The roughly five million residents of the Central African Republic, or CAR, will now reportedly be able to use Bitcoin in addition to the country's franc as legal tender. According to a Wednesday report from news outlet Agence France-Presse, Central African Republic President Faustin-Archange Touadéra has signed a bill into law establishing a regulatory framework for the use of cryptocurrency in the country as well as adopting Bitcoin (BTC) as legal tender. Obed Namsio, the president’s chief of staff, said the move was aimed at making the CAR one of the “boldest and most visionary” in the world. #BREAKING Central …

The British overseas territory of Gibraltar introduced a new regulatory package for distributed ledger technology (DLT) service providers. The document elaborates on the responsibilities of crypto businesses in regards to threats of market manipulation and insider trading. On April 27, the government of Gibraltar published the 10th Regulatory Principle of the country's financial services regulation. The details are revealed in a Guidance Note, provided by the Gibraltar Financial Services Commission (GFSC), the chief finance regulator of the territory. The regulation, crafted by a special working group that included both government officials and industry experts, sets operational guidelines for preventing market …

The New York State Assembly passed a bill late on Tuesday that would place a two-year ban on all new proof-of-work (PoW) cryptocurrency mining facilities in the state that use a carbon-based fuel to power their operations. The bill, sponsored by Anna Kelles, would not only impose a two-year hold on approval of any new Bitcoin mines, but the proposed moratorium would also prevent the renewal of permits issued to existing PoW cryptocurrency miners using carbon sourced energy if they seek to increase the amount of electricity consumed. Thrilled that my bill with Senate champion @kevinparkernyc A7389C/S6486D just passed in …

Regulation by enforcement, a fast and economical substitute for thorough rulemaking, is widely regarded as some of the U.S. executive agencies’ preeminent approach to crypto regulation. It could be summed up as letting crypto firms explore the boundaries of what is permissible by themselves and then punishing industry participants in case their exploratory actions come to look like a transgression. Others will take heed and learn from the explorer’s negative experience. While it is the United States Securities and Exchange Commission that gets accused of over-reliance on regulation by enforcement most frequently, other federal agencies do that as well. Last …

New York's legislature might ban proof-of-work (PoW) crypto mining in the state for at least two years, citing environmental concerns. Over the past weekend, on Saturday and Sunday, several crypto advocacy groups — including the Blockchain Association and Crypto Council for Innovation — rang the alarm over the upcoming vote in the New York Assembly. The state Senate's official webpage did not indicate a specific date for the vote. 1/ New York’s proposed moratorium on proof-of-work (S6486D/A7389C) mining has an unintended consequence - it puts innovation on the back burner. It would have significant implications for the security of major …

European Central Bank executive board member Fabio Panetta said lawmakers across the world must decide how to regulate cryptocurrencies based on potential risks. In a written statement for a speech to Columbia University on Monday, Panetta said global policymakers had made some progress in addressing regulatory frameworks on digital assets, but “not swiftly enough to keep pace with the emerging challenges.” According to the ECB official, the world needs crypto regulated based on Anti-Money Laundering and Countering the Financing of Terrorism rules of the Financial Action Task Force, strengthening public disclosure and reporting on regulatory compliance from the industry, and …

New York State Senator Kevin Thomas introduced a new bill amendment request to establish certain offenses related to rug pulls and other frauds related to virtual token distribution, misuse of private keys and hidden interests in crypto projects. The bill drafted by Senator Thomas, Senate Bill S8839, calls for defining, penalizing and criminalizing frauds specifically targeted at developers and projects that intend to dupe crypto investors. Through the bill, Thomas seeks to provide prosecutors with a clear legal framework against crypto crimes that align with the spirit of the blockchain while combatting fraud. It calls for a law amendment that …

As France braces for the April 24 presidential election in a runoff, political pundits around the globe are making their bets. The choice is between the centrist incumbent Emmanuel Macron and right-wing populist Marine Le Pen. Much of the political debate this time revolves around economics, but there is one indispensable part of it that is largely absent from the candidates’ electoral agendas: digital assets. While both have a record of public statements on matters related to crypto, neither Macron nor Le Pen seems to be likely to trigger any significant policy change with regard to the French digital economy. …

Mere days before the second round of the fateful presidential election in France, the incumbent president of the Republic, Emmanuel Macron, sat down with local media to share his thoughts on the digital economy — a subject on which he hasn't spoken much previously. While emphasizing the importance of the sector, Macron once again reiterated his support for the pan-European approach to financial technology regulation. The interview with French publication The Big Wale came on Friday, two days before the runoff that will see Macron face the right-wing populist Marine Le Pen. According to most polls, Macron is likely to …

The United States Office of the Comptroller of the Currency, or OCC, has said it intends to pursue cease and desist proceedings against cryptocurrency custody bank Anchorage Digital for violating certain Anti-Money Laundering (AML) requirements. In a Thursday announcement, the OCC said it issued a consent order against Anchorage Digital based on its “failure to adopt and implement a compliance program” in accordance with the required Bank Secrecy Act, or BSA, and AML standards. The government bureau said such actions placed Anchorage Digital in violation of its operating agreement with the OCC, established in January 2021. “The OCC holds all …

Web3 has given rise to a number of innovative business models. In particular, decentralized autonomous organizations (DAOs) have started gaining traction as Web3 and the creator economy comes to fruition. Natalie Salemink, CEO and founder of Prismatic — a tooling and treasury management platform for DAOs — told Cointelegraph that DAOs are internet-native organizations that utilize smart contracts to facilitate coordination and governance in pursuit of a common goal. When it comes to traditional businesses, though, one of the most interesting aspects a DAO structure can provide is leadership based on computer-generated code rather than individual authority. The idea of …

Victoria McLoughlin, who has worked more than 11 years at the Financial Conduct Authority, is temporarily heading the digital assets department of the United Kingdom’s financial watchdog. According to a Tuesday post on LinkedIn, McLoughlin assumed the position of interim head of the department of the regulator’s digital assets unit in April after serving as supervision manager of crypto assets and digital markets for more than two years. The FCA veteran started working for the financial watchdog in 2009 as an associate, later moving on to oversee supervision of virtual asset service providers. “It’s an incredibly important time for the …