Self-regulatory orgs for crypto keep ecosystem afloat pending clear regulations
In places where crypto has no solid legal framework, self-regulatory organizations act as a ladder for crypto companies to evolve. The crypto market is growing at a rapid pace, with governments and various regulatory bodies actively trying to study and keep up with the growth. While many policymakers around the globe have come to realize that banning the crypto market is not an option, many are yet to come up with a formidable framework to regulate the nascent market in their respective countries.Even some of the most crypto-friendly countries have only managed to regulate parts of the....
Related News
New U.S. President Joe Biden has frozen all agency rulemaking, including the proposal by the Financial Crimes Enforcement Network (FinCEN) relating to cryptocurrency wallets. Biden will appoint someone to “review any new or pending rules,” the White House has announced. FinCEN’s Crypto Wallet Proposal Frozen, Pending Regulatory Review Joe Biden, the 46th president of the United States, has frozen all rulemaking carried over from the previous administration, the White House announced after his inauguration Wednesday. This would include the proposal by the Financial Crimes....
Sharing his opinion around crypto regulations, Buterin spoke against the regulations that have an impact on the inner workings of a crypto ecosystem. The co-founder of Ethereum (ETH), Vitalik Buterin, believes that the crypto ecosystem needs to mature and be in tune with the regulatory policies that allow crypto projects to operate internally freely.Sharing his opinion around crypto regulations, Buterin spoke against the regulations that have an impact on the inner workings of a crypto ecosystem. Considering the current circumstances, he believed it was better to have regulations that....
Leigh Travers feels that a change in Australia’s government will slow down work on crypto regulations that could prove that the industry is already operating at a higher level than traditional finance. As the struggle for regulatory clarity down under rages on, Binance Australia’s CEO Leigh Travers thinks that such a framework will prove the crypto industry “holds itself to a higher standard” than many believe.Travers spoke with Cointelegraph on June 14 about the current state of local crypto regulatory efforts and how the opportunities available in the industry are restricted by the lack....
A recent court decision concerning the status of XRP has revived the conversation on the necessity of clear and thorough regulatory frameworks in the constantly changing world of cryptocurrencies. US Senator Cynthia Lummis, a Republican from Wyoming, has called for immediate action to establish clear crypto rules in response to Judge Analisa Torres’ ruling that […]
Hong Kong, which many consider as the Asian center of financial and technological development, is struggling to see consistent growth in its Fintech and Bitcoin markets. Other Asian countries such as China, Japan, South Korea and Singapore have outcompeted Hong Kong by creating a practical and efficient ecosystem for startups and financial service providers to operate in. Clear policies. China and South Korea in specific have laid out sound regulations and policies within their Fintech and Bitcoin markets, allowing startups and mature corporations to follow a clear regulatory framework to....