cryptocurrency user protection act
South Korea's Crypto Protection Law Advances in Assembly
In a landmark move for South Korea's cryptocurrency sector, the Cryptocurrency User Protection Act (also known as the Cryptocurrency Investor Protection Law) has successfully passed through the Legal Affairs Committee, marking a momentous milestone in the legislative process for digital assets.
EARN IT Act Introduced in US House of Representatives, Critics View It as Threat—What This Means for Crypto
Despite being perceived as an “anti-security bill” by many, the EARN IT Act has made its way to the US House of Representatives and currently awaits approval.
Binance Reaching a Larger User Base by Applying for Singapore’s New Crypto License
Crypto exchange Binance has applied for a license in Singapore under the country’s Payment Services Act, a new framework that came into effect on Jan. 28.
Singapore Payment Services Act Now in Effect For Crypto Firms
The Monetary Authority of Singapore now requires cryptocurrency providers and exchanges to be licensed under some of the same regulatory elements as traditional financial service providers.
US Congressman Set to Implement the Cryptocurrency Act of 2020
Paul Gosar of the House of Representative introduced the “Crypto-Currency Act of 2020,” on March 9, a bill that is set to choreograph a wide range of digital assets to be liable to the appropriate regulatory bodies and agencies assigned to it.
US House of Representatives Passes Blockchain Innovation Act On to the Senate
Two bills introduced by Rep Darren Soto—the Digital Taxonomy Act and the Blockchain Innovation Act—have passed the Lower House and are on their way to the Senate.
Square Wants Less Technical User-Friendly Cryptocurrency Wallets
Square Crypto, the cryptocurrency arm of the online payment service provider Square Inc is set to fund the development of crypto wallets with enhanced UX.
Crypto User Scammed Out of $20,000 on Fake Uniswap App
A user has lost $20K after placing his private key backup phrase in a fake Uniswap mobile app available on the Google Play store.
Coinbase and Venmo Users Angered by Privacy Issues—Fintech Firm Faces Second Class Action Lawsuit
A second lawsuit has been filed against the fintech company Plaid, for violating user data privacy agreements they hold with major financial accounts that use Coinbase and Venmo.
China’s Supreme Court Decides to Strengthen the Protection of Cryptocurrency Property Rights
The Chinese Supreme Court has decided to strengthen cryptocurrency property rights. China’s Supreme Court is looking to further protect property rights, including economic property rights through different ownership systems in accordance with the law.
Ethereum User Pays $9,500 In Transaction Fees to Send $120 of ETH
An Ethereum user has found himself paying $9,500 in transaction fees to send only $120 of Ether.
US Congress Encouraged to Regulate Crypto Sector Under Bank Secrecy Act
A Washington DC-based strategic advisory firm, the Financial Integrity Network (FIN), pushed the United States Congress to regulate firms in the cryptocurrency sector under the Bank Secrecy Act (BSA).
Samsung Launches New Secure Element Chip to Enhance Data Protection for Crypto Transactions
South Korean tech giant Samsung has announced a new revolutionary turnkey security solution to secure cryptocurrency transactions on its smartphones and tablets. Cryptocurrency transactions are one of the primary purposes of Samsung’s new Secure Element chip, which is expected to be available in Q3 2020. The solution involves a Secure Element (SE) chip S3FV9RR, which is Common Criteria Evaluation Assurance Level (CC EAL) 6+ certified. The new SE chip along with enhanced software is designed to offer higher protection for tasks including booting, isolated storage, mobile payment, and other applications.