IOSCO Pledges to Deliver Sustainable Finance & Crypto Work in 2023
OSCO identified private finance as a new priority for the 2023-24 work programme, due to "unprecedented growth" in this area, its increasing role in funding the real economy, and heightened concerns around increasing interconnectivity with regulated public markets at a time of heightened interest rate risk.
Binance Asked to Provide More Information as Dubai Tightens Screws Against Crypto Entities
The collapse of the crypto exchange FTX prompted Dubai regulators to ask for more information from crypto license applicants such as Binance, a Bloomberg report has said. According to the April 5 report, officials from Dubai’s Virtual Assets Regulatory Authority (VARA) have in recent weeks told Binance, which already holds the minimal viable product license, to share more information concerning its ownership structure, governance, and auditing procedures.
Singapore Banks Form New Alliances for Vetting Crypto Clients
Singapore banks are working with the country’s Central Bank and police to develop a vetting process for crypto clients. The collaboration comes amid severe volatility in the crypto market following several scandals and bankruptcies.
Crypto and the Microsoft Mastermind: Is Bill Gates Invested in Bitcoin?
As cryptocurrencies become more widely adopted around the world and blockchain is touted as one of the most important technological achievements of the 21st century, many people wonder if Bill Gates, the co-founder of the American technology mammoth Microsoft (NASDAQ: MSFT), has already jumped on the crypto train.
Islam and Crypto: How Digital Assets Can Comply With Islamic Financial Law
The use of digital assets in Islamic finance is a topic of growing interest, as more and more investors seek to incorporate cryptocurrency and blockchain technology into their portfolios. However, there are concerns about whether digital assets are in compliance with Islamic financial law, which prohibits certain types of financial activity, such as charging interest and engaging in speculative transactions.
Crypto Evening Briefing: Japan Approves Web3 White Paper to Promote Industry Growth in the Country
The document proposes more tax reform, clearer accounting standards and a DAO law.
Japan Approves Web3 White Paper to Promote Industry Growth in the Country
Japan's ruling Liberal Democratic Party's Web3 project team has approved a white paper laying out recommendations for growing the country’s crypto industry. The white paper proposes changes to tax regulation, including tax exclusions for companies holding tokens issued by other companies that are not going to be traded short-term, and allowing self-assessments so that investors can carry over losses for three years. It also proposes setting up a DAO law based on Japan's godo kaisha and making changes to regulations under the Companies Act and the Financial Instruments and Exchange Act. The white paper notes that large companies in Japan have shown interest in the Web3 industry, but approvals for banks and insurance companies entering the industry remain unclear. The paper also proposes public-private partnerships to formulate guidelines on legal business models for fantasy sports services and recommends the issuance of crypto visas to skilled workers.
Cryptocurrencies: United States Falling Behind in Innovation, According to BlackRock CEO
Larry Fink, CEO of investment management company BlackRock, recently expressed concern that the United States is falling behind in the innovation of cryptocurrencies compared to other countries.
Crypto BULL Market Coming! The Next Crypto Cycle
With each four-year Bitcoin cycle, more and more people join the great crypto rush of the 21st century.
Indian Government Answers Questions About Crypto Legalization, Fraud Prevention
The Indian government has responded to parliamentary questions about the legalization of cryptocurrency and the steps it has taken to prevent crypto-related fraud. “Crypto assets are currently unregulated in India. Frauds relating to crypto are dealt with under extant laws against fraud and cybercrime,” the Minister of State for the Ministry of Finance told parliament.
