The previous week was again marked by a number of attacks on crypto-currencies on the part of regulators.

One of the largest banks in Canada, the Bank of Montreal began blocking its clients' crypto-currency transactions on debit and credit cards and through online banking. Faced with such a blocking one client posted on Reddit the photo of the letter with the official position of the financial institution. The administration of the bank explained its actions only with good intentions, of course. "To protect the security of our customers and the bank from the volatile nature of crypto currency, users attempting to perform crypto-currency transactions using a credit card, debit card or online bank will receive a message stating that this is not possible. The new policy comes into force immediately, "the letter says. However, just a few days ago, the Bank of Montreal announced plans to provide banking services to the new brokerage platform Shorcan Digital Currency Network, which will work with crypto-currencies. Official comments on this somewhat ambiguous situation from the bank has not yet followed.

Meanwhile, in Japan, the Financial Services Agency of Japan (FSA) officially announced the issuance of a warning to the Binance Bourse Exchange on the need to obtain a license to continue working in the country. Binance is one of the world's largest crypto-exchange exchanges, while Japan also holds a leading position in the development of the bitcoin industry. Therefore, it is not surprising that immediately after the news spread, the price of the first crypto currency sharply went down. Earlier, after the break-in of Coincheck in Japan, the requirements for working in the territory of the country's crypto-exchange exchanges were significantly tightened. So, recently FSA suspended the work of local trading platforms FSHO and Bit Station, giving them 30 days to improve security systems.

The authorities of Kazakhstan decided not to lag behind the general trend. The National Bank of Kazakhstan has prepared amendments to the legislation aimed at tightening regulation of bitcoin turnover and other crypto-currencies in the country. In particular, the regulator intends to prohibit the purchase and sale of KZT for tenge, the activity of exchanges in this segment, as well as any kinds of mining. This position of the regulator is related to the need to protect the rights of owners of crypto-currencies. The rigid line of the Central Bank in respect of crypto-currencies is supported by the majority of state bodies of Kazakhstan, since crypto-currencies are "an ideal tool for money laundering and for avoiding taxation".

Еhe head of the Securities and Exchange Commission (SEC) Jay Clayton about the positive impact of regulation on the trading platforms said . In his opinion, the work of the trading platforms for crypto-currencies can be improved by applying some principles of stock market regulation to them. Clayton refers to examples of such principles as supervision and the policy of best execution of transactions. As for the ICO, the head of the SEC is of the opinion that the same requirements as for securities should apply to the sphere of primary bids of coins. Head of the SEC for Trading and Markets Brett Redfirn is convinced that the crypto industry is in its infancy and still resembles the Wild West. Also Redfirn singled out a number of topical, in his opinion, problems of this market. Among them, of course, were fraud, market manipulation, theft, cyber security problems, as well as terrorism financing and money laundering.

 

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