Crypto commerce in Ireland is about to become a lot more regulated, with lawmakers in the country ready to introduce
Cryptocurrency regulations have been a hot topic of debate among the community ever since digital assets came into existence.
The debate circles whether legislation on cryptocurrencies will carry positive or negative outcomes for the crypto ecosystem.
Some believe that cryptocurrencies such as Bitcoin should operate on their own, without any regulatory oversight. This comes from one of their predominant and perhaps most essential features – decentralization, or the lack of central authorities. This would put the power entirely in the hands of network participants.
However, and on the other hand, there are a lot who believe that proper and well-defined regulations are a critical step towards mass adoption.
In reality, the tendency seems to be favoring the latter group. The well-known and reputable cryptocurrency companies and exchanges are doing their best to abide by the law in order to deliver further security and to avoid regulatory scrutiny.
This is especially the case in the fields of Know-Your-Customer (KYC) and Anti Money-Laundering (AML) regulations. These are welcomed with mixed feelings by the crypto community because they strip away one of the landmark feats of most cryptocurrencies – privacy.
Recent Regulations News
The New York State Department of Financial Service has licensed eight cryptocurrencies for sale and trading and ten for custody.
German financial regulator has targeted Bitcoin ATMs in the country that have been operating illegally.
Top Japanese financial bureaucrat Ryozo Himino thinks that promoting cryptocurrency trading will not necessarily accelerate technological innovation. Rather it will
Bitcoin is regarded as money covered under the District of Columbia’s Money Transmitter Act, according to a US federal court.
National banks and federal saving associations can now offer crypto custody services to customers following approval from regulators in the
Yesterday, in an online discussion with India’s leading cryptocurrency industry players, the country’s former Finance Secretary, Mr. Subhash Chandra, said
Regulations on how cryptocurrency exchanges should report their client data to the IRS are still in preparation, as the US
Two US regulators, the Securities and Exchange Commission and the Commodities Futures Trading Commission, fined well-known cryptocurrency platform Abra for