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The SEC is moving to regulate the cryptocurrency market in a way that we do not know!
Anyone following the crypto market is sure to see the significant shift in the direction of the U.S. Securities and Exchange Commission (SEC) towards regulating the digital currency market, as the acting chairman, Mark Uyeda, has ceased to pursue any enforcement actions against cryptocurrency companies unless they are involved in clear fraud.
According to attorney Josh Hesse, the agency is expected to focus under the new U.S. administration on protecting retail investors and reducing fraud, rather than pursuing brokers or punishing companies for technical regulatory shortcomings.
The report mentioned that several prominent cases, such as those against Coinbase, Kraken, and Ripple, are under review and may be dropped or settled.
It is also expected that the controversial “Howey Test” will be replaced with a clearer classification system for cryptocurrencies, which could enhance innovation and provide a more transparent and stable regulatory environment.
On a global level, there are also significant updates in anti-money laundering and counter-terrorism financing guidelines from the Financial Action Task Force (FATF), along with proposed changes in capital requirements from the Dubai Financial Services Authority, which may have varying impacts on brokers and investment firms.
#crypto
#fatf #sec
Anyone following the crypto market is sure to see the significant shift in the direction of the U.S. Securities and Exchange Commission (SEC) towards regulating the digital currency market, as the acting chairman, Mark Uyeda, has ceased to pursue any enforcement actions against cryptocurrency companies unless they are involved in clear fraud.
According to attorney Josh Hesse, the agency is expected to focus under the new U.S. administration on protecting retail investors and reducing fraud, rather than pursuing brokers or punishing companies for technical regulatory shortcomings.
The report mentioned that several prominent cases, such as those against Coinbase, Kraken, and Ripple, are under review and may be dropped or settled.
It is also expected that the controversial “Howey Test” will be replaced with a clearer classification system for cryptocurrencies, which could enhance innovation and provide a more transparent and stable regulatory environment.
On a global level, there are also significant updates in anti-money laundering and counter-terrorism financing guidelines from the Financial Action Task Force (FATF), along with proposed changes in capital requirements from the Dubai Financial Services Authority, which may have varying impacts on brokers and investment firms.
#crypto
#fatf #sec
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Pakistan is About to Establish a National Crypto Council: A New Turning Point for the Market?
The Pakistani government is taking strong steps to legalize and regulate cryptocurrency by planning to establish a National Crypto Council. This could be an important turning point, creating a transparent legal framework and promoting the development of digital assets in the country.
Important Turning Point for Pakistan
According to Dawn newspaper, the government has planned to establish a National Crypto Council after a meeting between Finance Minister Muhammad Aurangzeb and digital asset advisors of U.S. President Donald Trump. This is seen as a sign that Pakistan wants to change its previous stance from a complete ban to a more flexible approach to crypto.
Important Turning Point for Pakistan
According to Dawn newspaper, the government has planned to establish a National Crypto Council after a meeting between Finance Minister Muhammad Aurangzeb and digital asset advisors of U.S. President Donald Trump. This is seen as a sign that Pakistan wants to change its previous stance from a complete ban to a more flexible approach to crypto.
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FATF Travel Rule: New Regulations from the EU Could Endanger Personal Security?
Bitcoin and the FATF Travel Rule
The FATF Travel Rule, initially applied to traditional finance to combat money laundering and terrorist financing, has now expanded to bitcoin transactions. However, this move is controversial as it contradicts the core principles of bitcoin regarding privacy and financial freedom.
#FATF requires virtual asset service providers (VASPs) to collect Know Your Customer (KYC) information and share data with other organizations during transactions. This forces users to provide personal information to third parties, increasing the risk of data breaches or unauthorized tracking.
The FATF Travel Rule, initially applied to traditional finance to combat money laundering and terrorist financing, has now expanded to bitcoin transactions. However, this move is controversial as it contradicts the core principles of bitcoin regarding privacy and financial freedom.
#FATF requires virtual asset service providers (VASPs) to collect Know Your Customer (KYC) information and share data with other organizations during transactions. This forces users to provide personal information to third parties, increasing the risk of data breaches or unauthorized tracking.
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