Uzbekistan’s Progressive Cryptocurrency Reforms: Licensing and Taxation Initiatives
Uzbekistan is undergoing a transformative journey in cryptocurrency regulation, marked by comprehensive licensing requirements and taxation initiatives. These reforms signify a progressive shift in how the nation perceives and manages digital assets, covering a wide spectrum of cryptocurrency-relate ...
Uzbekistan Approves Private Banks for Virtual Cryptocurrency Cards
The Uzbek authorities have authorized private banks Ravnaq Bank and Kapital Bank to issue virtual cryptocurrency cards. This is reported by the National Agency for Advanced Projects (NAPP). The NAPP approved Ravnaq Bank's participation in a pilot project to develop a virtual bank card that can ...
Bitcoin of America Suspends Operations in Connecticut and Compensates Victims for Cryptocurrency Fraud
Company Bitcoin of America, operator of the BTM crypto network, will suspend its operations in the U.S. state of Connecticut for lack of a license and pay compensation of $86,000. The local Department of Banking said Bitcoin of America illegally installed crypto machines ...
France Welcomes Cryptocurrency Companies Amidst Regulatory Uncertainty
Cryptocurrency companies that move away from the uncertainty of U.S. regulation will be welcomed in France, local officials said. "In France, we are proud to be pioneers of the crypto-asset industry," said Benoît de Juvigny, secretary general of the F ...
European Banking Authority Calls for Central Bank Ban on Large Stablecoins
European Banking Authority (EBA) believes that central banks should impose a ban on large steblecoins if they pose a threat to the monetary policy of specific countries. It was stated by the chairman of EBA José Manuel Campa, speaking at a symposium on central banks and dig ...
Hong Kong Regulator Prepares to License Cryptocurrency Exchanges
The Hong Kong Securities and Futures Commission (SFC) said it is preparing rules for licensing cryptocurrency exchanges and will present them next month.</div Bloomberg cited SFC CEO Julia Leung as saying that the new guidelines and regulations will support cryptocurrenc ...
French Financial Markets Authority to Align Crypto Regulations with European Standards
The French Financial Markets Authority has outlined plans to align its existing regulations for licensing and supervising crypto companies with the new MiCA law recently adopted by the European Union. The AMF has announced that it has developed a transition plan following the approval of the draf ...
Dubai Accepts Applications from Cryptocurrency Companies for Operating Licenses
Dubai, one of the seven emirates in the United Arab Emirates, has officially announced that it is now accepting applications from cryptocurrency companies looking to obtain licenses to operate within the region. To do business in the UAE, digital asset firms must be legally registered with the Du ...
Circle Applies for Licenses to Expand Stablecoin Offerings in France
Circle, the issuer of stablecoins, has taken a significant step towards expanding its business in Europe. The Boston-based company has applied for two licenses from French regulators, which, if approved, would allow Circle to offer its products to customers in France. Specifically, Circle has ...
Dutch Financial Regulator Considers EU Crypto Regulations too Soft
According to the Chairman of the Dutch Financial Markets Authority (AFM), Laura van Geest, the European Union Crypto Asset Regulation (MiCA) bill is too lenient for the cryptocurrency industry. Despite the regulations in place for digital assets, the Dutch regulator intends to maintain a strict s ...
California Assemblyman Proposes Licensing for Cryptocurrency Companies to Combat Fraud and Protect Consumers
The California Consumer Federation (CFC), a non-profit advocacy group, supported a bill by a member of the California Assembly to license cryptocurrency companies.. The updated bill was introduced by Timothy Grayson at the end of January. The project establishes a ...