FinCEN To Announce New Crypto Regulations

February 13, 2020  /  by Crypto.IQ
According to the United States Secretary of the Treasury, Steve Mnuchin, the Financial Crimes Enforcement Network (FinCEN) is about to unveil new crypto regulations. Although the exact details regarding these regulations have not been announced yet, Mnuchin gave some ominous hints. First off, Mnuchin said that FinCEN is increasing its measures to inhibit terrorist funding,… Read more

Rise of the Crypto Lawyers: How the Clash Between Cryptocurrency and Regulation Has Spawned a New Legal Field

February 8, 2020  /  by Zachary Mashiach
The clash between regulators and the crypto space has led to the genesis of a whole field of lawyers who are experts in the gray area where crypto laws, banking laws, and money laundering laws all overlap. The primary goal of these crypto lawyers is to help clients trade large amounts of cryptocurrency into fiat… Read more

SEC Commissioner Dubbed ‘Crypto Mom’ Proposes Three-year ICO Safe Harbor, but it Is Unlikely to Be Ratified Into Law

February 7, 2020  /  by Crypto.IQ
Securities and ExchangeCommissioner Hester Peirce, often called ‘Crypto Mom’ because she is the only commissioner with a favorable attitude towards crypto, has proposed a three-year safe harbor for crypto token projects such as initial coin offerings (ICOs).  At this time, crypto token projects and ICOs need to seek approval from the SEC before launching, but… Read more

India Acknowledges That Bitcoin And Crypto Assets Are Legal

January 22, 2020  /  by Crypto.IQ
During a Supreme Court case the Reserve Bank of India (RBI), which is India’s Central Bank, conceded that Bitcoin (BTC) and other crypto assets are not illegal, and therefore citizens can hold, invest, and trade crypto. Specifically, the RBI says that virtual currencies are not prohibited, rather banks and other financial services have been directed… Read more

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
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