UK Lawmakers Favor Regulating Crypto As Financial Instrument
Following the appointment of the new prime minister in the UK, who is a pro-crypto-enthusiast, the lower parliament house of the state assembly votes in favour of regulating virtual assets as per the Financial Services and Markets Bill. Lawmakers favoured the amendments to the bill that the parliamentarian Andrew Griffith presented on October 25. The […]
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Russia is moving to regulate cryptocurrency mining after legitimizing the broader crypto industry in January. As Russian cryptocurrency advocates are working to attract global crypto mining operators, local lawmakers have gotten more serious about regulating the industry.Anatoly Aksakov, chairman of the Russian State Duma Committee on Financial Markets, claimed that Russian lawmakers are now considering recognizing the crypto mining industry as a form of entrepreneurship under local business laws, TASS news agency reported Sept. 8.“As this [crypto mining] is a type of entrepreneurial....
The leader of the Nigerian blockchain association, Senator Ihenyen, has implored the country’s lawmakers — currently pushing for the securities law to be revamped — to consider crafting laws that regulate the crypto industry.
Proposed Law Does Not Expressly Mention Cryptocurrencies
As Nigerian lawmakers debate a bill that proposes a ten-year jail term for operators of Ponzi schemes, a leader of a Nigerian blockchain lobby group, Senator Ihenyen, has urged the country’s lawmakers to consider crafting a law to govern the cryptocurrency industry. He....
U.S. lawmakers have raised concerns about the revolving door between financial regulators and the crypto industry. “Over 200 government officials have moved between public service and crypto firms,” the lawmakers said, adding that they include 31 Treasury Department officials and 28 Securities and Exchange Commission (SEC) officials. Revolving Door Between Financial Regulators, Like SEC, and Crypto Industry Five U.S. lawmakers have sent a letter to seven financial regulators inquiring about measures they are taking to prevent the revolving door between their agencies and the....
Poland's deputy finance minister Wojciech Kowalczyk has released a document confirming that under the country's existing financial regulations, bitcoin can be considered a financial instrument. The statement follows a previous inquiry from Michal Pacholski, an opposition member of Parliament for the liberal Twoj Ruch (Your Movement) party. At the time, Pacholski asked Poland's Ministry of Finance to explain the legal status of bitcoin transactions. Specifically, his query focused on whether or not "options and futures contracts can be considered as a financial instrument" if they are....
Panamanian lawmakers will start to analyze a draft bill that seeks to regulate cryptocurrencies in the nation. Local deputy (MP) Rolando Rodríguez presented the bill to the Commerce Commission of Panama’s National Assembly. Draft Bill’s Author: Panama Is Lagging Behind Other Countries in the Matter According to La Estrella de Panama, the MP is advocating to pursue an agenda focused on digitalizing the Panamanian economy. He believes in the urgent need to regulate the country’s crypto environment, as the ecosystem “favors” the economy’s growth.....