regulations
Alibaba Founder Jack Ma Criticizes Current Financial Regulations
Alibaba founder Jack Ma highlights the importance of fintech innovations over regulations.
Malaysian Authorities to Extend Crypto Regulations to Wallet Providers
The Malaysian Securities Commission plans to extend crypto regulations to wallet providers in the country owing to their importance in the cryptocurrency ecosystem.
MAS Proposes New Regulations to Tighten Crypto Business Activities
The Monetary Authority of Singapore (MAS) has published a consultation paper proposing a new set of regulations that may stiffen the emergence and activities of crypto industries in the country. Despite the proactive strides of the MAS towards the development of the country’s central bank digital currency (CBDC), the apex bank is set to reinforce its regulations on digital currencies.
Russia Updates Regulations on Crypto Transactions, Harsh Fines Reserved for Defaulters
Russia’s Ministry of Finance has issued an amendment to its current cryptocurrency regulations. The amendments also come with stricter sanctions.
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.
Binance Halts Certain Trading Pairs and Disables PayID AUD Deposits Amid Tightening Australian Regulations
In an ongoing adaptation to tighter Australian regulations, Binance, the world's largest cryptocurrency exchange, has announced significant changes affecting its Australian users.
Britain Eyes Becoming a Crypto Hub, Upgrading the Market by Adopting DLT
In pursuit of becoming a global crypto hub, Britain seeks to revamp the traditional financial market using distributed ledger technology (DLT), according to the finance ministry.
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.
Binance Adjusts Services in Turkey Following New Crypto Regulations
Binance announces significant changes to its services in Turkey to comply with new crypto regulations, including halting Turkish language options and direct marketing activities.
TaxBit CEO Lindsey Argalas Discusses Crypto Compliance and Innovations
In a recent interview, TaxBit CEO Lindsey Argalas delves into crypto compliance, IRS regulations, and the future of digital asset management.
Ex-Banker Ordered to Disgorge $3 Million in Illegal Insider Trading Profits
A former banker has been ordered to return $3 million in illegal gains from insider trading, according to the Securities and Futures Commission.
IOTA Strengthens European Blockchain Leadership Through Key Partnerships and Compliance
IOTA Foundation drives blockchain innovation in Europe with strategic partnerships and adherence to EU regulations, positioning itself as a leader in Web3 and sustainable DLT applications.
Binance to Remove Turkish Language Option Amid Regulatory Changes
Binance announces the removal of the Turkish language option from its website and app from September 27, 2024, to comply with new regulations in Türkiye.
Quantoz Launches Euro and Dollar-Backed Stablecoins EURQ and USDQ
Quantoz Payments introduces EURQ and USDQ, MiCA-compliant stablecoins, bridging traditional finance and blockchain under EU regulations, enhancing liquidity in digital markets.
Hong Kong Monetary Authority Penalizes China CITIC Bank for AML Violations
The Hong Kong Monetary Authority has fined China CITIC Bank International Limited HK$4 million for breaches of the Anti-Money Laundering and Counter-Terrorist Financing Ordinance.
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.
Ripple CEO Hopeful About US Crypto Regulatory Clarity
In a Twitter discussion, Ripple CEO Brad Garlinghouse expressed cautious optimism regarding US cryptocurrency regulation certainty in 2023. Ripple was sued by the SEC for selling unregistered XRP. Ripple refuted the charges, saying XRP is a money, not a security. The lawsuit has no end date.
PayPal Acquires UK Crypto License
PayPal has secured a cryptocurrency license from the UK's Financial Conduct Authority, marking a strategic move amid post-Brexit adjustments, and transitioning UK clients from PayPal Europe to a new UK-based entity.
Bitcoin ATM Installations Plunge in May, CoinRadar Data Shows
The ongoing ‘crypto winter’ is now reflected in the number of Bitcoin Automated Teller Machine (ATM) installations across the globe
Indonesia to Launch State-Backed Crypto Exchange by Mid-2023
Indonesia plans to launch a state-backed crypto exchange by mid-2023 to promote a more secure and transparent market, with greater regulatory oversight and investor protection.
Puerto Rico to Become a Prefered Destination for Crypto Investors, Establishing Friendly Taxation and Island Lifestyle
Under Act 60 or the Individual Investors Act, non-Puerto Rican residents get exempted from paying capital gains for investments realized, and this is one of the factors attracting crypto investors.
US, EU Regulators Vow to Remove Russian Banks from SWIFT Network
One of the latest sanctions from the western camp seeks to ban specific Russian banks from the Society for Worldwide Interbank Financial Telecommunication (SWIFT) in response to the Russian invasion of Ukraine.
US Banking Crisis Fuels Regulation Debate
The recent fall of major banks in the US has reignited discussions about the most effective ways to safeguard the economy. Economist Peter Schiff argues that increasing banking regulations could contribute to a worsening economic crisis, while a group of economists warns that nearly 190 US banks are at risk of depositor-driven collapse due to monetary policies.
Blockchain Firms To Benefit From SEC's Upward Review of Fundraising Limits For SMEs
The Securities and Exchange Commission has amended its maximum fundraising limit for Small and Medium Enterprises a move that will benefit smaller blockchain firms.
European Crypto Startups See Record VC Investment in 2022
Despite a challenging year for the crypto industry in 2022, VC investment in European crypto startups reached an all-time high of $5.7 billion, with decentralized finance startups seeing a 120% increase in investments. Europe is also home to the highest number of crypto startups, but lags behind the US in unicorns and startups with over $1 million in funding. Investment in financial service-based startups declined by 19% compared to 2021, while infrastructure grew by 24%. The EU's Markets in Crypto-Assets regulations are set for a final vote in April 2023.
UK NatWest Bank Restricts Daily Transfer Amount to Crypto Exchanges, Including Binance
To prevent the occurrence of fraud-related incidents, NatWest bank has tightened restrictions on crypto-related activities followed by the U.K. financial watchdog imposing restrictions on crypto exchanges.
Arab's Financial Security Publishes a Tentative Draft Resolution for Crypto Regulations
Securities and Commodities Authority in the United Arab Emirates released a draft containing their tentative resolutions on how the crypto market will be regulated.
World Economic Forum Releases GSMI Global Blockchain Standards
The World Economic Forum (WEF) has released blockchain standards dubbed the Global Standards Mapping Initiative (GSMI).
US Treasury and IRS Propose New Regulations on Digital Asset Reporting
The US Department of the Treasury and the IRS have issued proposed regulations to improve transparency and compliance in the digital asset sector. Starting Jan. 1, 2025, brokers must report gross proceeds, payee statements, and gain/loss and basis information for sales. The regulations aim to close the tax gap and ensure uniformity in tax rules.
India Sees a Step Backward as Lawmaker to Advocate Crypto Ban
An Indian Lok Sabha lawmaker, Nishikant Dubey, advocates that the nation should ban cryptocurrencies rather than embrace these nascent assets through regulation.
FCA Warns Crypto Businesses Fail to Meet UK’s Money Laundering Regulations Standard
The UK’s Financial Conduct Authority has disclosed that many crypto firms are withdrawing their applications to register with the agency.
Indonesia's State-Backed Crypto Exchange: An Analysis
Indonesia's state-backed crypto exchange aims to promote transparency, accountability, and investor protection. It is expected to boost crypto adoption.
Bitget Registers as a Service Provider in Lithuania
Bitget has registered as a service provider in Lithuania after meeting compliance standards with regional laws and regulations. Lithuania is an emerging digital asset market and a popular location for cryptocurrency and blockchain projects.
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.
Singapore Considers Enhancing Crypto Consumer Protection via Suitability Tests & Leverage Cuts
The Monetary Authority of Singapore (MAS) is weighing the option of propelling ways of protecting consumers trading cryptocurrencies through new measures like suitability tests.
Japan's Web3 Project Team Releases White Paper to Boost Crypto Industry
Japan's Web3 Project Team, a part of the country's ruling Liberal Democratic Party, has released a white paper with recommendations for expanding the country's cryptocurrency industry. The paper suggests modifications to tax regulations, establishing accounting standards, and creating a DAO law, among other proposals.
Tether Implements Wallet-Freezing Policy Aligned with US Regulations
Tether's wallet-freezing policy, in line with US OFAC regulations, is a proactive approach to cybercrime, setting a new standard in the crypto industry.
European Commission Moves to Tighten Rules on Cryptocurrency Transfers
The European Commission has announced that firms transferring Bitcoin and other cryptocurrencies must collect details of payers and payees to help regulators prevent the flow of dirty money.
Coinbase Counters Senator Warren's Allegations
Coinbase denies Sen. Warren's allegations of using ex-government officials to resist digital asset regulations, highlighting its commitment to responsible crypto regulation.
US SEC Hiring Attorneys for Crypto Assets and Cyber Unit
The US SEC is hiring general attorneys in New York, San Francisco, and Washington D.C. for its Crypto Assets and Cyber Unit in the Division of Enforcement. The job will involve investigating crypto asset securities and cyber issues, drafting subpoenas, and questioning witnesses. This move comes after the SEC chairman Gary Gensler asked for $2.4 billion in funding to chase down crypto misconduct.
Russian Federal Watchdog Censors Binance for Distributing Crypto-Related Data
Roskomnadzor has blacklisted crypto exchange Binance for what it deems as “containing information prohibited for distribution in Russia.
US SEC Commissioner Proposes 3 Year Securities Law Exemption for Crypto Projects
United States Securities and Exchange Commission (SEC) Commissioner Hester Peirce has doubled down on her recent suggestion to provide decentralized network developers a safe harbor and has now submitted a formal proposal.
US DOJ Launches National Crypto Enforcement Team
The US DOJ has unveiled establishing a National Cryptocurrency Enforcement Team (NCET), a law enforcement task force fighting crypto crime.
First China, Now Singapore; Local Regulations Pushing Huobi Out of Asian Markets
Digital currency trading platform, Huobi Global is shutting its doors to its Singapore-based users in a bid to comply with local regulations in the country.
FDIC Mandates New Signage for Digital Platforms Starting 2025
The FDIC has updated its signage requirements, mandating digital display of a new black and navy blue sign on websites, apps, and ATMs from 2025 to align with modern banking practices.
US CFTC Rounded Up Over $1.3B in Regulatory Penalties in 2019, 40% More Than the Previous Year
The US Commodity Futures Trading Commission (CFTC), the derivatives regulator in the US has collected over $1.3 billion in regulatory and administrative penalties in the fiscal year of 2019, including funds collected from cryptocurrency businesses, which ended on Sept. 30.
OKX to Halt Services in Canada Due to New Regulations
Cryptocurrency exchange OKX has notified its Canadian users that it will no longer provide services or allow new account openings in Canada, starting on March 24, 2023, due to new regulations. Existing Canadian customers must close open positions in options, margins, perpetual, and futures by June 22, 2023, and fiat or tokens must be withdrawn by the same date.
SEC Adopts Expedited Public Listing Review Process—Blockchain ETFs Could Qualify
The United States Securities and Exchange Commission has voted to adopt rule amendments to expedite the review procedure for companies applying for public listing, which could potentially create an expedited and cheaper application process for crypto and blockchain ETFs.
OKEx to Shut Down Its Crypto Business Operations in South Korea by April
OKEX intends to shut down its crypto branch in South Korea. According to sources familiar with the talks, the move is attributed to new anti-money laundering regulations in the country.
IRS Refuses Watchdog Request to Clarify 2019 Crypto Tax Guidelines
The Internal Revenue Service will not clarify how taxes work with cryptocurrencies and digital asset transactions in the US according to a US congress watchdog’s report released on Wednesday.
FTX Shares 10-Point Regulatory Proposals to American Congress
Cryptocurrency trading platform FTX Derivatives Exchange has published a 10-point regulatory proposal, aims at helping American regulators to provide better regulatory oversight of the broader cryptocurrency ecosystem.
Taiwan's Major Crypto Exchanges Form Association to Align with Upcoming Regulations
Taiwan's major crypto exchanges form an industry association to align with upcoming regulations by the Financial Supervisory Commission. The association aims to serve as a unified voice for the industry and facilitate effective communication with the government.
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.
Infrastructure Bill: Is Treasury Sec Against the Proposed Amendments?
US Treasury Sec is opposed to the pro-Bitcoin amendments to the infrastructure bill. Here are some insights behind the story.
Switzerland Begins Consultation Before Finalizing its Proposed Blockchain Law Amendments
Switzerland announced it has initiated a consultation process ahead of its plans to effect amendments in its extant laws to accommodate blockchain technology
Director of FinCEN Affirms That Cryptocurrency Industry Is in Line With Agency Regulations
The director of FinCEN (Financial Crimes Enforcement Network) Kenneth. A Blanco believes that the cryptocurrency industry is starting to fall in place with the agency’s regulations on money transmission services.
US NIST Initiates AI Safety Consortium to Promote Trustworthy AI Development
The US National Institute of Standards and Technology (NIST) has launched the Artificial Intelligence Safety Institute Consortium to promote safe AI development and responsible use, inviting organizations to collaborate on identifying proven safety techniques by December 4, 2023.
XRP Price Drops During Ripple Swell Conference
The XRP price looks set to continue a downtrend, while Ripple hosts the annual Swell conference which brings together world industry leaders and policymakers.
ADGM Launches Pioneering DLT Foundations Regime
Abu 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.
Bitcoin Recovers from Plunge Triggered by Confirmation Hearing for SEC Chair Nominee Gary Gensler
Bitcoin (BTC) dipped after Gary Gensler said that it was a challenge for the SEC to keep cryptocurrency markets free of fraud.
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.
Harbor Becomes First Blockchain Company to Hold Both Transfer Agent License and Brokerage License
Harbor, a digital assets firm for security token issuance, has been granted a transfer agent license by the United States Securities and Exchange Commission.
US Senator Pat Toomey Eyes Senate Banking Committee Chair and Digital Currency Regulations
United States Senator Pat Toomey said he will take on digital currency regulation and payments reforms should he become the Senate Banking Committee’s next chairman.
Vietnamese Government Developing Regulatory Framework for Crypto
The Vietnamese government is pushing to develop a legal and regulatory framework as the country seeks to establish its stance with respect to its press for a crypto economy.
Over 2.2M Crypto Accounts Set to Trade With Restrictions in South Korea as Exchange’s Deadline Looms
As the South Korea crypto registration deadline looms, over 2 million accounts will be subject to restrictions in trading on multiple exchanges.
ECB Publishes New Stablecoin-Featured Framework for Overseeing Payments
The European Central Bank (ECB) has released a new framework geared towards overseeing all forms of electronic payments in the region, including those bordering on stablecoins.
Nigeria Eyes New Regulatory Framework to Boost Crypto and Blockchain Adoption
Nigeria’s Ministry of Finance is collaborating with the nation’s capital market watchdog, to provide a new regulatory environment for the blockchain and crypto space.
Rio de Janeiro to Accept Crypto Property Tax Payment from 2023
Rio de Janeiro is gearing up to be the first city on Brazilian soil to accept tax payments in cryptocurrencies from 2023.
German Banks Authorized for Crypto Custody and Sales in 2020
In 2020, German banks will be legislatively authorized to sell and provide custody of cryptocurrencies as reported by German newspaper Handelsblatt.
Norway's Financial Regulator Seeks Legal and Investor Protection for Crypto Consumers
The Norwegian Financial regulator intends to strengthen supervision by protecting investors of crypto consumers.
eToro and Robinhood Modify U.S. Cryptocurrency Offerings Amidst Regulatory Changes
The global cryptocurrency landscape is witnessing significant shifts, with leading trading platforms, eToro and Robinhood, adjusting their U.S. cryptocurrency offerings. Both platforms are responding to the rapidly evolving regulatory environment in the United States, affecting popular cryptocurrencies such as Algorand (ALGO), Decentraland (MANA), Dash (DASH), Polygon (MATIC), Solana (SOL), and Cardano (ADA).
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.
Russian Crypto Advocates Urge Putin to Address Delayed Regulations
The Russian Association of Crypto Industry and Blockchain (RACIB) has written an open letter to President Vladimir Putin urging him to address the risks of delayed cryptocurrency regulations in Russia. The letter argues that Russia has been too slow to implement legal regimes for crypto adoption and highlights the potential complications of proposed amendments to the current crypto law.
Police Arrests 2 Suspects Involved in 2016 Bitfinex Hack
U.S. authorities have arrested a Manhattan-based couple identified as Lichtenstein and Morgan, suspected to be a part of the masterminds behind the 2016 Bitfinex exchange hack.
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.
OpenAI's ChatGPT Under GDPR Investigation in Italy: Facing 30-Day Defense Deadline
Italian Data Protection Authority, Garante, has raised concerns over potential GDPR violations by OpenAI's ChatGPT, requiring OpenAI to defend its processing of personal data for 30 days.
UAE Strengthens Crypto Regulations with New Framework
The UAE has announced a new regulatory framework for virtual assets, enhancing compliance and encouraging innovation within the crypto industry.
US Government Removes Cryptocurrency AML Provisions from NDAA
The US government has removed two AML provisions relating to cryptocurrencies from the NDAA, indicating a cautious approach to crypto regulation and raising concerns about future AML measures.
Reserve Bank of India Says Banks Are Authorized to Provide Accounts to Cryptocurrency Traders
The Reserve Bank of India recently responded to an information query, saying that Indian banks are not prohibited from dealing with crypto businesses.
Ugandan FIA Urges Central Government To Regulate Cryptocurrencies
Uganda's FIA urges the central government for comprehensive regulation of the digital currency industry nationwide.
Chinese Banks Embrace Crypto in Hong Kong
Chinese banks are collaborating with cryptocurrency companies in Hong Kong, providing account services and acting as settlement banks. Despite China's crackdown on crypto in the mainland, the country's state-affiliated banks are building partnerships in Hong Kong, taking advantage of the city's push to become a crypto hub.
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.
Cyprus Tightens Crypto Regulations with Hefty Penalties for Non-Compliance
Cyprus is tightening its cryptocurrency regulations by introducing hefty penalties for non-compliance. The government aims to align with international AML/CFT standards and has submitted a legislative amendment for review. All crypto service providers must register with CySEC, facing fines or imprisonment for non-compliance.
Huobi Global Moves its Central Operating Base to Gibraltar
Huobi Global, one of the world’s largest digital currency trading platforms has announced the move of its operational headquarters to Gibraltar, a small British enclave in the Southern part of Spain.
California Governor Signs Digital Financial Assets Bill, Tightening Crypto Regulations from July 2025
California Governor Gavin Newsom signed the Digital Financial Assets Law on October 13, 2023, initiating a robust regulatory framework for cryptocurrency activities in the state from July 1, 2025. The law necessitates licensure from the Department of Financial Protection and Innovation for individuals and businesses dealing in digital assets. This regulatory shift, contrasting Newsom’s earlier stance in 2022, aligns with broader national trends towards formalizing digital asset transactions to curb fraud and enhance consumer protection.
US Senators Made Bipartisan Compromise on Crypto Clause in Infrastructure Bill
The group of Senators pushing for amendments to the Infrastructure Bill has arrived at a compromise as confirmed in a press conference held on Monday.
Bitcoin ATM Operators Joins Forces to Float New Compliance Cooperative
A group of crypto industry Bitcoin ATM operators and firms have floated the Cryptocurrency Compliance Cooperative to bolster regulatory compliance.
Sango Coin Listing Delayed in Central African Republic
The launch of the Central African Republic's Sango Coin has been postponed for a few weeks due to legal and regulatory obstacles. The Sango Project, which is behind the initiative, stated that the delay is necessary to ensure compliance with all relevant regulations.
New York State Watchdog Orders Two Crypto Firms to Close Operations, Launching Further Investigations
The Office of the New York Attorney General (NYAG) has directed two unnamed crypto lending firms to halt their operations in the state, indicating these firms are involving ineffective registration.
Approach to Crypto Regulation is More Proactive: CFTC Chair
Rostin Behnam, the Chairman of the CFTC, has revealed that the commission is more than ready for regulatory oversight of the digital currency ecosystem as the industry evolves.
Nigerian President-elect's Manifesto Includes Blockchain and Crypto Regulations
Nigerian President-elect Bola Tinubu has released a manifesto proposing the implementation of blockchain technology and cryptocurrencies in Nigeria's banking and finance sector. The manifesto suggests reforming existing Nigerian Security Exchange Commission regulations to create a more business-friendly framework for regulating digital assets. The proposed regulations would require digital asset companies to register with the SEC and comply with SEC regulations. The release of the manifesto coincides with the increasing adoption of cryptocurrencies in Nigeria, with the government hoping that the proposed SEC regulation reforms will attract more investors in the digital and economic sectors and stimulate economic growth.
Binance Temporarily Suspends SEPA Euro Bank Deposits, Citing Events Beyond Its Control
Cryptocurrency exchange Binance is facing increasing hurdles in Europe. The financial institution announced to temporarily suspend Euro bank deposits through the Single Euro Payments Area (SEPA) network.
Russian Policy Boss Wants to Block Cryptocurrencies, Says They Are Difficult to Regulate
Anatoly Aksakov, head of the State Duma Financial Market Committee, stated that the country should explore other options for crypto regulation.
Brazilian Lawmaker Advocates for Workers to Receive Payment in Crypto
Brazilian Federal lawmaker, Luizão Goulart has proposed a bill that will see both government and private employees receive their remuneration in digital currencies.
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.
Coinbase and Binance Amongst the 70 Crypto Firms Awaiting Licensing, Said by MAS
American cryptocurrency trading platform, Coinbase and Binance exchange, two of the world’s largest digital currency brokerages are notably amongst the few platforms awaiting license approval from the Monetary Authority of Singapore (MAS).
South African Regulator to Unveil Consumer Protection Regulations in Early 2022
The South African Financial Sector Conduct Authority is on track to unveil an encompassing regulatory framework that is targeted at protecting consumers from scams emanating from the digital currency ecosystem.
Mastercard Enables USDC Spending in Asia
Mastercard has partnered with Stables to allow retail customers in the Asia-Pacific region to spend and save USDC through its network. Meanwhile, worldwide banking turmoil has not slowed the blending of traditional and decentralized finance (DeFi). Global payment provider Mastercard has expanded its partnership with the Australian stablecoin platform, Stables, to enable retail customers in the Asia-Pacific region to spend and save USDC anywhere Mastercard is accepted. The wallet will accept deposits in several stablecoins, including Tether (USDT) and Binance USD (BUSD), with all deposits automatically converted into USDC. This move comes as worldwide banking turmoil and regulatory crackdowns continue to impact the crypto space.
US House Committees To Hold Joint Hearings On Digital Asset Regulations
The 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.
OKX Introduces Mandatory Risk-Awareness Questionnaires for UK Users
OKX aligns with UK financial regulations by introducing mandatory risk-awareness questionnaires for its users, fostering responsible cryptocurrency trading and informed decision-making.
Binance CEO Clarifies Details on CommEx Integration
Binance CEO, CZ, sheds light on Binance's association with CommEX through a tweet. Cryptocurrency transfers are ongoing, with potential ex-Binance team members joining CommEX. Amid regulatory challenges, Binance sells its Russian operations to CommEX but remains optimistic about global prospects.
Circle Formally Refutes Allegations of Illicit Financing and Connections to Justin Sun
Circle 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.
The Federal Council of Switzerland Opts For Better and Fair Blockchain Regulations
The Federal Council of Switzerland has opted for better and fair regulations for blockchain and distributed ledger technology (DLT) in the country, which is believed will minimize risk, increase legal certainty and abort blockages, which will prevent the possible applications of blockchain/distributed ledger technology.
Heads of SEC, CFTC and FinCEN Jointly Warn Crypto Industry to Follow Regulations
The heads of the three major US financial regulators have issued a joint statement warning the cryptocurrency industry to adhere to banking regulations in the development of digital assets.
Hong Kong’s Securities and Futures Commission Sets New Regulations for Crypto Exchanges
The Securities and Futures Commission, Hong Kong’s financial regulatory has set out new regulations for Bitcoin and cryptocurrency exchanges on Oct. 6. Announced by Ashley Alder, Chief Executive of the Hong Kong SFC made an announcement in his speech at the Hong Kong FinTech Week 2019. Following his speech, the SFC also published a new regulatory approach to “virtual asset trading platforms,” on its website.
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.
Congress Members “Express Concern” Over Treasury’s Potential Crypto Wallet Regulations
Four members of Congress have expressed concerns in a letter to the US Treasury Secretary Steven Mnuchin, over their rumored self-hosted crypto wallet regulation ban.
Nigerian Securities Commission to Release Official Guidelines on Crypto Regulations
The Nigeria Securities and Exchange Commission has announced a proposed crypto regulation guideline.