Category: Regulation
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Ripple Ruling: US Lawmakers Urge SEC Chairman To Reevaluate Crypto Stance!
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New York Representative Ritchie Torres has called on the U.S. Securities and Exchange Commission (SEC) Chairman, Gary Gensler, to reconsider the agency’s stance on cryptocurrencies following a “dreadful day in court” for the SEC.
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Belarus Looks to Ban Peer-to-Peer-Crypto Transactions!
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According to a notice from the Belarusian Ministry of Foreign Affairs, Belarus is looking to make peer-to-peer transactions in cryptocurrency illegal. Citizens will now be required to use registered crypto exchanges to minimize fraud in the space.
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Bittrex: SEC Has No Authority Over Crypto!
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Cryptocurrency exchange Bittrex has filed a motion to dismiss in its legal battle with the U.S. Securities and Exchange Commission (SEC). In a recent court filing, Bittrex argues that the SEC only has the authority to regulate cryptocurrencies as securities if Congress explicitly gives the agency that authority.
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New Debit Cards: Weko Takes A Look At The Beautiful Fintech World!
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Swiss banks are wooing customers with fee-free and digitally-enabled debit cards. But it’s the merchants who are footing the bill. The Competition Commission is now opening a formal investigation against each card giant, Visa and Mastercard.
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Wirecard Insolvency Administrator Considers Forgeries Proven!
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Michael Jaffé has tried to trace the disappearance of €1.9 billion at Wirecard. He found no evidence of corresponding transactions. In a status report, he comes to a clear conclusion. According to new findings by insolvency administrator Michael Jaffé, Wirecard’s business with alleged partners in Asia was wholly fabricated.
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Bundesbank Board Member Würmeling: The Fintech Industry Has Entered A Downward Spiral.
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Joachim Würmeling explains the low-interest rate turnaround, among other things. He believes that the Bundesbank and BaFin still have some catching up regarding supervision. The German fintech industry has had a real crisis year, with bankruptcies, layoffs and reduced company valuations, he explained.
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Prometheum Ember Capital Is First SEC Qualified Crypto Custodian!
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Bang for the buck in the US. The first crypto company has received a license under SEC requirements. The press release states that a crypto startup has received its first license under Securities and Exchange Commission (SEC) regulations.
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Hong Kong Securities Regulator To Start Accepting License Applications For Crypto Exchanges On June 1!
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Securities and Futures Commission (SFC) guidelines prohibit “crypto gifts” designed to incentivize retail investors, which likely include airdrops. According to an announcement this week, the SFC will begin accepting applications for licenses for crypto trading platforms starting June 1.
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High-Level Political Intervention Could Get Revolut The UK Banking License
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FinTelegram recently reported that the Revolut banking license in the UK may or may not be granted. Speculation suggests that regulators might deny Revolut the license. However, the UK government has intervened and facilitated high-level political discussions with Revolut, the UK’s highest-valued fintech as part of its growth strategy.
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U.S. Chamber Of Commerce Backs Coinbase And Criticizes SEC!
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The U.S. Chamber of Commerce is backing crypto exchange Coinbase in its legal battle with the SEC, calling the agency’s actions illegal. The U.S. Chamber of Commerce filed an amicus brief on May 9 criticizing the U.S. Securities and Exchange Commission (SEC) in its case against crypto exchange Coinbase.