In the past week a lot of is around the globe time and again in terms of regulatory events. In our regulatory response we look back at the week end and summarize what was thought about when, where, and by whom said, or decided.
India: Central Bank for crypto regulation
India’s Central Bank, the Reserve Bank of India (RBI), has asked the Supreme court of the state, to regulate Cryptocurrencies. Shyam Divan, the lawyer for the RBI, was the chief judge Dipak Misra that the regulation of crypto-currencies is inevitable. Otherwise, you encourage illegal transactions and activities in the international flow of money.
Ukraine: Financial Stability Council supports crypto regulation
The Ukrainian Financial Stability Council, composed of Central Bank, Ministry of Finance, stock exchange and financial market regulators, supported currencies, a concept for the regulation of Crypto. This Timur Khromaev, head of the National securities and exchange Commission, writes in a Facebook Post. The concept includes, among other things, the recognition of Cryptocurrencies as financial instruments, the roles of state Agencies in the regulation and licensing of market participants.
Switzerland: FINMA takes action against Envion
Such as, the Swiss financial market Supervisory authority FINMA said in a press release, she has opened a case against the Mining company Envion AG. The reason is the suspicion of a violation of financial market law in the framework of the ICOs. The method focuses in particular on possible violations of the banking law due to any unauthorized receipt of deposits from the public in connection with the Initial Coin Offering (ICO) of the EVN-Tokens.
China: “Illegal Miner” stop
The Uighur Autonomous Region of Xinjiang is directed against the Mining. As the Commission of economy and Information of the Region announced that it wants to strengthen its action against “illegal Mining”. Therefore, local operators of Mining will be prompted farms to their activities.
Vietnam: financial market regulator warns on the economic front, cryptographic activities
The Vietnamese securities Commission has warned industry companies and funds in the country, to avoid activities associated with crypto-currencies. Vietnam News reported, the State Securities Commission (SSC) companies to avoid the issue and trading of crypto-currencies. Instead, they are to comply with the laws on money laundering.
Japan: Exchanges want to limit Margin Trading
In Japan has closed, a group of Exchanges to the Japanese Virtual-Currency Exchange Association (JVCEA). The aim of the Association is self-regulation in the crypto scene. As the news portal Jiji reported, introduce them to local trading platforms that investors can only bond four times that of their deposits. The JVCEA want to protect the investors against the unregulated market, which has currently no use.
South Korea: financial market regulators are calling for the law to crypto-Exchanges
A prominent representative of the South Korean financial market regulator Financial Services Commission (FSC) called for a law for the regulation of crypto Exchanges. In an interview with the news portal Bloomberg Hong Seong-ki, the currencies Responsible for Crypto, called on the government Exchanges harder to handle. During the crypto market is growing, the Exchanges in terms of safety, at a low level.
Antigua and Barbuda: citizenship by using crypto currencies to pay
The Parliament of Antigua and Barbuda has announced an economic program, which enables citizens to obtain for 100,000 US dollars a citizenship. The fee can now be paid with Bitcoin and other crypto-currencies. The citizenship program allows almost all of the rights associated with full citizenship.