In the latest regulatory action, Iowa has fined BlockFi over $943k. This was after the crypto firm allegedly sold unregistered securities to the public. In addition, the regulatory agency ordered the exchange to stop making false statements about securities. The Iowa Insurance Division (IID) Fines BlockFi Over $934k The IID is a regulator that handles…
According to report, Oman is working on its first CBDC. Oman Taher bin Salem al-Omari, the Central Bank of Oman’s (CBO) CEO, announced the possibility of a CBDC, the digital Omani. He made the announcement at a conference dubbed “New Age of Banking.” Meanwhile, the country remains skeptical of digital currencies. This is because of…
The Treasury Department in the United States is making progress toward regulating non hosted wallets. This is part of Biden’s strategy to tackle fraudulent activities involving crypto-assets. In 2020, the Financial Crimes Enforcement Network (FinCEN) proposed two rules. The rules ensure it is notified of non hosted crypto transactions above $10,000. Also, it compels banks…
With the recent regulation in the crypto sector, several states have introduced crypto-mining fees. This is due to the high amount of power consumed by crypto miners. In the western part of the United States is Washington. Most of the state’s electricity is provided by hydroelectric power. The state has increased mining fees to reduce…