The European Union has approved a set of rules—the first such regulation in the world—to regulate crypto assets like cryptocurrencies and tokens in a bid to curb money laundering activities and protect investors. The markets in crypto-assets (MiCA) legislation was approved on May 16 by EU ministers. The new rules will increase transparency and create…
SEC Warns Against Including Crypto Assets in Retirement Accounts
February 9, 2023
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The U.S. Securities and Exchange Commission (SEC) has warned Americans over the risk of including assets like cryptocurrencies in their self-directed individual retirement accounts (IRAs) as well as unregulated trading platforms posing as exchanges. Some self-directed IRAs offer investment in crypto assets like tokens, coins, and virtual currencies. Such assets “may be securities that are…
Charlie Munger Blasts Crypto as ‘Partly Fraud and Partly Delusion’ After FTX Meltdown
November 16, 2022
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Charlie Munger, vice chairman of Berkshire Hathaway, has issued scathing comments on the crypto industry after one of the globally leading exchanges FTX collapsed last week. “It’s partly fraud and partly delusion,” Munger said on CNBC Tuesday. “That’s a bad combination. I don’t like either fraud or delusion. And the delusion may be more extreme than…
Binance Bans, Then Restarts FTT Deposits, as Congressman Calls for Crypto Regulation
November 14, 2022
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Cryptocurrency exchange Binance is once more allowing deposits to be made in FTT tokens that are issued by rival exchange FTX, hours after prohibiting the activity. In a tweet on Nov. 13, Binance said that it had noticed “suspicious movement” of a large amount of FTT by the token’s contract deployers due to which it paused FTT…
Biden White House Issues Framework for Regulating Digital Assets
September 16, 2022
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The Biden administration has released its first-ever comprehensive framework aimed at regulating digital assets like cryptocurrencies, including cracking down on fraud and fostering financial stability. In March, President Joe Biden issued an executive order seeking to ensure the responsible development of digital assets. Since then, multiple government agencies have been framing policies aimed at pushing…
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