Enforcement and adoption: What do UK’s recent regulatory aims for crypto mean?

enforcement-and-adoption:-what-do-uk’s-recent-regulatory-aims-for-crypto-mean?

British regulators intend to amplify the enforcement of crypto and make stablecoins a payment method. In April, the United Kingdom’s Economic and Finance Ministry, also known as Her Majesty’s Treasury, announced its intention to put the United Kingdom at the forefront of technology by bringing stablecoins under the country’s payments regulation — a bold move … Read more

Biden’s pick for Fed vice chair for supervision calls for congressional action on stablecoins

biden’s-pick-for-fed-vice-chair-for-supervision-calls-for-congressional-action-on-stablecoins

Fed nominee Michael Barr said that the government agency potentially releasing a central bank digital currency was an issue that required “a lot more thought and study.” Michael Barr, a law professor and former advisory board member of Ripple Labs who is United States President Joe Biden’s pick for vice chair for supervision at the … Read more

Indian government’s ‘blockchain not crypto’ stance highlights lack of understanding

indian-government’s-‘blockchain-not-crypto’-stance-highlights-lack-of-understanding

India’s “blockchain, not crypto” stance has led to disastrous crypto policies, forcing several thriving crypto firms to relocate. Indian crypto businesses are struggling with the new tax policies as trading volumes have dried up and many established crypto firms are looking to relocate to more crypto-friendly jurisdictions. While many developed countries and even several of … Read more

SEC chair uses crypto enforcement in justification for FY2023 budget

sec-chair-uses-crypto-enforcement-in-justification-for-fy2023-budget

“We’re not trying to grow really significantly, but resources to grow at least six percent to grow our enforcement arm in this space,” said Gary Gensler. Gary Gensler, chair of the United States Securities and Exchange Commission, or SEC, has cited concerns about cryptocurrency enforcement in its budget request for the next fiscal year. In … Read more

Global financial regulators will discuss crypto at G7: Report

global-financial-regulators-will-discuss-crypto-at-g7:-report

Bank of France Governor François Villeroy de Galhau reportedly said that the recent crypto market volatility had been a “wake-up call” for global regulators. Central bank governors and finance ministers from the Group of Seven, or G7, are reportedly planning to discuss the regulation of cryptocurrencies. According to a Tuesday report from Reuters, Bank of … Read more

CBDC activity heats up, but few projects move beyond pilot stage

cbdc-activity-heats-up,-but-few-projects-move-beyond-pilot-stage

Does government-issued digital money pose an existential threat to cryptocurrencies? Probably not, but stablecoin usage could narrow. Government-issued electronic currency seems to be an idea whose time has come.  “More than half of the world’s central banks are now developing digital currencies or running concrete experiments on them,” reported the Bank for International Settlements, or … Read more

Welcome to Mars: I own everything, have total privacy and life has never been better

welcome-to-mars:-i-own-everything,-have-total-privacy-and-life-has-never-been-better

While people on Earth are still expecting decentralized tech mass adoption, for people on Mars decentralization is the only way to organize their, well, everything. This is a parody of the article published by the World Economic Forum titled “Welcome to 2030. I Own Nothing, Have No Privacy And Life Has Never Been Better.” Welcome … Read more

CFTC commissioner appoints senior policy adviser experienced in digital asset regulation

cftc-commissioner-appoints-senior-policy-adviser-experienced-in-digital-asset-regulation

Keaghan Ames worked at Credit Suisse for more than two years as vice president and head of U.S. regulatory policy, which included advising executives on digital assets regulation. In a Friday announcement, Pham said Keaghan Ames will be her counselor and senior policy adviser at the CFTC starting May 23. Ames worked at Credit Suisse … Read more

US Senate confirms Jerome Powell for another four years as Fed chair

us-senate-confirms-jerome-powell-for-another-four-years-as-fed-chair

In a 80–19 vote in the Senate, U.S. lawmakers confirmed Jerome Powell as the next chair of the Federal Reserve System, where he will also serve as a board member until 2028. The United States Senate has confirmed the nomination of Jerome Powell as the chair of the board of governors of the Federal Reserve … Read more

Germany outlines favorable tax guidelines, gains on BTC and ETH sold after a year tax-free

germany-outlines-favorable-tax-guidelines,-gains-on-btc-and-eth-sold-after-a-year-tax-free

Germany’s Finance Ministry has released new cryptocurrency tax guidelines with no tax payable on gains from BTC and ETH sold 12 months after acquisition. The Federal Ministry of Finance (BaFin) published a 24-page document on Tuesday outlining clear income tax rules for cryptocurrency and virtual assets. Tax practitioners, businesses and individual taxpayers now have clear direction … Read more