BREAKING: 🇺🇸🇬🇧 THE US AND UK HAVE LAUNCHED A JOINT TASK FORCE TO COORDINATE ON #CRYPTO REGULATION.GIGA BULLISH !!🚀 https://t.co/YH9BMYxOtI ...

Core Viewpoint - The debate over cryptocurrency regulation in India reveals a significant divide between the Securities and Exchange Board of India (SEBI) and the Reserve Bank of India (RBI), with SEBI open to oversight while RBI opposes legitimizing digital assets [1][6] Regulatory Perspectives - The RBI argues that regulating cryptocurrencies may inadvertently legitimize them, posing systemic risks to the financial system, and highlights challenges posed by the decentralized nature of digital assets [2][5] - SEBI is willing to regulate crypto assets that resemble securities, proposing a multi-agency framework for oversight, which aligns with international regulatory models [3][5] Policy Landscape - India has not yet established a comprehensive law for cryptocurrencies, limiting actions to taxation and anti-money laundering measures, with a legislative framework stalled due to RBI's resistance [4][5] - The lack of clarity on regulatory authority creates uncertainty for investors and firms, hindering expansion and investment in the crypto sector [5][6] Global Context - India's regulatory stance is under global scrutiny due to its large retail investor base and potential influence on how emerging markets balance financial innovation with systemic stability [6]

Core Viewpoint - The UK's Financial Conduct Authority (FCA) is initiating a consultation to establish minimum standards for cryptocurrency firms to enhance oversight in a sector that has been challenging to regulate [1][2] Group 1: Regulatory Measures - The proposed measures aim to promote sound business practices similar to those required of traditional financial firms, including operational resilience and systems to combat financial crime [1] - The FCA's consultation is part of a broader effort to improve the competitiveness of the UK crypto sector while tightening oversight, as London has lost its position as a crypto hub to places like Dubai and Singapore [2][3] Group 2: Scope of Regulation - The consultation follows a draft Statutory Instrument from the Treasury that aims to bring crypto activities under the Financial Services and Markets Act, expanding the FCA's authority to include stablecoin issuance and custody of cryptoassets [3] - Proposed regulations will include lighter requirements for senior managers and technology outsourcing, reflecting the smaller systemic footprint of crypto firms compared to banks, while imposing stricter standards for unique risks such as cyber attacks [4] Group 3: Industry Criticism - The UK's regulatory approach has faced criticism for being disjointed and overly restrictive, with specific proposals like the Bank of England's stablecoin ownership cap being labeled as unnecessary by industry players such as Coinbase [5]

The U.K.'s Financial Conduct Authority (FCA) has plans to waive some of its rules for cryptocurrency companies, according to a Financial Times (FT) report on Wednesday. However, in another areas the FCA intends to tighten the rules where they pertain to industry-specific risks, such as cyber attacks. The financial watchdog wishes to adapt its existing rules for financial service companies to the unique nature of cryptoassets, the FT reported, citing a consultation paper published Wednesday. "You have to ...

Market Trends & Investment - Bitcoin climbed following an encouraging inflation reading, and the S&P 500 jumped to a new record after a reading on wholesale prices unexpectedly dropped [1][2] - Institutional interest has been shifting towards Salana, with Soul Strategies uplisting its shares to the NASDAQ [3] - Forward Industries announced a more than $15 billion private investment led by Galaxy Digital, Jump Crypto, and Multicoin Capital [3] - NASDAQ plans to invest $50 million in Gemini, allowing the stock exchange to offer Gemini's custodial services to financial institutions [4] - Gemini aims to sell more than 165 million shares priced between $24 and $26 each in its IPO [5] - Binance is teaming up with Franklin Templeton to develop digital asset products [6] Regulatory Landscape - The SEC crypto task force has been holding meetings with industry participants since early this year, showing a shift towards an open-door policy [10] - The Clarity Act passed by the House was a great first start and a strong signal that Congress can move quickly in this space [8][12] - The Senate is using the Clarity Act as a baseline for its version of a market structure bill, with hopes of having a bill on the president's desk by Christmas [14] - A group of Senate Democrats came out with a set of market structure principles, signaling bipartisan willingness to participate in the process [16] - The Genius Act passage showed that regulation can stimulate innovation, leading to a flood of partnership and new project announcements in the stable coin space [18][20] Future Considerations - Tax policy is the next big area that requires discussion, including topics like minimum dimminimous thresholds for transacting and the treatment of staking rewards [23][24] - The industry is excited to see where the discourse goes as it relates to DeFi, especially if DeFi is not comprehensively covered in market structure [25][26]

Core Viewpoint - India is opting for partial oversight of the crypto sector rather than a comprehensive law, due to concerns about systemic risks associated with integrating digital assets into the mainstream financial system [1][2][6] Regulatory Environment - The Reserve Bank of India (RBI) has expressed skepticism about effective regulation, suggesting that legitimizing cryptocurrencies could lead to wider adoption and systemic risks [2][6] - The government has implemented heavy taxation, including a 30% tax on profits and a 1% tax deducted at source on transactions, which has significantly reduced domestic trading volumes [3][4] - Global exchanges can operate in India if registered with the Financial Intelligence Unit, as demonstrated by Bybit's resumption of services after paying a penalty [3] Market Dynamics - Despite regulatory restrictions, crypto adoption in India remains strong, with an estimated $4.5 billion held in digital assets [4] - The current regulatory framework is designed to discourage speculative trading and penalize fraud, contributing to India's leading position in the global crypto adoption index [4][7] Concerns about Stablecoins - The government has raised concerns regarding stablecoins, noting their vulnerability to market shocks and potential to disrupt domestic payment systems, particularly the Unified Payments Interface (UPI) [5] - The growth of stablecoins, often pegged to the U.S. dollar, could pose challenges to global financial stability [5] Future Outlook - India is maintaining a cautious approach by tightening oversight without granting legal recognition to digital assets, which could make them systemic [6]

🇺🇸 JUST IN: SEC’s Crypto Task Force met with Robinhood to discuss crypto regulation and tokenized securities. https://t.co/pojvz93Xey ...

Regulatory Landscape Shift - The SEC's stance on crypto has shifted from opposition to active support for innovation [1][2][4] - Paul Atkins, the new SEC chairman, prioritizes regulatory clarity for crypto assets, contrasting with his predecessor [7][8] - Project Crypto aims to create a modern regulatory framework to keep crypto companies in the US [13] - The SEC acknowledges that most cryptocurrencies are not securities and aims to help market participants identify security status [15][16] Project Crypto Initiatives - Project Crypto focuses on bringing crypto asset distribution back to America by ending convoluted offshore structures [14][15] - Modernizing crypto custody regulations for both self-custody and custodial intermediaries is a key initiative [16] - The SEC aims to allow market participants to innovate with super apps under a unified regulatory framework [17] - Updating agency rules for centralized and decentralized protocols, including DeFi, is another focus [18] - Creating an innovation exemption allows new crypto projects to launch without full compliance with outdated rules [18][19] Potential Impact and Risks - Tokenized Real-World Assets (RWAs) are expected to benefit significantly from Project Crypto [16][27][28] - A relaxed regulatory approach could introduce risks of fraud and market manipulation [34] - Full implementation of Project Crypto could take years, with phased progress and early policy changes expected sooner [23][24]

Crypto Policy & Regulation - Coin Center's Valkenburgh scores Trump's stance on crypto [1] - Discussion covers introduction to crypto policy [1] - Analysis of the Trump Administration's impact on crypto [1] - Examination of Congressional actions on crypto regulation [1] - Highlights optimism and bipartisanship in Congress regarding crypto [1] - Addresses pessimistic expectations surrounding crypto [1] - Notes challenges with crypto prosecutions [1] - Emphasizes the need for legislative clarity in the crypto space [1] - Raises concerns over financial privacy in the context of crypto [1] - Discusses the role of tax policy in crypto [1] - Explores the future of crypto liberty [1] - Concludes with a call to action related to crypto [1]

Warren Warns Crypto Regulation ‘Supercharges President Trump’s Corruption'► https://t.co/DthBKRYHHk https://t.co/DthBKRYHHk ...