Category: Government

US Congressman Announces Plans for Federal Cryptocurrency and ICO Regulation

U.S. Rep. Warren Davidson (R) has announced plans to introduce legislation that would clearly regulate cryptocurrencies and Initial Coin Offerings (ICOs), local Ohio news agency Cleveland.com reports Dec. 3. According to Cleveland.com, Davidson announced his intention to introduce new legislation at the Blockchain Solutions conference. The bill would create an “asset class” for cryptocurrencies and […]

Thai Securities Regulator Considers Various STO Classifications for Regulatory Framework

The deputy secretary of the Thai Securities and Exchanges Commission (Thai SEC) has declared that Thai-related Security Token Offerings (STOs) launched in an international market break the law, English-language daily Bangkok Post reports Nov. 29. The aforementioned article states that deputy secretary Tipsuda Thavaramara “said the regulator will have to consider how to deal with […]

First Blockchain Association in Mexico Established

The first blockchain association in Mexico has formed, its founding members including industry players like blockchain software firm ConsenSys, Forbes Mexico reported Nov. 28. The Blockchain Association of Mexico was established companies Bitso, Volabit, BIVA, GBM, Lvna Capital, ConsenSys and Exponent Capital. The organization’s objective is to educate citizens in the technology’s deployment and its […]

Study: ‘Compliance Trilemma’ Limits Potential of ICOs

Initial coin offerings (ICOs) are facing a regulatory “compliance trilemma,” according to a recent study funded the government of Canada and the University of British Columbia (UBC). To prepare the report, the research team investigated the ICO space over the course of six months, focusing primarily on North America, but also delving into some other […]

Crimean Government Considers Creation of Blockchain Cluster and Crypto Fund

Crimean authorities are considering creating a blockchain-cluster in the form of a cryptocurrency investment fund to attract tech businesses to the territory. The cluster would be located within the special economic zones (SEZ) in Crimea and its largest city Sevastopol, major state-operated Russian news agency TASS reported Nov. 9. Georgy Muradov, the Permanent Representative of […]

German Financial Regulator BaFin Shuts Down Activity of British Crypto-Related Firm

The German Federal Financial Supervisory Authority (BaFin) has ordered partial cessation of activities by U.K.-based crypto-related firm Finatex Ltd., according to an official announcement published on BaFin’s website on Friday, Nov. 9. According to the BaFin’s notice, reportedly dated Oct. 2, Finatex Ltd. is ordered to “immediately” stop offering cross-border proprietary trading on its trading […]

Swiss Financial Watchdog Recommends Banks Set Crypto Risk Coverage at 800%

The Swiss Financial Market Supervisory Authority FINMA has advised banks and other financial institutions to estimate risk coverage for cryptocurrencies at 800 percent of current market value, Cointelegraph auf Deutsch reports today, Nov. 5. Major local news portal Swissinfo reportedly saw a copy of a confidential letter from FINMA to the Swiss Association for Audit, […]

SEC Report Notes ‘Dozens’ of Investigations Into ICOs at End of Fiscal Year

The U.S. Securities and Exchange Commission’s (SEC) Enforcement Division has released its annual enforcement report for the 2018 fiscal year (FY), Friday, Nov. 2. The report notes actions by the Division against fraudulent Initial Coin Offerings (ICOs). According to the report, since the formation of the Division’s Cyber Unit at the end of FY 2017, […]

Indian Official Suggests Ban on ‘Private Crypto’ Prior to Supreme Court Decision

India’s secretary of Economic Affairs has recommended that the country’s Ministry of Finance to impose a ban on “private cryptocurrencies,” according to a report published by the Indian government press center Oct. 31. The Financial Stability and Development Council (FSDC), headed by India’s finance minister Arun Jaitley, held a meeting on the current economic and […]

New Zealand Gov’t-Backed Institute Issues Grant to Crypto Wallet and Trading Service

  New Zealand’s state-backed innovation institute Callaghan Innovation awarded a $330,000 grant to a local crypto wallet and trading service, according to a press release published Tuesday, Oct. 30. Callaghan Innovation issued an “R&D Project Grant” to local crypto wallet and trading platform Vimba, a rebranded version of former MyCryptoSaver. Following the grant, the crypto […]