It’s that time of the week! Where we discuss the latest happenings in the crypto and blockchain space. A prime topic this week is how cryptocurrency regulation is being implemented across the globe. Nigeria makes bold moves towards regulating crypto assets, and leaked documents suggest that Europe’s shortly behind Nigeria’s regulation crackdown. However, unfortunately for India instead of finding regulation solutions, there’s talk of a crypto asset trading ban across the country. Let’s jump into a closer look into this week in crypto!
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Nigeria Sets a Regulatory Example
In a recent statement signed by the Securities and Exchange Commission (SEC) stated that all crypto assets will go under regulation, which will cover the securities and exchanges. We’ve seen a large adoption of cryptocurrency in Africain regions, so this is an immense step forward protecting investors. “The general objective of regulation is not to hinder technology or stifle innovation but to create standards that encourage ethical practices.” Read more.
A Leak Providing Clarity
A leaked draft of the rules regarding regulating crypto assets provides certainty around the regulation of cryptocurrencies, security tokens, and stable coins in Europe. According to the headlines, the leaked legalities draft provides a framework for securities markets, investment intermediaries, and trading venues to follow. This long-awaited clarity will hopefully introduce a new scope for the industrialization and adoption of digital assets here in Europe. Read more.
India to Ban Crypto Asset Trading?
Instead of looking at a regulatory framework for the trading of crypto assets, India’s federal cabinet sets to ban the trade of crypto assets. Counterproductive to India’s neighbours, with countries taking a leading role in the development of cryptocurrency in the Asian regions. “A renewed trading ban could affect more than 1.7 million Indians trading in digital assets and a rising number of companies setting up platforms for the trade, data shows.” Read more.
coinpass Selected for Business Growth Programme
It’s exciting to see the UK government support fintech business across London especially those who participate in digital assets.coinpass.com is honoured to be alongside 30 other London based businesses accelerating recognition and growth around cryptocurrency here in the United Kingdom. Read more.
What did you think of this week's developments? Which story sparked your interest the most? See you next time for our weekly low down on crypto and blockchain growth. We look forward to discussing the week ahead.
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