Tel Aviv is hosting Cryptocurrency Conference

Zioni Pillersdorf Phillip Advocates is organizing a conference on law and regulation in cryptocurrency domain on April 26 in Israel
12 April 2018   809

The capital of Israel is selected for Cryptocurrency Conference that will occur on April 26 at Hotel Dan Panorama venue. This conference is going to be all about law and regulation in cryptocurrency world. It is dedicated to practical and theoretical issues that need to be addressed in the near future. Leading figures from around the globe will discuss the cryptocurrency ecosystem. The topics to be discussed include general overview of cryptocurrency regulation, legal challenges and regulations of exchanges, crypto wallets, brokers etc., ICOs regulations and legal challenges, taxation of cryptocurrencies and ICOs, cryptocurrencies and banks.

The agenda is as follows:

  • 8:00 AM | Registration and coffee
  • 8:45 AM | General overview of cryptocurrency regulation
  • 9:45 AM | Legal Challenges and Regulations of Exchanges, Crypto Wallets, Brokers etc.
  • 11:00 ~ 11:30 AM | Coffee break
  • 11:30 AM | ICOs – Regulations and Legal Challenges
  • 1:00 ~ 2:00 PM | Lunch break
  • 2:15 PM | Taxation of Cryptocurrencies and ICOs
  • 3:30 PM | Coffee Break
  • 3:45 PM | Cryptocurrencies and Banks – "Friends or Foes"

The event is sponsored by Bits of Gold and Moneta International.


Financial Establishments warned by UK Central Bank

The Bank of England’s Prudential Regulation Authority (PRA) reminded financial institutions`CEOs that activity with crypto-assets may cause “reputation risks”
29 June 2018   742

In a letter dated June 28th to CEOs of banks, insurance firms, and designated investment companies, PRA Deputy Governor Sam Woods briefs leaders to act in correspondance to regulatory rules and work with the PRA to reveal any sort of information the financial watchdog would deem as important.

In his letter Woods writes how the cryptocurrency industry has experienced fast growth but is filled with “high price volatility and relative illiquidity.” He claims it is vulnerable to nefarious activities like money laundering and terrorist financing. The letter approves: “crypto-assets should not be considered as currency for prudential purposes,” but discussions are still going on about the prudential treatment of crypto-assets.

The letter points out risk strategies and management systems the PRA considers as appropriate in demands to cryptocurrency. The members and senior leadership demand PRA approved individual to sign off on any sort of risk assessment procedure a firm has “for any planned business direct exposure to crypto-assets and/or entities heavily exposed to crypto-assets.”

The PRA as well recommends businesses to conduct their necessary diligence before exposure to crypto-assets and directs firm leadership to rely on expert voices to assess risk. Finally, the watchdog awaits firms to keep governing contacts abreast about any cryptocurrency-related activity or planned exposure and give a risk estimation about supposed exposure.