Bank of Spain issues registration guidelines for crypto services

All individuals and institutions in the country, including banks, will have to sign up using the new AML registry from the Bank of Spain. The central bank of Spain is introducing new registration guidelines for local virtual currency service providers, or VASPs, including banking institutions.The Bank of Spain has issued instructions on VASP registration for Anti-Money Laundering, or AML, purposes, requiring institutions to submit their registration requests through an electronic registry, Cointelegraph en Español reported Oct.

Tether Partners With Identity Startup Notabene on Travel Rule Compliance

Stablecoin issuer Tether is taking steps to be more compliant with global crypto regulations.Tether announced on Tuesday that it has begun a trial partnership with Notabene, a digital identity startup that provides know-your-customer (KYC) infrastructure to crypto exchanges, to help it comply with the Financial Action Task Force (FATF)’s “travel rule,” which requires financial institutions to exchange KYC information for both senders and recipients of relevant transactions.The Paris-based global, money-laundering watchdog’s guidelines for crypto compliance have expanded to include exchanges and stablecoin issuers, which it calls virtual asset service providers, or “VASPs”.Tether’s trial partnership with Notabene comes as the stablecoin issuer wrestles with probes and lawsuits from regulators over its financial backing, and accusations from the crypto community that it has not been transparent.According to Tether Chief Compliance Officer Leonardo Real, the partnership with Notabene is meant to help Tether improve its global regulatory compliance and transparency, as well as to improve its products.“As pioneers of blockchain technology and leaders in transparency, we are dedicated to not only keeping up with new rules but helping shape them,” Real wrote in a press statement.He added: “Because the Travel Rule traditionally applies to financial institutions, we see this as an opportune moment to foster cooperation across traditional and digital channels in order to create better services for customers globally.”

FATF’s New Guidelines Drop Next Week, Will Tackle Stablecoins, NFT & DeFi

The Financial Action Task Force (FATF) will publish its updated guidelines on crypto sector policing next week – and will broaden its scope to include stablecoins, peer-to-peer (P2P) platforms, non-fungible tokens (NFTs), and decentralized finance (DeFi).

Crypto businesses need to adhere to the US OFAC compliance guidelines

A Bitcoin Futures ETF is ready to start trading on the market, but that doesn't mean American regulators are letting crypto companies and innovators off the hook.

Valve Bans Games Built on Blockchain, NFTs, and Cryptocurrencies From Steam Gaming Platform

This past week, Valve, the parent company of the video game digital distribution service Steam updated its distribution onboarding guidelines.

Steam Boots Blockchain-Based Video Games From Its Platform

The company behind Steam updated its rules and guidelines to prohibit applications that issue or allow cryptocurrencies or NFTs to be exchanged.

US Office of Foreign Assets Control Releases Guidance for Crypto Space

The US Treasury Department is releasing new sanction guidelines for the cryptocurrency industry.

Bitcoin ETF approval 'pretty much a done deal' after SEC shares guidelines

The anticipation around the approval of a Bitcoin ETF in the United States has been gaining momentum over the past few weeks. In fact, earlier today, the investor education handle of the US SecuriThe post Bitcoin ETF approval 'pretty much a done deal' after SEC shares guidelines appeared first on AMBCrypto.

G7 Finance Ministers and Bankers Adopt Guidelines for Central Bank Digital Currencies

Any digital currency issued by a central bank must support financial and monetary stability, finance leaders from G7 member states have insisted.

Coinbase releases regulatory proposal demanding 'certainty for everyone'

Coinbase has proposed a set of regulatory guidelines as part of its Digital Asset Policy Proposal (dApp).

G7 leaders issue central bank digital currency guidelines

Financial leaders from the G7 agree that CBDCs would complement cash and should not be detrimental to the monetary system.

G7 Set to Release the Guidelines for the Creation of CBDCs

The Group of Seven (G7) industrialized nations are looking forward to accepting the proposals of a draft which seeks to enshrine some set of standards in the creation and issuance of CBDCs.

YouTube deletes and restores Bitcoin bull Anthony Pompliano's channel

According to Pomp, he had not violated YouTube’s community guidelines and his most recent video didn’t have any questionable content. Video sharing platform YouTube removed the 251,000-subscriber channel of Anthony 'Pomp' Pompliano, co-founder of Morgan Creek Digital and host of The Pomp Podcast, before later restoring it.In an Oct.

Canada: No more superlatives after latest guidelines on crypto-platform advertising

Investment instruments, like mutual funds, have to adhere to certain disclaimers and risk warnings while advertising.

Canadian regulators warn against 'gambling style' advertising and marketing in guidelines for crypto companies

“Misleading advertisements and improper marketing strategies may encourage investors to take on risks they would normally avoid," said CSA chair Louis Morisset. The Canadian Securities Administrators, or CSA, and Investment Industry Regulatory Organization of Canada, or IIROC, have issued guidelines for crypto trading platforms operating in the country to avoid “advertising and marketing materials that could mislead investors.” In a Sept.

US Blockchain-organisation BBA Publishes Crypto Toolkit Guidelines for Regulatory Consideration

The Boston Blockchain Association (BBA) has published a toolkit that will guide Massachusetts lawmakers in their efforts to create crypto laws.

BBA pushes for crypto regulatory clarity in Massachusetts

The Boston Blockchain Association has published crypto regulatory advisory guidelines for lawmakers in Massachusetts to consider. The Boston Blockchain Association, or BBA, together with Boston-based media house Media Shower and the Chamber of Digital Commerce are working to lobby for favorable crypto regulations in Massachusetts.According to a release issued on Monday, the BBA in collaboration with Media Shower and the Chamber of Digital Commerce has released a crypto regulatory toolkit for lawmakers in the state.Dubbed the Massachusetts Edition of the Legislator’s Toolkit for Blockchain Technology, the document reportedly aims to guide policymakers in the state towards enacting laws that will benefit the cryptocurrency industry within the Commonwealth.The policy document reportedly covers five core recommendations for crypto-related legislative actions including tax laws, regulatory sandboxes, and the creation of a working group to study blockchain technology.Legal and regulatory sandboxes often provide a suitable environment for crypto startups to begin early operations within being burdened by onerous laws and guidelines.According to the announcement, the policy document is similar to the Texas Edition of the toolkit developed by the Texas Blockchain Council.The crypto regulatory toolkit comes as Massachusetts lawmakers are considering three cryptocurrency and blockchain-focused pieces of legislation including the Senate Bill 200 that is aimed at studying the novel tech and its areas of application.Related: Massachusetts regulator seeks to revoke Robinhood’s broker-dealer licenseCrypto policy toolkits by industry proponents are becoming a regular feature of the dialog between blockchain groups and policymakers.

NFL reportedly bans teams from crypto advertisements and NFTS sales

The NFL has reportedly restricted cryptocurrency and NFTs until the league establishes a strategy “for sports digital trading cards and art.” The United States National Football League (NFL) has reportedly barred all teams and members from crypto-related sponsorships and advertisements, as well as nonfungible token (NFT) sales. According to a report by The Athletic, the NFL has restricted the sale of sponsorships to cryptocurrency trading firms and NFTs until the league establishes a strategy “for sports digital trading cards and art.” The new guidelines were shared by an anonymous NFL member familiar with the matter:“Clubs are prohibited from selling, or otherwise allowing within club controlled media, advertisements for specific cryptocurrencies, initial coin offerings, other cryptocurrency sales or any other media category as it relates to blockchain, digital asset or as blockchain company, except as outlined in this policy.”Going against the NFT and token sales trends from mainstream soccer teams such as PSV Eindhoven, Manchester City and Arsenal, as well as the National Basketball Association, the NFL has ruled out creating or selling team NFTs, at least for now.The NFL official reportedly said that teams would only be allowed to discuss sponsorship deals with crypto-related “investment advisory and or fund management services” if their advertising sponsorship rights are limited to promoting the company’s corporate brands.The NFL did not immediately respond to Cointelegraph’s request for comment.Related: NFL’s Saquon Barkley converting endorsements to BTC to create ‘generational wealth’Legendary footballer Lionel Messi, tennis star Naomi Osaka and others sports stars have previously shown interest in crypto investments.

South African Tax Body Updates Crypto Tax Guidance, Confusion Persists

In late August, the South African Revenue Service (SARS) released new guidelines that clarify the correct treatment of taxable crypto events.

After Ghana, Nigeria is the next African nation to reveal CBDC plans, issues guidelines

Africa is witnessing a constantly increasing interest cryptocurrencies.

Nigerian Central Bank Reveals CBDC Guidelines, Announces Plan to Launch E-Naira Wallet

The Central Bank of Nigeria (CBN) has reportedly confirmed that its e-naira digital currency will have a legal tender and non-interest-bearing asset status.

Nigeria's central bank issues draft guidelines on eNaira CBDC project

CBN says the proposed central bank digital currency will offer parity of value and will operate as a non-interest-bearing CBDC. The Central Bank of Nigeria (CBN) has issued preliminary guidelines for its proposed eNaira digital currency.In a sensitization document sent to commercial banks in the country, the CBN outlined several design features of the central bank digital currency (CBDC).According to the document seen by Cointelegraph, Nigeria’s CBDC is codenamed “Project Giant” and will be pegged to the value of the naira.Thus, the eNaira will offer parity of value but will not be an interest-bearing currency.

Treasury secretary Yellen urges lawmakers to quickly introduce stablecoin guidelines

The President’s Working Group on Financial Markets expects to deliver regulatory recommendations for stablecoins in the coming months. United States Treasury Secretary Janet Yellen has told financial regulators that the government must act quickly to establish a regulatory framework for stablecoins.The comments came at Monday's meeting of the President's Working Group on Financial Markets.

Indian high court seeks ad disclaimers from crypto exchanges

India’s Delhi High Court is looking to put a clear voiceover and a disclaimer covering 80% of the screen on crypto ads on national TV. Amid the ongoing regulatory uncertainty to cryptocurrencies in India, a high court in the country’s capital is taking action to regulate advertising by local crypto exchanges.The Delhi High Court has issued notices to local authorities and crypto firms in an effort to enforce guidelines for crypto exchanges advertising on national television, the New Indian Express reported Wednesday.The court is seeking responses from the Securities and Exchange Board of India (SEBI), the Ministry of Information and Broadcasting, as well as major Indian crypto exchanges including CoinDCX and WasirX, and aims to discuss the issue in August.According to the report, lawyers Ayush Shukla and Vikash Kumar have urged the court to ask the SEBI to issue ad guidelines requiring crypto audio-visual ads to include a disclaimer covering 80% of the screen, accompanied with a voiceover reading lasting at least five seconds.

Crypto ads no longer allowed on TikTok

These new guidelines probably mean there won't be any more Dogecoin hyping on the platform. TikTok announced on Friday that certain types of ads would no longer be allowed on their platform.

Philippine Stock Exchange wants to launch local crypto markets first

The Philippine Stock Exchange is waiting for the local SEC to issue guidelines for crypto trading.

Korean Banks to Be Relieved of Liability for Crypto-Related Crime, Report Suggests

Banking institutions in South Korea have reportedly requested to not be held accountable for crimes linked to cryptocurrencies such as money laundering.

Indonesia's central bank marshals staff to enforce crypto payments ban

Indonesia’s central bank is sending supervisors out to ensure local financial institutions aren’t defying the nationwide ban of crypto payments this bull season. Indonesia’s central bank governor, Perry Warjiyo, is mobilizing official supervisors to enforce the country’s ban on financial institutions using crypto assets as a means of payment.During a virtual seminar on Tuesday, June 15, Warjiyo reiterated that local financial firms and payment provided are prohibited from facilitating the use of cryptocurrency to settle payments or as an instrument used in other financial services.The central bank governor emphasized that crypto assets are “not legitimate payment instruments under the constitution, Bank Indonesia Law, and Currency Law,” noting that field supervisors will be sent out to ensure that local financial institutions adhere to the policy.Bank Indonesia prohibited financial institutions from using crypto for payments in late 2017, with the central bank halting payment processors from using cryptocurrency to settle transactions the previous year.Despite the central bank’s prohibition of crypto for payments and its early 2018 warnings against virtual currency, Indonesia’s Commodity Futures Trading Regulatory Agency issued regulations in February 2019 that legitimized cryptocurrencies as speculative commodities and paved the way for cryptocurrency derivatives to be traded on local stock exchanges.The guidelines provided a legal framework for “the trading of crypto assets as commodities that could become the subject of futures contracts and other derivative contracts traded in the stock market.”Warjiyo’s warning emphasizing the ban comes just weeks after he announced Bank Indonesia is working on a central bank digital currency (CBDC).

Korean banks will need to classify crypto exchange clients as ‘high risk’

A further tightening of cryptocurrency regulation in South Korea is underway, with new rules for banks and crypto exchange operators. New rules announced by South Korea's Financial Services Commission, or FSC, are expected to affect around 60 unauthorized cryptocurrency exchanges in the country and a new policy for banks will require that they classify any crypto exchange clients as “high risk.”According to the Korea Times, the new guidelines were announced on Sunday and are intended to ensure that crypto exchanges strengthen their monitoring of transactions and uphold strong user ID requirements.

Thai SEC bans exchanges from handling certain token types including NFTs

Local exchanges now have until July 11 to update their rules for listing tokens to be in compliance with the SEC guidelines.

India: Binance-acquired WazirX gets show-cause notice claiming it's 'safe haven for money laundering'

India's Directorate of Enforcement, on Friday, issued a show-cause notice to Indian crypto-exchange WazirX for violating FEMA guidelines for transactions involving cryptocurrencies worth Rs.

Chinese MIIT Issues Guidance on Blockchain Technology

China has issued guidelines for promoting the application of blockchain technology and industrial development.

Chinese government agency issues blockchain development roadmap

China’s “blockchain not crypto” stance continues as one government agency publishes guidelines to accelerate the adoption of tokenless blockchain solutions. China’s Office of the Central Cyber Security and Information Committee of the country’s Ministry of Industry and Information Technology (MIIT) has identified four essential application areas for blockchain adoption.The MIIT’s five-point agenda for blockchain adoption was part of a document issued on Monday detailing guiding opinions to accelerate the promotion of the emerging technology for industrial development.As previously reported by Cointelegraph, China’s President Xi Jinping previously called for rapid blockchain adoption back in October 2019.Presenting its argument for blockchain adoption, the MIIT document described the novel tech as “an important part of the new generation of information technology.” According to the IT ministry, blockchain is among a raft of new innovations like big data and artificial intelligence that are critical to China’s continued progress.The MIIT document listed the economy, finance, industrialization and public services as the main focus for blockchain development in the country.According to the MIIT publication, traceability, data sharing and supply chain management are some of the use cases for blockchain that could have a significantly positive impact on the real economy.In the area of finance, the MIIT publication called for the promotion of a greater intersection between blockchain and other emerging technologies like cloud computing, AI and the internet.The MIIT’s proposal for blockchain adoption for public utilities also included concepts like smart cities and the utilization of the novel tech in government services.

US senator: we haven’t figured out how to trace cryptocurrency... Why is this an issue?

The cryptocurrency businesses and holders in United States have been urging regulators to put guidelines in place, however, the lack of clarity still prevails.

Central Bank of Brazil Issues Guidelines for Its CBDC

The Central Bank Of Brazil, the highest monetary authority of the country, has released a note listing the general guidelines for the design of a hypothetical central bank digital currency (CBDC) for the country.

US regulators must collaborate on ‘regulatory perimeter’ for crypto: OCC head

Acting OCC head, Michael Hsu, wants greater inter-agency cooperation in establishing regulatory guidelines for the crypto sector.

Sichuan Energy Officials Plan to Meet in June to Discuss Bitcoin Mining Implications

Ever since government officials in China started talking about cracking down on bitcoin mining and reiterating crypto guidelines from 2017, digital currency proponents and the media have been focused on this region.

OKex embraces Brazil’s official fast payments system PIX, as CBDC draws nearer

OKEx, Crypto.com, and LocalBitcoins have integrated Brazil’s PIX instant payments system. Increasing numbers of offshore cryptocurrency exchanges are embracing Brazil’s instant payments infrastructure, PIX.On May 28, OKEx announced a strategic partnership with local payments firm CuboPay, allowing it to facilitate Tether ($USDT) purchases in exchange for Brazilian real via PIX.The news follows similar moves from rival exchanges, including Crypto.com peer-to-peer platform Localbitcoins.The integrations come as the Central Bank of Brazil, or BCB, published preliminary guidelines for a central bank digital currency, or CBDC, on May 25.The announcement emphasizes that the CBDC will operate “as an extension of the physical currency,” and is intended to improve the retail payment system, foster new business models, and bolster Brazil’s participation in regional and global trade through increasing the efficiency of cross-border transactions.Research into a CBDC was authorized as part of a broader move from Brazil’s central bank to modernize the country’s payments sector, including the launch of PIX in November 2020.

OCC Will Review Its Cryptocurrency-Related Guidance, Says the New Chief

The United States Office of the Comptroller of Currency will analyze its crypto guidelines, which the former administration proposed last year.

Spanish Regulator Issues Guidelines for Fund Managers Planning to Invest in Cryptocurrencies

The Spanish financial regulator is easing the entity’s tough stance towards cryptocurrencies by announcing an unprecedented measure that green lights institutional investors to enter into such business decisions.