Regulating the Metaverse: BIS's Call for Unity
BIS emphasizes the need for interoperable payment technologies and robust regulatory framework to prevent metaverse fragmentation and private interests dominance, emphasizing Central Bank Digital Currencies' importance.
FTX's Restructuring Plan: Aiming for Full Customer Repayment Without Relaunching Exchange
FTX aims to fully reimburse its customers and creditors as part of its restructuring plan. This approach, focusing on repayment without relaunching the exchange, is based on valuations of assets as of November 2022, drawing mixed reactions from the crypto community.
Decline in Crypto Crime: Insights into 2024 Trends and Challenges
2024 sees a notable decline in crypto crimes, with hacking and scamming activities reduced. However, ransomware and darknet markets show resurgence, emphasizing the need for enhanced security and regulatory measures in the crypto industry.
Meta's Digital Assets Expansion: A Scrutiny by Maxine Waters
Congresswoman Maxine Waters scrutinizes Meta's trademark applications, filed in March 2022, suggesting the company's continued involvement in the digital assets ecosystem, despite previous assurances of no ongoing projects in this area.
Canada Tightens Crypto Asset Regulations for Public Investment Funds
The Canadian Securities Administrators propose regulatory changes for public investment funds handling crypto assets, focusing on custodianship standards and limiting direct crypto dealings to specific fund types.
IRS Delays Crypto Reporting Requirements for US Businesses
The IRS delays enforcing crypto transaction reporting requirements for US businesses, pending a comprehensive regulatory framework. This follows the crypto community's concerns over the practical challenges of complying with the Infrastructure Investment and Jobs Act's rules.
GameStop Phases Out NFT Platform in Response to Regulatory Challenges
GameStop has announced the closure of its NFT marketplace, citing regulatory uncertainty. Effective from February 2, 2024, the platform will cease operations but assures that NFTs remain accessible on the blockchain.
FTX's Bankruptcy Plan Leaves Customers Struggling Amid Crypto Market Revival
The contrast between FTX's ongoing bankruptcy proceedings and the broader crypto market's revival underscores the volatility and risks in the cryptocurrency industry.
BitGo Secures MPI License Approval in Singapore
BitGo has received in-principle approval for a Major Payment Institution (MPI) license from Singapore's MAS, allowing it to expand its crypto services in the region. This aligns with Singapore's robust regulatory standards and BitGo's commitment to security in digital asset transactions.
Upbit Singapore Secures MAS's MPI Licence
Upbit Singapore receives a Major Payment Institution license from MAS, marking a key step in its expansion and compliance with Singapore's regulatory standards in the digital asset sector.