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Tag Archives: Regulators

Saudi Regulators Warn Against Trading Cryptocurrencies, Citing ‘High Market Risks’

A governmental committee of the Kingdom of Saudi Arabia has warned the public that trading digital currencies is illegal in the country, according to an Aug. 12 announcement by the Saudi Arabian Monetary Authority (SAMA). The warning was issued by the Standing Committee for Awareness on Dealing in Unauthorized Securities Activities in the Foreign Exchange Markets. The standing committee was ...

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Saudi Arabian Regulators Reiterate Ban on Cryptocurrency Trading

A joint committee of Saudi Arabia’s regulatory bodies has issued a statement on cryptocurrency trading. The move hopes to protect local investors from the “high risks” associated with digital asset markets. Trading Venues Falsely Advertise as Being Regulated by Saudi Arabia The news broke via a statement posted to the Saudi Arabian Monetary Authority’s website yesterday. It claims that virtual ...

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African Regulators Taking ‘Wait-and-See’ Approach on Cryptocurrency: Ecobank

African countries want to regulate cryptocurrency, but hardly any one wants to take the lead in responding to the meteoric rise of this technology and asset class. That’s according to a new report from the Togo-based Ecobank, the leading independent regional banking group that serves nearly 40 countries in West and Central Africa. The report, which examined the regulatory response ...

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11 Financial Regulators Launch ‘Global Sandbox’ for Blockchain, FinTech Push

A near dozen financial regulators from countries around the world have collaborated to form a new network to help further the development of financial technologies like blockchain. Now labeled as the ‘Global Financial Innovation Network (GFIN)’, the alliance sees 11 financial regulators of their respective nations come together under a proposed mandate by the U.K.’s Financial Conduct Authority (FCA) earlier ...

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Bitcoin Mining Firm Reopens in U.S. after Regulators Revoke Cease & Desist Order

Genesis Mining, a provider of managed cloud mining, announced that it is resuming operations in the United States after South Carolina regulators withdrew a cease and desist order against the firm. Contracts serving U.S. residents have been disabled for five months up until now. SC Regulators Revoke Cease & Desist Order The cease and desist originated from the South Carolina ...

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We’re ‘Thrilled’ That Regulators Are Getting Involved in Crypto: Ripple Exec.

There’s a deep divide within the cryptocurrency community about whether increased attention from regulators is a positive step in the industry’s maturation process or an unnecessary roadblock to innovation. Ripple, the San Francisco-based blockchain startup and majority owner of the “bank-friendly” XRP cryptocurrency, has always tended toward the former view. Speaking during a recent interview with Fox Business, Cory Johnson, ...

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South Carolina State Regulators Withdraw Enforcement Actions on Two Blockchain Startups

The Securities Division of the Office of the Attorney General of South Carolina has removed cease-and-desist orders against two blockchain startups, according to public documents published July 26. Today’s order removed a cease-and-desist order filed by the South Carolina Attorney General’s office against shipping platform ShipChain for violating the state’s securities statutes on May 21. Regulators initially accused the firm ...

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Swiss Regulators Probe Crypto Mining Company Envion

The Swiss Financial Market Supervisory Authority (FINMA) has today announced enforcement proceedings against crypto mining firm Envion. The regulators believe that the German-Swiss start-up has been operating in breach of national banking laws. Legal Proceedings Brought Against Fraudulent German-Swiss Crypto Firm Envion Although largely welcoming to cryptocurrency businesses, Switzerland’s financial regulators are working hard to ensure that the domestic blockchain ...

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U.S. Regulators Approve Coinbase Acquisitions, Enabling It to List Security Tokens

Coinbase Inc., has announced that the U.S. Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINFRA) have approved its purchase of three companies that will enable the cryptocurrency exchange and wallet service to offer security tokens under federal oversight, according to Bloomberg. Speaking with the publication, a Coinbase spokesperson said the regulators have approved its it request ...

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South Korean Regulators to Introduce New Cryptocurrency-Related Proposals This Month

A lot of things are changing in South Korea’s cryptocurrency ecosystem. With all major exchanges adhering to self-regulation, the government has bought additional time prior to introducing official guidelines. It seems that regulation will be introduced a lot sooner than originally thought. South Korean Regulators Make Their Move According to local sources, there will be some regulatory changes in South ...

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