Hong Kong’s SFC puts up united front with police to monitor crypto platforms
The Hong Kong Securities and Futures Commission (SFC) has taken a significant step toward combating illegal activities within Virtual Asset Trading Platforms (VATPs). In partnership with the Hong Kong Police Force (HKPF), the SFC has formed a specialized working group, an initiative that was set in motion following a top-level meeting between the two organizations […]
Analysts tackle major crypto myths for regulators as digital asset market regulation intensifies
Since the unveiling of Bitcoin ten years ago, and the subsequent emergence of Blockchain technology and other cryptocurrencies, a lot has happened, contributing to the industry’s bad reputation, crippling most investors with fear, uncertainty, and doubt (FUD) of investing in the asset class. As the digital asset market continues its unprecedented growth trajectory, it has […]
U.S. and Philippines unite against crypto – Details
In a strategic move to counter the rising tide of financial crimes in the crypto world, the Philippines Securities and Exchange Commission (SEC) has enlisted the support of the United States and the Asian Development Bank. Their combined mission? To hone their capabilities and tools to prevent fraud and scams, especially those rampant in the […]
Germany pushes for universal crypto oversight
Amid the accelerated embrace of cryptocurrency regulations within the European Union, a pivotal voice emerges from the heart of Europe – Germany. The nation, known for its economic leadership, is making it clear: localized rules aren’t enough. It’s time to bring the world under a consistent and all-encompassing cryptocurrency regulatory umbrella. The EU’s Leap and […]
The New York DFS updates its regulation guidelines
The New York Department of Financial Services announced the new rules on listing various cryptocurrencies on its green list. In the much-anticipated announcement, the NYDFS announced it would be delisting three tokens: DOGE, LTC, and XRP. Tokens still on the list include Ether and Bitcoin. Through its X platform (Formely Twitter), the department announced that […]
What is the Blockchain Association and its achievement in the sector so far?
The Blockchain Association marks its fifth anniversary this month. The trade association comprises 114 big companies, such as Kraken, Pantera, and Coinfund. According to a press release today, the association’s mission is to promote the potential of blockchain technology, advance cryptos’ future in the United States, and shape policy that ensures the same. Crypto enthusiasts […]
Gary Gensler doubles down on crypto chockpoint 2.0
In a move signaling neither retreat nor compromise, SEC Chairman Gary Gensler is doubling down on his criticisms of the crypto industry ahead of his much-anticipated Senate testimony. Known for his defiant stance against what he perceives as regulatory loopholes and grey areas in the rapidly evolving crypto landscape. Gary Gensler is expected to worsen […]
G20 advances global crypto framework – Details
The G20’s audacious move toward standardizing the wild west of crypto continues. Dominating headlines from their recent summit in New Delhi, leaders of these powerhouse economies announced a fervent push for a globally cohesive approach to cryptocurrency assets. An Unapologetic Move Towards Transparency The G20’s drive isn’t just another lofty political aspiration; it’s a definitive […]
UAE third highest country globally in terms of crypto adoption beating Hong Kong and USA
According to Henley & Partners Crypto Wealth report 2023, in terms of crypto adoption the UAE comes in third globally after Singapore and Switzerland, scoring more than Hong Kong and USA. As per the report the UAE’s public adoption score was 7.1 out of 10, equal to that of Singapore which topped the list. In […]
New Zealand urges caution on swift crypto regulation
As the thundering waves of cryptocurrency fervor sweep across the globe, nations grapple to catch up, drafting regulations and implementing controls to harness this digital tide. New Zealand, however, charts a different course, urging global peers to proceed with caution rather than diving headfirst into the turbulent crypto waters. Walking the Tightrope: Balancing Innovation and […]
Global crypto regulation takes a different turn in Q2 2023
Just when investors thought they had the crypto rulebook figured out, Q2 2023 swoops in with a plot twist even the most seasoned regulators didn’t see coming. It’s as if crypto regulation entities such as the SEC decided to trade its traditional playbook for a pair of roller skates – unexpected, a bit wobbly, but […]
Indian Supreme Court questions Union government on crypto regulation delays
The Indian Supreme Court (SC) has ordered the government to clarify whether it intends to create a specialized federal body to investigate cryptocurrency-related criminal activity cases. The concerned court pointed out the lack of legislation for digital currencies and a qualified agency to manage such issues. Supreme Court asks Union government to clarify crypto regulation […]
Brian Armstrong calls on U.S. lawmakers to sign on crypto bills
In a drive to press forward the growth of the cryptocurrency industry, Brian Armstrong, the CEO of Coinbase, is turning the heat up on U.S. lawmakers. He’s called for action, using his influential position to push for the approval of two crucial cryptocurrency bills. This urging is not without substance or reason but stems from […]
Congressional committee set to vote on crypto bills
An air of anticipation wraps Capitol Hill as the House Financial Services Committee gears up to cast votes on a host of crypto bills. This significant development paints a hopeful future for the digital asset industry as the U.S. legislature is finally drawing a regulatory net around cryptocurrencies – a movement that is seen as […]
US GAO calls for stronger interagency cooperation in crypto regulation
The United States Government Accountability Office (GAO), a Congressional watchdog agency, has published a report on the legal framework for using blockchain in finance that it finished in June. Reps. Maxine Waters and Stephen Lynch, the chair and ranking member of the House Financial Services Committee, respectively, sought the 77-page report before the midterm elections. […]
House Republicans propose crypto regulatory framework
The dawn of an epoch-making legislation aimed at putting the fast-paced crypto sector under a regulatory microscope is upon us, with US lawmakers putting forward the Financial Innovation and Technology for the 21st Century Act. Advocating for a rigorous structure to guard consumers, stimulate ingenuity, and secure America’s dominance in financial and technological sectors, this […]
French experts weigh in on SEC’s stumbling crypto litigation approach
Bonjour!! According to recent reports, French officials have taken pride in their crypto-ready legislation, which contrasts with the SEC’s halting enforcement campaign. In addition, French officials are interested in the next iteration of Web3 gaming regulations. In the rapidly evolving crypto landscape, legal matters surrounding digital assets have become a pressing concern for regulatory authorities […]
Financial Stability Board introduces crypto regulations for global markets
The Financial Stability Board (FSB), the international organization entrusted with overseeing the global financial system, has introduced an encompassing regulatory framework for cryptocurrencies. This pivotal announcement results from extensive feedback and critical analysis of the past year’s crypto-asset market events. Also, the new regulations seek to ensure the integrity of the global financial system by […]
Namibia embraces crypto legislation
Namibia, a Southern African nation, is making headway in establishing its position on the digital financial landscape. The National Assembly recently approved a pivotal bill, the objective of which is to legalize and govern virtual assets, such as cryptocurrencies. Now in the stage of being officially enacted, the law is a cornerstone for Namibia’s journey […]
UK’s FCA reminds crypto firms of October marketing compliance deadline
The United Kingdom’s Financial Conduct Authority(FCA) has released an official notice asking all crypto asset firms marketing to users to ensure compliance by October 2023. Crypto companies operating within the FCA’s regime have only four routes when it comes to marketing to be compliant with the regulatory body, according to the notice. Crypto firms need […]
Here is UK Law Commission’s views on crypto regulation
The burgeoning importance of digital assets in our modern world cannot be overstated. Their use has expanded far beyond mere value representation, serving as modes of payment and being linked to various rights or things. Their inherent flexibility and the technologies surrounding them have significantly transformed how we perceive property and property rights. Harnessing flexibility […]
New Zealand’s central bank plans to monitor before regulating crypto and stablecoin
The Reserve Bank of New Zealand (RBNZ) has said it would be increasing its efforts in monitoring stablecoins and crypto-assets but won’t propose a regulatory approach citing uncertainties in the sector’s development. The move comes after public input on the issues these new forms of private money could lead to for the financial system and […]
House Committee hearing talks crypto regulation
Navigating the complex world of digital assets and the emerging regulatory landscape, a U.S. House Committee hearing on June 14 had Representative Mike Flood of Nebraska hold a riveting discourse with crypto marketplace Prometheum’s CEO, Aaron Kaplan. The crux of the dialogue circled around defining the landscape of digital asset securities and their regulatory frameworks. […]
EU’s crypto regulation implementation in jeopardy
At the helm of European cryptocurrency regulation stands the Markets in Crypto Assets (MiCA), a framework recently given the green light by the European Union (EU). However, its successful implementation across the continent may be fraught with obstacles, warns Christian Anders, CEO of cryptocurrency enterprise Btc.x. A hurdle race towards acceptance According to Anders, the […]
SEC founder is warning users to get out of crypto platforms – Here is why
John Reed Stark, the driving force behind the creation of the SEC Office of Internet Enforcement, has issued a stark warning to the world of cryptocurrency. His message is unambiguous: “It’s time to step away from crypto platforms.” Stark’s reasoning stems from a deep-seated belief that the crypto trading landscape is about to face significant […]
Majority of crypto companies will leave the U.S. soon
The intricacy of U.S. regulations for digital assets is fostering an unsettling atmosphere that might trigger a mass migration of crypto companies from U.S. shores. Ripple’s CEO, Brad Garlinghouse, recently shared his insights on this predicament, highlighting the regulatory clarity in other regions as a luring factor for crypto companies. Emerging regulatory havens Countries like […]
How to ensure fair and transparent crypto markets by non-interference
In the rapidly evolving landscape of crypto and blockchain technology, stablecoins have emerged as a crucial component, providing stability and utility within the volatile crypto market. However, as stablecoins gain prominence, it becomes essential for regulators to navigate this domain cautiously. Stablecoins’ role in the crypto market Stablecoins, as the name suggests, are cryptocurrencies designed […]
Russia’s crypto landscape sees major shift – What’s going on?
In a major departure from its traditional stance, Russia is shaping a new cryptocurrency landscape with a significant shift toward embracing the digital economy. The country’s tax authority is set to take the reins of this burgeoning sector, overseeing its operations and opening the gates for participants eager to explore the opportunities that cryptocurrencies offer. […]
France invites crypto companies that are tired of the U.S.
In the face of escalating regulatory uncertainty in the United States, France extends an invitation to beleaguered cryptocurrency companies looking for a more predictable environment. French officials are confidently promoting their nation’s regulatory framework, which already hosts approximately 74 registered cryptocurrency firms, a figure poised to rise with the upcoming implementation of the European Union’s […]
Crypto regulatory clarity: The path to certainty could take years – SEC
In the ever-evolving landscape of crypto, regulatory clarity plays a pivotal role in shaping the industry’s future. According to recent reports, the United States Securities and Exchange Commission has formally responded to Coinbase’s petition for clear crypto regulation, stating that crypto regulations could take years and enforcement actions will continue in the meantime. What does […]
U.S. Democrats are dissing the Republicans over crypto
In a recent development, a leaked memo has revealed that Democrats are aligning their stance on cryptocurrency regulation. The memo, which was distributed to Democratic Party members of the U.S. House Committee on Financial Services, outlines the party’s position on the matter and highlights the perceived shortcomings of Republicans in dealing with the rapidly evolving […]
Texas to add crypto amendment to Bill of Rights
On May 11th, Texas lawmakers approved a groundbreaking amendment to the state’s Bill of Rights, ensuring the right to own, hold, and use cryptocurrency assets. Texas to give a triumph for crypto advocates The bill, known as HJR 146, was spearheaded by State Representative Giovani Capriglione, receiving 139 votes in favor and only two against. […]
China’s stance on crypto remains unshaken
Despite advancements in cryptocurrency adoption in Hong Kong, mainland China maintains its stringent anti-crypto stance regarding local regulations. Recent developments in Hong Kong, including state-affiliated banks opening accounts for crypto clients and the launch of two cryptocurrency funds by CPIC Investment Management, a China government-backed firm, do not signal a change in mainland China’s approach […]
Nigeria ignores crypto in major digital asset regulatory decision
In a major regulatory decision, Nigeria’s Securities and Exchange Commission (SEC) is moving forward with trial applications for digital exchanges, with a focus on tokenized offerings backed by assets, rather than cryptocurrencies, according to a story by media outlet Bloomberg. This decision aims to attract the nation’s tech-savvy populace to local assets, such as equities, […]
Hong Kong SFC to release comprehensive cryptocurrency guidelines in May
During a recent event, the CEO Julia Leung of the Hong Kong Securities and Futures Commission (SFC) announced that the SFC would release new guidelines for the cryptocurrency sector in May. These guidelines will govern the cryptocurrency sector in Hong Kong and are expected to provide clarity and regulation in this rapidly evolving market. It […]
South Korea’s crypto regulation bill receives initial approval
South Korean lawmakers have approved the initial review of a comprehensive crypto regulation bill, which contains strict sentencing guidelines for violators. The legislation aims to grant the Financial Services Commission the power to oversee digital asset-related activities in the country, including cryptocurrency transactions. New crypto regulation to impose strict requirements for exchanges The bill contains […]
Korea central bank takes charge of investigating crypto
In a significant development for the South Korean cryptocurrency market, the Bank of Korea (BOK) is set to take the lead in investigating virtual assets after the Financial Services Commission (FSC) withdrew its opposition to the move. This change of heart by the FSC comes amid accusations that the regulatory body was seeking to position […]
Ukraine to adopt new crypto regulations from EU
Ukraine is set to adopt the recently passed Markets in Crypto-Assets (MiCA) regulation from the European Union, marking a significant step towards integrating cryptocurrency assets into the nation’s legal framework. As the European Parliament approved the MiCA legislation, Ukrainian regulators have expressed their intent to implement the same regulatory package in their country. Ukraine regulators […]
U.K. to roll out crypto regulation in the next 12 months
The United Kingdom is gearing up to roll out comprehensive digital asset regulations within the next 12 months, according to Andrew Griffith, the economic secretary to the U.K. Treasury. In a recent interview, he emphasized the country’s desire to capitalize on the benefits of blockchain technology for the private sector and the overall economy. A […]
US SEC targets DeFi as it reopens 2022’s proposed crypto regulations
Despite the start of a crypto bull run, the SEC is stuck at a crypto crackdown. According to reports, the U.S. Securities and Exchange Commission (SEC) may target decentralized finance (DeFi) as it has reopened a proposal from last year that now explicitly targets platforms for crypto transactions as exchanges that must be regulated. In […]
