Crypto Regulation

Crypto is growing up. Stay on top of crypto, token, and ICO regulation.

[Crypto Regulation @cryptoregulator]

Crypto startup? Don't know where to start with #AML #AntiMoneyLaundering ? This free guide looks useful.

[Regulatory News and Updates @Reg_Alert]

New to the #MLRO or #SMF17 role? Check out our Essential Resources Guide for Money Laundering Reporting Officers https://t.co/2fVPGLavkT #AML #CTF #Compliance

[Crypto Regulation @cryptoregulator]

The UK diverges from the EU position on collecting sender/beneficiary information for unhosted wallets.

[Crypto Regulation @cryptoregulator]

UK amendments to the MLRs including response on the #TravelRule for #Crypto. https://t.co/qNRxrdxTke

[Crypto Regulation @cryptoregulator]

In the EU/UK Tether would have to publish their Core Equity Tier 1 (CET1) instrument balances to prove they are adequately capitalised to withstand liquidity shocks.

[Crypto Regulation @cryptoregulator]

through the Financial Services Compensation Scheme. I think it shouldn’t, and that consumers should have to acknowledge that fact before an adviser helps them to buy crypto.

[Crypto Regulation @cryptoregulator]

"Regulating crypto also means deciding how the FCA will raise the money to pay for the very significant costs of this additional regulation, including the question of whether the financial services industry as a whole should be exposed to the costs of failing crypto firms

[Regulatory News and Updates @Reg_Alert]

Listening up to level up – regulating finance for the whole of the UK https://t.co/LK9mcZsaCL via @Reg_Alert

[Crypto Regulation @cryptoregulator]

There can be no client asset protection regime without Knowing Your Client #KYC #Crypto #BTC.

[CoinDesk @CoinDesk]

SCOOP: The Biden administration will press Congress to include a requirement for crypto exchanges to firewall customer funds from their own corporate funds in case of bankruptcy in any legislation on crypto.

@jesseahamilton reports

https://t.co/2BF9Fw59AD

[Crypto Regulation @cryptoregulator]

Until crypto assets are protected under segregated client asset rules there is no legal protection for assets held on exchanges. #CASS

[Sophia Zaller @sophiamzaller]

New disclosure in today's $COIN (Coinbase) 10-Q: 👀

"In the event of a bankruptcy.....customers could be treated as our general unsecured creditors." 🚩🚩🚩

🚨Get your #Bitcoin off exchanges.🚨

[Crypto Regulation @cryptoregulator]

Page 20 of the linked EBA report has their comments on crypto-asset based lending including #DeFi #yieldfarming.

[Regulatory News and Updates @Reg_Alert]

EBA provides its advice to the EU Commission on non-bank lending https://t.co/4hYwnppwgU via @Reg_Alert

[U.S. Securities and Exchange Commission @SECGov]

Today we announced that we’re bolstering the unit responsible for protecting investors in crypto markets & from cyber-related threats. The newly renamed Crypto Assets & Cyber Unit in the Division of Enforcement will grow to 50 dedicated positions.

[Crypto Regulation @cryptoregulator]

Thread 🧵

[Patrick Hansen @paddi_hansen]

1/ In case you missed it, the EU commission wrote a chapter on DeFi in its "Financial stability & integration review 2022"

It shows that the Commission staff is well aware of how DeFi works, incl. single protocols.

A few selected quotes wrt policy 👇
https://t.co/K2GOpRBTWk

[Crypto Regulation @cryptoregulator]

Compliance with sanction regimes is essential for #crypto service providers but relies on them having the technology in place to know their clients and prevent circumnavigation via tumblers, mixers, and VPNs. #KYC #Russia

[Ben Bartenstein @BenBartenstein]

Scoop: Binance, the world’s largest crypto exchange by trading volume, is set to limit services for Russian nationals following the EU’s latest sanctions https://t.co/vE84PmzU1G

[Crypto Regulation @cryptoregulator]

Thread 🧵 #TFR #Crypto #DeFi #Custody

[Ultimate Wallet @UltimateApp]

Recently the EU has begun the process to regulate web3, targeting transactions (Trf) and ‘unhosted wallets’ (Mica).

We worked with global innovators in the space to help our political leaders manoeuvre uncharted territories in an open letter.

See final tweet to sign.

1/40

[Crypto Regulation @cryptoregulator]

Like it or not, #KYC is an inevitable and necessary part of any asset-transfer system. Also #taxation. Sorry to shatter your illusions if you thought #crypto could somehow avoid them.

[Cointelegraph @Cointelegraph]

Crypto lending firm @CelsiusNetwork won’t give rewards to any US-based accounts unless verified.

“In line with recent regulatory guidance, there will be changes to the way our Earn product will work [...] in the United States”, said CEO @Mashinsky.
https://t.co/CPAi4RjaDY

[Crypto Regulation @cryptoregulator]

A widening split between EU and RoW on #crypto with the EU clearly looking to gold-plate AML/CTF recommendations.

[Patrick Hansen @paddi_hansen]

US vs. EU in a nutshell:

US treasury secretary Janet Yellen -
“New technology has raised the possibility of reduced reliance on centralized intermediaries”

ECB president Christine Lagarde -
"Cryptocurrencies are highly speculative and suspicious"

[Crypto Regulation @cryptoregulator]

Proposal for a REGULATION OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL on information accompanying transfers of funds and certain #crypto-assets (recast). COM/2021/422 final can be found here https://t.co/Qhh9chDAfO #TFR

[Crypto Regulation @cryptoregulator]

For those unfamiliar with the TFR @Ledger (obviously not neutral on this issue) have written a description in this blog post: https://t.co/qvbmW9YElt

[Crypto Regulation @cryptoregulator]

For those unfamiliar with the TFR @Ledger (obviously not neutral on this issue) have written a description in this blog post: https://t.co/qvbmW9YElt

[Patrick Hansen @paddi_hansen]

1/4 Small correction regarding the TFR 🇪🇺

The first trilogue meeting will be held on April 28.
The second one on June 7.

The EU's goal is to reach a final agreement by the end of June.

[Peter Grosskopf @peterlih]

1/ The next relevant regulation for cryptoland is coming up where the community needs to involve 🚨: OECD is promoting the „Crypto-Asset Reporting Framework and Amendments to the Common Reporting Standard“ https://t.co/tjJSfvgTta

What is it about? Read here👇

[Stephen Diehl @smdiehl]

Even if you're the most strident defender of capitalism. A market in which 95% of transactions are non-economic wash trading is not capitalism. This is just people playing rip-off games on some simulacrum of markets and farming greater fools using Super Bowl ads.

[Patrick Hansen @paddi_hansen]

1/ The vote on crypto AML rules in the EU Parliament didn't turn out as we would have wished, BUT

1. We can still achieve changes in the trilogue - start ~ April 20/21
2. We have witnessed an unseen level of political mobilization for crypto in the EU

Quick shout-out thread👇