In the past week a lot of is around the globe time and again in terms of regulatory events. In the series, “regulating in the week, looking back,” we look to the week end to back and summarize, what, when, where, and by whom, said, thought, or decided was.
State of New York: the country’s Parliament proposes crypto-Task-Force
The banking Committee of the New York state Parliament adopted last week a draft law that will create a Task Force for crypto-currencies. The Task Force should examine the possible impact of crypto-currencies on the financial markets in the state of New York. According to the draft law, the group shall consist of nine members, submit to the Governor, the Senate President and the speaker of the Assembly until December 2019 a report.
Indonesia: crypto-Futures Trading allows
The Bappebti, an Indonesian regulatory authority in the Ministry of Commerce, has classified crypto-currencies officially as trade goods (Commodities). As a result, this may be at the date of exchange of the country traded. According to a report in the Jakarta Post Dharma Yoga, the head of the market surveillance authority, a decree has been signed, the decision to formalize and to ebbnen the way for the introduction of a Bitcoin Futures product in Indonesia.
SEC: the New Senior Advisor for crypto-currencies
The American regulator SEC (Securities and Exchange Commission) has created a new Senior-Advisory -. The new member of the Senior-level shall monitor the regulation of crypto-currencies in accordance with the Standards of the Securities. In a press release, the SEC announced that Valerie A. Szczepanik will be the first Person appointed to the Post.
Russia: court calls back the blocking of Bitcoin page
The St. Petersburg city court has declared the decision of the land court concerning a Bitcoin-Info-site. The district court had issued in July of 2016, a ban on the page bitcoininfo.ru since crypto-currencies were banned at the time in Russia. The St. Petersburg court ruled, on the Basis of a complaint, the operator of the Website.
Belgium: government warns population against crypto-Scams
The Belgian government supports a Website, the crypto-warn investors against potential Scams. Is operated by the Belgian Federal Public service economy and the financial market Supervisory authority. Crypto-Assets were “the Hype of the year,” warns the website. Further, it States that Token, since they are extremely easy to develop, can be used for illegitimate purposes, including for “fraud, drug trafficking, terrorism or other criminal activities”.
Japan: FSA denied for the first Time, a crypto-Exchange, the license
For the first Time, Japan’s Financial Services Agency (FSA) has denied a crypto-Exchange, the permission to operate in the country. The regulatory authority has decided to refuse the registration for FSHO in Yokohama, whose services had already been twice suspended by the FSA in spring of this year, permanently. The stock exchange operator had not checked the identity of the customers in case of suspicious transactions sufficient.
SEC: Bitcoin, according to Jay Clayton, no Security
Jay Clayton, the Chairman of the U.S. Securities and Exchange Commission (SEC), believes that Bitcoin is not a security (Security), since it acts as a replacement for government currencies. A different look at ICOs, which he considered still as a Securities.