South Korea is tightening crypto rules, with potential life sentences for serious offenders. The new law, starting in July, targets illegal activities in the crypto market, like fraud and manipulation. The Financial Services Commission (FSC) of South Korea announced tough penalties, including jail time and hefty fines, for breaking the crypto law. Offenders could face…
Hong Kong, a global financial hub, is introducing regulations for over-the-counter (OTC) crypto trading platforms to enhance transparency and protect investors in the digital asset market. The Financial Services and the Treasury Bureau (FSTB) announced plans for a new regulatory framework in response to rising concerns over risks, including involvement in fraud cases, associated with…
Securities regulators in Canada are suggesting new rules to bring more clarity and reduce risks for public investment funds involved in crypto assets. The proposed changes aim to limit the actions that public investment funds can take with cryptocurrencies and establish specific standards for holding these digital assets. Proposed Crypto Regulations for Canadian Investment Funds…
Turkey is almost finished with its technical work on rules for digital assets, and the draft rules will be out soon, confirmed the country’s finance minister, Mehmet Şimşek. These rules will focus on digital asset exchanges and aim to safeguard investors while establishing operational standards. The minister shared this information in an interview with the…
On Wednesday, the Securities and Exchange Commission approved important applications from markets wanting to introduce these innovative products. Starting Thursday, these ETFs will be available for trading. For more than ten years, the asset management industry has been working on introducing a regular Bitcoin ETF. There’s optimism that this move will attract more investors to…
Singapore’s central bank and financial regulator, the Monetary Authority of Singapore (MAS), has introduced stronger regulations. These measures aim to improve the rules that oversee financial activities in the country. Singapore’s central bank and financial regulator, the Monetary Authority of Singapore (MAS), has introduced stronger regulations to protect individuals and restrict their involvement in cryptocurrency…
Taiwan is moving towards cryptocurrency regulation with a new law proposal. If this proposal becomes law, all crypto platforms in Taiwan will have to obtain permits to operate. Although the timeline for the second reading is not set, the initial reading of the draft law has passed in Taiwan’s parliament, the Legislative Yuan. Yung-Chang Chiang,…
California Governor Gavin Newsom has approved a bill that introduces regulations for the cryptocurrency industry in the state. These regulations mandate that companies in the crypto sector must acquire a license to operate. Governor Gavin Newsom of California signed a bill on Friday to regulate cryptocurrencies within the state. This bill was approved by California’s…
David Hirsch, the person in charge of making sure people follow the rules for cryptocurrencies at the SEC, has mentioned that besides Coinbase and Binance, there are other places where people are not following the rules when it comes to exchanges and DeFi. The person in charge of making sure that crypto businesses follow the…
In a significant move, European Parliament lawmakers have voted overwhelmingly in favor of a continent-wide tax-reporting rule for cryptocurrency transactions. With nearly 90% of votes supporting the measure, this decision underscores Europe’s commitment to combating fraud in the growing crypto market. During a plenary session held in Strasbourg, France, on September 13, European legislators expressed…