Regulation

The United Arab Emirates (UAE) has taken a significant leap forward in its cryptocurrency regulation by updating its Anti-Money Laundering (AML) and sanctions rules. With these new provisions, the UAE’s Financial Services Regulatory Authority (FSRA) aims to address the evolving challenges of financial transactions in the digital age. This move aligns the UAE with international

U.S. Senator Roger Marshall recently disclosed that the American Bankers Association played a role in formulating the Digital Asset Anti-Money Laundering Act, which has generated significant criticism from the cryptocurrency community. During a speech at the Parliamentary Intelligence-Security Forum, Senator Marshall revealed that the assistance from the American Bankers Association was sought to ensure that

The Central Bank of Ireland has granted a license to Ripple’s Irish subsidiary, Ripple Markets Ireland Limited, as a registered Virtual Asset Service Provider (VASP). This approval allows Ripple to offer specific digital asset services within Ireland and expand its services to clients across the European Economic Area. The company is hopeful that the highly

BlackRock, one of the prominent asset managers in the financial industry, has submitted a new amendment to its S-1 filing for the iShares Bitcoin Trust – a spot Bitcoin ETF. This filing, made on December 18, brings several noteworthy changes and provides insights into recent discussions between BlackRock and the U.S. Securities and Exchange Commission

The UK Treasury has recently taken a significant step forward in creating a conducive environment for innovation in the crypto industry through the introduction of Digital Securities Sandbox (DSS) regulations. These regulations, aimed at overcoming existing regulatory obstacles, will enable companies and regulators to test new technologies in financial markets, particularly distributed ledger technology (DLT)

Revolut, a popular financial technology company, has recently announced a temporary halt to its cryptocurrency trading services for its business clients in the United Kingdom. The decision comes in response to projected regulatory modifications set to be implemented in early 2024. This move reflects Revolut’s commitment to adapt its business crypto offerings to meet the

The recent actions undertaken by Tether, the world’s largest stablecoin issuer, have sparked discussions and raised concerns regarding the use of stablecoins for illicit activities. Tether recently froze 326 wallets containing $435 million worth of USDT in cooperation with various law enforcement authorities, including the U.S. Department of Justice (DOJ), the Federal Bureau of Investigation

The U.S. Securities and Exchange Commission (SEC) has recently denied a petition from the popular cryptocurrency exchange Coinbase. The denial comes after Coinbase’s request for the development of new rules regarding digital asset securities through the SEC’s formal rulemaking process. This decision marks the end of nearly 18 months of ongoing discussions between Coinbase and

The Securities and Exchange Commission (SEC) is set to implement new disclosure requirements for material cybersecurity incidents that will impact publicly listed crypto companies in the United States. These rules aim to provide investors with timely and consistent information about the risks associated with cybersecurity. While the comment period allowed for modifications to address compliance

The Financial Accounting Standards Board (FASB) has recently made a groundbreaking decision, officially adopting new accounting rules for Bitcoin. This significant shift in the financial landscape for corporations introduces fair value accounting for Bitcoin, aligning its treatment with other financial assets. Effective for fiscal years beginning after December 15, 2024, this change marks a crucial

Binance has taken decisive action in response to the ongoing case initiated by the U.S. Securities and Exchange Commission (SEC). On December 12th, the cryptocurrency exchange submitted two crucial filings that aim to dismiss the case against the company and its former CEO, Changpeng Zhao. These filings make a strong argument against the SEC’s claims

In a recent conversation with Bloomberg, U.S. Securities and Exchange Commission (SEC) chair Gary Gensler expressed his skepticism towards spot Bitcoin exchange-traded funds (ETFs). Gensler, who has recently introduced new rules to reduce risk in the U.S. Treasury market, highlighted the significance of Treasury markets in funding the government and conducting monetary policy. While acknowledging

The Commodities Futures Trading Commission (CFTC) Chairman, Rostin Behnam, recently stated that most cryptocurrencies should be treated as commodities under existing laws. However, he emphasized the urgent need for updated regulations that account for the technological advancements in the digital asset space. In an interview on CNBC’s Squawk Box, Behnam expressed his concerns about the

In a significant move to protect virtual asset investors and regulate the rapidly growing cryptocurrency industry, the Korean Financial Services Commission (FSC) has unveiled a comprehensive set of regulations. The Act on the Protection of Virtual Asset Users is set to come into effect on July 19, 2024, and aims to tackle the challenges faced

Senator Elizabeth Warren (D-MA) recently announced an expanded coalition of Senate support for a bipartisan bill aimed at mitigating illicit finance risks associated with cryptocurrencies. The Digital Asset Anti-Money Laundering Act seeks to bring the crypto ecosystem into compliance with anti-money laundering frameworks governing the traditional financial system. While the bill aims to address concerns

The European Union (EU) has emerged as a frontrunner in the race to regulate artificial intelligence (AI) by reaching a provisional agreement on the world’s first comprehensive regulation of AI. The agreement, hailed as a “historical achievement” by Carme Artigas, the Spanish Secretary of State for digitalization and AI, strikes a delicate balance between encouraging

Bitcoin has been the talk of the town in the financial world, and the demand for a Bitcoin exchange-traded fund (ETF) has been growing rapidly. The U.S. Securities and Exchange Commission (SEC) is at the forefront of regulating such offerings. In a recent disclosure, the SEC revealed its meetings with Fidelity and BlackRock, two major

The cryptocurrency exchange giant Binance has recently withdrawn its application for certain operations in Abu Dhabi. The Abu Dhabi Global Market (ADGM) regulator confirmed that the withdrawal took effect on November 7, 2023. This decision marks a significant shift in Binance’s strategy, as the company seemed to be focusing on expanding its presence in the

Legislation introduced to New Jersey’s general assembly by Assemblyman Herb Conaway Jr. on November 30th raises concerns about the classification of cryptocurrencies sold to institutional investors. The proposed bill specifically categorizes virtual currencies issued and sold to institutional investors as securities, which may have far-reaching effects on the industry. This article aims to analyze the

Terraform Labs, currently embroiled in a securities lawsuit with the U.S. Securities and Exchange Commission (SEC), has made a bold move by requesting summary judgment to bring the case to a swift conclusion. The defense argues that the SEC misrepresented facts in a separate case against DEBT Box, bringing into question the regulatory body’s credibility.

Asset managers Bitwise and BlackRock have recently submitted updated filings to securities regulators for their respective spot Bitcoin exchange-traded funds (ETFs). These filings address concerns raised by the U.S. Securities and Exchange Commission (SEC) in recent discussions with ETF applicants. Bloomberg ETF analyst Eric Balchunas predicts a favorable outcome, with a 90% chance of approval

U.S. District Judge Robert Shelby has issued a stern warning to attorneys from the Securities and Exchange Commission (SEC) over potential sanctions for their involvement in “misleading” court proceedings in a lawsuit against cryptocurrency firm Debt Box. According to court filings, the SEC obtained a temporary restraining order against Debt Box based on statements that

Spanish authorities have detained Alejandro Cao de Benos, believed to have aided Ethereum developer Virgil Griffith in violating U.S. sanctions and traveling to North Korea. Reports indicate that Cao de Benos was apprehended in Barcelona under a false identity and was on his way to Madrid via train. The arrest was made on November 30

Hong Kong, a city renowned for its dynamic financial landscape, is considering groundbreaking changes in its digital asset approach. In a recent letter, Mr. Chen Zhihua, President of the Hong Kong Securities and Futures Association, proposed introducing an “Initial Coin Offering (ICO) mechanism” in Hong Kong. This innovative suggestion aims to drive Hong Kong’s economic

In a significant development in the ongoing SEC case against Terraform Labs, a U.S. court has ruled that Jump Crypto, a “third party,” will be allowed to submit certain information to the court in confidence. This ruling, according to an order made on November 28, grants Jump Crypto the opportunity to present its evidence discreetly.

Spain’s Tax Administration Agency, Agencia Tributaria, has issued an update mandating that Spanish citizens must disclose their cryptocurrency holdings exceeding €50,000 (about $55,000) held on foreign platforms for tax purposes. Starting in January of next year, individuals and businesses impacted by this directive will be required to officially report their crypto assets held on non-Spanish

The recent fraud scandals involving crypto exchange platforms in Hong Kong, namely JPEX and Hounax, have raised concerns about the efficacy of regulatory oversight in the city’s virtual asset sector. Despite these incidents, Hong Kong’s financial regulators have decided to retain the grace period for crypto firms, allowing them to continue operating without a license