CoinTelegraph Japan reports that virtual asset service providers (VASP) will be providing a formal response towards a set of recommendations for virtual currencies set forward by the Financial Action Task Force (FATF). This response will be in the shape of a so-called V20 summit, which they hope to convene alongside the G20 Leaders Summit in Osaka, Japan on 28 and …

The Financial Industry Regulatory Authority (FINRA) is backlogged. Or if not, it appears to be holding back on giving approval to around 40 crypto broker-dealers waiting for a green light to operate. FINRA is a non-governmental organization that regulates member brokerage firms and exchange markets in the US. Its government agency counterpart, which acts as the ultimate regulator of the …

The Banning of Cryptocurrency and Regulation of Official Digital Currency Bill 2019 has been drafted and has started circulating in all the relevant departments, that is, the Department of Economic Affairs (DEA), Central Board of Direct Taxes (CBDT), Central Board of Indirect Taxes and Customs (CBIC) and the Investor Education and Protection Fund Authority (IEPFA). All these departments have approved …

Bitcoin.com reports that a gathering of crypto communities in India are now petitioning their government for faster clarification of crypto regulation. This comes after widespread reports and rumors about an upcoming Indian bill to ban crypto. The Upper House of the Indian Parliament has also reportedly used its television network to broadcast a discussion of the bill as three Right …

Some further clarity for regulation in the cryptocurrency could be the result of the Financial Action Task Force’s (FATF) next publication scheduled for 21 June. The regulations, targeting cryptocurrency exchanges, custodians, wallets and cryptocurrency-related businesses, are continually being monitored by the FATF, but this next publication has some virtual asset service providers wondering what to expect. The objectives of the …

Forbes business journalist Andrea Tinianow has reported that the State of Rhode Island has now issued a proposal to implement blockchain technology in its state governance. According to her, the State of Rhode Island issued a Request for Proposals (RFP) on 31 May, asking for a proof of concept of blockchain implementation “to be more efficient, transparent, accurate, secure and business friendly” According …

A former employee of Merril Lynch was fined USD 5,000 by the Financial Industry Regulatory Authority (FINRA) when it was observed that the employee’s crypto mining activities did not conform with associated rules. Kyung Soo Kim, the fined employee signed a letter of acceptance, waiver and consent. This is in accordance with the documents signed on 10 June: “FINRA Rule …

Finance leaders and their central bank counterparts at the G20 meeting in Fukuoka, Japan, have made a joint request to the Financial Stability Board (FSB) and global standards organizations to offer a cooperative response to monitor risks around crypto assets. The document, co-signed by the leaders, urges relevant bodies to give greater focus to crypto and to consider relevant steps to be taken, …

Pavel Durov, best known for being the founder of the social networking site VK and Telegram Messenger, is looking inwards to search for answers to help him improve Telegram. To those who know the CEO of the encrypted messenger service, this perhaps won’t come as a surprise as his clean living has been well documented elsewhere. According to Durov, he’s …

According to a report by BloombergQuint, Indian lawmakers have drafted a bill supporting a 10-year prison sentence and hefty fines for any kind of crypto dealings in India. This comes hand-in-hand with the proposal for introduction of India’s official digital currency, ‘Digital Rupee’. As per the ‘Banning of Cryptocurrency and Regulation of Official Digital Currency Bill’, if passed, a severe …