Dubai Takes Enforcement Action Against Middle East Crypto Exchange BitOasis
Dubai has been widely considered as a crypto-friendly destination but that hasn’t stopped local regulators from taking action against companies
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.
Dubai has been widely considered as a crypto-friendly destination but that hasn’t stopped local regulators from taking action against companies
Crypto exchanges in South Africa could face enforcement action they fail to obtain a license with the country's financial regulator
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The legislation needs to pass "Consideration of Amendments" and "Royal Assent" before going live.
Hong Kong is wasting no time since it opened its doors to the crypto industry last month. A recent proposal
Despite the ban, crypto users are skeptical about Belarus' ability to enforce it.
The MAS will also supposedly prohibit domestic cryptocurrency organizations from offering staking and lending services to retail investors.
Britain has taken another step towards having a fully regulated crypto framework with the royal approval of the Financial Services
Canadian House members want the government to protect citizens’ right to self custody, and recognize stablecoins as distinct from other
According to Circle's CEO, Asia is a huge area of focus.