Regulation

In a recent filing by the Securities and Exchange Commission (SEC), it has been alleged that the co-founders of the Terra blockchain project had planned to create fraudulent transactions during the development of the project. This revelation has raised significant concerns about the integrity and trustworthiness of the blockchain industry. The SEC claims that Terraform

In a significant milestone for leading cryptocurrency exchange Coinbase, the company has announced that its international platform has obtained regulatory approval from the Bermuda Monetary Authority (BMA) to offer perpetual futures to non-U.S. retail customers. This latest development opens up new opportunities for Coinbase to tap into the global cryptocurrency market, as it positions itself

Stuart Alderoty, the chief legal officer of Ripple (XRP), recently expressed concerns about Gary Gensler, the Chairman of the U.S. Securities and Exchange Commission (SEC). According to Alderoty, Gensler is expected to make statements that could potentially mislead the public during his appearance before the Senate Committee on Financial Services. In a post on his

The U.S. Securities and Exchange Commission (SEC) recently announced that it would be extending its decision on a major spot Bitcoin exchange-traded fund (ETF), causing further delays and uncertainty in the market. This setback specifically affects the ARK 21Shares Bitcoin ETF, which is eagerly awaited by industry players. The delay in the SEC’s decision has

The U.S. Securities and Exchange Commission (SEC) has recently filed an objection to part of Celsius’ reorganization plan that involves the crypto exchange Coinbase. Celsius, a bankrupt crypto firm, intends to have Coinbase act as a distribution agent to return funds to affected former users. However, the SEC argues that Coinbase’s role exceeds that of

In response to the JPEX debacle, the Securities and Futures Commission (SFC) in Hong Kong has implemented new measures to improve investors’ education and protection in the virtual asset trading industry. The SFC announced its plan to publish a comprehensive list of licensed Virtual Asset Trading Platforms (VATPs) on its website, encompassing licensed platforms, applicants,

The conclusion of the G20 summit brings some much-needed optimism to India’s crypto ecosystem. With the endorsement of the recommendations from the IMF and FSB as a Synthesis paper, the world’s most influential economies are taking a clear stance on the policy and regulatory framework for crypto assets. In this article, we will analyze the

Regulators in Poland have recently initiated a case against OpenAI, a leading artificial intelligence company, over claims of mishandling user data. The Personal Data Protection Office in Poland confirmed that it is considering a complaint filed by an individual regarding OpenAI’s widely-used ChatGPT app. The complainant alleges that OpenAI has been handling data in an

Ripple CEO, Brad Garlinghouse, along with other top executives of the company, recently visited Washington, D.C. to meet with members of Congress. The purpose of their visit was to discuss the regulatory clarity of the cryptocurrency industry, which continues to face uncertainty. In a social media post, Garlinghouse highlighted the significance of engaging with elected

The Securities and Exchange Commission (SEC) has been closely monitoring the cryptocurrency industry, expressing concerns about the lack of regulation. With its view that many cryptocurrencies are securities, subject to federal securities laws, the SEC has taken a tough stance, resulting in increased scrutiny and enforcement actions. However, this has sparked debates about whether the

The New York State Department of Financial Services (NYDFS) has recently introduced new requirements for virtual currency business entities operating in the state. These rules, announced on September 18, primarily focus on cryptocurrency delistings. The aim of these regulations is to provide better protection for consumers and ensure the safety and soundness of the market.

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