Regulatory

Regulatory (39)

NY Looking at Rules to Make Using Cryptocurrency Easier

The New York State Department of Financial Services is exploring new rules that could make it easier to use cryptocurrency in the state. So reports The New York Post.

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Rulemakers Look to Tech, Cooperation to Tighten Operations

The Financial Industry Regulation Authority (FINRA) approved a plan to improve its enforcement technology platform during a two-day Board of Governor’s meeting earlier this month. According to FINRA, the board approved a new, three-year Enforcement Digital Transformation initiative aimed at improving workflow efficiency and cutting costs.

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Acting Comptroller of the Currency Making Waves with Fintech, Banking Policy

Newly minted Acting Comptroller of the Currency Brian Brooks is pushing for new charters specifically catering to payment companies and other fintechs as well as new rules governing fintech-bank relationships. So reports Bloomberg Law.

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French, NY Regulators Team up to Speed Fintechs to Market

French and American regulators have agreed to work toward making it easier for fintech innovators to crack their respective markets. So reports Coindesk.

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CFPB Gives Green Light On 'No-action' Templates to Bolster Innovation

The Consumer Financial Protection Bureau (CFPB) issued two separate “No-Action Letter Templates” with the hope of sparking innovation at a time when homeowners and consumers are struggling with the prolonged financial fallout of the COVID-19 health crisis. The letters are designed to provide regulatory clarity to relevant entities by providing assurances the CFPB will not take action against them, under a certain set of circumstances, for providing a particular service or product.

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FSB Takes Hard Stance On 'Stablecoins'

The Financial Stability Board is calling for a “unified global approach” to supervising fiat-pegged cryptocurrencies, or if that’s not possible, a potential ban on those so-called “stablecoins.” So reports CryptoBriefing.

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Under Self-quarantine, Arizona Rep. Introduces Cryptocurrency Bill

Rep. Paul Gosar introduced “the Crypto-Currency Act of 2020” while under self-quarantine after reportedly being exposed to the coronavirus. So reports Bitcoin News.

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Crypto Causing a Tax 'Nightmare,' Expert Tells Congress

Cryptocurrency is causing a tax “nightmare,” said an expert testifying before Congress during the recent “Building Blocks of Change: The Benefits of Blockchain Technology for Small Businesses,” meeting. So reports Cointelegraph.

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Ohio Man Indicted for Role in Alleged Dark Web, Bitcoin Laundering Scheme

Larry Dean Harmon, of Ohio, was arrested and indicted by a federal grand jury for his alleged role in a conspiracy to “launder monetary instruments,” among other crimes. So reports Cincinatti.com.

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Crypto Hard Forks and Holdings: What is the IRS is Up To?

For the first time since 2014, the Internal Revenue Service (IRS) has issued new guidance on virtual currency transactions. To that end, its FAQ on virtual currency transactions was updated as taxpayers begin preparing to file ahead of April’s deadline.

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