Discover and read the best of Twitter Threads about #cryptoregulations
Most recents (7)
0/n #GryphsisAcademyWeeklyCryptoDigest When Regulatory Actions Shake Markets (2023.06.05–2023.06.11)
medium.com/@gryphsisacade…
medium.com/@gryphsisacade…
1/n Contents - 1
1) Macro Overview:US Stock V.S. Crypto
2) Big Story: @SECGov sues @binance and @coinbase ; June 9 Market Crash
3) Protocol Spotlight: @fraxfinance
4) Narrative Pick(Trading Tool): Unibot, the Telegram Uniswap Sniper Bot
5) VC Funding Highlight
1) Macro Overview:US Stock V.S. Crypto
2) Big Story: @SECGov sues @binance and @coinbase ; June 9 Market Crash
3) Protocol Spotlight: @fraxfinance
4) Narrative Pick(Trading Tool): Unibot, the Telegram Uniswap Sniper Bot
5) VC Funding Highlight
2/n Contents - 2
6) Alpha Threads: @ChadCaff’s analysis of $GMD;
@defi_mochi’s tutorial on whale hunting;
@louround’s research on Spin;
@rekwang’s insights on Radiant;
@VitalikButerin’s take on Ethereum’s technical transitions
7) Upcoming Events: Crypto; Macro
6) Alpha Threads: @ChadCaff’s analysis of $GMD;
@defi_mochi’s tutorial on whale hunting;
@louround’s research on Spin;
@rekwang’s insights on Radiant;
@VitalikButerin’s take on Ethereum’s technical transitions
7) Upcoming Events: Crypto; Macro
1/10: This threads critically highlight a few points on the #UK #FCA Proposal on #Cryptoasset Financial Promotions Rule that seeks feedback on how they approach & how firms comply with their requirement of fairness, clarity and not misleading. #CryptoRegulations
2/10: The FCA has introduced new regulations for marketing cryptoassets to #UK consumers. This move requires firms, including those based overseas, to comply with the regime and review the statutory instrument alongside the Policy Statement (PS). #CryptoRegulations
3/10: Firms planning to market to UK consumers must carefully consider the four available routes for lawfully communicating promotions and ensure compliance with the relevant requirements. Seeking professional advice is crucial during this preparation phase. #ComplianceMatters
Short summary of the Cake DeFi Twitter Space on 6 June: 1/11 📢 In a recent @cakedefi space, @julianhosp & @andreattafab discussed the current state of the #cryptocurrency industry. Key focus: the SEC's lawsuit against Binance and its impact on the crypto community. #CryptoNews
2/11 Notably, they shed light on the difference in allegations against #Coinbase and #Binance, suggesting the latter's case might be more severe. Discussion ensued about potential regulatory actions of the US government. #CryptoRegulations
3/11 The hosts also dove into the lawsuit implications for coins like ADA, SOL, and BNB. Despite some fear in the community, they reminded listeners that being classified as a security doesn't spell the end for a coin. #CryptoInvesting
1/ UK Treasury's A. Griffith 🇬🇧 tells @CNBC UK's #cryptore gulations are coming soon. ⏳🔒
He reminded that post-#Brexit, UK controls rulebook 📖✊, aiming for agility & balance. ⚖️
He reminded that post-#Brexit, UK controls rulebook 📖✊, aiming for agility & balance. ⚖️
@CNBC 2/ In Feb, the #UK gov outlined proposed crypto rules 📃 for the turbulent industry. 💨📉
One of its key proposals was to get FCA-registered firms 🏦 to apply for a new FSMA-based regime. 🔐🔧
One of its key proposals was to get FCA-registered firms 🏦 to apply for a new FSMA-based regime. 🔐🔧
@CNBC 3/ Compared to the #UK 🇬🇧, the US 🇺🇸 has adopted a heavy-handed 🥊💪 approach to #cryptocurrency.
This raises Q: will UK's balance encourage innovation & adoption, or will the US's strictness prevail? 🤔
What do you think? Comment below 👇
This raises Q: will UK's balance encourage innovation & adoption, or will the US's strictness prevail? 🤔
What do you think? Comment below 👇
1/ Hong Kong 🇭🇰 has some of the world's strictest AML/CFT laws as far as the traditional financial industry is concerned.
Being one of the most important financial centers globally, it makes sense.
Now 👉 introducing crypto AML/CFT laws.
Will it change the crypto biz in HK?
Being one of the most important financial centers globally, it makes sense.
Now 👉 introducing crypto AML/CFT laws.
Will it change the crypto biz in HK?
2/ Hong Kong's legislative council has added crypto to its AML/CFT bill 📜
It includes the #TravelRule as well as the general #crypto AML/CFT updates.
A new licensing regime will come into force on 1st June next year 🗓️
It includes the #TravelRule as well as the general #crypto AML/CFT updates.
A new licensing regime will come into force on 1st June next year 🗓️
3/ Under the newly amended AML/CFT law, VASPs will be subjected to the same stringent standards that apply to traditional financial firms in HK.
How that affects the user experience and privacy?
How that affects the user experience and privacy?
1/ With 2022 almost at its end, now is a good time to know about crypto regulations worldwide, starting with Asia.
And it goes without saying Asia is a major player in the global #crypto market 🌏
After all, Asia accounts for 43% of global crypto activity. 📈
And it goes without saying Asia is a major player in the global #crypto market 🌏
After all, Asia accounts for 43% of global crypto activity. 📈
2/ However, the regulatory landscape for #crypto in Asia is complex and varied, with different approaches taken by different countries.
For example, Japan 🇯🇵 and South Korea 🇰🇷 have heavily regulated the crypto industry and even legally recognize them.
For example, Japan 🇯🇵 and South Korea 🇰🇷 have heavily regulated the crypto industry and even legally recognize them.
3/ In contrast, some other countries in the region, such as China 🇨🇳 & Bangladesh 🇧🇩, have taken a stricter stance, banning cryptocurrencies altogether.
India 🇮🇳, on the other hand, has adopted a “Wait & Watch” approach.
India 🇮🇳, on the other hand, has adopted a “Wait & Watch” approach.
1) Nigeria 🇳🇬 seeks to draw a clear line between #cryptocurrencies & digital assets.
With this, it joins the likes of South Korea 🇰🇷, Hong Kong 🇭🇰, and Singapore 🇸🇬.
According to them:
Digital assets = stablecoins, #NFTs, and CBDCs
Cryptocurrencies = #Bitcoin, Ethereum, etc
With this, it joins the likes of South Korea 🇰🇷, Hong Kong 🇭🇰, and Singapore 🇸🇬.
According to them:
Digital assets = stablecoins, #NFTs, and CBDCs
Cryptocurrencies = #Bitcoin, Ethereum, etc
2) This development comes from the head of the Nigerian Securities and Exchange Commission, Lamisil Yuguda.
The Nigerian SEC isn't really enthusiastic about the proliferation of #crypto assets within the country's borders.
The Nigerian SEC isn't really enthusiastic about the proliferation of #crypto assets within the country's borders.
3) And this reflects in its instructions to local banks not to provide services to companies engaged in crypto activities.
However, #crypto isn't banned in the country. ⚠️
However, #crypto isn't banned in the country. ⚠️
