The Belgian MP will convert his monthly salary of EUR 5,500 to Bitcoin using the country’s popular cryptocurrency trading platform Bit4You.
Bitcoin Regulations News
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, Bitcoin is a dissident technology.
However, due largely to founder anonymity, decentralized development and distributed architecture, Bitcoin has persisted despite early attempts by regulators to suppress the technology.
Nowadays, the legality of Bitcoin is not as ambiguous, and ongoing regulatory efforts are trying to situate it within finance rather than keep it out — from consumer protection and tax regulation to launching institutional investment vehicles such as exchange-traded funds (ETFs).
The challenge and concern around Bitcoin 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.
“These innovations have the potential to disrupt finance, just as social media has disrupted communication, or online shopping has changed retail,” said Matt Hancock.1622
BTC price briefly flashed bullish, but derivatives data show bears are in control of January’s $2.3 billion monthly options expiry.10212
The harsh language of the CBR’s report sent waves of panic, but now it seems that the regulator might have few allies in the government.1486
The ministry envisions crypto users executing transactions through banks and proposes to distinguish between qualified and unqualified holders.1530
Odell Beckham Jr.’s reported BTC salary tax debacle may provide a dire warning for anyone looking to get paid in crypto.21437
According to the IMF's executive board, the use of Bitcoin as legal tender carried “large risks” related to financial stability, financial integrity and consumer protection.5436
Representative McHenry is convinced that Congress should take crypto regulation away from executive agencies and courts.1438
Russian Finance Ministry official Ivan Chebeskov has opposed the proposed ban of cryptocurrency operations in Russia.4641
The warning from the Financial Services Authority (OJK) comes on the heels of several calls for a crypto ban from Islamic NGOs in the country.1778
As the Federal reserve releases its position paper on CBDCs, the Russian Central Bank instigates yet another crypto ban scare.1174
Banks do not need to provide an explanation to shut down accounts owned by clients deemed "too risky," according to former CFTC commissioner Brian Quintenz.10118
From Bolivia to China, governments have sought to restrict crypto-related activity for various reasons and with different tools.7412
- Reuters: Binance was withholding information from regulators, repeatedly shunned own compliance department
According to the investigation, the world's largest crypto exchange pursued growth while dodging regulatory scrutiny.16723
While we are unlikely to see immediate policy effects of the exchange, legislators got educated on a wide array of blockchain-related concepts and issues.3115