Loading
Welcome at World Crypto Global. This portal is packed with useful content and resources to built out your own crypto skills. WorldCrypto is a site member of Gabriel Vega Network.
The international watchdog confirmed that it is now working on recommendations for stablecoins and other crypto asset activities.
The post Financial Stability Board Preparing ‘High-Level’ Recommendations on Regulation of Crypto appeared first on BitPinas.
India’s finance ministry has announced that crypto transactions will be covered under the Prevention of Money Laundering Act, 2002 (PMLA). Noting that the move “is a positive step in recognizing the sector,” a crypto insider explained that it will strengthen the industry’s efforts to prevent virtual digital assets “from being misused by bad actors.” India [...]
The post India Brings Crypto Transactions Under Prevention of Money Laundering Act appeared first on Crypto Breaking News.
G20 countries have announced that the Financial Stability Board, the International Monetary Fund, and the Bank for International Settlements will release recommendations on global crypto regulation by July. (Read More)
The Financial Stability Board, IMF, and BIS will propose worldwide crypto regulations. (Read More)
US Treasury Secretary Janet Yellen underlined the need for effective cryptocurrency regulation. (Read More)
G20 members reviewed technological advancements and dangers during the FMCBG conference on Feb. 24–25. (Read More)
India's finance minister called for a coordinated effort “for building and understanding of the macro-financial implications,” which could be used to build global crypto reforms.
Cryptocurrencies are being considered for collective regulation by the Group of 20 (G20) nations, according to India’s Finance Minister Nirmala Sitharaman. India is this year’s G20 president and will host the finance ministers and central bank governors of the G20 group this month. This follows on from comments by India’s finance minister, Nirmala Sitharaman, who […]
G20 countries have started planning a global crypto policy, Germany is vocally supporting worldwide regulation.
Last G20 summit under the Indonesian presidency begins today, which could see India leading the charge for strict crypto regulations.
Nirmala Sitharaman's comments came amid the Reserve Bank of India launching its digital rupee pilot program for the wholesale segment.
The Finance minister stated that India would prioritize crypto regulation during the upcoming G-20 meeting.
Continue reading India Seeks to Devise Global Standards for Cryptocurrencies at DailyCoin.com.
For the upcoming G20 finance ministers' meetings, leaders are going to discuss the CARF framework that builds on certain enhancements to the Common Reporting Standard (CRS). (Read More)
With an expanded Australian offering, Coinbase’s VP of international and business development said the exchange faced “tough questions” from regulators and policymakers about its services.
The FSB, a G20-backed think tank, has cited the duo of government-issued CBDCs and stablecoins as key drivers in the pursuit of better cross-border payments. (Read More)
Intergovernmental forum, Group of Twenty (G20) welcomes the call made by the Financial Stability Board (FSB) for tougher rules to guide the global cryptocurrency industry, Nirmala Sitharaman, Finance Minister of India, said during a press conference held today (Tuesday) in India. India currently holds the G20 presidency,
Where Will G20 Stand on Crypto?
On Monday, FSB, whose member comprises the United States, the European Union, China and the UK, issued a regulatory framework to guide crypto-asset activities in the wake of the collapse of crypto exchange FTX and digital asset lender Celsius in 2022. The framework includes enhancements targeted at ensuring adequate protection of client assets, addressing the risks associated with conflicts of interest, and strengthening cross-border cooperations.
The recommendations focus on mitigating financial stability risks and do not exhaustively cover all specific risk categories related to crypto-asset activities, Finance Magnatesreported. Central bank digital currencies, viewed as digitalized central bank liabilities, are also not subject to these recommendations.
However, speaking on the recommendations, Sitharaman noted that the G20 during its third Finance Ministers and Central Bank Governors Meeting held on Tuesday in Gujarat, India, deliberated on the regulatory challenges posed by the crypto asset ecosystem.
“Members welcomed the high-level recommendations of the FSB on crypto asset activities and also the global stablecoin arrangement,” Sitharaman said during the press briefing held after the meeting.
The Indian Finance Minister pointed out that members of the forum discussed the country’s G20 presidency note on cryptocurrency, without specifying what was discussed.
“Members also discussed the presidency note that India has prepared and noted that it will be an important input toward prioritising areas of work essential for achieving a comprehensive, cohesive, and coordinated global policy and regulatory frameworks,” Sitharaman added.
Different Worldview
The G20’s positive gesture to the recommendations made by the FSB comes as the Bank for International Settlements (BIS) earlier urged the group to dismiss digital assets, noting that they have ‘inherent structural flaws’. The BIS, which is a group comprising the world's major central banks, added that there is a lack of accountability in the cryptocurrency ecosystem.
Meanwhile, recent developments across the crypto industry show that major stakeholders across the global financial market see digital asset regulation in a different light. While the European Union recently passed the Markets in Crypto-Asset (MiCA) regulation, becoming the first major jurisdiction to introduce a comprehensive law to regulate the crypto industry, the US federal securities regulator in recent months stepped up its campaign against ‘unregistered’ crypto exchanges, seeking their compliance with decades-old securities law through the court.
On the other hand, the UK recently sanctioned a new law that empowers public authorities to regulate digital assets and supervise crypto promotions. The new regulation is part of the country’s plan to turn the country into a crypto hub.
Similarly, in Asia, Hong Kong recently rolled out new rules for its crypto industry and has already captured the attention of 80 local and foreign digital assets firms. Singapore, another country in the region, has also stated interest in becoming a global crypto hub.
Binance and CS to cut staff; big banks partner on FX trading; read our latest news nuggets.
This article was written by Solomon Oladipupo at www.financemagnates.com.
Fireblocks, a digital assets security company, has disclosed vulnerabilities affecting several cryptocurrency wallets, collectively named “Bitforge.” Through these vulnerabilities, criminals could steal millions in cryptocurrency without having direct contact with the owners of the wallet or its providers. While some providers have already applied patches, others are still vulnerable. Bitforge Vulnerabilities Disclosed Fireblocks, a cryptocurrency [...]
The post Fireblocks Discloses Bitforge Vulnerabilities Affecting Dozens of Wallet Providers appeared first on Crypto Breaking News.
India’s finance minister, Nirmala Sitharaman, said during her official visit to the U.S. that crypto regulation is a very important part of the discussion by the G20 countries given “so many collapses and shocks in cryptocurrencies.” She stressed: “We seek to develop a common framework for all countries to deal with this matter.” India Seeks
The post India Seeks Common Crypto Framework for All Countries to Deal With ‘Many Collapses and Shocks in Cryptocurrencies’ appeared first on BTC Ethereum Crypto Currency Blog.
G20 finance ministers and central bank governors are meeting this month, and the Bank for International Settlements has findings to present.
In a recent announcement, the G20 revealed its efforts to address the potential hazards linked to cryptocurrency investments. The intergovernmental forum, comprising 19 countries and the European Union, has taken the initiative to establish a unified framework that all nations can adopt to tackle this issue. The plan is to develop this framework under the […]
World Crypto Global opens the door to digital freedom for everyone.
Manage your free WCG Coins securely—where simplicity meets global accessibility.
FREE CRYPTO COINS
AVAILABLE FOR RESERVATION
ALREADY ALLOCATED
No fees. No catch. Your crypto journey starts here.
World Crypto Global
