Global Crypto Regulation Grows While US Remains Tight – Blockchain News, Opinion, TV and Jobs
By Marcus Sotiriou, Market Analyst at a publicly listed digital asset broker GlobalBlock (TSXV:BLOCKS).
As Bitcoin consolidates around $24,000, there has been progressive progress with crypto regulation globally. Firstly, global payments giant Ingenico, which has 40 million terminals in 37 countries, now accepts crypto payments in France as it integrates a digital asset platform. In addition, personal Bitcoin wallets will not be banned by the new EU anti-money laundering law, so people will be allowed to legally participate in self-custody in the EU – a huge win for crypto enthusiasts and digital asset platforms that exercise self-custody. Moreover, the Mayor of Lugano in Switzerland has revealed that in March they will be launching a spring school program for Bitcoin education.
In the US, a congressman has introduced legislation that would prevent the Federal Reserve from issuing a CBDC – whether or not this law achieves this remains to be seen, but I think it is a step in the right direction for US residents, with a lack of sovereign rights. brought by CBDC.
This progress contradicts recent US regulatory action, as New York and Federal financial regulators have opposed a $1.02 billion deal by Binance.US to buy Voyager assets. Bankrupt digital asset platform Voyager previously argued that the NYDFS’s objections were “hypocritical” because regulators themselves limited the ability to distribute crypto.
But the positive developments in other regions, as noted above, are a reminder that crypto is a global asset class and the US is at risk of being left behind.
