November 21, 2024 at 03:35 PM GST updated: November 21, 2024 at 01:49 PM 2 mins read News BitClave investors receive $4.6 million repayment after SEC settlement over 2017 ICO. SEC’s action against BitClave highlights broader crypto enforcement efforts under the Biden administration. BitClave committed to burning unissued tokens and delisting CAT to comply with…
“Post-financial crisis regulation is over,” a top U.S. lawmaker has declared, calling for urgent reforms to digital asset oversight, regulatory transparency, and leadership accountability at federal agencies. Lawmaker’s Warning Signals Major Shake-up for Financial Oversight Agencies House Financial Services Committee Chairman Patrick McHenry criticized federal regulators during a Wednesday hearing, calling for updated financial oversight…
November 13, 2024 at 11:20 AM GST updated: November 13, 2024 at 11:15 AM 2 mins read News Italy cuts proposed crypto tax rate from 42% to 28%, aiming to support digital asset growth. Coalition proposes crypto tax reform, seeking a balanced approach for investment appeal and revenue. New crypto policy may include education and…
The Central Bank of Brazil is preparing to open the cryptocurrency market to traditional finance institutions, which will be able to operate in this industry with clarity after the enactment of the upcoming regulation. Small crypto startups might face challenges in regularizing their situation due to the high bar this framework will impose. Central Bank…
November 9, 2024 at 04:35 PM GST updated: November 9, 2024 at 04:00 PM 2 mins read News Flare and Red Date’s trial enables anonymous, KYC-compliant stablecoin access for Mainland Chinese visitors. RealDID integration in Hong Kong offers secure, document-free stablecoin access aligned with local regulations. New trials tap into Hong Kong’s $10B visitor market,…
November 7, 2024 at 07:50 PM GST updated: November 7, 2024 at 07:37 PM 2 mins read Crypto Live News SEC challenges Kraken’s claims of unclear crypto regulations in court, seeking to dismiss key defenses. Court denies Kraken’s major questions defense, supporting SEC’s view on securities law applicability. SEC seeks to limit discovery scope in…
November 7, 2024 at 12:40 PM GST updated: November 7, 2024 at 11:45 AM 2 mins read News Trump’s win fuels hopes for crypto-friendly laws, with experts predicting a lighter regulatory touch. Bitcoin hits ATH as investor optimism surges, driven by institutional interest and U.S. debt concerns. Crypto market momentum builds on Bitcoin Halving and…
The issuer of USDC has been working constantly to expand its adoption and usage worldwide, it is second most used after USDT. According to a regional media outlet, the Chief Executive Officer of Circle, Jeremy Allaire sees Hong Kong as a major market for USDC. Additionally, it reported that the company is planning to expand…
November 4, 2024 at 12:35 PM GST updated: November 4, 2024 at 10:56 AM 2 mins read Crypto Live News Circle eyes expansion in HK and is awaiting new stablecoin regulations to guide next business steps. Circle partners with HKT and is planning blockchain-based loyalty solutions for HK merchants. Upcoming HK regulations may reshape stablecoin…
Web3 gaming company Immutable faces a potential lawsuit from the SEC over its IMX token sale. Regulation by Enforcement Web3 gaming company Immutable announced on Nov. 1 that it had been issued a Wells notice by the U.S. Securities and Exchange Commission (SEC). The notice alleges, but does not specify, violations of securities laws and…
October 31, 2024 at 02:20 PM GST updated: October 31, 2024 at 12:30 PM 2 mins read News Stablecoins now drive significant Treasury bill demand, with $120B in collateral tied to T-bills and repos. Treasury warns of stablecoin risks, noting past financial crises and potential for T-bill market disruptions. Tokenization of T-bills via blockchain is…
October 30, 2024 at 01:50 PM GST updated: October 30, 2024 at 11:14 AM 2 mins read News Paxos CEO warns U.S. risks losing financial influence without blockchain and stablecoin regulations. Cascarilla calls for bipartisan action, urging stablecoin policy to maintain U.S. competitive edge in finance. Blockchain tech could boost U.S. financial inclusion, but regulatory…
The government of Hong Kong is on the verge of completing stablecoin regulations to become a more friendly hub for cryptocurrency investments. In addition, authorities stated that they have been considering extending crypto tax cuts to more investors. Hong Kong to Finalize Stablecoin Regulation, Talks New Tax Breaks for Cryptocurrency Investors Hong Kong is poised…
The Financial Industry Regulatory Authority has released a report highlighting the potential benefits and risks of the metaverse for the securities industry. The report emphasizes the importance of addressing challenges identified to ensure the responsible and ethical development of metaverse applications. Firms Must Weigh Challenges in Metaverse Adoption While the metaverse is said to provide…
A U.S. Securities and Exchange Commission (SEC) commissioner has urged the U.S. to adopt a more proactive approach to crypto regulation, pointing to the leadership of Indo-Pacific nations like Japan, Singapore, and Hong Kong. He emphasized that these countries have crafted clear frameworks that foster innovation while protecting investors, in contrast to the U.S., where…
October 24, 2024 at 12:35 PM GST updated: October 24, 2024 at 11:41 AM 2 mins read News Bernstein projects Bitcoin to reach $200K by 2025, driven by institutional demand and limited supply. Bitcoin’s scarcity makes it a strong inflation hedge, with rising U.S. debt boosting its long-term value. Spot Bitcoin ETFs and mining firms…
October 24, 2024 at 11:50 AM GST updated: October 24, 2024 at 11:35 AM 2 mins read News Denmark will impose a 42% tax on unrealized cryptocurrency gains starting January 2026. The new tax policy will apply to crypto gains from as far back as Bitcoin’s 2009 inception. Crypto exchanges must report transactions as Denmark…
October 23, 2024 at 01:50 PM GST updated: October 23, 2024 at 02:27 PM 2 mins read News Paolo Ardoino urges balanced U.S. crypto regulations, highlighting consumer safety and innovation support. Tether’s CEO stresses global compliance and cooperation with 45 law enforcement agencies, including the FBI. Tether explores commodity trading, aiming for faster capital access…
October 23, 2024 at 02:10 PM GST updated: October 23, 2024 at 12:43 PM 2 mins read News Ripple CEO Garlinghouse endorses pro-crypto lawyer John Deaton, challenging Warren’s regulatory stance. Crypto industry leaders like Elon Musk and Brian Armstrong back Deaton’s bid to unseat Senator Warren. Deaton’s campaign highlights the rift between crypto advocates and…
Coinbase CEO Brian Armstrong and Tesla CEO Elon Musk have voiced their support for pro-crypto Senate candidate John Deaton in his race against Elizabeth Warren. Armstrong warned that Warren, a vocal crypto critic, has pushed harmful regulations and backed U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler’s efforts to curb the industry. Musk signaled…
The enforcement-heavy approach of the U.S. Securities and Exchange Commission (SEC) to crypto regulation is stifling innovation and leaving the market without clear standards, an SEC commissioner has warned. Criticizing the reliance on litigation, he argued that case-by-case enforcement delays the creation of a consistent regulatory framework, depriving investors and innovators of necessary guidance. He…
Cryptocurrency industry members in Argentina expressed their opinions regarding a new draft that proposes restrictions on the operation of crypto institutions in the country. If the draft is approved, each institution will register with a minimum capital amount to operate on Argentine soil. Argentina Submits Draft for VASP Rules to Public Consultation Argentina is innovating…
October 21, 2024 at 04:10 PM GST updated: October 21, 2024 at 03:23 PM 2 mins read News DPP plans a 20% flat tax on crypto, aiming to simplify transactions and boost Japan’s digital economy. Tamaki vows no tax on crypto swaps, promoting innovation as DPP gears up for Japan’s October 27 election. DPP’s crypto-friendly…
October 21, 2024 at 01:45 PM GST updated: October 21, 2024 at 11:59 AM 2 mins read News Elon Musk mentions XRP publicly for the first time, highlighting crypto’s role in decentralization. The XRP community reacts with excitement as Musk’s comment fuels speculation about future integration. Despite speaking on XRP, Musk’s loyalty remains with Dogecoin,…
The following is a guest post by Anil Oncu, CEO of Bitpace. Since its inception in 2020, the European Union’s Markets in Crypto-Assets (MiCA) regulation has shed a new light on the European crypto industry. While many have considered the continent a less important player, the fledgling regulation has introduced a new narrative—one where Europe…
Brad Garlinghouse, CEO of Ripple, a payments and cryptocurrency service provider, has praised the state of cryptocurrency regulation in Brazil, one of the largest crypto markets in Latam. In an interview with Valor Economico, Garlinghouse highlighted the central bank’s work to make Brazil an enticing destiny for crypto companies. “Brazil is one of the fastest-growing…
October 18, 2024 at 03:10 PM GST updated: October 18, 2024 at 02:16 PM 2 mins read Crypto Live News SEC appeals XRP case ruling, challenging decisions on non-institutional and executive sales of Ripple’s token. Ripple to counter SEC’s appeal, aiming to defend court ruling that favored its digital asset transactions. Legal battle between SEC…
October 15, 2024 at 06:20 PM GST updated: October 15, 2024 at 05:17 PM 2 mins read News Hong Kong police dismantle a $46M crypto scam using deepfake AI, arresting 27 suspects across Asia. The syndicate used AI-generated personas to lure victims into fake crypto investments, defrauding millions. Victims believed they were in genuine relationships,…
Utah Republican senator Mike Lee outlined three major regulatory risks to the cryptocurrency industry at the recent Permissionless III crypto conference. They are the creation of a central bank digital currency (CBDC), fragmented state regulations, and heavy federal oversight. He warned these could threaten the digital assets sector, saying, “Cryptocurrency is not a security. Cryptocurrency…
Ripple’s CEO has intensified criticism of the U.S. Securities and Exchange Commission (SEC), accusing the agency of ignoring a court ruling that XRP is not a security and overstepping its legal bounds. His remarks came after Bitnomial Exchange filed a lawsuit against the SEC, disputing the regulator’s authority over XRP futures. The case adds to…
The Web3 industry has yet to fully enter the mainstream, according to John Nahas, chief business officer (CBO) of Ava Labs. He argues that general-purpose Layer 1 blockchains, whose primary focus is marketing their tokens, dominate the space and lack sufficient innovation. This, Nahas contends, hinders the industry’s full potential. Blockchain Success Hinges on Curious,…
Elizabeth Warren has been a major political figure in Massachusetts for over a decade. While she’s known for championing consumer protection and taking on big banks, her stance on modern financial innovation—particularly her aggressive opposition to cryptocurrency—shows that her leadership is increasingly out of touch with today’s fast-changing economy. Massachusetts needs fresh leadership that embraces…
Artificial Intelligence and Web3, are powerful technologies which when combined can create smarter and more decentralized systems, Mario Casiraghi, the co-founder of Singularity DAO, has asserted. Although both technologies have developed separately, Casiraghi argues that their combined strengths can help address limitations like centralized control and data inefficiencies. Clearer Regulations Could Boost AI and Web3…
October 11, 2024 at 07:15 PM GST updated: October 11, 2024 at 05:58 PM 5 mins read Press Release As regulatory pressure tightens in the crypto world, not all digital assets are faltering. Some alternative coins are showing resilience and promise for substantial growth. This article uncovers three cryptocurrencies poised to thrive despite the increasing…
October 11, 2024 at 11:15 AM GST updated: October 11, 2024 at 11:09 AM 2 mins read News Ripple files cross-appeal, contesting $125M fine and ensuring key legal points are addressed in the SEC case. Ripple challenges SEC’s effort to overturn the ruling that XRP sales on secondary markets aren’t securities. CEO Brad Garlinghouse confident…
The Nigerian Securities and Exchange Commission (SEC) vows to crack down on fraud, money laundering, and market manipulation in the crypto sector. The SEC director general, Emomotimi Agama, emphasized the importance of educating investors. Lagos State Governor Babajide Sanwo-Olu said he supports regulating the crypto sector. Investor Education Nigeria’s securities regulator vows to crack down…
October 8, 2024 at 11:40 AM GST 2 mins read News Fold submits SEC S-4 filing, advancing its plan to go public via a merger with FTAC Emerald Acquisition Corp. Stockholders to receive up to $419.75M in Fold stock, contingent on Bitcoin’s price at merger closing. Fold plans to expand its Bitcoin services, including larger…
Russia’s Deputy Foreign Minister has stated that discussions on a single currency for the BRICS economic bloc are premature due to differences in financial regulation among member nations. Instead, the focus remains on enhancing financial sovereignty and exploring national currencies for trade. Ryabkov highlighted ongoing efforts to strengthen the bloc’s economic independence, with authorities actively…
October 7, 2024 at 08:20 AM GST updated: October 6, 2024 at 08:05 PM 3 mins read Press Release The crypto industry is constantly growing, and projects such as VeChain (VET) and Ripple (XRP) are at the top of key developments. VeChain is a blockchain-based platform that optimises global trade by providing better product authenticity…
October 6, 2024 at 10:37 AM GST 2 mins read News Tornado Cash developer Roman Storm thanked Vitalik Buterin for his $240,000 donation to his legal defense fund. Vitalik Buterin’s third donation supports Roman Storm as he faces serious charges linked to Tornado Cash. The legal fund for Roman Storm has raised over $785,000 as…
October 4, 2024 at 04:40 PM GST updated: October 4, 2024 at 04:32 PM 1 min read News Coinbase to delist all non-compliant stablecoins in the EEA by December 2024. MiCA regulation forces exchanges to restrict unauthorized stablecoins. Tether among stablecoins facing delisting due to EU MiCA rules. Coinbase plans to delist all unauthorized stablecoins…
An undisclosed source noted that the financial services regulator (FCA) of the United Kingdom has conducted a secret inquiry over BCB group, a crypto-based company; yet the inquiry now remains closed. Available information notes, BCB group is the same company that had received s166 notice in 2023 from the FCA UK. According to insiders, the…
October 3, 2024 at 09:25 AM GST updated: October 3, 2024 at 09:36 AM 2 mins read News The SEC is appealing a court ruling that XRP sales on public exchanges are not securities. Judge Torres ruled Ripple’s institutional XRP sales violated securities laws, but retail sales did not. Ripple faces a $125 million fine…
Binance Kazakhstan has secured a full Digital Asset Trading Facility (DATF) license from the Astana Financial Services Authority. This approval allows the crypto exchange to operate as a trading platform, broker-dealer, and digital asset custodian. Kazakhstan becomes the first Central Asian country where Binance has regulatory approval, positioning it as a key fintech hub. Binance…
October 2, 2024 at 03:30 AM GST updated: October 2, 2024 at 04:25 AM 2 mins read News Ripple secures DFSA in-principle approval, moving closer to full licensing for cross-border payments in Dubai’s DIFC. Ripple plans to use Dubai as a hub, expanding blockchain-powered payment services across the Middle East, Africa, and South Asia. Dubai’s…
The Dutch Authority for the Financial Markets (AFM) has issued a warning about the dangers of pump-and-dump schemes in the cryptocurrency space, as new regulations prepare to target this market manipulation tactic. The upcoming Markets in Crypto-Assets Regulation (MiCAR), effective from Dec. 30 will ban these practices. AFM Sounds Alarm on Crypto Pump-and-Dump Schemes The…
September 29, 2024 at 06:28 PM GST updated: September 29, 2024 at 04:59 PM 2 mins read News The CEO of Cantor Fitzgerald implores authorities to acknowledge Bitcoin as a commodity, akin to gold and oil, given its considerable financial growth. Lutnick believes traditional banks will custody of Bitcoin within five years, once regulatory hurdles…
Stablecoins, the cryptocurrencies pegged to fiat currencies like the U.S. dollar to keep their value steady, can still face failures. Several well-known examples demonstrate that maintaining stability is more challenging than it appears. So, how does something designed to be ‘stable’ unravel? A Historical Review of Stablecoin De-Pegging Incidents There’s no doubt that these stablecoins…
Billionaire Mark Cuban says that Vice President Kamala Harris’ team has told him “in no uncertain terms that they are against ‘regulation through litigation.’” He criticized U.S. Securities and Exchange Commission (SEC) Gary Gensler’s regulation by enforcement approach, asserting: “Gary Gensler is a blight on the technology community.” Mark Cuban Slams SEC Chair Over Crypto…
September 27, 2024 at 01:15 AM GST updated: September 27, 2024 at 01:18 AM 2 mins read News Curve Finance mulls dropping TUSD from crvUSD collateral over SEC fraud concerns. WormholeOracle’s proposal suggests eliminating TUSD due to instability and legal woes. Curve rethinks stablecoin strategy amid $68M in WBTC collateral and SEC scrutiny. Curve Finance,…