The Trojan Horse of crypto regulation

Every once in a while, the crypto community crowns a new king for secure transactions, and the latest king seems to be multiparty computation, or MPC. This year, MPC adoption by custodial and noncustodial players has progressed and gained market traction at a rapid pace. However, it could come at a price. MPC providers offer regulators a backdoor into cryptocurrency transactions. As the industry becomes more reliant on MPC for security, it could end up compromising on the long-held principles of decentralization and censorship-resistance. The hidden features of MPC In…

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Pakistan’s SEC Discusses Cryptocurrency Regulation, Central Bank Confirms No Crypto Ban

The Securities and Exchange Commission of Pakistan has published a paper discussing cryptocurrency regulation in the country. Meanwhile, the central bank has reportedly confirmed that there is no cryptocurrency ban. Pakistan’s Crypto Regulation in the Works The Securities and Exchange Commission of Pakistan (SECP) has published a position paper on the regulation of cryptocurrency trading platforms. Besides discussing definitions and concepts of cryptocurrencies, the paper outlines different regulatory approaches adopted globally, including the recommendations by the Financial Action Task Force (FATF), and regulations in Malaysia, Hong Kong, and the U.S.…

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OCC’s Brian Brooks Against Government Issued Digital Dollar – Supports Regulation of Privately Issued Stablecoins

The acting director of the U.S. Office Comptroller of Currency (OCC) Brian Brooks says the creation of the U.S. digital dollar is a terrible one because the government is not good at building things. Instead, Brooks believes tech companies, which already possess the know-how, to be in a better position to issue stable digital currencies. He says the U.S. government needs to focus on doing what it does best-regulation. Growing Stablecoin Supply The acting comptroller of currency’s comments come as reports suggest the US is currently working on a digital…

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Regulation, Uniswap controversy and how many use crypto worldwide

Coming every Sunday, Hodler’s Digest tracks every important crypto news story from the previous week. Essential reading for all Hodlers!   Top Stories This Week   European Commission unveils digital finance package for crypto and blockchain The days of murky legal waters and uncertainty for the crypto industry could be coming to an end if the European Commission is to be believed. A new digital finance package has been unveiled that proposes new legislation on crypto assets in Europe, including “stringent requirements” on companies that issue stablecoins with a circulating…

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Crypto adoption has no future without regulation and law enforcement

The basis of any exchange of value is trust. The more two parties trust each other, the more they will feel confident engaging in transactions. Not just engaging in a high volume of transactions, but higher value transactions, too. Bitcoin (BTC) and other cryptocurrencies are certainly accomplishing a lot when it comes to creating a decentralized environment where the ability to trust another party is taken out of the equation by a blockchain. Hardcore enthusiasts who already understand this are the ones most willing to reach into their coffers and…

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EU to Launch Comprehensive Crypto Regulation by 2024: Report

The European Union is planning to implement comprehensive cryptocurrency regulation by 2024, two EU reports have reportedly revealed. This follows five European finance ministers calling on the European Commission to put in place “very strong and very clear rules” on cryptocurrency. EU Crypto Regulation Coming Soon A comprehensive cryptocurrency regulatory framework is expected to be put in place within four years, according to two EU documents, Reuters reported Friday, elaborating: By 2024, the EU should put in place a comprehensive framework enabling the uptake of distributed ledger technology (DLT) and…

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European Union Seeks Strict Regulation of Crypto and Stablecoins in New Draft Law

The European Commission, the executive arm of the E.U., has drawn up regulation to tightly monitor cryptocurrencies it considers “significant”, including asset-backed stablecoins like Facebook’s libra. Euractiv, a European news outlet, first reported the news on Sept.10, citing a leaked 167-page draft crypto proposal. According to the report, the regulation will seek to tackle bitcoin’s high volatility as well as “risks posed by systemic ones, like libra” by creating a “new college of supervisors” involving existing national and continental regulatory agencies – and one new additional body – all chaired…

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ETC Labs believes regulation is the key to preventing future 51% attacks

Responding to numerous 51% attacks on the Ethereum Classic blockchain, ETC Labs said that it’s time to bring regulation to hashpower rental marketplaces, citing the fact that at least two of the attacks were perpetrated by renting hash power through NiceHash — a claim that has been confirmed by both NiceHash and ETC Labs.  ETC Labs CEO Terry Culver also shared with Cointelegraph that according to the information that was provided by CipherTrace, which was hired to investigate the attacks, the attackers used proceeds from the first attack to rent hashpower…

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Huobi’s COO Thinks Blockchain Regulation Needs to be Better Defined

Robin Zhu, Huobi Global Group’s COO, told Cointelegraph at a China Great Bay Area International Blockchain Week pre-event interview on August 3 that lack of defined regulations and infrastructure services are preventing the mass adoption of blockchain and crypto. Defined regulation and mass adoption  Zhu explained that, in addition to concerns about hacking, users are put off by the lack of defined regulations, infrastructure services, and user-friendly asset management systems. He continued that:  “Security has always been on the top of the list. Lack of defined regulations and infrastructure services…

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Romania Is on the Way to Blockchain and Crypto Regulation

The European Union and the European Central Bank wanted to create a unitary legal framework that would limit the anonymity of cryptocurrency transactions, especially in the spectrum of money laundering, terrorist financing and tax evasion. The simplest method of control and probably the only one possible in the case of digital currency transactions is by checking the route of fiat currencies. Any purchase of digital currency with fiat money and vice versa is monitored through exchange providers. As there is no legal framework in the EU to provide a definition…

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