EU officials sign Markets in Crypto-Assets framework into law
First introduced in 2020, MiCA aims to create a consistent regulatory framework for crypto assets…
EU officials sign Markets in Crypto-Assets framework into law
First introduced in 2020, MiCA aims to create a consistent regulatory framework for crypto assets among the European Union member states. Officials with the European Union have signed the Markets in Crypto-Assets, or MiCA, bill into law following final approval from finance ministers. On May 31, Sweden’s minister for rural affairs, Peter Kullgren, and European…
What Would Happen to Bitcoin If The US Debt Ceiling Cracks (Opinion)
Watch that little blue line on Google Trends for “bitcoin” hit the ceiling if the U.S. defaults on its debt. BTC might suffer at first as markets go risk-off, but could easily shine in another global financial crisis. House Republicans reached a tentative deal with President Joe Biden’s White House over the Memorial Day Weekend….
Bybit Pulls Out of Canada Amid New Crypto Regulations
Popular cryptocurrency exchange Bybit announced it will be exiting the Canadian market, citing recent regulatory developments in the country as the reason behind its decision. The move follows similar decisions made by other exchanges that ceased operations in the North American nation. Starting May 31, new account openings will be unavailable, while existing customers will…
UAE central bank issues AML/CFT guidance for crypto
The Central Bank of the UAE this morning issued new guidance concerning AML and CFT measures for crypto businesses. The guidance outlines the risks arising from dealing with so-called virtual asset and virtual asset service providers (VASPs), taking into account the recommendations of the Financial Action Task Force (FATF), the global watchdog. The new rules…
How to avoid impulse buying and save money instead
Take control of your finances and achieve your financial goals by avoiding impulse buying using budgeting apps. Impulsive purchases can hurt a person’s finances by causing unneeded expenses and depleting reserves. However, by using budgeting applications, people can successfully avoid making impulse purchases and save money instead. This article will look at how budgeting applications…
Indian banks asked ‘to prepare for the future’ with AI and blockchain
Reserve Bank of India Deputy Governor Mahesh Kumar Jain has told Indian bank directors they should “adopt innovative technologies such as AI and blockchain.” A top federal official representing India’s central bank has recommended all banks adopt artificial intelligence and blockchain technology to ensure sustainable growth and stability. At a conference organized by the Reserve…
Hong Kong and UAE central banks collab on crypto rules, fintech development
The two central banks are aiming to align their financial service sectors and said both share “many complementary strengths.” Hong Kong and the United Arab Emirates’ (UAE) central banks are looking to collaborate on cryptocurrency regulations and financial technology development. On May 30, the Hong Kong Monetary Authority (HKMA) said it met with its counterparts…
US CFTC issues letter on digital asset derivatives, clearing compliance in 3 areas
The letter is a reminder, but a highly specific one that is reminiscent of the SEC’s recent custody rule proposal in part. The United States Commodity Futures Trading Commission (CFTC) has issued a staff advisory letter to registered derivatives clearing organizations (DCOs) and DCO applicants, reminding them of the risks associated with expanding the scope…
How the SEC’s Response Affects Coinbase’s Case
The United States Securities and Exchange Commission has ramped up its crypto enforcement efforts in 2023, despite an industry-wide cry for clear rules. Coinbase, the largest crypto exchange in the U.S., decided to take the SEC to court over this perceived lack of clarity on what digital assets constitute securities. But undaunted by the wide range of support that…
BRICS Nations Discuss Expansion Plan as Membership Interest Grows
The BRICS countries are developing guidelines in response to increasing demand from countries seeking to join, according to South Africa’s Foreign Affairs Minister Naledi Pandor. “BRICS is attracting a lot of interest from a number of countries, and our sherpas are working on the concept of how the group can respond to this interest,” she…
