The Currency Analytics
By Steven Anderson
Dmitry Medvedev, the Prime Minister of Russia, stated that cryptocurrency regulations are not a priority for now for Russian people.
“The popularity of cryptocurrencies has decreased so far, which likely makes the regulation issue not that relevant already.”
This statement comes at a point in time when the cryptocurrency market is seeing a Bull Market.
Consob, a supervisory authority in Italy, which plays a significant role in protecting its customers and investors from being over-exploited by bad actors, has proposed,…
The proposed documents consist of a definition of cryptocurrency; however, it does not match with virtual currencies like Bitcoin.
Consob in association with other authorities like Bank of Italy is pushing for the regulation of Bitcoin, cryptocurrency, distributed ledger technology, blockchain, etc.
Finland has already begun regulating crypto providers. The president of Finland has approved a law to regulate the cryptocurrency service, which included regulating…
“The Act on Virtual Currency Providers enters into force on 1 May. In accordance with the act, the Financial Supervisory Authority (Fin-FSA) will act as the registration…
The Finnish Financial Watchdog stated, “Going forward, only virtual currency providers meeting statutory requirements can carry on their activities in Finland.
Fin-FSA stated that the current requirements on the crypto are based on the May 2018 amendments to the EU anti-money laundering directive.
On registering with the Fin-FSA, the service provider will not be able to operate in another EU country as every member state have their law, which should be followed.
Brazilians like their cryptocurrency. The Brazilian government has passed new rules, which will come in to force from August 1.
This regulation is meant to combat tax evasion, and it is also focused on avoiding crimes like money laundering.