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Nigeria’s markets regulator publishes set of rules for digital assets

Nigeria’s markets regulator has published 54 pages of regulations for digital assets, as the country may be stepping back from an earlier ban on cryptocurrencies. Last February, the Central Bank of Nigeria (CBN) issued a letter telling regulated financial institutions in the country to “immediately” close accounts connected to cryptocurrency-related activities, The Block reported at the time. Still, Nigeria’s young, tech-savvy population has eagerly adopted cryptocurrencies, often using peer-to-peer trading offered by crypto exchanges to avoid the ban, Reuters noted …

Belgium’s FSMA takes step toward regulating crypto businesses: report

Belgium’s Financial Services and Markets Authority (FSMA) required all crypto-exchanges and custodial wallet services in the region to register with the agency beginning today, AMBCrypto reported. The FSMA added that: “Providers already operating on 1 May 2022 must notify the FSMA of the exercise of their activity before 1 July 2022 and apply for registration before 1 September 2022.” Despite some industry concerns, many see the rule as necessary for ensuring the growth and stability of the crypto sector in …

Three Arrows Capital plans to move headquarters to Dubai from Singapore: reports

Singapore-based crypto hedge fund Three Arrows Capital is planning to move its headquarters to Dubai, according to media reports. The move comes as Dubai opens to crypto firms while Singapore has been more conservative with its regulatory approach, Bloomberg reported. “The energy in Dubai’s digital asset industry is electric right now,” Three Arrows co-founder Su Zhu told CoinDesk, which initially reported the story. “We have decided to move our Three Arrows headquarters to Dubai and I’m looking forward to meeting …

Panama assembly passes bill to permit use of crypto assets: report

Panama’s National Assembly almost unanimously approved a bill to regulate the use and commercialization of crypto assets in a country already known as a hub of offshore financial services, Reuters reported. The bill, which now goes to President Laurentino Cortizo for signing, passed through the assembly on Thursday with 38 votes in favor, two abstentions and no votes against. The bill covers the trading and use of crypto assets, issuance of digital securities, new payment systems and the tokenization of …

Brazil inches closer to finally regulating cryptocurrencies

Brazil’s Senate passed a bill this week that would regulate the cryptocurrency market in the country, giving new momentum to legislation that has been in the works for years.  The Senate voted to move the bill forward on April 26, which includes input from three other bills that have been making their way through the halls of Brazil’s Congress as lawmakers have sought to keep up with the evolving technology. Well-defined cryptocurrency legislation in Brazil would be significant for a …

Macron discusses EU regulation, web3, French start-ups and innovation: report

French crypto website The Big Whale published an interview on Friday with President Emmanuel Macron, just two days before the conclusion of the second round of the French election that pits him against rival Marine Le Pen. The interview was published in French along with an English translation. Macron described to the interviewers a hopeful regulatory future in which a unified European finance sector would take a pragmatic approach that would instill confidence yet encourage innovation. “France will pay close …

Australian authorities lay out guidelines and roadmaps for crypto industry regulation

The Australian Prudential Regulation Authority (APRA) set out initial risk management expectations for regulated entities dealing with crypto assets on Thursday, as well as a policy roadmap for introducing further standards over the next three years. In a letter from APRA Chair Wayne Byres, the authority, which supervises banking, insurance and pension institutions in Australia, emphasized the need for due diligence and risk assessments when dealing with crypto assets.  Its roadmap revealed plans to introduce operational risk standards by 2024, …

Andre Cronje: ‘regulated crypto’ more feasible than ‘crypto regulations’

Quick Take Andre Cronje says regulated crypto access is much better than trying to enforce crypto regulations. The DeFi developer says countries can create national blockchains to oversee crypto activities. Prominent DeFi developer Andre Cronje has called for the emergence of what he termed “regulated crypto,” where cryptocurrency businesses are licensed to operate under a national blockchain framework, over more heavy handed “crypto regulation.” Writing in his blog today, Cronje called regulated crypto a more feasible approach than trying to …

Andre Cronje: ‘Crypto culture has strangled crypto ethos’

Popular DeFi architect Andre Cronje has decried the nature of “crypto culture” arguing that it stands in contrast to the ethos of the emerging ecosystem in a blog post published Monday. According to Cronje, crypto culture with its drive for wealth drive is stifling the more noble pursuits associated with crypto’s ethos. “I have long been vocal on my disdain of crypto culture, and my love for crypto ethos. Reading that might sound weird, but crypto ethos is concept like …

Binance poaches French financial regulator’s deputy general counsel

Binance has hired Stéphanie Cabossioras from France’s Autorité des Marchés Financiers (AMF) in the latest example of a crypto exchange poaching staff from a financial regulator.  Cabossioras was the AMF’s deputy general counsel until March, according to her LinkedIn profile. She is listed as a speaker for Binance at the Paris Blockchain Week Summit on Wednesday, addressing the topic of “leveraging blockchain to prevent crime.” A Binance employee at the exchange’s conference stand confirmed to The Block that Cabossioras is …