Analysis
New legislation in Washington would have the CFTC regulate crypto, but is it currently able to provide effective rulemaking?
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Government News
Led by people in various positions of power, governments create and enforce different laws and guidelines. Governments worldwide vary significantly in approach, procedures, laws, etc. With the advent of the internet and social media, government news is now readily accessible to the public online.
Government cryptocurrency overwatch has increased in the years since Bitcoin’s launch in 2009. The European Union has taken a ground-breaking step by enacting regulations requiring crypto service providers to spot and suppress illegal cryptocurrency activity. Similarly, the Canadian government has established itself as a proactive regulator by authorizing the nation’s first Bitcoin exchange-traded fund (ETF).
In contrast to Singapore’s policy of not taxing long-term capital gains, Japan has taken a progressive stance by recognizing cryptocurrencies as legal property under the Payment Services Act. However, China is a leader in developing its government-backed digital currency, the digital yuan (e-CNY), with numerous pilot projects underway. China has outlawed cryptocurrency exchanges, citing unlawful public financing.
Additionally, government news also throws some light on major economies like the EU, the United Kingdom and the United States that are actively developing and exploring their own central bank digital currency (CBDC) initiatives, while nations like the Bahamas and Nigeria have already implemented CBDCs.
- News
The former global head of institutional markets for Blockchain.com and a partner at a Washington, DC-based law firm will be the latest additions to SEC staff.
7798 - News
Czech Justice Minister Pavel Blazek resigned last month after the Justice Ministry auctioned off nearly 500 Bitcoin it received from a convicted online drug trafficker.
7928 - News
Connecticut has joined the growing number of US states rejecting the notion of a state Bitcoin reserve, prohibiting government entities from making crypto investments and payments.
2525 - News
Although the bill would allow the National Bank of Ukraine to acquire crypto assets like Bitcoin as part of state reserves, it would not require the bank to do so.
5250 - Opinion
Kenya’s proposed 1.5% crypto transaction tax could disrupt Africa’s digital integration. As Kenya advances a 1.5% tax on every crypto transaction, the nation risks undermining its fintech leadership, driving startups and talent abroad.
1356 - News
Digital asset industry advocates supported congressional candidates in Florida’s special elections in April, and now New Jersey prepares to elect its next governor.
3523 - News
Bitcoin-friendly European Parliament Member Sarah Knafo says Europe is still at the beginning of the digital revolution, which will help it compete with economies like China and the US.
9596 - News
The bill has seen contention online, but Satoshi Action Fund’s Eric Peterson says it updates the state’s unclaimed property laws so crypto doesn’t get liquidated.
9146 - News
Roughly four months since his nomination and amid announced departures at the CFTC, Brian Quintenz’s nomination to head the financial regulator is moving forward.
4861 - Market Analysis
Bitcoin price eyes a breakout as a weakening dollar, US debt concerns, and gold limits shift investor focus.
6176 - News
The California State Assembly passed a bill that would allow state agencies to accept crypto for payment in a unanimous 68-0 vote, which will now head to the Senate.
20127 - Explained
Bitcoin may be decentralized, but its price isn’t immune to the influence of whales, protocol upgrades, ETF approvals and global regulations.
- News
Traders are maximizing short-term profit strategies as the long-term economic outlook becomes increasingly unclear, Arrash Yasavolian said.
3511 - News
Thailand’s SEC has ordered Bybit, 1000X, CoinEx, OKX and XT.COM blocked nationwide, citing unlicensed operation and money-laundering concerns.
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