Regulation News

Argentina, government has introduced mandatory registration requirements for crypto firms. The Comisión Nacional de Valores (CNV), Argentina’s securities regulatory authority, announced that virtual asset service providers must comply with the new regulations designed to enhance the country’s Anti-Money Laundering (AML) and Combating the Financing of Terrorism (CFT) framework.  This move aligns with the recommendations from…

Singapore has made progress in its regulatory framework for the engaging cryptocurrency industry, evidenced by its changes to its offense of payment services that involve custody of digital assets and a wider range of firms involved in fund transfer. During the 2024 hearings, Singapore’s policy of becoming a leading global destiny for cryptocurrency institutions shall…

Deribit has announced its plans to relocate its headquarters to Dubai. This strategic decision comes after Deribit FZE, the Dubai subsidiary of the Deribit group, secured a Virtual Asset Service Provider (VASP) license from Dubai’s Virtual Asset Regulatory Authority (VARA).  This development marks a pivotal moment for Deribit, known for facilitating trades in Bitcoin and…

Amidst the breakthrough in Hong Kong’s cryptocurrency-monitoring/” target=”_blank” rel=”noopener”>cryptocurrency infrastructure, HKVAEX, a local digital asset trading platform, made its intermittent closure plan public, resulting in a final shutdown on May 1st, 2024. This decision occurred amid the ongoing pressure for regulatory oversight of the cryptocurrency industry, following the region’s example of Hong Kong. Regulatory scrutiny…

Let’s cut to the chase. The crypto industry just got hit with a bombshell that’s got everyone from day traders to big-time execs sweating bullets. The heart of the matter? A U.S. court just gave Coinbase, a giant in the crypto playground, a hard no on their attempt to swat away the SEC’s lawsuit. This…

Here we go again, folks. It seems like the drama between the United States Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC) just got a new episode, and it’s all about KuCoin this time. Caroline Pham from the CFTC threw the first punch by hinting that their latest move on the…

The authorization of a specific industry group by the Ministry of the Interior is an essential step in the oversight and management of Taiwan’s cryptocurrency sector. Establishing a more organized structure is the goal for many in the local crypto community, making this achievement significant for their progress. This decision to approve the formation of…

Revolutionizing Crypto Regulation in Estonia: A New Era The tiny Baltic nation of Estonia has taken the crypto industry by storm with its groundbreaking efforts in crypto regulation. Known for its digital savvy and e-residency perks, Estonia is set to bring crypto service providers under the watchful eye of the Financial Supervision Authority (FSA), marking…

Miles Jennings’ Critique of SEC’s Handling of Crypto Regulation: A Turning Point in the Debate Over Crypto Regulation Background and Context of Miles Jennings’ Critique Miles Jennings, General Counsel at a16z Crypto, one of the world’s leading venture capital firms, has recently delivered a scathing critique of the United States Securities and Exchange Commission (SEC)…

Bipartisan Progress Towards Stablecoin Regulation in the U.S. Congress: A Look into the Ongoing Efforts The world of cryptocurrencies and stablecoins has been under close scrutiny by U.S. lawmakers, with representatives from both houses of Congress making significant strides towards the introduction of a stablecoin bill during the current legislative year. The latest updates on…

In a noteworthy development that is poised to redefine the cryptocurrency sector in Uzbekistan, the National Agency for Prospective Projects (NAPP) has revealed a new mandate aimed at amplifying the monthly operational fees for participants in the crypto market. This announcement was made public on Tuesday, March 19, 2024. Background: A Revised Fee Framework The…

Unified Call for Regulatory Clarity: Industry Players and Advocacy Groups Urge SEC to Establish Guidelines for Cryptocurrency Markets In an attempt to address the regulatory ambiguity plaguing the cryptocurrency space, a coalition of prominent industry players and advocacy groups have rallied together, urging the United States Securities and Exchange Commission (SEC) to establish comprehensive guidelines….

To Strengthen Oversight, Prevent Financial Crime, and Simplify Regulatory Procedures: The United Kingdom’s Treasury has recently announced a consultation paper detailing substantial updates to the money laundering regulations, with a primary focus on regulating crypto assets. Introducing a New Era of “Smarter Regulation”: The proposed modifications stem from a review of the Money Laundering, Terrorist…

Revolutionizing Financial Regulations: Dubai International Financial Center (DIFC) Introduces the World’s First Digital Assets Law The financial landscape is undergoing a significant transformation, with technological advancements leading to new opportunities and challenges in international trade and finance. In response to these developments, Dubai International Financial Center (DIFC), a leading financial hub based in the United…

Amidst the growing interconnectedness of the digital economy and traditional financial systems, the Hong Kong Monetary Authority (HKMA) is taking decisive actions to establish a regulatory framework for stablecoin issuers within the region. Understanding the significant risks and opportunities posed by the burgeoning virtual asset market, the HKMA’s regulatory endeavors aim to strike a balance…

Coinbase’s Legal Battle with the SEC: Petitioning for Crypocurrency Industry Rulemaking In a significant development in an ongoing legal dispute between cryptocurrency exchange Coinbase and the United States Securities and Exchange Commission (SEC), Coinbase has taken its fight a step further by filing a petition in the Third Circuit Appeals Court to compel the SEC…

The Securities and Exchange Commission (SEC) of Thailand has announced a major development in the realm of cryptocurrency investment, granting institutional investors and very high-net-worth individuals access to crypto exchange-traded funds (ETFs). This landmark decision represents a significant departure from previous regulations and signals an increasing acceptance of digital assets within the traditional financial landscape….

U.S. President Joe Biden’s recently unveiled budget proposal for the fiscal year 2024 includes several measures targeting the cryptocurrency sector, which the administration believes could potentially generate substantial revenue for the government. The proposals revolve around extending existing financial regulations to digital assets and enforcing stricter reporting requirements. Application of Wash Sale Rules to Digital…

Title: Mathew White, CEO of Dubai’s Virtual Asset Regulatory Authority (VARA), Discusses the Imperative Role of UAE Banking Sector in Embracing Virtual Assets and Institutional Players Mathew White, the charismatic CEO of Dubai’s Virtual Asset Regulatory Authority (VARA), recently shared his insights on the current state and future plans of the virtual asset ecosystem in…

Central Bank of Nigeria’s Strategic Partnership with Gluwa: A Leap Forward for eNaira Adoption and Revolutionizing Credit The Central Bank of Nigeria (CBN) recently announced an exciting new collaboration with Gluwa, a blockchain credit infrastructure company. This strategic alliance is designed to enhance the adoption of the CBN’s digital currency, eNaira, by utilizing Gluwa’s innovative…