mark this Monthly articleIn this article, we will provide an overview of new legislative projects or regulatory trends related to Bitcoin (BTC) and cryptocurrencies. In this 7th-minute opus Regulating Cryptography, we’ll go over the United Stateto me Qatar before ending under the coconut treesHawaii.
United States: Bitcoin, Ethereum, and company are commodities
On May 16, 2022, Chairman of the Board of Directors Commodity futures trading commission (CFTC) of the United States, Rustin Behnamspeak on a topic Cryptocurrency regulation Marking a an interview Granted to CNBC. In this regard, the CFTC chair emphasized that Bitcoin, like Ether, is means of comfort Which, as such, is within the scope of the Commission.
Moreover, he explained that the CFTC was working in cooperation with Securities and Exchange Commission (SEC) to regulate the cryptocurrency industry to ensure protection efficiency Client from this market.
Then Rustin Behnam, when asked about the bill in Congress, insisted:
“It’s a bit of an old issue between the CFTC and the SEC. Historically, we have a great relationship. In this space [celui de la crypto]In my view, it makes sense for commodities to be regulated by the CFTC and for securities to be regulated by the Securities and Exchange Commission (SEC). »
Finally, when asked about SEC Chairman Gary Gensler emphasizing that bone digital icons Accounting insuranceRustin Behnam echoed this the biggest Cryptocurrencies (Bitcoin and Ether) are means of comfort. Ironically, the head of the CFTC said he did not believe there was a rift between the two organizations.
He concludes the interview by saying that the CFTC and the CFTC want this to organize sector “Carefully”all in protection customers and financial stability.
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Qatar: Home of the First Cryptocurrency Exchange (or Not)
According to a press release dated May 19, 2022, the exchange Coinmena Based in Bahrain will be the first to bring him Entry into the country. The announcement was made by Coinmena which claims that residents of Qatar can now link their bank accounts to cryptocurrency wallets.
In fact, Coinmena’s founders said:
We are excited to become the first cryptocurrency exchange to offer our services in Qatar. Investors have been wondering about our plans to enter the country for some time now. Thus, this news represents a major step in our plans for geographical expansion (…). »
However, there are reasons for A question Coinmena advertisement. Indeed, according to a statement issued on the same day, the Qatar Central Bank (BCQ) warned Qatari residents vs. Unlicensed financial institutions and service providers.
In addition, the central bank emphasized in this warning:
“No financial institution has been authorized to offer digital currency exchange, transfer and trading services.”
Finally, BCQ announced that it would bring a lawsuit against any entity providing digital asset services without a license issued by it. Follow !
Hawaii: Central Regulatory Crypto
On the Hawaiian side, the month of May 2022 is placed under the banner of cryptocurrency regulation more than ever. In fact, the 2 main organizing committeesnamely Commerce and Consumer Protection (CPN) and Ways and Means (WAM), have agreed to Launch a working group.
This group is called Blockchain and Cryptocurrency Task Force It will be the main goal Overseeing the local ecosystem Digital assets and exploring the potential use of cryptocurrencies. Therefore, the group should work Create a master plan to explore usage and organization Digital assets and blockchain technology.
Regarding blockchain technology, the Blockchain and Cryptocurrency Task Force will focus on developing a plan to expand this technology to achieve Adoption of the private and public sectors.
The creation of such a working group is not unprecedented in the world of cryptography. A few months ago, the Securities and Exchange Commission was on Nigeria Unveiled the FinTech unit of the company regulation of the local ecosystem digital assets.
Have a nice week at Journal du Coin!
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