The Financial Conduct Authority (FCA) in the UK reported that 1.9 million adults own cryptocurrencies, representing 3.86% of the general population. The regulator also noted that 75% of them hold crypto worth less than £1,000, approximately $1,230.
More DetailsStakeholders including the Silvergate Bank have responded to the OCC call recommending the regulator to improve US bank’s crypto capabilities.
More DetailsThe Securities Commission (SC) of Malaysia, the country’s financial regulator, has announced that Binance cryptocurrency exchange is not unauthorized to operate in the country. The financial watchdog has, therefore, put the crypto exchange on the list of unlicensed companies.
More DetailsUK’s financial regulator has posted a job listing for a potential candidate with strong crypto knowledge. The recruitment could be an indication that the agency is set to provide higher degree of regulatory scrutiny of digital assets and possible abuses.
More DetailsTaiwanese singer Chen Lingjiu faces fraud case involving JPEX, highlighting potential pitfalls of celebrity endorsements in cryptocurrency investments and the need for robust regulatory measures.
More DetailsUS-based cryptocurrency exchange, Kraken, has announced its plan to acquire Dutch crypto broker BCM as part of its European expansion strategy. This move aligns with the new MiCA regulatory framework, promoting a favorable investment climate in the region. The acquisition will enhance Kraken's service offerings and market position in the Netherlands.
More DetailsSpain’s market regulator has confronted Andres Iniesta over his public acknowledgement he is getting started trading cryptocurrency on Binance platform.
More DetailsSingapore's MAS releases a regulatory framework for stablecoins after public consultation in 2022. It aims to ensure value stability and sets key requirements for issuers.
More DetailsBlockchain.com said the registration is an important part of its global plans to provide services across Europe and across the world, as the exchange just get approval from the Italian regulator.
More DetailsParadigm, a venture capital firm, has filed an amicus brief in the SEC's ongoing lawsuit against cryptocurrency exchange Binance. The brief criticizes the SEC's approach, arguing that the agency is overstepping its regulatory boundaries. Paradigm emphasizes that the SEC's actions could have far-reaching implications for securities law.
More DetailsConflux plans to deploy Uniswap v3 on its network, offering access to millions of potential new users in the Chinese and Asian markets. The move comes after the Uniswap v3 code license expired, allowing developers to fork the protocol and deploy their own decentralized exchange. Conflux has experienced a spike in traffic in the first quarter of 2023 and has a market capitalization of nearly $1 billion.
More DetailsCboe Digital, the first US-regulated crypto native exchange, will launch Bitcoin and Ether futures trading, enhancing capital efficiency and market liquidity.
More DetailsThe Chinese central bank’s Shanghai headquarters has recently revealed the Shanghai FinTech Innovation regulatory sandbox application list. The People’s Bank of China’s (PBoC) Shanghai branch is currently soliciting opinions from the public on eight applications to be included in the FinTech innovation supervision pilot.
More DetailsA UN study reveals Bitcoin mining's significant environmental impact, including carbon emissions, water and land damage, and heavy reliance on fossil fuels. It calls for urgent regulatory and technological interventions to promote a sustainable digital currency ecosystem.
More DetailsThe FTC settles with Voyager Digital, barring it from handling consumer assets post allegations of misleading FDIC insurance claims. The settlement highlights regulatory efforts to ensure transparency in the crypto industry amid a broader crackdown on deceptive practices.
More DetailsPhilippines' Congress Speaker Martin Romualdez plans to introduce an AI regulatory framework to ASEAN during its chairmanship in 2026, focusing on digitization, cybersecurity, and managing generative AI in economic policies.
More DetailsBittrex will close its U.S. platform on April 30, citing the current regulatory and economic environment. Customer funds are safe and available for withdrawal. The shutdown will not affect Bittrex Global, which will remain open for trading.
More DetailsBrazil's regulator has ordered Mercado Bitcoin, the largest local crypto exchange, to provide information on fixed-income tokens the exchange has issued over the last two years.
More DetailsThe fervor surrounding a US-regulated spot Bitcoin ETF is palpable, with its approval expected to significantly bolster Bitcoin's market adoption. Addressing the current inefficiencies in Bitcoin investment, a spot ETF promises cost efficiency, enhanced liquidity, ease of access, and regulatory compliance. The formal recognition by regulators and established financial brands could further fuel Bitcoin's market acceptance. The estimations indicate a substantial market influx post ETF approval, not just within the US but potentially extending to global markets, laying the groundwork for a robust 2024 for Bitcoin, as per the analysis by Charles Yu of Galaxy.
More DetailsBinance has announced the sale of its entire Russia business to CommEX, citing compliance issues as the primary reason for the exit. The transition process for existing Russian users is expected to take up to one year, with no financial strings attached to the deal for Binance.
More DetailsSingapore's monetary authority and police forces are collaborating with traditional banks to optimize their procedures for opening accounts for digital asset service providers. After six months, results and conclusions for risk management and due diligence will be published. The guidelines will cover stablecoins, NFTs, and transferable gaming or streaming credits, with banks reserving the right to make decisions based on their own risk assessment.
More DetailsLed by ING Bank, in collaboration with ABN AMRO, BNP Paribas Securities Services, Invesco US, Société Générale – Forge, State Street, and others have launched a digital asset project — Pcytor.
More DetailsCEO of Ripple, Brad Garlinghouse, has disclosed how China has taken the lead in blockchain and crypto as the US risks losing out.
More DetailsBitcoin has formed an ascending Triangle thus hinting a bullish trend. The cryptocurrency will need to reclaim the $35,000 level as resistance to avoid bull-ending price action.
More DetailsThe Nigeria Securities and Exchange Commission has announced a proposed crypto regulation guideline.
More DetailsFederal Reserve Governor Michelle Bowman, in a discussion at Harvard Law School, explored the evolving digital payment landscape, touching on CBDC, stablecoins, and the necessity for a robust regulatory framework. While recognizing the potential of digital assets, she emphasized a cautious approach, underscoring the importance of continued research and international collaboration to navigate the digital transformation responsibly.
More DetailsIn 2022, South Koreans transacted $4.3 billion through illegal crypto exchanges, comprising almost 70% of all illicit money traffic captured by officers. The transactions aimed to purchase foreign virtual assets to sell in the country later due to the South Korean regulatory regime isolating the local market.
More DetailsAlmost a billion dollars in cryptocurrency was withdrawn from Binance shortly before the US CFTC accused the exchange of regulatory violations. The total amount withdrawn from multiple platforms in the 12 hours preceding the indictment was almost $1.5 billion, with over half of that amount coming from Binance. Despite the withdrawals, Binance still holds over $63 billion worth of cryptocurrency assets.
More DetailsCoinbase, on October 17, 2023, outlined its robust measures to curb terrorism financing and other illicit activities through a rigorous compliance framework and blockchain analytics. The discourse emphasizes the importance of regulatory clarity in the U.S to minimize offshore risks associated with digital assets. With a dedicated team and technological tools, Coinbase demonstrates a proactive approach in maintaining the integrity of the crypto ecosystem.
More DetailsThe U.S. Securities and Exchange Commission (SEC) has filed an application to compel Tesla CEO Elon Musk to comply with an administrative subpoena. The SEC is investigating Musk's 2022 Twitter stock purchases and his related statements and SEC filings. Despite initially agreeing to testify, Musk later refused to comply with the subpoena, prompting the SEC to seek court intervention.
More DetailsCME Group is now proposing a new approach to crypto derivatives. The new approach could signal big structural shifts for traditional financial derivatives away from intermediaries.
More DetailsDuring 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.
More DetailsThe US SEC's proposal to amend its custody rule has faced opposition from the Blockchain Association and Andreessen Horowitz, who have filed letters criticising the rule's impact on investment advisers and its potential to curtail investment in digital assets. The SEC's proposal would apply more stringent rules on investment advisers in the custody of assets, including crypto.
More DetailsMichele Korver brings a wealth of digital currency expertise, and will therefore help coordinate efforts to maximize a16z’s contribution to the crypto and web3 projects.
More DetailsFSB finalizes a global regulatory framework for crypto assets, aiming for consistent regulation. The framework includes high-level recommendations for crypto-asset activities and stablecoins.
More DetailsSouth Korean gaming firm Wemade faces a $41 million tax bill for its crypto operations, highlighting the complexities of regulatory compliance in the blockchain gaming industry.
More DetailsThe International Monetary Fund (IMF) has released a working paper that delves into the macrofinancial risks tied to crypto assets. The paper, part of the IMF's Working Papers series, proposes a framework aimed at aiding policymakers and regulatory authorities in understanding and tracking systemic risks from the crypto sector. This framework is crucial as traditional financial tools are not well-suited for assessing crypto-related risks.
More DetailsHorst Jicha, founder of USI Tech, has been charged with defrauding investors of $150 million in a fraudulent crypto scheme, marking a significant development in regulatory action against crypto-related crimes.
More DetailsBinance.US is facing challenges in finding a bank partner to serve as a fiat on-ramp and off-ramp for its clients in the United States, following the recent failures of Silvergate and Signature Bank. The regulatory crackdown on banks with crypto clients is another factor contributing to the exchange's struggles.
More DetailsCryptocurrency derivatives exchange, dYdX, is withdrawing its services from Canada due to increased regulatory restrictions. The exchange will halt new user onboarding on April 7 and move existing users to "close-only mode" on April 14.
More DetailsR3, a leading enterprise blockchain software firm, discusses the transformative potential of tokenization in the financial sector. The company emphasizes the need for regulatory frameworks and industry standards to unlock the full benefits of digital assets. According to a June 2023 report from Bernstein, $5 trillion in assets could be tokenized in the next five years, offering significant opportunities for market participants.
More DetailsThe House Financial Services Committee, Agriculture Committee, and subcommittees will hold joint hearings in May on establishing a bill to provide regulatory clarity to the digital asset ecosystem. The hearings will focus on addressing the market structure and striking a balance between protecting consumers and promoting responsible innovation. The goal is to report a bill out that deals with the capital raising piece for digital assets, all the way through to how a product can go from a securities regime to commodities regime, while preserving rights around products that do not fit into either regime.
More DetailsThe recent Wells notice issued by the SEC to Coinbase, along with other legal threats against crypto firms, has raised concerns among industry experts that the US crackdown on cryptocurrencies could stifle innovation and weaken the dollar. Some believe that the regulatory environment in the US is driving jobs, investment, and innovation offshore, to countries like Singapore, Hong Kong, and potentially Australia.
More DetailsBinance is set to reenter the Japanese crypto market after acquiring the regulated crypto exchange platform, Sakura Exchange Bitcoin (SEBC). The SEBC platform will terminate its current crypto exchange and brokerage services by May 31, 2023, and reopen as Binance Japan in June. Binance had to fold its Japan operations in 2018 after regulatory warnings, but has since mended relations with regulators and reentered other markets through acquisitions.
More DetailsMatt Hougan, CIO of Bitwise, used a Twitter thread to elaborate on the firm's amended spot Bitcoin ETF application. He emphasized the need to prove that the CME bitcoin futures market is a "regulated market of significant size" for surveillance purposes and highlighted Bitwise's history of original research in their ETF filings.
More DetailsCryptocurrency exchange Coinbase has revealed in its newly released transparency report that it got served a sum total of 1,914 government requests.
More DetailsTether's wallet-freezing policy, in line with US OFAC regulations, is a proactive approach to cybercrime, setting a new standard in the crypto industry.
More DetailsNepal's telecoms authority ordered ISPs to prohibit all bitcoin trading websites. The Nepal Telecommunication Authority (NTA) ordered ISPs and email providers to block crypto-related websites, applications, and networks on Jan. 8. Promoting crypto is also illegal.
More DetailsGary Gensler, head of the US securities regulator, is facing accusations of hypocrisy from the crypto community after a 2018 video surfaced of him stating that cryptocurrencies are commodities or cash and not securities. Several crypto leaders have expressed their shock and disgust at Gensler's apparent change of stance on the matter.
More DetailsJewel Bank announces that it acquire licenses from a local regulator to become the first digital asset bank in the island nation.
More DetailsAlchemy Pay, a prominent crypto-fiat payment gateway, has secured a Money Services License in Iowa, marking a significant expansion in the U.S. market and enhancing its global compliance portfolio.
More DetailsConcerning the rapid increase of risks in digital marketing, The International Organization of Securities Commissions, or IOSCO, has proposed some measures for its member countries to consider when deciding their policy and imposition approaches to retail online offerings and marketing.
More DetailsCoinbase's role in the newly approved Bitcoin spot ETFs by the SEC marks a crucial advancement in cryptocurrency's integration into mainstream finance, bringing regulatory clarity and institutional investment opportunities.
More DetailsBinance Research, in collaboration with Binance VIP & Institutional, has recently unveiled the results of their Institutional Crypto Outlook Survey. The study reveals a strong positive sentiment towards cryptocurrencies among institutional investors, with 63.5% expressing optimism for the next year and a striking 88% displaying a positive outlook for the next decade.
More DetailsG20 officials have announced that they will begin the preliminary regulatory groundwork for the group to accept digital payments.
More DetailsIn a public letter, He Yi, Co-founder of Binance, discusses the company's compliance strategy, which gains significance amidst a U.S. Department of Justice inquiry initiated on May 6, 2023, 13 SEC charges, and the company's recent exit from the Russian market.
More DetailsFollowing its turmoil, the FTX’s European license is now said to be soon suspended by Cyprus regulators, according to a report.
More DetailsMichael Wang, President of ACE Exchange, was recently arrested on charges of fraud and money laundering, marking a significant event in the cryptocurrency industry.
More DetailsBinance has announced that it will suspend providing digital versions of stocks such as Coinbase, Apple, and Tesla, a time when the exchange faces rising pressure from regulators across the globe.
More DetailsConflux plans to deploy Uniswap v3 on its blockchain, which would offer access to millions of potential new users, particularly in China and Asian markets. This comes days after the Uniswap v3 code license expired, allowing developers to fork the protocol and deploy their own decentralized exchange. Conflux has a market capitalization of nearly $1 billion and has $45 million in total value locked on-chain. The network also announced a partnership with China Telecom to develop a blockchain SIM card.
More DetailsMaybe what Facebook is not doing right that costs it to lose founding partners? Breaking news shows that Facebook’s Libra has lost another member of its council. This time round, Vodafone has confirmed to have left Libra Association.
More DetailsStablecoins plunged below $1 this week. Major regulators have become concerned about such cryptocurrencies.
More DetailsPaxful, a peer-to-peer cryptocurrency marketplace, has unfrozen 88% of previously frozen user accounts after suspending operations. The remaining $4.4 million in frozen funds is in the hands of US financial regulators.
More DetailsRollbit has announced the discontinuation of its Degen EXchange and sister site Rollbot.com due to regulatory challenges and low user adoption. However, the company's core product, Rollbit.com, and its $RLB token functionality remain unaffected. The firm also hinted at exciting future releases.
More DetailsLaser Digital, Nomura's digital asset subsidiary, has received In-Principal Approval from Abu Dhabi Global Market's Financial Services Regulatory Authority. The approval allows the company to offer broker-dealer and asset management services in the UAE, subject to fulfilling specific conditions.
More DetailsAbu Dhabi Global Market's Registration Authority has introduced the Distributed Ledger Technology Foundations Regulations 2023, a global legislative framework designed to facilitate token issuance, promote governance, and drive transparency in the crypto sector.
More DetailsJCBA submits an initial proposal for IEO regulatory reform to JVCEA, outlining four key agendas aimed at stabilizing the IEO market and enhancing user protection. The reform aims to make domestic IEOs more attractive than foreign exchanges.
More DetailsTHORSwap, a decentralized exchange (DEX) leveraging the THORChain protocol, resumed operations on October 13, following a temporary shutdown to address concerns of illicit funds transfer. The platform has enhanced its security measures, updated its terms of service, and partnered with an industry leader to prevent the movement of illicit funds. Although the move was met with mixed reactions from the community, it underscores THORSwap's commitment to providing a secure trading environment amid rising regulatory pressures in the DeFi sector.
More DetailsCrypto exchanges and companies in India are still seeking regulatory clarity and tax status from the Reserve Bank of India following a Supreme Court ruling in favor of the crypto industry earlier this year. India’s Supreme Court reversed the ban placed by the central bank on financial institutions offering crypto-related banking services. It is two months after lifting the ban, crypto exchanges and firms are now seeking clarification regarding the nature of their operations.
More DetailsKraken is contesting the United States Internal Revenue Service's demand for critical exchange user information, citing it as an "unjustified treasure hunt." Kraken has requested federal court intervention, pointing out that the IRS has gone "far beyond" its intrusive summons. The fight against IRS is Kraken's response to the agency's February summons, which demanded additional user information to identify Kraken accounts that did at least $20,000 of cryptocurrency trading in any single year between 2016 and 2020.
More DetailsBlackRock Inc., the world's largest asset manager, halts its plans for a spot XRP ETF due to ongoing regulatory uncertainties and concerns over XRP's legal status in the midst of the Ripple vs. SEC case.
More DetailsFDIC's Martin Gruenberg said more guidance will be given to banks about crypto when it gains more understanding of its inherent risks
More DetailsUS regulators have approved shares of Grayscale Investment’s Litecoin and Bitcoin Cash Trusts for public trading.
More DetailsCircle intends to become a full reserve national commercial bank as a part of the potential solution, the company explains its core services heavily rely on third parties that create business risks.
More DetailsHong Kong to launch a 'regulatory sandbox' for testing stablecoin issuance and business models, as outlined in the city's 2024 budget plan.
More DetailsMicrosoft's Dee Templeton joins OpenAI's board as a nonvoting observer amidst significant corporate governance changes following CEO Sam Altman's brief ouster and reinstatement.
More DetailsThe US Court of Appeals has ordered the SEC to respond to Coinbase’s writ of mandamus within 10 days. The largest US cryptocurrency exchange filed a lawsuit in April requesting regulatory clarity, but has faced increased enforcement and warnings from the SEC, leading to a downgraded rating by Citigroup.
More DetailsThe New York Department of Financial Services and the US Federal Reserve Board have published their internal reviews on the handling of Signature Bank and Silicon Valley Bank's failures. The string of bank failures, including Silvergate Bank's voluntary liquidation, has prompted regulators to re-evaluate their supervision.
More DetailsTexas Regulators are investigating FTX.US over its high-yield, interest-bearing accounts.
More DetailsThe Prudential Regulatory Authority (PRA) in the United Kingdom is set to propose rules for issuing and holding digital assets, according to Vicky Saporta, executive director of the Prudential Policy Directorate at the Bank of England. The rules will be developed in compliance with the Basel III rules and the Financial Services and Markets (FSM) bill currently being considered by Parliament.
More DetailsIn a joint report released by the US Securities and Exchange Commission on 24th October 2019, four US financial watchdogs have joined the Global Financial Innovation Network (GFIN).
More DetailsIt is a positive sign for Paxos as it means that the blockchain company is a compliant business and MAS is supportive to it.
More DetailsRipple CEO Brad Garlinghouse criticizes former SEC Chair Jay Clayton for his aggressive regulatory approach, citing hypocrisy based on a 2020 lawsuit against Ripple. The ongoing legal tussle and recent developments highlight the broader regulatory uncertainties in the crypto industry.
More DetailsDubai's VARA is appointing Matthew White as its new CEO, focusing on regulatory compliance in the cryptocurrency space, following a leadership transition.
More DetailsSouth Korean crypto asset management firm Delio has been fined KRW 1.896 billion and suspended for three months by the Financial Services Commission's Financial Intelligence Unit due to non-compliance with financial transaction laws.
More DetailsSygnum Singapore’s acquisition of a Major Payment Institution Licence from the Monetary Authority of Singapore comes amidst a wave of similar regulatory approvals by entities like Coinbase, Blockchain.com, and Crypto.com. This development broadens Sygnum's service offerings and positions it strongly in a competitive yet regulated digital asset market landscape in Singapore, thereby potentially attracting a wider segment of institutional clientele.
More DetailsRevolut has been flagged as being at risk of not meeting auditing requirements.
More DetailsHong Kong's VSFG is set to launch a spot Bitcoin ETF in Q1 2024, aiming for $500 million in assets. This aligns with Hong Kong's regulatory shift towards cryptocurrency and its ambition to become a digital asset hub.
More DetailsThe SEC extends the review period for the Invesco and Galaxy Digital's Ether ETF until February 6, 2024, signaling continued caution in cryptocurrency product approvals.
More DetailsAnchorage Digital has laid off 75 employees, citing regulatory uncertainty and market volatility. The crypto bank expressed confidence in the digital asset landscape but acknowledged headwinds for its business and the crypto industry.
More DetailsIn 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.
More DetailsJelena McWilliams, the chairperson of the Federal Deposit Insurance Corporation (FDIC), has revealed that US financial Regulators are creating clearer regulations on how banks can engage in activities involving cryptocurrencies.
More DetailsThe CFTC and FTC have levelled fraud charges against former Voyager Digital CEO Stephen Ehrlich, spotlighting the case as a notable instance of regulatory enforcement within the digital asset sector. The charges underscore the market's inherent risks and the imperative for robust regulatory compliance to ensure investor protection.
More DetailsBinance.US declares operational independence from Binance.com, reassures customers, and remains compliant with U.S. regulations, following a $4.3 billion settlement. Chairman Changpeng Zhao steps down.
More DetailsMany German banks have filed a request to introduce a digital asset custody business. Germany’s Federal Financial Supervisory Authority, popularly identified as BaFin, has received over 40 applications from German banks interested in offering crypto custody services.
More DetailsBinance.US is facing challenges in securing a bank partner to serve as a fiat on-ramp and off-ramp for its clients in the United States. Recent regulatory crackdowns on banks with crypto clients, along with failed attempts to establish direct banking relationships, have left Binance.US without banking services.
More DetailsThe UK's Financial Conduct Authority (FCA) has imposed restrictions on Rebuildingsociety.com Ltd, a peer-to-peer lending platform, impacting its recent partnership with crypto exchange Binance for complying with the FCA's marketing regime. The regulation mandates firms to ensure transparent and fair marketing, affecting Binance’s strategy to serve the UK market. The move showcases the FCA's stringent stance towards ensuring marketing compliance, especially within the crypto sector.
More DetailsDespite Russia’s Central Bank imposed ban and restrictions on cryptocurrency usage in the country, Tinkoff bank is examining potential cryptocurrency investments services to offer to its clients.
More DetailsThe Taiwanese Legislature is deliberating on a new Virtual Asset Management Bill aimed at fostering better consumer protection and industry oversight. The bill, seen as moderate, outlines pragmatic mandates for VASPs while leaving room for further regulatory fine-tuning, marking a significant step in Taiwan’s evolving digital asset regulatory landscape.
More DetailsHong Kong authorities are intensifying efforts to apprehend the key operators behind JPEX, a cryptocurrency platform implicated in the city's largest alleged financial fraud. The police have arrested 15 individuals and seized assets worth HK$85 million ($10.8 million). Financial Secretary Paul Chan Mo-po emphasized the need for a proper regulatory framework for Web3-related businesses.
More DetailsLesley O’Neill's appointment as Binance.US Chief Compliance Officer marks a strategic response to heightened SEC scrutiny, emphasizing the crypto industry's shift towards compliance and regulatory adherence.
More DetailsSociété Générale now engages in regulated crypto-related business activities.
More DetailsNomura's Laser Digital has launched an Ethereum Adoption Fund, focusing on institutional investors, with a strategy involving staking and regulated custody, aiming to increase institutional engagement in Ethereum investments.
More DetailsNasdaq is preparing to launch its custody services for digital assets by the end of Q2 2022, starting with Bitcoin and Ether. The exchange has applied for a limited-purpose trust company charter from the New York Department of Financial Services to oversee the new business and aims to eventually build a broad suite of services for its digital assets division. Its entry into the crypto market could potentially boost institutional investor confidence and pave the way for more traditional financial institutions to offer similar services.
More DetailsUS Treasury Secretary Janet Yellen pushed top US financial regulators to speed up regulations of stablecoin cryptocurrencies.
More DetailsSEC Commissioner Hester Peirce has publicly disagreed with the agency's refusal to amend the 1972 gag rule, raising concerns over its impact on free speech and regulatory integrity. The rule, which prevents defendants from criticizing SEC allegations post-settlement, is being challenged for its constitutional implications.
More DetailsGSR, a global cryptocurrency trading firm, has received In-Principle Approval for a Major Payment Institution licence from the Monetary Authority of Singapore (MAS). The approval allows GSR's Singapore subsidiary, GSR Markets Pte. Ltd., to better serve the cryptocurrency community. The news comes a day after Coinbase Singapore announced its full licence, highlighting the competitive yet regulated crypto landscape in Singapore.
More DetailsBittrex Global, a Liechtenstein-based cryptocurrency exchange, will cease operations on December 4, 2023, following regulatory challenges and legal proceedings, requiring customers to convert U.S. dollar holdings.
More DetailsThe FDIC has asked banks interested in acquiring failed U.S. lenders, Silicon Valley Bank and Signature Bank, to submit bids by March 17. The authority will only accept bids from banks with an existing bank charter, prioritizing traditional lenders over private equity firms. The FDIC has also required any buyer of Signature to agree to give up all cryptocurrency business at the bank. This news comes amid concerns expressed by U.S. Representative Tom Emmer that the federal government is “weaponizing” issues around the banking industry to go after crypto.
More DetailsSean Patrick Maloney, after serving in the U.S. House and on Coinbase's Advisory Council, faces scrutiny over potential conflicts in his OECD ambassador role, signaling a pivotal moment for crypto regulation.
More DetailsThe SEC's acknowledgement of errors in the Debt Box case highlights the significance of accuracy and candor in legal proceedings, impacting regulatory practices in the cryptocurrency sector.
More DetailsNomura's Laser Digital and WebN Group have unveiled the Libre protocol, a fund tokenization infrastructure powered by Polygon technology, set to launch in Q1 2024. The protocol aims to revolutionize the management and distribution of alternative investments, with Brevan Howard and Hamilton Lane as initial users.
More DetailsUnited States Treasury Secretary Janet Yellen is working with regulators to address the collapse of Silicon Valley Bank (SVB), one of the top 20 largest banks in the US. Yellen has stated that they are focused on protecting depositors, particularly small businesses that employ people across the country, and that they are considering a range of available options, including acquisitions from foreign banks.
More DetailsThe SEC has postponed its decision on the ARK 21Shares Bitcoin ETF till January 10, 2024, marking another delay in the approval process. Amid broader calls for swifter approvals, the SEC's meticulous review approach underscores the regulatory cautiousness enveloping cryptocurrency-based financial offerings.
More DetailsThe disclosure of 'Compensation Reserve Funds' by South Korean crypto exchanges, led by Upbit with KRW 20 billion, reflects the country's broader regulatory strides aimed at ensuring user protection, transaction transparency, and market discipline. This move aligns with the new regulatory framework set to be implemented in 2024, spotlighting the government's agenda to foster a robust infrastructure for digital assets, with the reserve fund mandate forming a cornerstone of this initiative.
More DetailsThe Australian Securities and Investments Commission (ASIC) has filed a case in the Federal Court against the online investing platform eToro Aus Capital Limited about the suitability of eToro's target market for contract for difference (CFD) products.
More DetailsMajor ETF issuers BlackRock and ARK Invest comply with SEC's cash redemption model for their spot Bitcoin ETFs, potentially paving the way for regulatory approval.
More DetailsChina is introducing a new national financial regulator as part of a governmental overhaul. The current banking and insurance watchdog, the China Banking and Insurance Regulatory Commission (CBIRC), will be abolished, and its responsibilities will be moved to a brand new administration. The new financial regulator will "strengthen institutional supervision, supervision of behaviors and supervision of functions." There was no specific mention of reforms for the crypto industry.
More DetailsCelsius Network, following bankruptcy court approval, is transitioning to a Bitcoin mining-focused entity to address regulatory challenges from the SEC.
More DetailsG. Kishan Reddy, India’s Union Minister of State (MoS) for Home Affairs disclosed that the nation would incorporate the standards of the Paris-based Financial Action Task Force (FATF) to deter terrorism by cutting off funding sources, especially cryptocurrencies.
More DetailsElon Musk's X plans to launch in-app payment services by mid-2024, indicating a shift from his previous crypto interests to fiat currency.
More DetailsCongress members question the enforceability of the Securities and Exchange Commission's Staff Accounting Bulletin 121, arguing it deviates from standard accounting practices, misrepresents custodians' responsibilities, and increases consumer risk.
More DetailsCircle CEO Jeremy Allaire has blamed the declining market capitalization of USD Coin (USDC) on the cryptocurrency crackdown by US regulators. Allaire cited global concern about the US banking system and regulatory environment as major factors.
More DetailsGermany’s financial regulator (BaFin) has moved to stop the operations of Shitcoins Club, a popular Bitcoin ATM operator in the country.
More DetailsThe China Securities Regulatory Commission (CSRC) has kickstarted the experimentation of a blockchain pilot for the equity trading industry in the country. Announced by the Beijing Local Financial Supervision and Administration, CSRC will be assisting the Beijing Equity Trading Center for the blockchain pilot.
More DetailsYield Protocol and Utopia Labs have recently disclosed the cessation of their current operations due to various factors. While Yield Protocol cites inadequate demand for fixed-rate borrowing and regulatory hurdles, Utopia Labs is pivoting away from its existing product, though it remains upbeat about the crypto sector.
More DetailsWith the new license from the EU regulator, DIFX is well-positioned to serve clients in European markets.
More DetailsNo real headlines except Korea regulators coming after Bithumb (which isn't a "new" news imo). Instead, I actually think was driven by miners selling.
More DetailsCryptocurrency exchange Bittrex will wind down its US operations due to regulatory and economic challenges. US customers are advised to withdraw their funds by April 30, 2023.
More DetailsThe government of Hawaii has recently announced its establishment of a regulatory sandbox for digital currency companies. The partnership between the Department of Commerce and Consumer Affairs, Division of Financial Institutions (DFI) and Hawaii Technology Development Corporation (HTDC) will see the launch of Hawaii’s first pilot program aimed for digital currencies.
More DetailsThe SEC has postponed its decision on several Ether ETFs, including Hashdex Nasdaq Ethereum ETF and Grayscale Ethereum Futures ETF, affecting the future of Ethereum-based financial products.
More DetailsThe US Securities and Exchange Commission (SEC) recently announced it has settled charges against blockchain startup Enigma MPC.
More DetailsThe US House Financial Services and Agriculture Committees, along with the Digital Assets, Financial Technology and Inclusion Subcommittee, and the Commodity Markets, Digital Assets, and Rural Development Subcommittee will hold joint hearings in May to establish regulatory clarity for the digital asset ecosystem. Representative Patrick McHenry, the House Financial Services Committee chairman, has announced that the hearings aim to establish a bill providing regulatory clarity to the crypto sector, which adds to the work on a bipartisan bill led by crypto-friendly Senator Cynthia Lummis and Senator Kirsten Gillibrand.
More DetailsCryptocurrency derivatives exchange dYdX is set to exit the Canadian market due to regulatory restrictions. The exchange will stop onboarding new Canadian users and move existing users to "close-only mode" over the next seven days, allowing them to only withdraw funds. dYdX is hoping for a change in the regulatory climate to resume services in the country.
More DetailsThe Tornado Cash token's value significantly decreased following Binance's delisting announcement, amid regulatory and market compliance issues in the cryptocurrency sector.
More DetailsCoinbase's Chief Legal Officer, Paul Grewal, has filed a formal response with the U.S. Court of Appeals for the Third Circuit, urging a mandamus order to compel the SEC to act on Coinbase’s rulemaking petition within 30 days, highlighting the SEC's prolonged inaction and the pressing need for regulatory clarity surrounding digital assets.
More DetailsCircle denies CfA's allegations of illicit financing and Justin Sun ties, emphasizing regulatory compliance and advocating for stronger stablecoin laws, as clarified by Dante Disparte.
More DetailsCoinbase 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.
More DetailsThe HKPF and SFC have formed a joint working group to enhance monitoring and investigation of illegal activities related to VATPs. The group aims to facilitate information sharing, assess risks, and collaborate on investigations. The move comes amid ongoing investigations into the unlicensed operations of the Dubai-based JPEX exchange.
More DetailsThe Thai Securities and Exchange Commission (SEC) has discovered a crypto scam where overseas companies are involved.
More DetailsCoinsquare executives have resigned following a settlement with the Ontario Securities Commission.
More DetailsSwiss crypto firm, Amun AG granted permission to market its exchange-traded products to several retails' clients within the EU. Cointelegraph has reported that this will help in expanding Switzerland's crypto offerings both globally and domestically.
More DetailsThe Financial Market Supervisory Authority (FINMA) in Switzerland has issued banking and securities dealers’ licenses to two new blockchain companies.
More DetailsBulgarian crypto broker, 5 Capital, has been offering financial services to investors without being approved by the Germany financial watchdog, federal financial supervisory authority (BaFin).
More DetailsHester Peirce, Commissioner of the Securities and Exchange Commission has continued her push for regulatory clarity on crypto and blockchain projects to encourage innovation in the US capital markets.
More DetailsBrazil’s regulator has approved the first ever Bitcoin exchange-traded fund in Latin America.
More DetailsThe United Kingdom’s Financial Conduct Authority (FCA) has proposed obligatory AML reporting requirements for crypto exchanges.
More Details