Regulation

In a significant development, Senator Elizabeth Warren’s bipartisan cryptocurrency anti-money laundering bill is gaining support from an increasing number of senators across party lines. The bill, known as the Digital Asset Anti-Money Laundering Act, aims to enhance regulatory oversight within the emerging cryptocurrency industry. It seeks to address existing loopholes and align the digital asset

Recent statements from Nasdaq executive Giang Bui suggest that an early dismissal of BlackRock’s planned spot Bitcoin exchange-traded fund (ETF) should not significantly impact its eventual success. Bui emphasizes that the rejection primarily stems from regulatory procedural issues rather than the substance or potential viability of the product. These comments provide valuable insights into the

The European Parliament has taken a significant step in regulating the cryptocurrency market by approving DAC8, a measure that introduces tax reporting requirements for crypto transactions across the European Union (EU). With an overwhelming vote of 535 in favor, 57 against, and 60 abstentions, the proposed rule has cleared its final legislative hurdle and is

The new financial promotions regulations imposed by the UK Financial Conduct Authority (FCA) have raised concerns among the cryptocurrency community. According to Delphi Labs general counsel, Gabriel Shapiro, the majority of crypto firms are likely to face challenges in complying with these regulations. While centralized exchanges and some well-established decentralized finance (DeFi) projects might find

In a recent report, it has been revealed that Luna, a subsidiary of Digital Currency Group (DCG), will be temporarily pausing some of its services in the United Kingdom. This decision comes as a response to new regulations set by the Financial Conduct Authority (FCA), which will impose restrictions on how cryptocurrency companies can advertise

The G20 leaders are making significant strides in the development of a Crypto Asset Reporting Framework, as reported by The Times of India on September 9th. This framework aims to facilitate the collection and sharing of information among G20 member countries regarding the use of cryptocurrencies and digital assets. The primary objective is to prevent

The U.S. Commodity Futures Trading Commission (CFTC) has recently made significant progress in a case involving Mirror Trading International Proprietary Limited (MTI). The CFTC announced on September 7th that a South African company, MTI, has been found liable for multiple types of fraud. As a result, the company has been ordered to compensate the numerous

The International Monetary Fund (IMF) and the Financial Stability Board (FSB) have released a comprehensive report commissioned by G20 under India’s leadership. The report focuses on regulating crypto-assets such as Bitcoin and stablecoins. It aims to address the financial stability and integrity risks associated with the rapid growth of these digital assets. The IMF and

The South Korean government is taking a proactive approach to combat North Korea’s use of cryptocurrency assets for its weapons program. According to a report by Korea JonngAng Daily on September 4th, the government plans to submit a bill that will enable it to track and freeze crypto assets linked to North Korea. The bill

The government of the United Kingdom has recently released a statement outlining its objectives for the upcoming AI Safety Summit, scheduled to take place on November 1-2 at Bletchley Park. The Department for Science, Innovation & Technology is aiming to bring together various stakeholders, including key countries, technology organizations, academia, and civil society, to discuss

The recent court ruling against the Securities and Exchange Commission (SEC) in the case of Grayscale Investments has led JP Morgan analysts to believe that the SEC might be compelled to approve the spot Bitcoin exchange-traded fund (ETF) applications submitted by multiple firms. This potential development could have significant implications for the crypto industry. In

Cryptocurrency has rapidly evolved, and with it, the need for legal clarity has become crucial. The recent legal battles between major crypto exchanges and regulatory authorities highlight the significance of obtaining comprehensive legal opinions for token projects. In this article, we will explore the importance of legal opinions in crypto tokens and how they have

Former SEC chair, Jay Clayton, recently shared his thoughts on the potential approval of a Bitcoin Exchange-Traded Fund (ETF) during an interview with CNBC. He acknowledged that the SEC faces a difficult challenge in regulating cryptocurrencies, especially considering the evolution of the crypto market over the years. Clayton highlighted the SEC’s initial struggle with non-compliant

Worldcoin, a digital identity project, recently made headlines by claiming to have verified an impressive number of Argentinians in a single day. According to a blog post published on August 31st, the project verified approximately 9,500 Argentinians using its World ID platform. This surge in popularity led to the World App briefly claiming the top

The Securities and Exchange Commission (SEC) Chairman Gary Gensler is no stranger to controversy. As he prepares to testify before Congress this September, the debates surrounding his approach to digital asset regulation have intensified. With lawmakers expressing concerns over the lack of clear guidelines and Gensler’s aggressive enforcement, the future of cryptocurrency regulation in the

In a groundbreaking ruling on August 29, 2023, the United States Court of Appeals for the District of Columbia Circuit overturned the Securities and Exchange Commission’s (SEC) order, granting a long-awaited victory to Grayscale Investments LLC in its legal battle over the conversion of its Bitcoin Trust into a spot Bitcoin exchange-traded fund (ETF). Grayscale’s

In a recent development, three prominent U.S. representatives have voiced their concerns over the stablecoin and crypto rules proposed by the Federal Reserve. This objection comes from the Republican party members, namely Patrick McHenry, Chairman of the House Financial Services Committee; French Hill, Chairman of the Committee on Financial Services Subcommittee on Digital Assets; and

The U.S. economy has experienced robust growth in recent years, leading to increasing concerns about inflationary pressures. Federal Reserve Chair Jerome Powell emphasized the need for additional interest rate increases at the Jackson Hole Economic Symposium. This article will explore the uncertainties surrounding the economic outlook and the potential implications of further restrictive monetary policies.

U.K. regulators are taking steps to ban cold calls for consumer financial services as part of the country’s Treasury Fraud Strategy. The crypto sector is expected to be one of the industries affected by this ban. In a recent consultation paper from the U.K. Treasury, public input is being sought to understand the potential impacts

Coinbase, one of the leading cryptocurrency exchanges, has recently made a significant stride in the evolution of crypto regulation in the United States. The platform has secured regulatory approval from the National Futures Association (NFA) to operate as a Futures Commission Merchant (FCM), becoming the first crypto-native platform to offer both spot crypto trading and

The Securities and Exchange Commission’s (SEC) pending decision on Grayscale Investments is stirring significant anticipation within the cryptocurrency community. The implications of this decision could extend far beyond Grayscale itself, potentially shaping the approval of Bitcoin exchange-traded products (ETPs) in the future. Bloomberg’s Senior ETF Analyst Eric Balchunas suggests that the verdict may be disclosed

The Securities and Exchange Commission (SEC), under the leadership of Chairman Gary Gensler, faces significant regulatory concerns regarding the approval of a Bitcoin spot ETF. Former SEC attorney John Reed Stark suggests that the issue of crypto regulation has become a partisan divide within the SEC, marking a significant shift from the initial bipartisan consensus

U.S. Senator Cynthia Lummis has recently come out in support of Coinbase’s motion to dismiss the U.S. Securities and Exchange Commission (SEC) lawsuit. In her amicus brief filed on August 11, Lummis argues that the court should dismiss the case and defer the development of appropriate crypto regulations to Congress. As a known advocate for

The U.S. Securities and Exchange Commission (SEC) recently announced a settlement of $24 million with Bittrex and its former CEO, William Shihara. The SEC had made several allegations against Bittrex, accusing the company of instructing coin issuers to remove statements that could potentially raise regulatory concerns. Gurbir S. Grewal, Director of the SEC’s Division of

Bitstamp, a prominent cryptocurrency exchange, announced on August 8 that it would suspend U.S. trading for several cryptocurrencies that have been classified as securities in recent legal cases involving other exchanges like Binance and Coinbase. The affected tokens include Axie Infinity (AXS), Chiliz (CHZ), Decentraland (MANA), Polygon (MATIC), Near Protocol (NEAR), The Sandbox (SAND), and

Cryptocurrency exchange Binance has made a significant move in the world of digital assets by becoming the first licensed crypto platform in El Salvador. The Central American country has been known for its friendly stance towards the crypto industry, with the adoption of Bitcoin as legal tender in 2021. Binance’s acquisition of two licenses from

The Federal Reserve Board has recently unveiled the Novel Activities Supervision Program, a groundbreaking initiative aimed at overseeing the rapidly advancing technologies within the banking sector. This program encompasses a wide range of areas, including crypto-assets and blockchain technology. By aligning financial innovation with regulatory oversight, the Federal Reserve aims to strike a delicate balance