Major exchange OKEx suddenly suspended crypto withdrawals while one its key custodians cooperates with an investigation, shaking the crypto markets
Bitcoin (BTC) was invented to challenge the hegemonic order of global finance, so naturally, it has had a tense relationship with regulators since its early days. The technical and social roots of cryptocurrency largely stem from communities with a deep distrust of the state. From its design to its driving narratives, crypto is a dissident technology.
The legality of cryptocurrencies is an ongoing debate. While some institutions are trying to situate them within finance rather than keep them out, many governments are still discussing topics including consumer protection legislation, tax regulation, launching institutional investment vehicles such as exchange-traded funds, known as ETFs, and even building central bank digital currencies, otherwise known as CBDCs.
The challenge and concern around Bitcoin and cryptocurrency regulation is how patchwork legislation across jurisdictions may hinder the growth and maturation of the crypto economy that is intended to be a borderless, open financial system.
Stay tuned to daily regulatory news updates in the crypto industry with Cointelegraph.
Law enforcement representing 16 different countries cooperated to arrest 20 members of a global crypto-powered money laundering cartel in just one of the cases.2756
The Korea Blockchain Association wants the government to postpone the implementation of its new tax framework until 2023.3722
A former NFL team owner has been asked to pay $371M as part of a plea deal over bank fraud, illegal money transfers, and wire fraud. He's not interested.2370
Timothy Lane says the central bank is developing a CBDC at "a good pace.”5077
Japan's policymakers appear disconcerted by the advancement in China's CBDC initiative.11129
The SEC Commissioner said the recent legal action taken against BitMEX shows the need for the international industry to take AML regulations seriously3938
Lawyers argued the complaint was “based on a man in Wisconsin using an exchange in Singapore to purchase tokens issued by a Swiss entity.”3083
The report suggests giving preferential tax treatment to PoS over PoW-based crypto assets.3111
The ECB should grant e-money issuers access to central bank reserves, says Monerium.4300
The U.K.’s Financial Conduct Authority is accused of ignoring its own consultation and cherry-picking data.3474
Russia’s central bank wants to limit the amount of cryptos and digital rights acquired by non-professional investors.4199
The first 200 cabins in a crypto-themed cruise ship will go on sale in November7217
CipherTrace has published comprehensive guidance intended to help law enforcement identify signs of crypto usage when conducting investigations.2377
The Financial Stability Board has warned that global stablecoins could pose systemic risks to the monetary systems of nation-states.2539