UK s finance ministry opens consultation on regulating crypto and stablecoins
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The Treasury wants to regulate the crypto space like traditional payment services.
The consultation is open until March 21.
Her Majesty s (HM) Treasury, the U.K. s finance ministry, has opened a consultation on regulating crypto-assets and stablecoins to support innovation and protect consumers.
The Treasury said the rise of crypto and stablecoins could pose similar financial stability and consumer risks as traditional regulated payment systems, and hence regulating the space is necessary. We will take an agile, risk-led approach to regulation, rooted in the principle of same risk, same regulatory outcome, said John Glen, an MP and Economic Secretary to the Treasury. In other words, the government wants to ensure a level playing field and reduce opportunities for regulatory arbitrage.
December 23, 2020, 10:14PM EST
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3 min read
The price of XRP has been in a tailspin since news broke that the Securities and Exchange Commission would sue Ripple for conducting an initial coin offering of the digital asset.
In the wake of the suit, which Ripple has described as an affront to the entire cryptocurrency market, a number of firms have begun cutting services tied to XRP, which Ripple has tried for years to get banks to adopt. The suit was released just a day before SEC chairman Jay Clayton announced he would resign.
Now, a former commissioner of the regulator is crying foul, describing the suit as unprecedented, given the upcoming change in power among the SEC s top ranks and presidential administration next month. In a letter to Clayton obtained by The Block, former SEC commissioner Joseph Grundfest said: no pressing reason compels immediate enforcement action.
December 23, 2020, 5:30PM EST
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1 min read
The White House has released a statement on regulatory considerations for stablecoins and it includes the potential for limitations on multi-currency stablecoins.
The statement comes from the President s Working Group on Financial Markets, which is a Treasury-centric working group that makes recommendations to the president and federal regulators.
The group highlighted the importance of anti-money laundering and counter financial terrorism measures, including on-chain know-your-customer (KYC) verification among all parties, even unhosted wallets. This comes after the Financial Crimes Enforcement Network unveiled a proposed rule that would also create heightened KYC requirements for transactions between money service businesses and unhosted wallets.
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The firm expands capital base, team and access to best of breed software companies amidst growing investment opportunity
NEW YORK, PALO ALTO, Calif. and ZURICH, Germany, Dec. 23, 2020 /PRNewswire/ Evolution Equity Partners [https://evolutionequity.com/] expands cybersecurity investment platform in 2020 as a leading investor in the segment. The firm grows its capital base, AUM, team and partnerships with best of breed software companies as the cybersecurity investment opportunity rapidly grows.
Investments in 2020
In 2020, Evolution activated a $250m Fund after fully investing a $125m Fund in 2019 and increased AUM to over $675m. The firm completed 8 investments this year including:
Evolution Equity Partners Expands Cybersecurity Focused Investment Platform | ANP Pers Support perssupport.nl - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from perssupport.nl Daily Mail and Mail on Sunday newspapers.