There are already three times as many cryptoclaims in the USA as last year. Japan is expanding its regulatory team, while France is pinning all its hopes on successful regulation of ICOs. The most important thing that has happened in Bitcoin and other crypto currency regulation in the last week, in brief. The regulatory ECHO.
The regulatory reports are again clearly USA heavy. There, Hester Peirce of the SEC spoke in favor of a much more positive tone compared to Bitcoin. In addition, a court in the case of Mt Gox dismissed his responsibility. No wonder, after all they have enough to do: there are already more cryptoclaims in 2018 than in the whole of last year. Meanwhile Japan is working on a new regulatory team, while France is hoping to lure blockchain start-ups into the country. You can find out where the regulation hammer is swinging in the regulation ECHO.
Bitcoin news: Hester Peirce speaks out for crypto currencies
Hester Peirce, commissioner at the US Securities and Exchange Commission, SEC, has argued in the Bitcoin news that the authority should be more open-minded about crypto currencies in general and prevent scam. It also pointed out that crypto currencies have a stigma. In this context, she said, it was above all the high complexity of the issue that deterred many investors. The SEC had to position itself well in order to create some clarity here.
US court drops proceedings against Mt Gox
A US court had to drop the lawsuit against Mt. Gox and the associated Mizuho Bank. The reason for this was that the Japan-based bank did not have a valid jurisdiction in the USA. As a result, it will be even more difficult in future for users from the USA who have been put off by the law to take legal action against the questionable stock exchange from Japan.
USA: In 2018 three times as many crypto-claims as last year
In the first two quarters of the current year, there have already been three times as many crypto claims as in the whole of 2017. According to one report, the number of claims containing the words bitcoin, blockchain or crypto currency has already tripled compared to last year. According to the report, the SEC is responsible for about one third of these lawsuits.
Japan: Larger team & self-regulation
The Japanese Financial Supervisory Authority has increased its team. At the same time, Japan has given an update on the current state of regulation of Bitcoin exchanges. At the time of publication, more than 160 companies wanted to penetrate the Japanese market. In order to cope with this onslaught, the FSA wants to increase its team of 30. The agency is also considering issuing guidelines on self-regulation in the future. In the light of the current Hacks of the Bitcoin stock exchange Zaif surely not a bad idea.
France: New guidelines for ICOs
There are news about ICO regulation from geographically close proximity. France has published a new framework that deals with the regulation of ICOs. Finance Minister Bruno Le Maire hopes that the new guidelines, which provide for clear tax regulation and a legally secure framework, will result in a significant increase in start-ups from the surrounding area: