also known as Portfolio […]
Regulators in Texas are sounding the warning alarm when it comes to the use of bitcoin and other digital currencies, a report from The Columbus Dispatch indicates. The state regulators are offering now-commonplace hazards (with all the governments around the world issuing their own warnings) when it comes to the use of these digital currencies: "Digital currencies right now are very, very trendy," Joseph Rotunda, director of enforcement on the Securities Board was quoted as saying. "There's a lot of buzz about them. It's really easy to look at the benefits, the positives of digital....
The Swiss Financial Market Supervisory Authority (FINMA) has released an updated bitcoin factsheet, taking into account the findings of the Federal Council report. The FINMA factsheet outlines regulatory limitations and licensing requirements for bitcoin operators. Depending on the business model, bitcoin businesses may require a banking licence and some activities fall under money laundering regulations. Switzerland's Federal Council has published a report stating that, for the time being, it will not create legislation relating specifically to bitcoin or other digital currencies. The....