licensing regime
Independent Reserve Considers Expansion to Hong Kong
Independent Reserve, an Australia-based cryptocurrency exchange, is exploring opportunities to expand its business in Hong Kong following the city’s recent proposal of a licensing regime for crypto exchanges. The company sees Hong Kong as a potential friendly jurisdiction for its business expansion in Asia.
European Union Introduces Comprehensive Crypto Law
The European Union has introduced a new crypto licensing regime called Markets in Crypto-Assets (MiCA), making it the first major jurisdiction in the world to introduce a comprehensive crypto law. The EU also voted in favor of a Transfer of Funds regulation that requires crypto operators to identify their customers in a bid to halt money laundering.
Why Hong Kong is Still Not Ready to Become Asia's Leader in Crypto and Blockchain
During a live webinar, as part of the UK FinTech Week, Clara Chiu, the Head of Fintech Unit & Director of Licensing at the SFC explicitly stated that Hong Kong does not have the mandate to create a large regulatory regime for cryptocurrencies or to attract more investors or players in the crypto field. Rather than promoting the crypto sector, Hong Kong is rather focused on protecting investors and promoting new regulations for the same reason. Is focusing on licensing enough for the city?
UK FCA Regulator Announces “Temporary Registration Regime” Extending Operating Deadline for Crypto Firms
The UK’s FCA has just announced a “temporary registration regime” which allows crypto firms who have previously applied to continue operating until July 2021.
Louisiana State Congress Unanimously Pass Crypto-Business Licensing Bill
Crypto businesses may be offered a regulated path to legalization in the state of Louisiana. The proposed bill has been backed by Louisiana state representative Mark Weight. Should the bill be passed, the state would have a regulated crypto framework to operate within and would provide an official definition of traditionally ambiguous cryptocurrency-related terms.
Chainalysis: Venezuela’s State-Owned Crypto Exchange Possibly Used by Maduro Regime to Launder Funds
Blockchain analysis company Chainalysis wanted to find out whether the claims of whether Petro aiding Venezuelans are true.
Dubai Economy Gets Powered by UAE KYC Blockchain Platform for Safe Digital Customer Onboarding
The Dubai economy has gone live on the UAE KYC (Know-Your-Customer) blockchain platform making instant bank accounting functionality, secure digital customer onboarding, and sharing of verified data between financial institutions and licensing authorities possible.
The Thrill Behind Non-Fungible Tokens
A non-fungible token (NFT) is a digital asset whose ownership is blockchain-based, and its value is pegged on its uniqueness. Some of the most common use-cases of NFTs include event tickets, game items, digital collectibles, software licensing, digital certificates, in-game props, authentication certificates, and domain names.
Maduro: Venezuela to Activate Crypto Payment Method ‘Soon’
Taking a page from North Korea, Venezuela is looking to skirt U.S. sanctions by using crypto. According to Bloomberg, Venezuelan President Nicolas Maduro announced a crypto payment method that they will activate “very soon.”
UK's Tax Authority Ready to Invest Up to $130,000 in Blockchain Analytics Tool to Track Crypto Cybercriminals
The UK tax authority HM Revenue and Customs (HMRC), is looking for an analytics tool using blockchain to enhance the process of identifying criminals who are trading in cryptocurrencies online.
Kraken’s Subsidiary Becomes the First Licensed Derivatives Platform to Offer Leveraged Crypto in the EU
Kraken Futures, a subsidiary of Kraken, also known as Crypto Facilities has announced it had been granted a Multilateral Trading Facility (MTF) license from the United Kingdom’s Financial Conduct Authority (FCA).
First Crypto Fund Approved by Hong Kong’s Financial Regulator Aims to Pass $100M in its First Year
Hong Kong’s first approved cryptocurrency fund, Arrano Capital, the blockchain arm of Venture Smart Asia announced its rollout of a new Bitcoin fund in Hong Kong.
Venezuela’s Central Bank Considers the Potential of Bitcoin and Ethereum
In the face of global isolation from international financial systems and imposed US sanctions on state-run PSDV (Petroleos de Venezuela S.A.) , Venezuelan’s Central Bank is looking to explore Bitcoin and Ethereum payment systems.
Crypto Exchange CEX.IO Receives Temporary Registration Status with UK FCA
The UK Financial Conduct Authority (FCA) has granted crypto exchange CEX.IO a temporary registration status to operate until July 9, 2021.