Category: Regulation

SEC acts against 11 firms neglecting electronic communications
June 29, 2020 BY Steffy Bogdanova

Telegram agrees to pay over $1.2 billion in settlement over its digital token Grams

Lara Shalov Mehraban, Associate Regional Director of the New York Regional Office commented: Our emergency action protected retail investors from Telegram's attempt to flood the markets with securities sold in an unregistered offering without providing full disclosures concerning their project. The remedies we obtained provide significant relief to investors and protect retail investors from future…

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cryptocurrency
April 30, 2020 BY Steffy Bogdanova

New common standards for crypto custody and management issued in Switzerland

Fedor Poskriakov commented: This will greatly contribute to the emergence of fully digital capital market infrastructures, including integrated custody and secondary trading venues. The benefits of the digitalization of the financial industry are such that the evolution towards decentralized infrastructures seems inevitable. The CMTA highlighted that storage of digital assets is significantly different from traditional…

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Japan
April 08, 2020 BY Steffy Bogdanova

New crypto law in Japan to be enforced next month

As part of the PSA, crypto exchanges in Japan will have to manage users’ money separately from their own cash flows, starting 1st May. They will have to use third-operators to keep hold of their clients’ money and use “reliable methods” such as cold wallets. In case of users insisting on hot wallets, exchanges would…

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Advanced Blockchain AG announce investment in WOM Token
March 13, 2020 BY Steffy Bogdanova

French regulators call for security token sandbox

France’s Financial Markets Authority (AMF), proposed a regulatory sandbox to study the impact of security tokens in the European Union. On 6 March the AMF proposed a European “Digital Lab” regulatory sandbox that would allow local regulators to set security settlements requirements aside with the hope that this will help develop a security token market…

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March 04, 2020 BY Steffy Bogdanova

Ukraine taxpayers will now have to report cryptocurrencies

Ukraine’s revenue agency has published guidance for taxpayers to report their digital assets holdings as intangible property, similar to intellectual property or licenses for natural resources extraction. Cryptocurrency is indicated in the guidance in accordance with the Financial Action Task Force (FATF)'s definition – as a virtual unit with value that can be traded and…

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cryptocurrency
March 02, 2020 BY Steffy Bogdanova

Crypto currency categorized as financial instrument in Germany

Germany’s Federal Financial Supervisory Authority, also known as BaFin, released guidelines today, categorizing digital assets as financial instruments. The financial regulator states that virtual currencies are “a digital representation of a value that has not been issued or guaranteed by any central bank or public body and is not necessarily linked to a currency specified…

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March 02, 2020 BY Steffy Bogdanova

Hester Peirce’s final battle with SEC as Wilshire Phoenix BTC ETF is rejected

Securities and Exchange Commissioner (SEC) Commissioner Hester Peirce has issued a statement expressing her disagreement with the Commission’s rejection of Wilshire Phoenix’s Bitcoin Exchange Traded Fund application. Peirce criticizes the SEC for unfair and narrow-minded treatment of Bitcoin-related products. Her term ends in a little over three months, in the beginning of June, some suggest…

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January 28, 2020 BY Steffy Bogdanova

5 most impactful crypto regulations of 2019

Digital currencies and distributed ledger technologies (DLT) have been faced with continuous change and fluctuation in their legislative environment in recent years, Forbes reports. Electronic money was not always as popular as it is today upheld only technologists and Libertarian in the beginning. This changed as cryptocurrencies and blockchain technology spiked interest and powered up…

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