Crypto Exchanges Brace For EU Power Shift Toward Central Regulation
Europe’s plan to centralize oversight of crypto and major market infrastructure has sparked a sharp debate across the bloc. According to a Financial Times report, the European Commission is preparing a package that could give a Paris-based regulator new powers over stock exchanges, crypto platforms and clearing houses. Related Reading: Sen. Warren’s Lawyer Dismisses CZ’s […]
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The Philippines’ central bank, the Bangko Sentral ng Pilipinas (BSP), has expanded the country’s cryptocurrency regulation after seeing “accelerated growth” in the use of crypto exchanges. The new regulatory framework is in line with the guidelines recommended by the Financial Action Task Force (FATF), according to the central bank. Philippine Central Bank Introduces New Rules for Crypto Service Providers The Bangko Sentral ng Pilipinas (BSP), the Philippines’ central bank, announced Tuesday that it has established new guidelines on virtual asset service....
The European Union (EU) is reportedly planning to shift oversight power of key financial market areas, including crypto, from national authorities to a centralized supervisory authority to help boost the bloc’s capital markets and harmonize regulation. Related Reading: A New Era Of Fair Finance? GENIUS Act, Stablecoins Could End Bank Exploitation, Expert Says EU Eyes […]
The Turkish government is reportedly creating a regulatory framework for cryptocurrencies after two crypto exchanges in the country abruptly halted trading and are now being investigated for fraud. The government is reportedly planning to establish a central custodian bank among other initiatives. The Turkish government is working on cryptocurrency regulation. Bloomberg reported on Tuesday that “The government is planning to establish a central custodian bank to eliminate counterparty risk,” citing a senior official familiar with the plans. The Treasury & Finance Ministry,....
The deadline for crypto exchanges and service providers in South Korea to meet requirements to stay open under the new regulation has passed. Twenty-nine cryptocurrency exchanges met the deadline to continue operations but only four of them can offer trading in Korean won.
New South Korean Crypto Regulation in Effect
The Act on Reporting and Using Specified Financial Transaction Information requires crypto exchanges to obtain Information Security Management System (ISMS) certification and submit a report to the country’s Financial Intelligence Unit (FIU) by midnight on....
The Moroccan central bank is presently working on a cryptocurrency regulation framework bill and according to the bank’s governor, Abdellatif Jouahri, this is set to be introduced soon. The regulatory framework being worked on will result in Morocco’s money laundering and anti-terrorism financing regulations being upgraded.
Crypto Regulation Best Practices
A Moroccan central bank committee is working to put in place an appropriate regulatory framework for cryptocurrencies, Bank Al-Maghrib (BAM) governor Abdellatif Jouahri has reportedly said. The governor also....