ECB needs 'globally coordinated regulatory action' on crypto, says official
One of Fabio Panetta’s concerns seemed to be how the ECB and lawmakers address the taxation of cryptoassets, describing current requirements as “minimal." European Central Bank executive board member Fabio Panetta said lawmakers across the world must decide how to regulate cryptocurrencies based on potential risks.In a written statement for a speech to Columbia University on Monday, Panetta said global policymakers had made some progress in addressing regulatory frameworks on digital assets, but “not swiftly enough to keep pace with the emerging challenges.” According to the ECB official,....
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While the calls for globally coordinated regulation for cryptocurrencies is a noble effort, the practicality of the situation is far from ideal. The regulation of cryptocurrencies across the world is a constant battle for investors in a rapidly expanding and constantly changing ecosystem. Various regulatory agencies around the world view digital assets in a different light that vary significantly from one another.Recently, executive board member of the European Central Bank (ECB) Fabio Panetta mentioned in a written statement for a speech to Columbia University that regulators should....
A globally consistent crypto regulatory framework is urgently needed to allow banks to handle crypto assets on behalf of large customers, said a JPMorgan executive. “We need a globally consistent regulatory framework. It’s important that we get to a solution as quickly as possible.” Global Regulatory Framework Urgently Needed to Allow Banks to Offer Crypto Exposure to Clients, Says JPMorgan Debbie Toennies, managing director and head of Regulatory Affairs at global investment bank JPMorgan Chase & Co., talked about global cryptocurrency regulation applicable to banks....
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,....
Right about now, there’s a coordinated attack going on across crypto, but it isn’t targeting Bitcoin. It is targeting cryptocurrency industry journalists, who have little to gain from what they’re being accused of. The situation is yet another reason why crypto needs less mouthpieces like Elon Musk and others who add nothing but memes and […]
Senator Hickenlooper requested the SEC engage with the public by opening a “notice-and-comment period” to develop rules and regulations applicable to crypto. John Hickenlooper, a United States Senator representing Colorado, has penned a letter to Gary Gensler urging the Securities and Exchange Commission chair to establish “clear rules” for the crypto market.In an Oct. 13 letter, Hickenlooper called on the SEC to take action on regulatory issues including identifying the cryptocurrencies that will be considered sasecurities, establishing registration guidelines for trading platforms, and....