Dubai Financial Services Authority Proposes New Rules to Strengthen Crypto Regulation
The Dubai Financial Services Authority (FSA), responsible for overseeing crypto regulation, said it has begun work on new rules to combat fraud, money laundering and terrorist financing. The agency assured that the Dubai FSA's updated principles will meet the regulatory r ...
European Central Bank Supports Research on Central Bank Digital Currency (CBDC)
European Central Bank (ECB) governor Fabio Panetta commented on the growing need, benefits and security of central bank digital currency (CBDC). European Central Bank (ECB) board member Fabio Panetta said the European regulator fully supports research into the digital e ...
Court Postpones First Hearing in Tornado Cash Developer’s Case in the Netherlands
The court in the Netherlands postponed the first hearing in the case of Tornado Cash cryptomixer protocol developer Alexei Pertsev until 2024. The decision was handed down on Wednesday, May 24, in Den Bosch. The local court explained that all hearing slots until the en ...
Pakistan Suspends Cryptocurrency Services, Declares Permanent Ban
The Pakistani government has announced a decision to suspend all types of cryptocurrency services available in the country. Finance and Revenue Minister Aisha Ghaus Pasha, in a speech to members of parliament, said cryptocurrency "will never be legalized in Pakistan." ...
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 ...
US Lawmakers Introduce Bill to Combat Terrorist Financing via Cryptocurrencies and Fintech
U.S. lawmakers have introduced a bipartisan bill in the Senate against terrorist financing through cryptocurrencies and financial technology. The bill included Iowa Republican Zach Nunn, Connecticut Democrat Jim Himes, Senator Kirsten Gillibrand, and North Carolina Represen ...
Japanese Regulator Warns Cryptocurrency Exchanges About Legal Compliance
The Japan Financial Services Agency (FSA) recently issued a warning to four foreign cryptocurrency exchanges - Bybit, BitForex, MEXC Global, and Bitget - stating that they need to ensure legal compliance in the country. The FSA noted that these exchanges may be violating Japanese laws, although t ...
Pakistan Banking Association and Avanza Group collaborate on eKYC blockchain platform
The PBA and Avanza Group have collaborated to establish a groundbreaking blockchain-based eKYC banking data exchange platform. Under the guidance of the State Bank of Pakistan, the PBA will oversee the project, with the ultimate goal of enhancing anti-money laundering and terrorist financing meas ...