Ethereum 

U.S. Regulator Investigating BitMEX for Allowing Americans to Trade

United States regulator the Commodity Futures Trading Commission (CFTC) is reportedly investigating derivatives giant BitMEX. According to sources citing people familiar with the matter speaking to Bloomberg, the CFTC suspects that BitMEX, which is registered in the Seychelles, allowed U.S. residents to use its platform to trade. Under current law, the U.S. is one of the countries excluded from using BitMEX and similar crypto-based financial services, but users may have sought to circumvent the geoblock using services such as VPNs. The investigation, details of which have not yet been confirmed…

Read More
Blockchain 

Mexican Crypto Exchange Bitso Seals DLT License from Gibraltar Regulator

Mexican cryptocurrency exchange Bitso will from now on be regulated by the Gibraltar Financial Services Commission (GFSC), a July 19 announcement revealed. An apparent first in Latin America In what Bitso claims is an apparent first in Latin America, as of August 1, the custody, withdrawals, deposits and trading of cryptocurrencies on its platform will be overseen by the GSFC under a framework specifically evolved to regulate businesses in the distributed ledger technologies (DLT) sector.  GSFC’s Distributed Ledger Technology Regulatory Framework — finalized in January 2018 — focuses on ensuring…

Read More
Ethereum 

Seed CX Subsidiaries Receive Bitlicenses From New York Regulator

New York state financial regulators have issued virtual currency licenses to two subsidiaries of crypto derivatives firm Seed CX: Seed Digital Commodities Market LLC (SCXM) and Zero Hash LLC. In a press release published on July 15, Financial Services Superintendent Linda A. Lacewell announced that the New York State Department of Financial Services (DFS) has approved the applications of SCXM and Zero Hash for virtual currency licenses. SCXM operates as a spot exchange for digital asset commodities while Zero Hash is a calculation and settlement agent for digital assets. With…

Read More
Ethereum 

US Elections Regulator Gives Tentative Go-Ahead to Campaign Token

The Federal Election Commission (FEC) has tentatively approved an ERC-20 token issued by Omar Reyes to use in an incentives program for his congressional campaign. The FEC reviewed the coin project in a draft advisory opinion on July 5. According to the draft letter, the FEC believes Reyes is within his rights to issue his Ethereum-based “Omar2020Token” (OMR) as part of his campaign to join the United States House of Representatives from the 22nd Congressional District of Florida.  The FEC argues that because the tokens are essentially souvenirs, with no…

Read More
Cryptocurrency 

This UK Financial Regulator Has a Problem with Facebook’s Libra Coin

Most individuals in the crypto space have been following the journey of the Libra coin, Facebook’s recently unveiled cryptocurrency. From month-long rumors to the company unveiling it last month to Binance reportedly entering discussions with Facebook over it, the public has long known about Libra coin. And today, July 2, there is even more news about it. But it’s not good. More News About the Libra Coin On Tuesday, July 2, The Guardian reported that Christoper Woolard has warned against the Libra coin. Woolard, who is a senior financial regulator…

Read More
Ethereum 

British Regulator FCA Prepares a Potential Ban of Crypto CFDs for Retail Investors

British financial watchdog, the Financial Conduct Authority (FCA), is preparing a potential ban on the sale of crypto derivatives to retail investors, according to an official document released on July 1. In the document, titled “Restricting contract for difference products sold to retail clients,” the FCA revealed that the regulator will soon publish a consultation paper (CP) on a potential ban on crypto derivatives such as bitcoin (BTC) futures and other crypto-related trading products. The FCA wrote: “We will shortly publish a CP on a potential ban on the sale…

Read More
Blockchain 

Facebook Seeks BitLicense From New York State Regulator

Social media giant Facebook has applied for a cryptocurrency business license to use its announced virtual currency Libra in New York, according to a report by Reuters on June 28 New York requires a special license for crypto operations called the BitLicense, which is a product of the state’s finance regulator, the New York State Department of Financial Services (NYDFS).  According to the report, Facebook has also been in contact with regulators in England and Switzerland, presumably to discuss the terms of Libra compliance.  Facebook is reportedly aiming to launch…

Read More
Bitcoin 

Iceland’s Financial Regulator Approves Blockchain-Powered E-Money Firm

The Financial Supervisory Authority (FME), Iceland’s sole financial regulator, has approved the first blockchain-powered e-money firm in the country, crypto media outlet CoinDesk reported June 14. Reykjavik-based Monerium, backed by blockchain software company ConsenSys, has reportedly been approved by the Icelandic financial watchdog to provide fiat payment services using ethereum (ETH) blockchain. According to the report, Monerium has become the first company to operate under an electronic money framework, a major European regulatory framework that enabled the firm to offer blockchain-powered e-money services across the European Economic Area (EEA). Monerium…

Read More
Blockchain 

Former Financial Regulator Deputy Governor to Serve as Blockchain Association Chief

The former deputy governor of South Korea’s financial regulator, the Financial Supervisory Service (FSS), has been nominated to lead the Korea Blockchain Association. The news, revealed by the association on Monday, was reported by local English-language daily The Korea Times on June 13. The Korea Blockchain Association seeks to create regulations for blockchain technology and the cryptocurrency sector, and counts crypto exchanges, crypto-related enterprises and public institutions as members. It is reportedly set to appoint Oh Gap-soo, 70, to the role at a forthcoming general meeting scheduled for June 24.…

Read More
Bitcoin 

Securities Regulator Issues Suspension to Crypto Investment Firm, Associated Crypto

Italy’s national securities regulator, La Commissione Nazionale per le Società e la Borsa (CONSOB), has issued a notice suspending investment firm Tessline and its cryptocurrency liracoin. The news was reported by Cointelegraph Italy on June 4. In its notice, CONSOB stated that a series of entities and websites affiliated with both Tessline and liracoin are ordered to terminate their violation of Article 18 of Italy’s Consolidated Law of Finance. According to a translation from the European Corporate Governance Institute, Article 18 stipulates statutory requirements for the provision of investment services…

Read More