G20 Agrees to Regulate Crypto, But is This Good or Bad for the Market?

The G20, an international forum for the governments and central bank governors from the world’s 20 largest economies, has decided to regulate the crypto sector. A declaration released by the forum read: “We will regulate crypto-assets for anti-money laundering and countering the financing of terrorism in line with FATF standards and we will consider other responses as needed.” What Impact Could it Have? Over-regulation restricts the growth of emerging asset classes and technologies by limiting the way companies ...

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Japan Approves Self-Regulation for Cryptocurrency Industry

Follow us on Telegram. Japan’s primary financial regulator has formally granted the cryptocurrency industry with a self-regulatory status by allowing an industry body to police domestic exchanges. The Financial Services Agency (FSA) on Wednesday approved the Japan Virtual Currency Exchange Association (JVCEA), a body comprised of all 16 licensed domestic cryptocurrency exchanges, to become a ‘certified fund settlement business association.’ In doing so, the regulator has bestowed the industry body with the means to create guidelines ...

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Singapore Will Help Crypto Firms Set Up Local Bank Accounts

Singapore’s financial regulator is willing to lend a hand to cryptocurrency firms having problems setting up local bank accounts, but doesn’t plan to loosen its rules to lure more crypto startups to the country. “We should not be trying to create an extremely lax regulatory environment in order to attract that kind of business," Monetary Authority of Singapore Managing Director Ravi Menon said Tuesday when discussing the crypto industry in an ...

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ICE’s Bakkt Reveals First Crypto Product as Physical Bitcoin Futures

Follow us on Telegram. Intercontinental Exchange (ICE) confirmed its Bakkt cryptocurrency platform’s first offering will take the form of physical Bitcoin futures. ICE, which also operates the New York Stock Exchange (NYSE) released new details Tuesday, September 25. Bakkt, which ICE has said will be a “regulated ecosystem” for institutional investors aiming to get exposure to cryptocurrency, will offer futures against at least three fiat currencies: the U.S. dollar, British pound sterling and euro. “Our first contracts will be physically ...

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