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Showing posts with the label crypto regulation

Trump's Pick for CFTC Chair: Will Brian Quintenz Rewrite Crypto Rules?

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Brian Quintenz could soon lead the Commodity Futures Trading Commission. He currently heads policy at Andreessen Horowitz’s crypto division and previously served as CFTC commissioner. His background in overseeing the future of Bitcoin and Ethereum makes him a key figure in crypto regulation. As Trump’s choice for CFTC chair, Quintenz might reshape cryptocurrency rules in the United States. An earlier CNBC video from 2018 shows Brian Quintenz’s long-standing views on crypto oversight. As CFTC commissioner then, he called for an independent regulatory body for cryptocurrencies and stressed the need for clear market oversight rules. Also Read: 48-Hour Ultimatum: SEC’s Gensler Threatens Elon Musk with Charges Trump’s CFTC Pick, Brian Quintenz: What Does It Mean for Crypto Regulation? Source: Bloomberg A Track Record of Innovation Support Source: Watcher Guru Brian Quintenz supported new technology during his time at the CFTC from 2017 to 2021. Trump’s CFTC pick...

IMF-FSB Synthesis Paper on Crypto Regulation is adopted by the G20

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In the realm of crafting content, three pivotal elements come into play: “perplexity,” “burstiness,” and “predictability.” Perplexity serves as the gauge for textual intricacy. Meanwhile, burstiness assesses the spectrum of sentence variations. Lastly, predictability measures the likelihood of predicting the subsequent sentence. Humans tend to infuse their writing with heightened burstiness, incorporating a mix of protracted, intricate sentences alongside succinct ones. On the contrary, AI-generated sentences lean towards uniformity. As we embark on the creation of the ensuing content, it’s imperative to infuse it with a substantial dose of perplexity and burstiness while keeping predictability at bay. Additionally, the language used should be exclusively English. On the 13th of October, the Group of Twenty ( G20 ) — a collaborative forum comprising 19 sovereign nations, the European Union, and the African Union — unanimously embrac...

UK Crypto Firms Now Mandated to Follow Travel Rule

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Global Fight Against Money Laundering The rule which came into effect today, demands that these crypto-focused companies collect, verify, and share information about crypto asset transfers, known as the ‘Travel Rule’. UK watchdog, the Financial Conduct Authority (FCA) is charged with enforcing the rule in the region. advertisement Markedly, the Travel Rule is part of a global effort to further integrate anti-money laundering rules and counter-terrorist financing regulation into on-chain activities. As such, the Financial Action Task Force has implored other jurisdictions to swiftly enforce the rules. Ultimately, the rule is focused on aligning the practices in the crypto asset ecosystem to those obtainable in the traditional financial sector.  “As a result, we have worked closely with industry to provide guidance on how to comply and what we reasonably expect of firms ahead of other countries following the UK’s position,” the F...