The U.S. Securities and Exchange Commission is beefing up the enforcement powers of its investigation teams, signaling a more robust approach to regulation during the Biden administration.
French regulator wants a European body to regulate digital currencies Business
The top French financial markets regulator wants the European Union to change the way it oversees the digital currency and blockchain industry. It proposed a unified approach in the region, with one body in charge of formulating regulations for the rapidly growing industry.
In a recent speech, the chair of the Autorité des Marchés Financiers Robert Ophèle spoke on fintech and regulation, touching on the need to regulate blockchain and digital currencies. He believes that the EU region needs to begin regulating the industry soon as it’s growing at a parabolic rate.
The Financial Sector Conduct Authority said it’s receiving a large number of complaints from South African investors who have lost their savings through digital currency scams.
Ukraine plans nuclear-powered block reward mining facility Tech
The government of Ukraine is contemplating investing in a new block reward mining facility, to take advantage of an excess of nuclear power being generated in the country.
Ukraine’s Ministry of Energy is reportedly planning the mining center, which could consume as much as two to three gigawatts of energy per day.
The deputy energy minister for digital development, Yevhen Vladimirov, met with ministry officials, as well as private sector partners, to discuss the early stage proposals. State-owned nuclear energy firm Energoatom and mining hardware manufacturer Hotmine were also invited to participate in the talks.
Switzerland ushers in new era as blockchain law takes effect Business
Switzerland has ushered in a new era for the digital assets industry after the tokenized securities law took effect on February 1. Known as the Blockchain Act, it sets a firm legal basis for digital asset exchange and tokenization while tackling the threat of digital currency money laundering.
The Act was passed in September 2020, with the Swiss legislators striving to keep up with their neighbors Liechtenstein which was among the first to develop digital currency regulations. It will be implemented in two phases this year. The first, which centers on company law reforms, took effect on February 1. Financial market upgrades will follow in August as part of the second phase.