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Governments worldwide are changing the way they regulate crypto assets to comply with the global cryptocurrency standards set by the Financial Action Task Force (FATF). Some are amending existing laws, while others are creating a new system to cooperate and share data. Also read: China Publishes Ne..
G7 finance chiefs met this week and Facebook’s Libra cryptocurrency was high on their agenda. They agreed on several crypto initiatives and fast regulatory responses to projects such as Libra, calling for them to meet the highest standards of financial regulation. Also read: G20 Leaders Issue Decla..
News France is poised to approve initial coin offerings (ICO) operators and other crypto businesses with its new regulatory approach to the sector. ‘France is a Precursor’As Reuters reported on July 16, the new rules — expected to take effect later this month — will enable crypto-related business..
Facebook’s digital currency plans have caused concern among bureaucrats worldwide and members of the U.S. government seem fearful of a giant tech establishing itself as a financial institution. Prior to the U.S. congressional hearings and the upcoming G7 finance meeting, a U.S. discussion draft bill..
A growing number of governments have responded to Facebook’s cryptocurrency plans including China, France, India, Japan, South Korea, Russia, Singapore, Thailand, the U.K., and the U.S. Several intergovernmental organizations have also weighed in such as the European Central Bank and the Bank of Int..