Category: Regulation
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ECB Chief Christine Lagarde Calls for Global Bitcoin Regulation — Says BTC Conducts ‘Funny Business’
The president of the European Central Bank (ECB), Christine Lagarde, has called for the global regulation of bitcoin. She said that bitcoin is a highly speculative asset and has “conducted some funny business.” Emphasizing the need for countries to work together to regulate bitcoin, she suggested that the crypto regulation could be “initiated by the…
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US President-Elect Biden to Nominate MIT Blockchain Professor Gary Gensler as SEC Chairman
The U.S. President-elect Joe Biden is set to name Gary Gensler as the new chairman of the U.S. Securities and Exchange Commission (SEC) to replace Elad Roisman. During Obama’s administration, Gensler led the U.S. Commodity Futures Trading Commission (CFTC) from 2009 to 2014. The Former Banker Became Part of Biden’s Transition Team in November According…
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Mastermind of $147 Million Crypto ‘Scam of Epic Proportions’ Sentenced to 10 Years in US Prison
The mastermind of what the U.S. Department of Justice calls a scam of “epic proportions” has been sentenced to 10 years in prison. His crypto scheme collected over $147 million, duping 72,000 investors. He is also ordered to pay the U.S. Internal Revenue Service more than $1.8 million for tax evasion. Scam Involving Fake Cryptocurrency…
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Darknet Giant Darkmarket Shut Down, Alleged Operator Arrested
The authorities in seven countries and Europol have jointly taken down Darkmarket, one of the largest darknet marketplaces. The action was taken after the marketplace’s alleged operator was arrested in Germany. Authorities Shut Down Darkmarket Europol announced Tuesday that darknet marketplace Darkmarket has been taken down. The announcement details: Darkmarket, the world’s largest illegal marketplace…
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New Zealand Watchdog Issues Warning on Crypto Investments Following Bitcoin’s Latest Price Drop
New Zealand’s financial regulator issued a warning alert to local cryptocurrency investors and traders amid the recent bitcoin’s price action. The Financial Markets Authority (FMA) asks people to remain cautious because cryptos are “high risk and highly volatile assets.” FMA Warns About Unregulated Overseas Crypto Exchanges According to an official statement published in the NZ…
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Reuters: Gary Gensler, MIT blockchain professor and Obama’s CFTC chair, to head Biden SEC
Gensler taught a course on “blockchain technology’s potential use — by entrepreneurs and incumbents — to change the world of money and finance.”