Search Results for: Commission

United States CFTC Issues Advisory on Digital Currencies for Futures Commission Merchants

The Division of Swap Dealer and Intermediary Oversight (DSIO) of the Commodity Futures Trading Commission (CFTC) has released an advisory to futures commission merchants (FCMs) clarifying how to hold digital currencies in segregated accounts. Segregated accounts are customer funds that are held in separate accounts from a company’s own funds. The clients’ funds are held in … Continue reading United States CFTC Issues Advisory on Digital Currencies for Futures Commission Merchants

Concerns Arise as North Korea’s Financial Services Commission Unsure of Its Cryptocurrency Mandate

The Financial Services Commission of North Korea has come under the spotlight. The agency, which is supposed to be in charge of the supervision of cryptocurrencies, recently asked which ministry is responsible for dealing with challenges associated with the theft of cryptocurrencies in the country. Lawmaker Seong II-Jong, the opposition party secretary of the National … Continue reading Concerns Arise as North Korea’s Financial Services Commission Unsure of Its Cryptocurrency Mandate

South Korea’s Financial Services Commission to Ban Privacy Coins from Exchanges

South Korea’s Financial Services Commission (FSC) will ban privacy-centric digital assets or “dark coins” from crypto exchanges as they present a high money laundering risk. Virtual asset providers in South Korea will no longer be authorized to handle privacy coin transactions according to a Nov.3 announcement from the FSC. According to the announcement, the updates … Continue reading South Korea’s Financial Services Commission to Ban Privacy Coins from Exchanges

SEC Chair Jay Clayton to Leave the Commission by Year End—Implications for the Future of Crypto

The current Chairman of the United States Securities and Exchange Commission (SEC) Jay Clayton is set to leave the commission after a three and a half year tenure. As contained in the official release by the commission, Clayton ranks as one of the longest-serving Chairmen of the SEC and his departure comes following his promotion … Continue reading SEC Chair Jay Clayton to Leave the Commission by Year End—Implications for the Future of Crypto

Former SEC Commissioner Says Incoming SEC Chair Gary Gensler Could Withdraw Lawsuit against Ripple

Gary Gensler, who has been tapped by President Joe Biden to lead the Securities and Exchange Commission (SEC) as chairman, is awaiting the Senate floor’s final vote. The Senate Banking Committee has voted 14-10 in favour of sending Gensler’s nomination to the Senate floor for confirmation. Although an exact date for the Senate floor’s final … Continue reading Former SEC Commissioner Says Incoming SEC Chair Gary Gensler Could Withdraw Lawsuit against Ripple

SEC Commissioner & ‘Crypto Mom’ Hester Peirce Suggests Plan to Determine Whether an Asset is a Security

“Crypto Mom” Hester Peirce is not the biggest fan of using the Howey Test to determine whether crypto assets are securities. The Howey Test was birthed around 1946 and is frequently used to this day by the Securities and Exchange Commission and the court to determine whether an asset is a security. Its origins stem … Continue reading SEC Commissioner & ‘Crypto Mom’ Hester Peirce Suggests Plan to Determine Whether an Asset is a Security

SEC Commissioner Hester Peirce Proposes Revised Crypto Safe Harbor Policies

Hester Peirce, the acting commissioner for the US Securities and Exchange Commission (SEC), has long been known to be cryptocurrency-friendly. Peirce now released an amended proposal floating the idea of a safe harbor rule for cryptocurrency projects. Peirce, also known as the ‘Crypto Mom’ for her active role in seeking to further blockchain and crypto … Continue reading SEC Commissioner Hester Peirce Proposes Revised Crypto Safe Harbor Policies

Korea's Financial Services Commission Officials Mandated to Declare their Crypto Holdings

A lot of restructuring may be happening at the South Korean Financial Services Commission (FSC). Staff members were given a May 7 deadline to file a report detailing their cryptocurrency investments, as mandated by FSC Chairman Eun Sung-soo. Per the Korea Times news outlet, the report was made obligatory after concerns that some members of … Continue reading Korea's Financial Services Commission Officials Mandated to Declare their Crypto Holdings

European Commission Moves to Tighten Rules on Cryptocurrency Transfers

EU policymakers have proposed changes to EU rules to compel firms that transfer Bitcoin and other cryptocurrencies to collect details of the sender and the recipient. The European Commission made such an announcement on Tuesday, July 20. The proposal would make cryptocurrencies more traceable, which would assist in preventing terrorism financing and money laundering. The European … Continue reading European Commission Moves to Tighten Rules on Cryptocurrency Transfers

Zero-commission Trading Platform Robinhood is Valued at $32B amid IPO Prices at $38 per Share

The popular stock and cryptocurrency platform Robinhood’s initial public offering (IPO) is valued at $38 per share at the low end of the previously estimated price range of $38-$42, with the company’s market value up to $32 billion. According to a CNBC report Wednesday, Robinhood will publicly issue under the code of “HOOD” on Nasdaq in … Continue reading Zero-commission Trading Platform Robinhood is Valued at $32B amid IPO Prices at $38 per Share

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