Crypto News 

Blockchain and the City: New York State as a “Tough” Model of Crypto Regulation

“New York has gravitated toward a tight regulatory model that, at least according to the majority of state representatives, fits its status of the global financial center the best” writes Kirill Bryanov for cointelegraph.com. New York is in a unique situation because it regulates a major financial center, the largest in the world. Source: cointelegraph.com

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Crypto Futures Markets News 

Indonesia Launches Regulatory Framework for Crypto Futures Market

“The new regulatory framework announced today is comprised of numerous major rules for operators in the crypto futures space” writes Celeste Skinner for financemagnates.com. Operating under Indonesia’s Ministry of Trade, the regulator has stated that cryptocurrency futures exchanges wanting to operate in Indonesia, must be registered and approved before they can commence operations.The regulation announced today, follows on from reports released back in June of last year, that cryptocurrency futures trading is legal in Indonesia.The Indonesian Commodity Futures Trading Supervisory Agency (Bappebti) announced via an official press release that it…

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Crypto News 

CFTC Commissioner Brian Quintenz Suggests Creation of Crypto Self-Regulatory Organization

“United States Commodity and Futures Trading Commission (CFTC) commissioner Brian Quintenz has suggested that participants in the cryptocurrency industry should create a self-regulatory structure” writes Adrian Zmudzinski for cointelegraph.com. Securities and Exchange Commission (SEC) commissioner Hester Peirce, who was also a speaker at the panel, reiterated how confusing the current regulation of the crypto industry is.Still, the CFTC commissioner also pointed out that “a self-regulatory organization is specifically chartered by Congress through the law,” while this would only be a mutual association of private companies participating in the industry. Source: cointelegraph.com

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News 

Chinese province bans app-based homework to save students’ eyesight

“Zhejiang province issued a draft regulation last week and is undergoing a public consultation” writes Vernon Bogdanor for telegraph.co.uk. It is hoped the rule limiting screen time at school will bring those rates down.Along with banning app-based homework assignments, the Zhejiang regulation would limit the use of electronic devices to 30 percent of total teaching time and instead encourage homework to be completed by hand on paper. Source: telegraph.co.uk

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News 

Facebook is a ‘digital gangster’ that urgently needs more regulation, UK lawmakers say

“Facebook “intentionally and knowingly” violated U.K. data privacy and anti-competition laws and urgently needs to be regulated and investigated, a scathing new report by British lawmakers said” writes Matt Mcclain for cnbc.com. The committee accused Facebook CEO Mark Zuckerberg of showing “contempt” toward U.K. parliament for declining to testify in front of lawmakers.The final report issued Monday by the U.K.’s Digital, Culture, Media and Sport committee concluded an 18-month investigation into Facebook and other social media companies for their role in spreading “fake news” and disinformation.”Companies like Facebook should not…

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Crypto News 

Japan Economic Alliance Asks Financial Regulator FSA to Reduce Tax on Crypto

“The Japan Association of New Economy (JANE) has asked the Japanese Financial Services Agency (FSA) to reduce the current tax rate for crypto trading income, Cointelegraph Japan reported on Feb. 14” writes Helen Partz for cointelegraph.com. In the regulation proposal, JANE asked the Japanese regulator not to harm innovation by imposing restrictive regulation on the crypto industry.The association has also asked the FSA to impose no tax on crypto-to-crypto transactions.Led by Hiroshi Mikitani, the CEO of Japanese e-commerce giant Rakuten, JANE has reportedly sent a proposal request to the country’s…

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Crypto News 

SEC’s “Crypto Mom” Speaks: Lack of Laws May Have Benefited Industry

“Peirce even went so far as to suggest that in some respects, the industry may already be facing over-regulation” writes Rachel Mcintosh for financemagnates.com. However, if you comply with the spirit of the law, but not the letter of the law, you just get a letter telling you to fix it in most cases.”. Many companies around the world have called for their governments to create more regulations, thus creating a sort of “path to legitimization” as cryptocurrency itself makes the transition from “magic internet money” to a legitimate transactional…

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AUD Markets News Platforms 

Regulation needed to curb Facebook and Google, watchdog says

“In the past three years, Google and Facebook are estimated to have captured 80% of the growth in digital advertising” writes Amanda Meade for theguardian.com. The production of news and journalism cannot be left entirely to market forces and regulation is needed to curb the power of Facebook and Google, the competition regulator says.The preliminary report recommended a powerful new authority to oversee the commercial activities of Google and Facebook.The ACCC chairman, Rod Sims, says the digital platforms inquiry, which delivered its preliminary report in December, revealed that the market…

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Crypto News 

SEC ‘Crypto Mom’: Delay in Crypto Regulation May Allow More Freedom for Technology

“Discussing the current delays in delivering a clearer legal framework for crypto, Peirce said that ambiguity is not that bad” writes Ana Berman for cointelegraph.com. She stated that enforcement actions are not her preferred method for setting expectations for crypto investors.In the bill, two U.S. representatives seek to exclude digital currencies from being defined as securities by amending the Securities Act of 1933 and the Securities Act of 1934.A commissioner of the United States Securities and Exchange Commission (SEC) said Friday, Feb. 8, that the delay in establishing crypto regulation…

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