crypto regulation
United States Moves Forward With Crypto Regulation
Two new crypto-related bills were discussed among the House Agriculture Committee this week as the United States moves forward with crypto regulation.
Africa Crypto Adoption Sparks Regulation Concerns
The accelerated growth of blockchain technology in Africa recently has raised concerns over the possible implementation of knee-jerk regulation.
Genesis Agrees to $21 Million SEC Settlement in Bankruptcy Resolution Effort
Genesis Global settles with the SEC for $21 million over unregistered securities sales allegations, aiming to mitigate legal challenges and focus on repaying customers amid bankruptcy proceedings. The agreement, pending a February 14 hearing, marks a significant step towards resolving the company's financial and legal hurdles.
Taiwan's Financial Supervisory Commission Drafts New Crypto Regulations
Taiwan's Financial Supervisory Commission drafts crypto regulations for 2023, focusing on anti-money laundering, token issuance, asset segregation, and transparent trading. Overseas platforms face advertising restrictions.
What Biden’s Presidency Could Mean for Crypto
With Joe Biden's presidential win, the crypto community has speculated on how this would impact the industry.
Coinbase warns of losing crypto industry leadership
The U.S. SEC has issued a Wells notice to Coinbase. As a result, Coinbase warns that the U.S. government’s regulatory approach to crypto has created an uncertain and unstable environment. Meanwhile, other countries, such as France, the U.K., and the European Union, are building friendlier crypto regulation ecosystems and becoming crypto hubs, causing the U.S. to lose its status as the leading hub of the crypto sector.
Indian Supreme Court Expresses Discontent Over Lack of Crypto Regulations
The absence of defined rules and regulations governing cryptocurrencies in India has lately drawn the attention of the country's Supreme Court.
Unclear Crypto Regulations in South Africa Alarm Entrepreneurs
Cryptocurrency regulation is still largely unclear in South Africa, creating a strenuous business environment for crypto entrepreneurs.
Despite Clear Divide Amongst Lawmakers, Crypto CEOs Request Clear Regulations
Top executives representing the biggest companies in the American digital currency ecosystem appeared before Congress to testify on the state of the crypto industry.
ISIS Millions Could Be Hidden in Cryptocurrency Ready-to-Fund War Chest
There is fear that missing ISIS’s £246 million may have been hidden in cryptocurrency waiting to be used for war chest.
Binance Ends USDC Transactions on TRC20 Network
Binance will stop supporting USDC transactions on the TRC20 network from April 5, 2024, in response to Circle's policy changes.
FSB 2024 Agenda: Strengthening Crypto Regulation and Embracing AI"
The Financial Stability Board (FSB) has announced its 2024 Work Programme, focusing on crypto regulation, AI, and digital innovation, aiming to enhance global cooperation and stability in finance.
President Biden Freezes Mnuchin's Controversial Proposed Regulation on Unhosted Crypto Wallets
FinCEN’s controversial regulation proposal on “unhosted” crypto wallet has been effectively frozen by President Joe Biden as his administration takes office today.
Binance CEO Emphasizes Importance of Understanding Crypto for Proper Regulation
During a fireside chat at the Hong Kong Web3 Festival, Binance CEO Changpeng Zhao (CZ) discussed the importance of regulators having a deep understanding of the crypto industry to properly regulate it. He emphasized the need for regulatory clarity and engagement with regulators. CZ also suggested that government efforts to restrict traditional financial markets may push more people towards crypto, ultimately leading to mass adoption.
EBA Issues Updated Guidelines for Crypto Asset Service Providers
The European Banking Authority (EBA) extends Anti-Money Laundering and Counter-Terrorist Financing measures to include crypto firms, aiming to harmonize regulatory approaches and mitigate financial crime risks in the EU.
SEC Withdraws Lawsuit Against Debt Box Amid Misleading Evidence Controversy
The SEC has withdrawn its lawsuit against Debt Box, accusing it of a $50 million fraudulent scheme, paving the way for future charges and a significant shift in crypto firm regulatory landscape.
Gibraltar Introduces New Legislation to Combat Insider Trading and Market Manipulation
The Gibraltar Financial Services Commission (GFSC) has updated its regulatory guidelines for the digital currency ecosystem to include a 10th clause that addresses insider trading and market manipulation.
LSE Set to Launch Bitcoin and Ethereum ETNs
LSE readies for Bitcoin & Ethereum ETN listings in Q2 2024, aligning with FCA's updated crypto stance, signaling a landmark for regulated crypto investments.
US Rep. Tom Emmer Fears Criticism of Digital Payment Innovation May Repress Progress
In a congressional hearing which was held on January 30, US Representative Tom Emmer has expressed his concern about the excessive criticism of innovations in digital payment, saying that it may repress its progress.
US SEC Names CFTC Commissioner Dan Berkovitz as Incoming General Counsel
The United States Securities and Exchange Commission (SEC) has announced Dan Berkovitz as the next General Counsel for the agency to resume in November.
South Korea Tightens Regulations on Crypto Mixers Amid Money Laundering Concerns
South Korea's Financial Intelligence Unit (FIU) is set to introduce new regulations targeting digital asset mixers, mirroring similar moves by the US. These measures aim to curb the use of crypto mixers for illegal money laundering.
Genesis settles with the SEC, agreeing to a $21 million penalty
Genesis Global Capital, LLC settles with the SEC, agreeing to a $21 million penalty for unregistered securities offerings through its Gemini Earn program.
Mike Bloomberg: US Presidential Candidate Highlights Crypto Adoption In Agenda for Financial Reform
The United State presidential candidate for the upcoming 2020 election Mike Bloomberg is set to tender a proposal seeking to accommodate regulations for cryptocurrencies in a new financial plan that will be duly regulated.
Andreessen Horowitz Names New York Stock Exchange’s Top Regulator to Head Its Cryptocurrency Unit
Andreessen Horowitz venture capital firm hires the current head of the New York Stock exchange (NYSE)’s regulatory unit.
Pressure Piles Up on BitMEX as Recent Outage Exposes Network Holes
Once branded a “Bitcoin casino," BitMEX has plunged into a series of crises over the last few years. The crypto exchange found itself trending on Twitter in the US recently because of the recent shutdown. BitMEX announced that its trading engine went offline for over an hour because of an incident, which the exchange identified as a “major outage."After some investigation, the exchange later announced that that platform restored its online operations. Such outage of BitMEX’s trading engine is the latest in a series of negative circumstances facing the exchange. Currently, as Bitcoin price hits $10,000, the major outage has prompted warnings that the exchange is becoming increasingly unreliable. The outage left customers unable to access their funds.
Malaysia’s Securities Commission Legalizes Digital Asset and Crypto Trading
Malaysia’s Securities Commission, which is responsible for overseeing compliance with Islamic laws in finance, has allowed trading of digital assets.
Ripple Blockchain Firm to Establish Regional Headquarters in Dubai
Amid the conflict with the SEC over its strict crypto regulatory framework, Ripple has announced that it will set up a regional office in Dubai.
California Court Fines Crowd Machine and Metavine in ICO Case
A California court orders Crowd Machine and Metavine to pay over $20 million for an unlawful 2018 ICO, highlighting the importance of adhering to securities laws in the crypto industry.
Coinbase Bolsters Advisory Board with Security Experts
Coinbase has enlisted four national security experts to its Global Advisory Council, including former U.S. Secretary of Defense Mark Esper, former U.S. Representative Stephanie Murphy, Counterterrorism Advisor Frances Townsend, and strategist David Urban.
Irish MEP Calls for Tightened Rules on Crypto Assets
Irish MEP Chris MacManus has submitted a proposal to the EU per crypto regulation
Legislation Introduced to Remove SEC Chair Gensler from His Role
United States Representative Warren Davidson has announced plans to introduce legislation that would remove SEC Chair Gary Gensler from his role and replace it with an Executive Director that reports to the Board. The move follows the SEC's proposed rule amendments that could bring certain brokers under additional regulatory scrutiny and redefine an "exchange." While Gensler has said the proposed changes could benefit investors and markets, SEC Commissioner Hester Peirce has criticized the move, accusing the regulator of stifling new technology and entrepreneurship. The SEC has faced criticism for using enforcement actions to develop the law on a case-by-case basis, rather than creating clear regulations.
Coinbase Secures Major Payment Institution License from Singapore's Monetary Authority
Coinbase has obtained a Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS), marking a significant milestone in its expansion into the Asian market. The license will enable Coinbase to offer digital payment token services to both individual and institutional clients in Singapore. This move aligns with the company's strategy to tap into Singapore's growing crypto and Web3 ecosystem.
Binance and CEO Changpeng Zhao Face Class-Action Lawsuit Over Alleged Market Manipulation Targeting FTX
Binance and its CEO, Changpeng Zhao, are facing a class-action lawsuit filed by plaintiff Nir Lahav, accusing them of unfair competition and SEC law violations. The lawsuit alleges that Binance manipulated the cryptocurrency market to harm competitor FTX, leading to a significant decline in FTX's utility token, FTT. The case brings into focus the broader implications of regulatory efforts in the crypto industry.
Ripple Welcomes Former JPMorgan Chase Chief Regulatory Affairs Officer to its Board of Directors
Ripple has been expanding its network and recently, the blockchain firm has made yet another move to bring its company growth to another level.
Token Taxonomy Act that Will Exempt Cryptocurrencies from Securities Laws Reintroduced in US Congress
A crypto bill suggesting that certain cryptocurrencies should be exempted from securities laws has been reintroduced to US Congress for review.
Paytm CEO Doubles Down on Crypto, Says it Will Go Mainstream in 5 Years
Paytm's founder and Chief Executive Officer Vijay Shekhar Sharma has doubled down on his trust in crypto’s ability to go mainstream in the next 5 years.
US Congress Plans New Provisions for Cryptocurrency Derivatives Markets
The US Congress aims to pass a new bill deciding on data collection for digital commodities contracts and swaps.
UK Seeks to Recognize Bitcoin and Crypto as Regulated Financial Instruments
The UK Parliament recently voted to regulate Bitcoin and crypto assets as financial products
G20 Announces Standards for Global Crypto Regulation
G20 countries have announced that the Financial Stability Board, the International Monetary Fund, and the Bank for International Settlements will release recommendations on global crypto regulation by July.
Ripple Executives Cleared of SEC Charges in Landmark Decision
In a major development, Ripple CEO Brad Garlinghouse and Executive Chairman Chris Larsen were cleared of all charges by the U.S. Securities and Exchange Commission (SEC). This is the third legal victory for the executives and Ripple, leaving the crypto industry questioning the SEC's approach.
SEC Chair Gary Gensler Asks Congress to Regulate Crypto Exchanges
Gary Gensler, the chairman of the SEC, has urged US Congress to create a regulatory framework for crypto exchanges in the United States.
South Korea's Stance on Virtual Currency Investment and ETFs in 2024
South Korea reaffirms its prohibition of local financial institutions from owning, buying, or investing in cryptocurrencies and businesses offering crypto, including a strict ban on cryptocurrency exchange-traded funds (ETFs).
JPMorgan CEO Warned Investors Against Bitcoin Investment, Calls for Clear Regulations to Crypto Trading
Jamie Dimon, the CEO of JPMorgan Chase Bank, is still not a crypto supporter. He admits that JPMorgan clients are interested in cryptocurrency. JPMorgan is planning to offer Bitcoin funds to rich clients.
Edward Snowden Criticizes SEC Following Twitter Hack and False Bitcoin ETF Announcement
Whistleblower Edward Snowden has openly criticized SEC Chair Gary Gensler following a misleading Bitcoin ETF approval post on the SEC's Twitter account. Snowden's comments highlight growing concerns about the SEC's credibility and regulatory approach in the crypto industry.
Biden's Communications Director Restricted From Handling Crypto Firms
President Joe Biden's communications director, Ben LaBolt, will be barred from handling matters related to any cryptocurrency or technology firms he previously represented, but he will be allowed to advise on crypto regulation. LaBolt has disclosed owning $50,001-$100,000 in Bitcoin and $15,001-$50,000 in Ethereum 2. The restrictions are in line with ethics rules followed by senior White House staff.
US SEC Chair Gary Gensler: Coinbase and Other Crypto Exchanges Must Register with Agency
After raising concerns over Coinbase’s lending product, US SEC Chairman Gary Gensler has once again reiterated that cryptocurrency exchanges should register with the commission.
SEC Commissioner Expresses Dissent on LBRY Case Outcome
SEC Commissioner Hester M. Peirce criticizes the commission's enforcement action against blockchain firm LBRY, Inc., highlighting the case as an example of regulatory overreach that stifles innovation and fails to adequately protect investors. Amidst ongoing legal actions against crypto enterprises, Peirce's dissent underscores the need for a balanced regulatory approach to foster innovation and investor protection in the blockchain and crypto sectors.
India's Largest Crypto Exchange CoinDCX Raises $2.5 Million in New Growth Capital to Increase User Base
CoinDCX, India’s largest crypto exchange, has announced that it has raised $2.5 million from investors like Polychain Capital and Coinbase Ventures. Polychain Capital led the funding round with support from Coinbase Ventures, the investment arm of the US cryptocurrency exchange Coinbase. CoinDCX had raised a $3 million Series A round earlier in March, which was also led by Polychain Capital and included HDT Group (operator of BitMEX) and Bain Capital Ventures. The company’s other main investor, Coinbase Ventures, has also made investments in other crypto businesses like BlockFi, Messari, Compound, Securitize, and Etherscan.
SEC to Give "Careful Consideration" to Concern about Spot BTC ETFs: Gensler
Gary Gensler, Chairman of the United States Securities and Exchange Commission (SEC), has promised to give a “Careful Consideration” about spot Bitcoin Exchange Traded Products (ETPs).
SEC Commissioner Elad Roisman Sets to Leave the Agency in next January
Elad Roisman, one of the Commissioners with the U.S. SEC has tendered his resignation with President Joe Biden in preparation for his exit from the agency by the end of January 2022.
SEC Boss Appoints Corey Frayer To Advise on Crypto Policy
Corey Frayer is joining the SEC’s executive team as a senior adviser on the agency’s policymaking related to cryptocurrency oversight.
Turkey Government Considers Introducing New Regulations After Collapse of Two Crypto Exchanges
Turkey is discussing plans to tighten crypto regulations after two local exchanges collapsed a few days ago.
What Would Happen if Ripple's XRP Token Was Classified as a Security Under US Crypto Regulations?
Amid Ripple XRP token’s recent price surge, whether the fintech firm will stay in the US despite the lack of crypto regulations still remains in question.
Morocco Completed Crypto Regulation
Morocco may draft a crypto law soon. Industry stakeholders will debate the Central Bank's paper. Morocco has the fastest-growing crypto market in Northern Africa, rising from 2.4% to 3.1% in 2021. Soluna built the first blockchain wind farm in 2020.
Coinbase CEO Compares SEC to Soccer Refs in Criticism of Lack of Clarity Around Crypto Regulation
Coinbase CEO, Brian Armstrong, compared the SEC to “soccer refs” in a game of pickleball, criticizing the regulator for their lack of clarity around crypto regulation. The comments came after Coinbase revealed they had been issued a Wells notice, which typically precedes an enforcement action. The crypto community has widely condemned the recent notice, with many agreeing that the SEC has reversed its earlier position regarding Coinbase.
Coinbase’s Upcoming IPO May Lead to Better Crypto Regulation in the United States
Coinbase’s upcoming listing may be what it takes to trigger better cryptocurrency regulation in the United States.
What Coinbase CEO’s Crypto Regulation Rumors Mean for Bitcoin if Pushed by US Treasury?
Brian Armstrong, CEO of Coinbase, warned that the Trump Administration may be targeting Bitcoin on its way out of office through regulation, but what impact could it have?
Oxford Law Researchers Call for Strict Cryptocurrency Regulation to Avoid Another Financial Crisis
Researchers at Oxford University Law Faculty claim that crypto market regulation is mandatory to prevent systemic risk in times of financial crisis.
ECB President Pushes for Digital Euro but Calls for Global Bitcoin Regulation
Christine Lagarde, European Central Bank president, said the Bitcoin has been used for money laundering activities and is calling for global regulation of the cryptocurrency.
Coinbase CEO Warns Exiting President Trump May Drop Crypto Wallet Regulation Bomb
Coinbase CEO Brian Armstrong shared rumors that the Trump Administration may rush crypto wallet regulations on traders with privacy-invading data-collection requirements.
European Securities and Markets Authority Prioritizes Crypto-Related Regulation
The European Securities and Markets Authority (ESMA) announced its key priorities list for 2020-2022. In its published document “Strategic Orientation for 2020-22,” the ESMA reflected its focus on supervisory convergence and its role in building the Capital Markets Union.
Russian Prime Minister Calls for Civilized Approach to Crypto Regulation
Mikhail Mishustin, the Russian prime minister, has stated that the cryptocurrency market ought to be advanced in a civilized manner.
Nigerian Securities Commission to Release Official Guidelines on Crypto Regulations
The Nigeria Securities and Exchange Commission has announced a proposed crypto regulation guideline.
Coinbase Lists DeFi Tokens AAVE, BNT, and SNX as Warning of US Crypto Wallet Regulation Looms
2020 has been all about the DeFi boom. Many crypto exchanges have welcomed the DeFi craze with open arms, notably Coinbase, with the addition of new coins.