Digital Currency and Blockchain Weekly Round-Up – December 13th, 2019
Fri, 13 Dec 2019, 12:12 pm UTC
New York regulator publishes proposed guidance to modify BitLicense
The New York Department of Financial Services (NYDFS) has officially announced that it is reviewing its virtual currency regulations. The regulator on Wednesday published proposed guidance that seeks to modify the approval process for new coin listings. NYDFS Superintendent Linda Lacewell said that this marks the first step in DFS’s review of New York’s BitLicense to respond to changes in the marketplace over the past four years.
Basel Committee on Banking Supervision mulls designing global prudential standard for crypto-assets
The Basel Committee on Banking Supervision (BCBS) is seeking feedback on the prudential regulatory treatment of crypto-assets. The committee on Thursday published a discussion paper “Designing a prudential treatment for cryptoassets.” The paper said, “The current Basel framework does not specify the prudential treatment for banks’ exposures to cryptoassets, given their relative novelty. The Committee is considering whether to specify a global prudential standard.”
Ukraine passes final regulatory law for anti-money laundering; Taps Belarus exchange for more regulatory expertise
The anti-money laundering law (AML) that will oversee the crypto space within Ukraine has now been completed and passed. Ukrainian legislating body Rada recognizes that crypto-assets can be used as a store of wealth but is also taking precautions due to the risks that it poses. Under this new regulatory framework, individuals and virtual asset service providers (VASP) will be monitored by authorities to decrease crime occurrence in the nascent sector.
SEC chairman says DLT can foster capital growth; Revealed that agency has been studying digital assets