Cryptocurrency Minutes # 7: Bitcoin and Cryptocurrencies Faced by Financial Police

On this occasion Monthly articleProvides an overview of legislative projects or new regulatory trends related to Bitcoin (BTC) and cryptocurrencies. In this seventh piece of the Cryptographic Minutes, AmericaTo Qatar Before ending under the coconut palmHawaii..

United States: Bitcoin, Ethereum, company is a commodity

May 16, 2022, Commodity Futures Trading Commission (CFTC) Of the United States, Rostin BehnamTalked about the subject of Cryptocurrency regulation In an interview with CNBC.In this regard, the CFTC chairman said Bitcoin is like Ether. Amenities Therefore, it is within the scope of the committee.

In addition, CFTC Securities and Exchange Commission (SEC) Regulating the cryptocurrency industry protection Efficiency client Of this market.

Then, when Rostin Benham was asked about the bill in Congress, he insisted that he said:

“This is a slightly old problem between the CFTC and the SEC. Historically, we have a great relationship. In this space. [celui de la crypto]In my view, it makes sense that commodities are regulated by the CFTC and securities are regulated by the SEC. »»

Finally, when asked about SEC President Gary Gensler’s allegations, many Digital tokens Financial securitiesRossin Behnam repeated: maximum Cryptocurrencies (Bitcoin and Ether) Amenities.. Paradoxically, the CFTC chair said he believes there is no disagreement between the two regulators.

He concludes the interview with what the CFTC and SEC want adjust area “Thoughtful”All-in protection Customer and financial stability.

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Qatar: Home of the first crypto exchange (or not)

According to a press release dated May 19, 2022, the exchange Coin Mena Will be the first person to make him based in Bahrain Entry into Qatar territory.. The announcement was made by Coinmena, who claims that Qatar residents can now connect their bank accounts to cryptocurrency wallets.

In fact, the Coinmena co-founder said:

“We are pleased to be the first cryptocurrency exchange to offer our services in Qatar. Investors have been questioning our plans to enter the country for some time. , This news represents a major step in planning geographic expansion (…). »»

However, there is a reason question Announcement of Coinmena. Indeed, according to a statement on the same day, the Qatar Central Bank (BCQ) warning Qatar residents said, Unlicensed financial institutions and service providers “..

In addition, in this warning, the central bank argued that:

“No financial institution is authorized to provide digital currency exchange, transfer and trading services.”

Finally, BCQ declared it would bring Proceedings For entities that provide digital asset services without a license. to be continued !

Hawaii: In the midst of cryptographic regulations

On the Hawaiian side, the month of May 2022 is more under the sign of cryptographic regulations than ever before. surely, Two major regulatory committeesTrade and Consumer Protection (CPN) and Ways and Means (WAM) Launching a working group.

The CPN and WAM Committee unanimously voted for the creation of a working group.
CPN and WAM Commission Voting Records – Source: Hawaii State Legislature

This group “Blockchain and Cryptocurrency Task Force” The main purpose is Supervise the local ecosystem Explore the potential use of digital assets and cryptocurrencies.Therefore, the working group “Create a master plan to investigate usage and regulation” Digital assets and blockchain technology.

With respect to blockchain technology, the Blockchain and Cryptocurrency Task Force has extended this technology. Recruitment of the private and public sector..

The creation of such a working group is not unprecedented in the cryptographic sphere. A few months ago, Nigeria Announced FinTech unit for Local ecosystem regulation Digital assets.

Have a nice week with Journal du Coin!

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