"A "safe harbor" that made it more difficult for retail investors to distinguish bona fide projects like Blockstack from known scams like OneCoin for a three-year period would likely undo much of the progress towards mainstreaming crypto adoption that has been made to date, which has seen large institutional players like Bakkt or Fidelity Digital Assets enter the space."
Hong Kong will consider incorporating virtual asset service providers and dealers into its AML/CTF regulatory framework. It plans to consult the public on detailed proposals later this year.
Under Peirce's proposal, unveiled during a speech at the International Blockchain Congress in Chicago Thursday, crypto startups would have a three-year grace period from their first token sale to achieve a level of decentralization sufficient to pass through the agency's securities evaluations, including the Howey Test, the famous U.S. Supreme Court assessment.
The miner's rolling inventory (MRI) figure, created by crypto markets data company ByteTree to measure the changes in inventory levels held by these key market participants, remained below 100 percent in January, suggesting a lack of confidence in the 30 percent price rally that month.
Bitcoin's price crash last week has cast a shadow over mining firms, which have spent over half a billion dollars overhauling equipment over the last six months in preparation for the network's next so-called halving.
The Financial Action Task Force issued an official statement encouraging "the use of technology, including Fintech, Regtech and Suptech to the fullest extent possible" in light of social distancing measures, including for digital customer onboarding.
Algorand has linked up with Chainalysis to help bake regulatory compliance into their blockchains. Chainalysis will provide a know-your-transaction solution, allowing its foundation to monitor large volumes of on-chain activity for the native ALGO token and report any suspicious transactions to the authorities. It will not provide a comprehensive solution to "travel rule" compliance, but it will help Algorand pick out transactions that trigger the rule, as well as identifying relevant senders and receivers.
"We have very little solid evidence that harsher anti-money laundering rules reduce the volume of drug trafficking or other major crime. Matt Collins, a global development specialist who works with the Brookings Institution and the World Bank, says he is unaware of a single economic study clearly showing a reduction of crime following new AML rules (though he admits such a study might be difficult to design)."
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