Regulation

Robinhood’s crypto division recently settled a California investigation by agreeing to pay a $3.9 million fine. The investigation revealed that Robinhood Crypto prevented users from withdrawing their digital assets from 2018 to 2022, leading to issues with transparency and user control over their investments. This lack of access to assets raises concerns about the company’s

The US Securities and Exchange Commission (SEC) recently brought charges against hedge fund Galois Capital Management LLC for its mishandling of a private fund that predominantly invested in cryptocurrency assets. The SEC alleged that Galois Capital failed to adhere to client asset safeguarding regulations, especially regarding cryptocurrencies classified as securities. As a result, Galois Capital

US Securities and Exchange Commission (SEC) Commissioner Mark T. Uyeda recently brought attention to the necessity of developing specialized S-1 registration forms tailored specifically for digital asset securities. During a speech at the Korea Blockchain Week 2024 event, Uyeda underscored the importance of adapting the SEC’s regulatory tools to accommodate the unique characteristics of digital

The recent filing by the US Securities and Exchange Commission (SEC) regarding the FTX bankruptcy case has raised serious concerns over the proposed repayment strategy. The plan to repay creditors through stablecoins or other digital assets has sparked a debate within the regulatory realm, with the SEC reserving the right to challenge these transactions under

Pavel Durov, the CEO of the popular messaging app Telegram, recently found himself in hot water as he was released from prison and placed under judicial supervision in France. The conditions of his release included a hefty €5 million bond, a ban on leaving French territory, and the requirement to report to the police station

Congressman Wiley Nickel, a Democrat from North Carolina, recently took a strong stance against the US Securities and Exchange Commission (SEC), accusing the agency of eroding trust in the regulatory system. His criticism revolves around what he describes as the SEC’s “regulation by enforcement” strategy, which he believes is an abuse of power. Nickel’s concerns

The US Securities and Exchange Commission (SEC) has recently emphasized the urgency for retail investors to have quicker access to fund portfolio data. The current regulatory framework requires registered investment companies to provide periodic portfolio holdings data to the Commission and investors. However, this data is often delayed, impacting a significant portion of the population

The United Kingdom’s regulatory environment is proving to be a major stumbling block for crypto firms looking to operate within its borders. According to a report by the Financial Times, registrations for crypto asset exchanges and custodian wallet providers with the Financial Conduct Authority (FCA) have plummeted by more than 50% in the past three

In recent news, the Nigerian Securities and Exchange Commission (SEC) has made significant strides in granting Approval-in-Principle to two local crypto exchanges, Busha Digital Limited and Quidax. This approval falls under the Accelerated Regulatory Incubation Program (ARIP), which aims to onboard operational firms ahead of the upcoming release of the Rules on Virtual Asset Service

OpenSea CEO Devin Finzer recently made headlines after revealing that the company had been served with a Wells Notice by the US Securities and Exchange Commission (SEC). This notice was issued based on the SEC’s belief that the NFTs (Non-Fungible Tokens) traded on the platform should be classified as securities. Finzer expressed shock and disappointment

France has been a favorable location for crypto businesses in recent years. With companies like Binance, Crypto.com, and Circle establishing their European headquarters in Paris, France has been seen as an attractive base for the crypto industry. The country has offered relatively favorable tax rates, a diverse pool of talent, and a strong sense of

The US Securities and Exchange Commission (SEC) recently took action against crypto lending firm Abra for failing to register its crypto asset lending product, Abra Earn. This failure to register led to the SEC filing settled charges against both Abra and its owner, Plutus Lending LLC, for operating as an unregistered investment company. Stacy Bogert,

The joint statement by Meta CEO Mark Zuckerberg and Spotify CEO Danie Ek highlights the issue of the European Union’s fragmented regulatory structure stifling artificial intelligence (AI) innovation. The CEOs argue that the EU’s AI regulatory framework is riddled with inconsistent implementation, making it challenging for companies in the region to capitalize on the AI

The DeFi Education Fund and the Blockchain Association have joined forces to submit an amicus brief in support of a legal challenge against the Securities and Exchange Commission’s (SEC) Consolidated Audit Trail (CAT). The main issue brought to light by the brief is the significant privacy and security concerns posed by the CAT, especially for

The Indian government is taking steps to introduce comprehensive regulations for the crypto sector, as reported by local media on Aug. 22. The government plans to release a consultation paper in the coming weeks to gather feedback from stakeholders regarding the regulatory framework for digital currencies in India. The Finance Minister’s statement in October 2023

German authorities recently confiscated $28 million in cash and 13 cryptocurrency ATMs in a nationwide operation aimed at curbing unlicensed activities. Spearheaded by the Federal Financial Supervisory Authority (BaFin), this coordinated effort is part of a larger initiative to strengthen oversight within Germany’s rapidly expanding crypto market. The operation, conducted in collaboration with law enforcement

The Nigerian Federal Inland Revenue Service (FIRS) is exploring new legislation to tax the rapidly expanding crypto sector in the country. This initiative, as announced by FIRS Executive Chairman Zacch Adedeji during a session with the National Assembly’s Finance Committees, is set to bring about much-needed modernization to Nigeria’s regulatory framework. According to Adedeji and

At a recent Crypto4Harris event, Senate Majority Leader Chuck Schumer made a strong case for the importance of regulatory clarity in the crypto industry. He emphasized the need for bipartisan collaboration to shape the future of the industry and highlighted Congress’s responsibility to enact common-sense regulations for crypto. Schumer’s goal is to pass comprehensive crypto

There is a sense of anticipation within the cryptocurrency community as Pro-Bitcoin Democrat House Representative and lawyer Ro Khanna expects the Biden administration to release a cryptocurrency regulation roadmap “in the coming weeks.” Following discussions between the White House and industry leaders, Khanna is hopeful that the new regulations will provide a clear path towards

After analyzing the controversial remarks made by Gemini co-founder Tyler Winklevoss regarding the recent “reset” of Vice President Kamala Harris’s crypto stance, it becomes clear that there are serious concerns about the Federal Reserve’s crackdown. Winklevoss’s accusations of a “scam” in response to the Federal Reserve’s enforcement action against Customers Bank raise important questions about

The Securities and Exchange Commission of Thailand (SEC Thailand) has taken a significant step towards advancing the digital asset industry with the launch of the Digital Asset Regulatory Sandbox. This initiative is designed to create a structured environment for businesses to test and develop services related to digital assets. By providing a regulated framework, the

OKX CEO Star Xu recently issued a warning to users about the risks associated with interacting with the sanctioned crypto mixer Tornado Cash. Xu highlighted that deposits from sanctioned entities such as Garantex and Tornado Cash, or withdrawals to these entities could potentially trigger compliance risks, leading to account suspension. OKX, as a platform, follows

There is a lot of buzz surrounding the potential addition of options features to spot Bitcoin exchange-traded funds (ETFs) in the US. Bloomberg ETF analyst James Seyffart suggests that these features may be included as early as the fourth quarter of this year. However, in a different post, Seyffart mentions that the offering could potentially

In a landmark decision, Ripple has been slapped with a $125 million fine by the US Securities and Exchange Commission (SEC) after a four-year legal battle. The news of the fine caused XRP’s price to surge by 18% within minutes, reaching $0.61. District Judge Analisa Torres from the District Court of the Southern District of

A recent bill introduced in the Senate, led by Senator Catherine Cortez Masto and Senator Chuck Grassley, aims to enhance the investigative authority of the US Secret Service in crimes involving cryptocurrency. This bi-partisan effort is crucial in combatting transnational cybercriminal activities that pose a threat to the financial system. The proposed legislation seeks to

The journey of Joey Garcia, the Director and Head of Regulatory Affairs and Public Relations at Xapo Bank, began in 2014 when he was approached by Wences Casares to establish a regulatory framework for cryptocurrencies in Gibraltar. Despite facing initial skepticism and resistance from authorities, Garcia and his team persisted and successfully developed a comprehensive

The Bahamas Securities Commission recently unveiled the Digital Assets and Registered Exchanges Act, 2024 (DARE 2024) in response to the collapse of FTX nearly two years ago. The passage of this new legislation signals a commitment to providing regulatory clarity for the digital assets industry in the country. Christina Rolle, the executive director of the