Following Brexit, the UK asks crypto industry about rules for cross-border st...
In addition to trying to define stablecoins, the UK is looking to establish how close it wants its crypto laws to be to other countries. Her Majesty's Treasury requests and requires the crypto industry's input on prospective regulation.In a Jan. 7 announcement of open consultation, the United Kingdom's finance policy department is asking the crypto community to weigh in on a series of proposals: "The government invites views from a wide range of stakeholders, and particularly firms engaged in cryptoasset activities." While Brexit formally came into effect early last year, New Year's Eve....
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The Russian President held a meeting with the attorney general’s office where cryptocurrencies came to the discussion table. Vladimir Putin raised red flags toward taking measures to prevent illegal activities on cross-border transfers with cryptos. Putin Calls Other Offices to Join the Fight Against the Usage of Cryptos for Illicit Purposes According to a transcript made public on the Kremlin’s official site, Putin considered that the General Prosecutor’s Office should keep engaged in strengthening financial monitoring. That being said, the Russian President pointed....
Russia might become the first country in the world to allow cross-border crypto payments while banning local crypto payments, a fintech expert in the Russian State Duma said. Russian Prime Minister Mikhail Mishustin on Tuesday officially instructed the government to come to a consensus regarding crypto regulation in Russia by Dec. 19, 2022.The prime minister specifically called on the Duma and other state authorities to come up with coordinated policies on regulating the issuance and circulation of digital currencies in Russia. Mishustin also asked regulators to finalize regulations for....
Bitcoin looks suitable for Russia’s crypto cross-border payments at first glance, but there are many reasons why such a choice is highly questionable. Despite Russia pushing the idea of using cryptocurrencies for cross-border payments, it still remains unclear what digital asset exactly the government plans to adopt for such transactions.Russian authorities are quite unlikely to approve the use of cryptocurrencies like Bitcoin (BTC) for cross-border transactions, according to local lawyers and fintech executives.Bank of Russia needs to control cross-border transactionsIt’s “highly....
Mikhail Mishustin, the Russian Prime Minister, has ordered the government to establish rules regarding crypto regulation by the end of this year. The date by which the Russian government is supposed to arrive at a consensus has been set as December 19, 2022. The Prime Minister has explicitly instructed the Duma, as well as other […]
Russia is apparently preparing to scrutinize cross-border cryptocurrency transactions for potential illegal activity. Russian President Vladimir Putin has stressed the importance of developing additional measures to fight against illegal cross-border transactions of digital financial assets.Speaking at a board meeting of the General Prosecutor’s office Wednesday, Putin stated that “criminal elements have been increasingly deploying digital financial assets,” which needs special attention from the government.“There is one more point — quite new, but essential: we should take additional....