The popularity of digital assets in the global market has grown significantly, owing to the rapid rise of these assets. While some nations remain undecided regarding the legality and adoption of cryptocurrency, others are already laying the groundwork for it. In January, Bitcoin ambassador Nayib Bukele, the president of El Salvador, offered estimations about Bitcoin...
Panama has chosen to take a backpedal over the legalization of digital assets across the country, citing one integral factor. According to several reports, President Laurentino Cortizo of Panama has said that he will not affix his signature on the crypto bill. In the statement, the president said that the only way a reversal can...
South Korea has announced that firms involved in digital assets and related products might soon be migrated to a brand new regulatory framework. According to the report, which claims a source from the government, the new framework will ensure regulations tailored to help investors. In the information, the new regulatory framework will specifically target known...
BaFin, the agency charged with the supervision of financial activity across Germany, has called for establishing a direct and innovative DeFi regulation across Europe. The agency’s statement was reiterated by its executive, Birgit Rodolphe, who talked about the importance of having a uniform rule across the continent. BaFin is the agency tasked with regulating and...
California had banned crypto adoptions in the political sphere for some time, focusing more on contributions to electoral activities. However, with the slight increase in adoptions within the country, legislators may consider relaxing their laws. The political agency in California, the FPPC, would be analyzing regulatory policies based on cryptos and could modify them next...
The Australian Tax Office (ATO) has released a report this week outlining areas it will be focusing on in the coming year, including crypto capital gains. The agency announced its four priority areas for this year’s Tax Time on Monday, singling out crypto as a potential area of concern. The taxation body revealed that nearly...
The United Kingdom is now seriously considering the regulation of stablecoins for use in the country. According to a Department of Treasury report, there are high chances that the digital assets would be regulated and be adopted as a legal tender in the country. Although the move has seen positive green lights from crypto enthusiasts...
The Nigerian Securities and Trade Commission has issued new rules for issuing, trading, and holding virtual assets in the country. The news comes 20 months after the Commission expressed its stance on crypto assets and how to categorize and manage them. The SEC’s stance contrasts sharply with the Central Bank of Nigeria (CBN). The CBN...
On Friday, Central Africa’s regional banking organization issued a warning about its restriction on cryptocurrencies only weeks after the Central African Republic (CAR) declared bitcoin lawful money. The Banking Commission of Central Africa (COBAC) supervises the economic sector in the six nations that make up the Central African Economic and Monetary Community (CEMAC). After the...
Janet Yellen has made some thoughtful remarks about the proper way to regulate digital currencies and assets, innovation, and their rules. The current gloomy environment surrounding the crypto market necessitates government regulation of the cryptocurrency industry. In a recent interview, the Treasury Secretary, Janet Yellen, noted the financial services sector’s incredible growth from $14 billion...