Hong Kong's New Regulation ‘Might’ Be Harmful for Local Crypto Industry, Experts Say

New regulations for crypto-related companies, which Hong Kong’s Securities and Futures Commission (SFC) announced earlier , might prevent crypto entrepreneurs from entering the market. Expert comments on the situation were reported by business media Nikkei Asian Review on Monday, Dec. 17.

Timothy Loh, owner of a local law firm, told Nikkei that some entrepreneurs might decide not to participate in the new framework in order to “maintain their current shares in the market.” 

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Japanese Association Seeks Authority to Enforce Self-Regulation on Crypto Exchanges

Japanese Association Seeks Authority to Enforce Self-Regulation on Crypto Exchanges

Regulation

Japanese crypto exchanges may soon have an official self-regulatory body. The Japan Virtual Currency Exchange Association has applied with the country’s financial regulator to become the authority for self-regulation, with the power to enforce rules on its crypto exchange members.

Also read: Yahoo!

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Survey: Crypto Exchanges Want Regulation but See Strict Policies as a Threat

Economy & Regulation

The majority of crypto exchanges want to see the industry regulated, although many consider excessive regulation to be the biggest threat, according to a new study. A third of the platforms in the poll also fear a market crash that could suddenly devalue digital assets.

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Survey Finds That 88% of Crypto Exchanges Are Crying Out for Regulation

A survey conducted by crypto-friendly payment company Mistertango has found that almost 9 out of 10 digital currency exchange platforms want to see the industry regulated. However, there are also some fears that said regulation could stifle crypto innovation.

Cryptocurrency Companies Crave the Stability that Regulation can Create

The survey conducted by Mistertango targeted 24 different cryptocurrency exchanges from around the world.

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88% Of Crypto Exchanges Want Industry Regulation, New Study Reveals


Lithuania-based crypto payment company Mistertango has released a study which reveals that 88% of cryptocurrency exchanges want industry regulation. The study was based on responses from 24 crypto exchanges across the world with a total daily trading volume of over $100 million. The responses show an industry that wants to be part of the formal system,

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Crypto Week In Review: Nasdaq Leads Regulation Talks, Legitimizing Bitcoin

Discussion about cryptocurrency-related regulation continued into this past week, as Bitcoin took the lead, driving the market up by just under 10% overall.

Winklevoss Twins’ Revised ETF Gets Shot Down By The SEC

On Thursday, the announcement of the most recent verdict regarding the Winklevoss Twins’ Bitcoin ETF hit headlines all across the industry.

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Indian Crypto Regulation Ready by September: Official

News

The Indian government is expected to issue detailed cryptocurrency guidelines by September, a senior official from the country’s Ministry of Finance reportedly said. Consultations with all stakeholders including the central bank have already begun. This announcement is independent of the supreme court’s hearing of petitions relating to crypto regulation in India.

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Ban U-Turn? India’s Central Bank Admits Cryptocurrency Regulation is Necessary


In a first, India’s central bank has called for the regulation of the domestic cryptocurrency sector during Friday’s hearing at the Supreme Court, weeks after enforcing a banking ban against crypto companies.

Earlier in April, the Reserve Bank of India (RBI) issued a circular that forbade all financial institutions – banks included – from offering services to businesses in the cryptocurrency sector.

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South Korea’s Crypto Regulation Shakeup: New Bureau, Agreement With China

Regulation

South Korea’s top financial regulator is planning a major organizational restructuring that includes introducing some new crypto policy initiatives. A bureau dedicated to financial innovations that include cryptocurrencies is being set up. In addition, an agreement with Chinese authorities relating to crypto and initial coin offerings has also been reached.

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