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Regulation

US SEC: The Crypto Industry Has More Freedom To Move On Its Own With The Regulation Delay

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Commissioner Heister Peirce of the United States Securities and Exchange Commission said two days ago that the delay in providing a crypto regulatory framework could actually provide more freedom for the industry to move by itself and we are about to find out in today’s crypto news, what exactly does the commissioner think.

Peirce, also known as the ‘’Crypto Mom’’ was one of the commissioners that stood against the SEC’s decision to reject the ETF proposed by the Winklevoss twins. When she was discussing the delays in delivering a legal framework for crypto, she said that is not all bad:

 “We might be able to draw clearer lines once we see more blockchain projects mature. Delay in drawing clear lines may actually allow more freedom for the technology to come into its own.”

The SEC commissioner noticed that when an industry goes through a process of regulation it could take a long time and the SEC has to act appropriately in order to not to compromise the current laws:

 “If we act appropriately, we can enable innovation on this new frontier to proceed without compromising the objectives of our securities laws — protecting investors, facilitating capital formation, and ensuring fair, orderly, and efficient markets.”

On the other hand, there are cases of overregulation, she argues. She stated that some crypto projects cannot make progress in the current framework because of the unworkable security laws.

Peirce concluded that the US Congress might resolve the current regulatory issues by requiring some digital assets at least to be treated as a separate asset class.

At the start of this year, Peirce said that she is trying hard to convince her colleagues to be more open-minded when it comes to crypto but warns us that it could take a long time.

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Regulation

Japan Crypto Regulation: A New ‘Manual’ Designed For G20 Leaders

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The Japan crypto regulation is a hot topic on many best cryptocurrency news sites right now. In the latest cryptocurrency news, we see that Japan has prepared a "manual" of cryptocurrency regulation proposals that will be handed out to G20 leaders and international financial chiefs. The country will host both the G20 Summit and the G20 Ministerial Meetings on June 28 and 29 in Osaka and will set the agenda for the talks as its host. As it was previously reported, Tokyo is keen to bring the cryptocurrency regulation to the table. Since Japanese ministers want global leaders to agree on a shared international framework for regulations. Meanwhile, Tokyo interferes to the Japan crypto regulation and opposes the status quo whereby the regulations in some G20 nations are exceptionally tight and non-existent in others. According to Sankei Biz, the Japanese government has drawn up a "manual" which is described as a handbook of the new Japan crypto regulation efforts as well as cryptocurrency governance proposals and justifications which pertain to cryptocurrency exchanges in particular. As part of the new regulation, Tokyo is also hoping to illustrate the need to implement systems that protect customer assets, international security protocols as well as systems that provide customers with information - especially in the event of a hack. Aside from this, the Japan crypto regulation hand book will also outline two damaging hacks that Japanese exchanges suffered last year. Aside from the crippling Coincheck hack in January, the Zaif hack also took a toll of the country's regulation and sweeped the legislative changes. As reported on many best cryptocurrency news sites, the Japan crypto regulation has focused on the country's exchanges with a strict set of regulations. The exchanges are obliged to seek operating permits from the regulatory Financial Services Agency which has the power to conduct extensive and on-site audits or even suspend trades. The exchanges are also policed by the self-regulating Japanese Virtual Currency Exchange Association (JVCEA). On the other hand, the Japanese exchange platform SBI Virtual Currencies is owned by the financial giant SBI Group, says its recent decision to delist Bitcoin Cash and was made in accordance with the JVCEA guidelines.
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Thailand Crypto Regulation Could Arrive Through ICO & STO Offerings

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The Securities and Exchange Commission (SEC) of Thailand is in the latest cryptocurrency news for its plans to legalize the local initial coin offering (ICO) market as well as open it to potential startups. Knowing that the Thailand crypto regulation efforts were inactive for long, this is definitely a step that would put the country closer to the cryptocurrency markets. According to Tipsuda Thavaramara who is the deputy secretary of the Thai SEC, the crypto regulation in Thailand stands as following:
“The regulator will have to consider how to deal with STOs for issues such as share ownership, voting rights and dividend. At the moment, we have not decided whether STOs fall under the SEC Act or the Digital Asset Act, but it depends on the STO's conditions and the details in its white paper.”
On top of this, the country's SEC has recently scratched the surface of the Thailand crypto regulation issues with the approval of STOs in the local market, even though the plans to legalize ICOs are still contradictory and unclear. This month, the Thai SEC reportedly approved the official launch of the country's first ICO portal which brought a lot of positive news across many best cryptocurrency news sites. According to the news, there are plans for STOs approval in the local market.
“The next step is for an issuer to offer security tokens in the primary market,” said Archari Suppiroj, commenting the Thailand crypto regulation issue.
According to big names in the crypt industry, there are still legal boundaries between STOs and global financial regulations. As one prominent CEO said:
“There’s a misconception that there’s a Thai regulatory problem or that somehow the regulations need to change. They don’t. You need to comply with rules around the world. If the compliance doesn’t work, nothing else can happen. We have talked with a number of regulators in the U.S. and around the world. No one has given us negative feedback and no one has signed off on it, but our fundamental opinion is that we’re complying with the rules.”
In July, the Thai SEC officially legalized registered ICOs, allowing companies to run token sales with guidance from the SEC. All of this has led to greater Thailand crypto regulation and a lot of positive news in the crypto space.
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Regulation

Democratic US Presidential Candidate Advocates For Clear Crypto Regulations

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The Democratic US presidential candidate for the 2020 elections, Andrew Yang, has recently called out for clear regulations on digital assets. As Yang revealed, the key operative points were carried out in a policy published on his campaign website. For those of you who don't know, Andrew Yang is featured in our latest cryptocurrency news and is known to the world as an entrepreneur who contributed $120,000 towards the establishment of Venture For America (VFA) which is an accelerator that is aimed towards building new startups in emerging cities. He is also an active US presidential candidate and as part of his campaign - stands for the implementation of cryptocurrency and digital assets regulation in the country. As the release notes, Yang outlined that the government has failed to develop and launch a national framework for regulating digital assets, while several federal agencies claim other conflicting jurisdiction. However, as a US presidential candidate, Yang stresses the obvious need to define how digital assets need to be treated and regulated so that investors could proceed with all the relevant information.
“We should let investors, companies, and individuals know what the landscape and treatment will be moving forward to support innovation and development. The blockchain has vast potential," Yang said.
The US presidential candidate Yang is definitely one of the many big names calling out for crypto regulation. His act definitely moves the waters and introduces certain regulatory certainty for businesses and regulators in the United States. He further pointed out that both crypto and digital asset markets develop faster than regulations can keep up. Featured on many best cryptocurrency news sites for his crypto-positive statement, Yang continued:
“Create clear guidelines in the digital asset world so that businesses and individuals can invest and innovate in the area without fear of a regulatory shift."
With this the US presidential candidate proved that he is interested in cryptocurrencies and wants to be recognizable in the world of crypto. In January, there were reports showing that the US States Senator and cryptocurrency critic Elizabeth Warren had announced her bid for president in 2020. Speaking at a Senate Bank Committee hearing in October, Warren asserted that “the challenge is how to nurture productive aspects of crypto with protecting consumers.”    
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Regulation

Andrew Yang Democratic Candidate Advocates For Clear Crypto Regulation

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andrew yang
Andrew Yang is the Democratic United States presidential candidate for the upcoming 2020 elections and he is a strong advocate for better crypto regulation. Yang made multiple points on digital assets policies on his campaign website that we are looking into further in the coming altcoin news. The article on the website explains how the government failed to launch a national framework for digital currencies. Andrew Yang claims that some of the federal agencies have conflicting jurisdictions. Andrew Yang is an entrepreneur who donated up to $120,000 to establish Venture for America which is basically a booster for new startups. He is now running for president in 2020. His presidential campaign is based on the implementation of crypto and digital assets into the country and their regulation. In the press release, he pointed out that digital assets should be treated differently and regulated in order to ensure investors they have all the relevant data they need:
 “We should let investors, companies, and individuals know what the landscape and treatment will be moving forward to support innovation and development. The blockchain has vast potential.”
On the website, you can also see that Andrew Yang pointed out that cryptocurrency and digital assets markets are developing quickly and the regulatory bodies cannot follow the fast development. As we can read in the latest cryptocurrency news, he also pointed out:
 “Create clear guidelines in the digital asset world so that businesses and individuals can invest and innovate in the area without fear of a regulatory shift.’’
Back in January, the United States Senator and well-known crypto critic Elizabeth Warren made an announcement for her presidential run in 2020. While she was speaking at the Senate Banking Committee hearing back in October 2018, she stated that ‘’the challenge is how to nurture productive aspects of crypto with protecting consumers.’’ Elizabeth Warren also made clear that the average American consumer could become a victim of a crypto scam. As for Andrew Yang, he announced his candidacy in the 2020 elections in November 2017. At the start of this month, representatives Darren Soto (D) and Warren Davidson (R) introduced the Token Taxonomy Act. This reintroduced act will exclude cryptocurrency from being classified under security. The act also enables the introduction of regulatory certainty for regulators and business in the US blockchain industry. It also clarifies the relationship between government initiatives and regulatory rulings. As for Andrew Yang, we wish him good luck.
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