Witnessing the digital breakthrough
The FATF Announces the Need for New Guidelines for the Crypto Industry
Regulation   |   08.07.20  |  

... being incorporated into various financial markets. However, the extreme regularization of the blockchain industry became a problem and everybody is opposing it. The Forex market which is arguably the most regulated network in the world, despite these regulations, there are advantages of Forex trading that crypto cannot reach right now. If a comprehensive regulatory framework is adopted then we can talk about a path to the stage, where crypto is also advantageous for people. The FATF noted that over ...

The Crypto Derivatives Platform Received MTF License From The UK Financial Regulator
Exchanges   |   07.07.20  |  

UK financial regulator issued MTF license for cryptocurrency trading platform The cryptocurrency trading platform Kraken Futures has received the Multilateral Trading Facility license (MTF) from the UK Financial Conduct Authority (FCA). Now Kraken Futures is the first licensed cryptocurrency platform with MTF license. The license enables the platform to provide services to institutional investors. Recall that in February last year, the American exchange Kraken acquired the British platform Crypto...

Switzerland Will Not Change Tax Legislation due to Blockchain
Legislation   |   30.06.20  |  

According to the financial regulator of Switzerland, the current tax legislation fully takes into account the aspects of the blockchain technology, and at the moment no changes are required The Swiss Federal Department of Finance has decided not to change the tax laws for blockchain technology. According to the country's financial regulator, the current tax laws fully take into account all aspects of modern technology. According to the press release, the Swiss Federal Council first asked the Ministry...

Monaco Plans To Fund Social Projects With STO
Legislation   |   26.06.20  |  

... should build and implement its ambitions through the STO system. Genta also added that the STO law and collaboration with Tokeny are important milestones in supporting this process. It is known that the principality plans to further elaborate on the regulation of STO in order to facilitate the work of companies such as Tokeny in Monaco. The government will select and approve projects in all detail, ensuring compliance with the KYC and AML procedures in order to provide investors with reliability ...

Telegram Pays SEC Penalty
Cryptocurrencies   |   26.06.20  |  

According to the settlement agreement of SEC and Telegram, the company is obliged to pay a fine and return the profit to investors within a fixed timeframe The settlement, which was reached on June 11 and concluded the six-month lawsuit between the SEC and Telegram, indicates that the messaging platform is liable to investors and pledges to return to them the profits resulting from illegal activities in the amount of $1.22 bln. Telegram also has 30 days to pay the fine set by the US Securities...

US Supreme Court Restricts US Securities and Exchange Commission
Legislation   |   24.06.20  |  

US Securities and Exchange Commission is now limited in fines according to the Supreme Court ruling On June 23, the U.S. Supreme Court ruled that the SEC is limited in the amount of fine that it can impose to company profits from illegal activities. Under the new restrictions, the U.S. Securities and Exchange Commission does not have the right to impose a fine exceeding the profits of the company's illegal activities. The fine should be imposed only in order to return the lost funds to the victims...

FCA Calls for Filing Applications for Crypto Companies Registration by the End of June
Legislation   |   23.06.20  |  

UK financial regulator has changed the deadline for filing applications for the registration of crypto firms On Monday, the UK's chief financial regulatory body said that any company engaged in crypto business in the country should apply for registration by June 30. Despite the fact that the deadline for filing applications was originally set on January 10, 2021, the regulator notes that it needs six months to consider the submitted applications and resolve issues. The Financial Conduct Authority...

Mauritius Creates Ecosystem For STO
Legislation   |   18.06.20  |  

FSC of Mauritius works on establishment of STO regulation system in the country The main financial supervisor of Mauritius has created a regulatory regime for the complete security of the ecosystem in the country. The Mauritius Financial Services Commission (FSC) has published a licensing framework ...

Kazakhstan Plans To Attract Crypto Investments
Legislation   |   17.06.20  |  

According to the Minister of Digital Development, Innovation and Aerospace Industry of Kazakhstan, the country plans to attract investment through the crypto industry Kazakhstan is going to attract investments in the amount of about $740 mln over the next three years through various businesses related to the crypto industry. Askar ZHUMAGALIYEV , Minister of Digital Development, Innovation and Aerospace Industry of Kazakhstan, unveiled a plan to address the upper house of the Kazakh parliament...

Canadian Regulator Recognized Quadriga CX as Ponzi Scheme
Crime   |   15.06.20  |  

In its latest report, the Canadian regulator recognizes the mysterious crypto exchange as a financial pyramid Canada's former largest crypto exchange, Quadriga CX, is one of the most suspicious «puzzles» in the world of cryptocurrencies over the past few years. After the death of the 30-year-old head of the crypto trading platform, Gerald COTTEN , customers who have entrusted their funds to Quadriga CX cannot return the money — none of the employees have access to the financial funds of the exchange...

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