Deribit Moves to Panama to Escape Harsh European Regulations

January 10, 2020  /  by Crypto.IQ
The Amsterdam-based cryptocurrency futures and options trading platform Deribit is moving to Panama in order to escape harsh regulations. The move is expected to become official on February 10, after which point Deribit will operate under the Panamanian company DRB Panama Inc. The Netherlands is about to adopt the Fifth Money Laundering Direction (5AMLD), which… Read more

SEC to Make Crypto Regulation a Priority in 2020

January 8, 2020  /  by Crypto.IQ
The Securities and Exchange Commission (SEC) Office of Compliance Inspections and Examinations (OCIE) has announced that they will be making the crypto industry a priority in 2020. Specifically, the OCIE says that crypto market companies and organizations will be identified and examined. Parameters that will be assessed include investment suitability, portfolio management and trading practices,… Read more

Qatar Financial Center Bans Crypto Businesses

January 7, 2020  /  by Crypto.IQ
The Qatar Financial Center, located in the capital Doha, has banned all ‘virtual asset services’, with a virtual asset being defined as anything that can act as a substitute for currency, can be digitally traded or transferred, and can be used for payments or investments. Essentially, cryptocurrency businesses are now banned in the Qatar Financial… Read more

Germany Limiting the Ability to Anonymously Purchase Gold in an Attempt to Force People to Hold Euros

December 27, 2019  /  by Crypto.IQ
Two years ago people in Germany could anonymously purchase EUR 15,000 of gold, then the limit dropped to EUR 10,000, and now the limit will drop to only EUR 2,000 as of January 10. Anyone who purchases more than the EUR 2,000 limit will have to go through an intensive know your customer (KYC) process… Read more

Bahamian Government Launches Sand Dollar Digital Currency in Pilot Phase

December 27, 2019  /  by Crypto.IQ
The Bahamian government has officially launched their central bank digital currency (CBDC), and has named it the Sand Dollar. It is a blockchain-based stablecoin that is pegged to the Bahamian Dollar (BSD). Since the BSD is pegged to the USD, the Sand Dollar is interchangeable with both the BSD and the USD. The Sand Dollar… Read more

Uzbekistan Bans Cryptocurrency, Setting The Stage For A Crypto Black Market

December 26, 2019  /  by Crypto.IQ
Uzbekistan, a country with 33 million people bordering Afghanistan and Kazakhstan, has banned cryptocurrency purchases. This sets the stage for a crypto black market to proliferate in the central Asian country. This decision comes only a year after Uzbekistan legalized crypto trading and began handing out crypto exchange licenses. Perhaps the sudden change of heart… Read more

German Banks Will Be Allowed to Buy, Sell, and Store Cryptocurrency Starting New Years Day

December 2, 2019  /  by Crypto.IQ
Germany has just passed a new law which will allow banks to buy, sell, and store cryptocurrency starting on New Years Day. This creates the potential for Germany to become a ‘crypto heaven’, where cryptocurrencies will be widely available to all citizens. Simultaneously however, this new law requires that pre-existing cryptocurrency exchanges need to have… Read more

FinCEN Has Declared That Stablecoin Operators Must Register As MSBs and Follow KYC/AML; This Decision Could Be a Death Blow for the Stablecoin Industry in the United States

November 21, 2019  /  by Zachary Mashiach
Financial Crimes Enforcement Network (FinCEN) Director Kenneth A. Blanco spoke at the Chainalysis Blockchain Symposium — a crypto conference run by one of the top blockchain forensics firms — and dropped some heavy regulatory news about the stablecoin industry. Essentially, stablecoin operators themselves, i.e. the companies that launch and manage stablecoin networks, are now considered… Read more

CFTC Chairman Calls for the United States to Nurture the Crypto Space Instead of Impeding It

November 14, 2019  /  by Crypto.IQ
The Chairman of the Commodity Futures Trading Commission (CFTC), Heath Tarbert, has publicly stated that the crypto space could result in a fundamental transformational change to the global finance industry and that the United States should lead in cryptocurrency and blockchain technology rather than impeding it.  This statement comes hot on the heels of Chinese… Read more

China Not Banning The Crypto Mining Industry, For Now At Least

November 6, 2019  /  by Crypto.IQ
The National Development and Reform Commission (NDRC) of the People’s Republic of China has sway over which industries to encourage, which industries to regulate, and which industries to eliminate. In April the NDRC caused a stir in the crypto space by adding virtual currency mining to the industries that will be eliminated. The NDRC then… Read more
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