The UK Financial Conduct Authority requires all businesses to get authorization before making any deals with cryptocurrency derivatives. All actions with cryptocurrency derivatives shall be performed according to the “Markets in Financial Instruments Directive II (MiFID 2), and it is a part of financial reforms that were made in the UK in January this year.
While other countries think whether to accept cryptocurrency or to ban it, the South African Reserve Bank is acting. It is on its way to establish a self-regulatory body which tasks will be to control and manage all issues with cryptocurrency and related transactions. The bank itself doesn’t control cryptocurrency for now, but the increasing
BUDA and Crypto MKT, two major Chilean cryptocurrency exchanges, are seeking clearer cryptocurrency regulation. Their developers and owners came to a conclusion, that a legislation is needed, when they faced some problems with the major banks of the country, when the exchanges accounts were frozen by a number of banks. In their public statement, crypto-exchanges
ESMA, the European Security and Markets Authority, is going to introduce new requirements for financial derivatives in cryptocurrency. Contract for difference, or CFD, is a futures contract, which means, that settlement is made in cash, not with physical goods or services. This is a simpler method, as all differences, gains as well as losses, are
Prasos Oy, a Finnish cryptoexchange and the crypto wallet provider, isn’t going to survive any longer. The most Finnish banks are rejecting to work with it. The cryptoexchange was founded in 2012, but in 2017 the transaction sums increased significantly and reached 185 mln USD. This raised concerns in the banks. The problem is that
The USA and Russia are trying to get the most out of bitcoin and bitcoin trading. From one side, all is just about legislation that shall regulate cryptocurrency in general and cryptocurrency trading in particular. Poor people will not invest in bitcoin, while rich people can share their wealth little bit with the state. Now,
Bitcoin is not suitable for Turkey, or, rather, for Islam, Turkish government claims. As well as other cryptocurrency, by the way. the reason is so simple that it is even surprising: bitcoin is decentralized, the government cannot control it, hence, the cryptocurrency isn’t suitable for the country. When the government representatives were asked why so,
European Union monetary regulator, the ESMA, has turned into the most recent regulatory body to issue a notice about the risks of getting tied up with — and running — ICOs, otherwise known as the crypto coin raising money instrument that has blasted lately to exploit a clear legal hazy area between issuing ‘software presale