Regulation

China still accounts for 10% of Bitcoin transactions

Despite China’s blanket ban on all crypto-related activities in the country, residents of the country still account for roughly 10% of all global transactions involving digital assets. The post China still accounts for 10% of Bitcoin transactions appeared first on CryptoSlate.

Ethereum blasted as “a trojan horse for tyranny” following MetaMask scandal

MetaMask users in Iran and Venezuela reported problems with completing transactions yesterday. The post Ethereum blasted as “a trojan horse for tyranny” following MetaMask scandal appeared first on CryptoSlate.

Ethereum blasted as “trojan horse for tyranny” following MetaMask scandal

MetaMask users in Iran and Venezuela reported problems with completing transactions yesterday. The post Ethereum blasted as “trojan horse for tyranny” following MetaMask scandal appeared first on CryptoSlate.

Crypto’s Sanction-Slipping Power: Why Bitcoin’s Neutrality Is Its Greatest Humanitarian Asset

Decentralized networks such as Bitcoin’s don’t know national allegiance, they only know math. And when you’re trying to get your savings out of an ATM, or send a payment to relatives in a war-torn environment, someone else’s politics is the last thing you want standing in the way of you and your loved ones’ well-being […]

Malaysia’s Deputy Finance Minister: Crypto Not Suitable as Means of Payment or Store of Value

Malaysia’s deputy finance minister says that cryptocurrencies, such as bitcoin and ethereum, are not suitable as a means of payment or a store of value. While digital assets are not recognized as legal tender in Malaysia, the finance ministry official said that they are an asset class that can be invested in. Deputy Finance Minister […]

US Treasury Monitoring Crypto Use to Evade Sanctions, Says Treasury Secretary Yellen

U.S. Treasury Secretary Janet Yellen says the Treasury Department is monitoring Russian efforts to evade sanctions using cryptocurrency. Four U.S. senators have written to Yellen raising concerns about Russia using cryptocurrency as a channel to circumvent sanctions. Treasury Secretary Janet Yellen on Monitoring Russian Efforts to Use Cryptocurrency to Evade Sanctions U.S. Treasury Secretary Janet […]

A look at MetaMask, Infura, OpenSea and the countries they do not serve

There have been reports suggesting various crypto services are blocking access in certain jurisdictions. We break down what's happening. The post A look at MetaMask, Infura, OpenSea and the countries they do not serve appeared first on The Block.

Governments are on high alert for crypto in Russian sanctions evasion that nobody has seen yet

Public officials across the West have been voicing concern about the use of crypto by Russia to evade the sting of sanctions. The post Governments are on high alert for crypto in Russian sanctions evasion that nobody has seen yet appeared first on The Block.

The city of Lugano will accept Bitcoin, Tether and LVGA token as 'de facto' legal tender

Residents of the Switzerland city will be able to pay taxes, parking tickets, public services, and tuition fees using crypto. Switzerland’s southern city of Lugano plans for many local businesses to accept some cryptocurrencies as ‘de facto’ legal tender as part of a partnership with Tether.Speaking at the city’s Plan B event on Thursday, Tether chief technical officer Paolo Ardoino said the firm had set up a 3 million-Swiss franc fund in collaboration with Lugano officials t

The SEC is considering crypto recommendations for its custody rule

The SEC is considering new recommendations on crypto for investment advisers and investment companies, according to recent remarks. The post The SEC is considering crypto recommendations for its custody rule appeared first on The Block.

UK financial watchdog is investigating 50 unauthorized crypto firms

The FCA said it had opened more than 300 cases into unregistered crypto firms in the last six months, "many of which may be scams." The United Kingdom’s Financial Conduct Authority, or FCA, has announced it has 50 active investigations as part of its efforts to crack down on unregistered crypto businesses.In a Thursday announcement, the FCA said it had opened more than 300 cases into unregistered crypto firms in the last six months “many of which may be scams.” In addition, t

Fifty UK crypto firms under active investigation, says FCA

The UK's top finance watchdog said Thursday that 50 crypto firms are under active investigation. The post Fifty UK crypto firms under active investigation, says FCA appeared first on The Block.

Three hundred crypto firms investigated last year, says FCA

The UK's top finance watchdog said Thursday that 50 crypto firms are under active investigation. The post Three hundred crypto firms investigated last year, says FCA appeared first on The Block.

IRS official: ‘Expect more’ John Doe records requests from crypto exchanges

An Internal Revenue Service (IR) official said Wednesday to "expect more" in the way of broad information requests to crypto exchanges The post IRS official: ‘Expect more’ John Doe records requests from crypto exchanges appeared first on The Block.

Proof-of-Work Ban Removed From Europe’s Proposed Crypto Regulation

A text threatening to prohibit cryptocurrencies relying on energy-intensive proof-of-work mining has been deleted from the draft legislation aimed at regulating the European crypto space. The move comes after the controversial provision sparked objections from the crypto community. MiCA Proposal Drops Ban on Proof-of-Work Coins Wording that could have banned cryptocurrencies with proof-of-work (PoW) mining, […]

US Senator Urges Regulators to Increase Scrutiny on Crypto as It Risks Undermining Sanctions Against Russia

U.S. Senator Elizabeth Warren is worried that “cryptocurrencies risk undermining sanctions against Russia.” She urges financial regulators “to take this threat seriously and increase their scrutiny of digital assets.” Senator Elizabeth Warren Worried Russia Could Use Cryptocurrency to Evade Sanctions As governments worldwide are placing sanctions on Russia following its invasion of Ukraine, U.S. Senator […]

NYDFS looks to crypto tools to help enforce sanctions against Russia

New York is prioritizing the procurement of blockchain analytics technology to better enforce sanctions against Russia. The post NYDFS looks to crypto tools to help enforce sanctions against Russia appeared first on The Block.

UK Regulator Bans Floki Inu Ad for Being Irresponsible, Exploiting Investor FOMO

The U.K.’s advertising authority has banned an ad for cryptocurrency floki inu (FLOKI). The authority says the ad’s “Missed Doge? Get Floki” claim “exploited consumers’ fears of missing out and trivialized investment in cryptocurrency.” The ad was also “irresponsible” and “took advantage of consumers’ inexperience or credulity,” the regulator said. Floki Ad Banned in the […]

EU is ‘taking measures’ against Russia using crypto to bypass sanctions, say finance ministers

“When it comes to economic and financial sanctions, we want to remain flexible and mobilized,“ said France’s finance minister, Bruno Le Maire. Economy and finance ministers representing nations in the European Union have said they will address Russia’s potential use of cryptocurrencies to evade sanctions imposed on it following its operations in Ukraine.Speaking to reporters through an interpreter following an informal video conference of EU economy and finance ministers on W

US lawmakers and Fed chair push for crypto regulation in wake of Russia sanctions

Jerome Powell said that the situation with Russia "underscores the need for really congressional action on digital finance, including cryptocurrencies." Federal Reserve Chair Pro Tempore Jerome Powell and some members of the U.S. House of Representatives called for congressional action on crypto in response to discussions about Russia potentially evading sanctions.In a Wednesday hearing of the House Financial Services Committee on “Monetary Policy and the State of the Economy