Top ECB Official Ramps Up Anti-Crypto Rhetoric, Calls for Global Regulations
Comparing the rise of crypto assets to the gold rush, a top executive at the European Central Bank has urged governments to take action to prevent “a lawless frenzy of risk-taking.” Speaking in the U.S., the ECB official called for a global regulatory clampdown on cryptocurrencies and stepping up efforts to issue central bank digital currencies. ECB’s Fabio Panetta Lashes Out at Crypto Assets, Says They Fail to Fulfill Promise A century and half after Americans pushed westward to seek fortune, a growing distrust of banks and technological innovation have led to a new,....
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A proper understanding of cryptocurrencies will eliminate hype and anti-government rhetorics, thereby attracting major players into the industry, says Larry Christopher Bates of BitLand. He believes that there has come a time when some big names within the FinTech industry are beginning to discuss Blockchain in a more serious manner and seem prepared to walk the walk: “I believe the disappearance of anti-government rhetoric has a lot to do with the involvement of big institutions.” Bitcoin was hurt by rhetoric. Bates says that the problem was that 90 percent of crypto was....
Russians who use cryptocurrency should not be anonymous, the man who chairs Russia’s federal investigating authority has recently stated. The official leading efforts to fight corruption in the government called for additional regulations, including the introduction of mandatory identification for those who transact with digital coins. Anti-Corruption Official Pushes for Rules to Mitigate Risks of Using Cryptocurrency for Illicit Purposes Alexander Bastrykin, head of the Investigative Committee of the Russian Federation, believes that people who use cryptocurrencies should not....
The South Korean government seems to be easing its anti-crypto tone, as the Deputy Prime Minister came forward with a statement that opened the doors for future open dialogue on virtual currency topics. Hong Nam-ki unveiled that officials are assessing ways to get young people into “domestic asset markets” and thus bringing more opportunities in that regard. Economic Agenda Also Targets Stock Market Investments With a Focus on Youth According to the statement released by Hankook Ilbo, Hong Nam-ki – who is also the country’s finance minister, said that it’s....
Known for his reluctant stance on decentralized money, the Governor of Bank of England (BOA), Andrew Bailey, has recently taken his anti-crypto rhetoric up a notch. Speaking at a meeting with lawmakers in London, Bailey stated that cryptocurrencies are “dangerous.” Andrew Bailey Remains Sceptical About Cryptos “Crypto-assets,” as the central bank’s official labels bitcoin and the rest, present a danger to the public, Bailey told the British Parliament’s Treasury Committee. The Governor’s statement on Monday reiterates his long-standing concern....
The Turkish government has updated the country’s cryptocurrency regulation following the banning of cryptocurrencies for payments and failing crypto exchanges. Published in the Official Gazette on Saturday, the new rule adds crypto trading platforms to the list of entities covered by anti-money laundering (AML) and Combating the Financing of Terrorism (CFT) regulations. The Official Gazette states that the country’s latest expansion of rules covering cryptocurrency transactions would take immediate effect. Crypto service providers must now comply with existing regulations.....