The Biden team looks to Janet Yellen to lead the next administration's economic policy, which will have to navigate the wreckage left in the wake of the coronavirus.
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, crypto is a dissident technology.
The legality of cryptocurrencies is an ongoing debate. While some institutions are trying to situate them within finance rather than keep them out, many governments are still discussing topics including consumer protection legislation, tax regulation, launching institutional investment vehicles such as exchange-traded funds, known as ETFs, and even building central bank digital currencies, otherwise known as CBDCs.
The challenge and concern around Bitcoin and cryptocurrency 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.
Stay tuned to daily regulatory news updates in the crypto industry with Cointelegraph.
“This proposal, if adopted, would prove to be an invasion of privacy."12317
The paper also put forward CBDCs as solutions to high transaction fees and the energy use of mining cryptocurrencies like Bitcoin.5923
The Switzerland-based branch of a major Russian bank has also joined OpenVASP.11765
The level of freedoms that the U.S. has provides an argument for the country as the most crypto-friendly location, although Puerto Rico also has its benefits.23060
Government lawyers implied that citizens could legally pass along nuclear secrets to North Korea if held to the same standards as Griffith.7595
MPC is a regulated, fee-centric model that is almost an exact replica of today’s banking system.11703
Analysts make a slew of wild predictions as Bitcoin continues its moon mission in this week's Bad Crypto podcast8136
DoJ is now determined to hold the crypto industry to cross-border enforcement standards that have long applied to other sectors of finance.10630
Libel laws and new faces at the U.S. securities regulator lead the week's news.46598
New and developing research from the International Monetary Fund suggests that central banks around the world need new legal definitions for tokenized currencies.10917
New rule-making aims to stop "creeping politicization of the banking industry," says OCC head.9345
The chief fintech officer at Singapore's central bank told Cointelegraph about his thoughts about Singapore's wholesale CBDC.5943
The U.K.'s Financial Conduct Authority advised caution against phony actors.7872
Jay Clayton is stepping down from his role as SEC Chairman at the end of the year, but before going he wants to set the record straight on the SEC’s opinion of Bitcoin.20374