TL;DR: The UK government has published a set of proposals for the regulation of the crypto sector for public consultation. The proposals cover the authorization of crypto firms and the types of requirements to be imposed on them. Importantly,...
The blockchain-cryptocurrency industry has been making waves in the world of finance, disrupting traditional systems and opening up a new world of possibilities. Despite its many benefits, this budding industry is not immune to challenges, the most notable of...
Credit institution licensing is crucial for the public control and oversight of the European financial system. The public will have confidence in the financial system if they know that only authorized institutions are operating. At the same time, licensing...
In the wake of the collapse of TerraUSD, an algorithmic stablecoin, it was widely expected that financial regulators would take swift action to set some ground rules for stablecoins. (See “Terra LUNA 99% Crash: How Did It All Go...
Introduction With success comes accountability. So it is with the crypto sector. As the sector grows in size, importance and sophistication, the United Kingdom’s financial policymakers – government, parliament, and regulatory bodies (such as the Financial Conduct Authority (FCA), ...
On 24 March 2022, the Financial Policy Committee (FPC) of the U.K.'s central bank, the Bank of England (BoE), published a document titled: “Financial Stability in Focus: Cryptoassets and decentralised finance”. In it, the BoE sets out its views...
The United States’ securities regulator, the Securities and Exchange Commission (SEC) has stated that it was postponing its decision on the outcome of the proposal that Grayscale Bitcoin Trust had submitted concerning its spot bitcoin Exchange Traded Fund (ETF)....
Jerome Powell, the United States Federal Reserve Chairman has the opinion that cryptocurrency won't affect the US economy negatively, nor would it lead to a financial instability scenario in the markets. Though he holds this opinion, Powell believes that...
A set of six United States Senators has requested that Janet Yellen, the Treasury Secretary, clarify the conditions linked to crypto taxation that are contained in the infrastructure bill that was signed into law by the President of the...
The Reserve Bank of Australia (RBA) recently published a report on the research on its wholesale Central Bank Digital Currencies (CBDC) project. The report stated the benefits that the project which is based on Distributed Ledger (DLT) technology will...
