regulation

Binance’s $4.3 billion settlement with the United States justice department is being hailed as a positive move for the company and the wider cryptocurrency industry, according to Galaxy Digital’s Mike Novogratz.In an interview with Bloomberg on Nov. 29, the CEO of the cryptocurrency i ...

Digital asset investment platform Fasset was granted an operational license on Nov. 29, according to a listing on the Dubai Virtual Asset Regulatory Authority (VARA) website.The Virtual Asset Service Provider (VASP) Licence granted to Fasset allows it to perform broker-dealer services lega ...

An upcoming ‘scams code framework’ proposed by Australia’s Department of the Treasury considers applying sector-specific codes and standards to banking and cryptocurrency scams, among others.Adding to the efforts of the Australian Competition and Consumer Commission (ACCC), a regulator wit ...

Brazilians may soon be required to pay up to 15% tax on income derived from cryptocurrencies held on exchanges outside the country, after new income tax rules were approved by the Brazil Senate on Nov. 29.The bill has already passed in the Chamber of Deputies and is expected to be approved ...

Wally Adeyemo, Deputy Secretary of the United States Treasury, said his department is looking into new sanctions tools to pursue bad actors in the crypto space, citing a recent settlement with Binance.In prepared remarks for the Blockchain Association’s Policy Summit on Nov. 29, Adey ...

Crypto firm Paxos has secured in-principle approval from Abu Dhabi’s regulator on two fronts: to issue stablecoins and conduct digital asset services.In a Nov. 29 announcement, Paxos said the Financial Services Regulatory Authority in the Abu Dhabi Global Market had granted in-principle ap ...

Charlie Shrem went from running a small online business to becoming a Bitcoin millionaire and making the cover of Forbes magazine. And then, he went to prison.In the latest episode of Cointelegraph’s Crypto Stories, Shrem tells the story of how he founded BitInstant, grew it into a multimi ...

The United States Treasury Department’s Office of Foreign Assets Control (OFAC) imposed sanctions on cryptocurrency mixer Sinbad, alleging the platform was responsible for laundering funds for the North Korea-based hacking group Lazarus.In a Nov. 29 announcement, OFAC said Sinbad had “proc ...

His Majesty’s Revenue and Customs (HMRC) has issued a stern warning to crypto users that they must declare and pay their taxes on digital assets within a strict timeframe or face the consequences. The tax office issued guidance on how to go about declaring and paying taxes on their crypto ho ...

A stakeholder in the blockchain and fintech ecosystem has called on the Federal Government of Nigeria to implement regulations that will foster the widespread integration of the approved blockchain policy in the country. The National Blockchain Policy offers economic growth, job creation, and fin ...

Embattled Thai crypto exchange Zipmex is offering its creditor 3.35 cents per dollar of initial claims with further payouts in a recovery scenario. The proposal came as a part of the restructuring offer from a company that owes its customers $97 million. According to a Bloomberg repor ...

Cryptocurrency exchange Binance has been operating in the Philippines without the necessary approval or license, according to the local securities regulator.The Philippines Securities and Exchange Commission (SEC) issued a warning against Binance on Nov. 28, informing the public that the e ...

Bitcoin (BTC) spot exchange-traded funds (ETFs) in the United States now have a “clear runway” to potential simultaneous approvals after an advanced decision to delay the bids of Franklin Templeton and Hashdex ETFs, according to ETF analysts.In a Nov. 28 X (Twitter) post, Bloom ...

A federal judge has accepted materials from Jump Crypto Holdings in discovery for the United States Securities and Exchange Commission (SEC) case against Terraform Labs.In a Nov. 28 filing in U.S. District Court for the Southern District of New York, Judge Jed Rakoff approved the confident ...

Coinbase is warning that it has received a subpoena from the United States Commodity Futures Trading Commission (CFTC), according to X (formerly Twitter) users who have posted copies of the message. The CFTC is seeking information about the Bybit cryptocurrency exchange.Recipients have spe ...

Multi-party computation (MPC) wallet provider Fireblocks has released a new trading system for institutions that use centralized exchanges, according to a Nov. 28 announcement. Called “Off Exchange,” the new system allows institutional traders to swap tokens without first depositing t ...

A federal judge has approved an order requiring crypto lending firm Voyager Digital and its affiliates to pay $1.65 billion in monetary relief to the United States Federal Trade Commission (FTC).In a Nov. 28 filing in U.S. District Court for the Southern District of New York, Judge Gregory ...

Many predicted that Binance would never embrace regulation — it would only pretend to comply in jurisdictions like the United States. No more. Binance pleading guilty to money laundering and other federal charges on Nov. 21 means it’s giving up its free-booting ways ...

The Financial Stability Board (FSB), the global body that monitors the financial services indreleased a report on Nov. 28 asserting that the crypto industry might need additional regulations to prevent another catastrophe on the scale of the FTX scandalAccording to the report, the FSB said ...

Spanish residents holding any crypto assets on non-Spanish platforms will have to declare them by March 31, 2024, under new laws governing the taxation of virtual assets. The Spanish Tax Administration Agency, commonly known as Agencia Tributaria, has published form 721, a tax de ...

The explosive growth and success of Binance outside of the control of traditional financial and political establishments led to heavy-handed enforcement actions against the exchange, according to former BitMEX CEO Arthur Hayes. Hayes delved into the recent $4.3 billion settlement paid ...

The Secretary-General of Amnesty International, Anges Callamard, released a statement on Nov. 27 in response to three European Union member states pushing back on regulating artificial intelligence (AI) models. France, Germany and Italy reached an agreement that included not adopting ...

Crypto investment platforms eToro and M2 received various degrees of approval from Abu Dhabi Financial Markets Authority (ADGM) to offer their services in the United Arab Emirates.eToro received approval for a Financial Services Permission (FSP) that allows a provider to operate as a broke ...

The United States Securities and Exchange Commission is still looking for evidence that Binance.US had a backdoor to potentially control customer assets in a similar style to FTX, according to a Nov. 27 report by the Wall Street Journal.In June, the SEC filed a lawsuit against Binance and ...

The governance token for crypto mixer Tornado Cash (TORN) has fallen by over 50% on Nov. 26-27, according to data from Coingecko. The crash came on the same day that crypto exchange Binance announced it was delisting the token.Tornado Cash 24-hour chart. Source: Coingecko.Tornado Cash is a ...

Last week, the legal drama featuring the world’s largest crypto exchange and United States law enforcement ended with a plea deal. Binance and Changpeng “CZ” Zhao have admitted violating U.S. Anti-Money Laundering laws, agreeing to pay $4.3 billion in fines. CZ resigned as CEO of Binance as part ...

Changpeng “CZ” Zhao, who pleaded guilty to one felony charge as part of a settlement with the United States Department of Justice involving crypto exchange Binance, may not be permitted to leave the country as he awaits sentencing.According to a Nov. 27 filing in U.S. District Court for th ...

According to Japan’s tax authorities, while the total number of tax violations through cryptocurrencies has risen in the country, the average value of undeclared income in crypto fell by 19%.On Nov. 24, the Japanese National Tax Agency (NTA) released its yearly summary of tax investigation ...

Circle, the stablecoin issuer behind USD Coin (USDC), is teaming up with Tokyo-based financial services firm SBI Holdings to boost the adoption of USDC and Web3 services in Japan.Circle said it concluded a memorandum of understanding (MOU) with SBI Holdings on Nov. 27, which will underpin ...

A recent court filing suggests that Changpeng "CZ" Zhao's legal challenges are just beginning, despite pleading guilty to violating the United States Anti-Money Laundering requirements in a settlement with the Department of Justice. Zhao is expected to be sentenced in February 2024. H ...

Cryptocurrency exchange Zipmex has announced it is taking immediate action by suspending all digital asset trading in Thailand as part of its efforts to comply with regulations.According to a statement issued on November 25, Zipmex has opted to temporarily halt its operations to align with ...

Recent events surrounding the crypto exchange Binance sparked significant debate about the United States’ crackdown on crypto firms. According to Omid Malekan, adjunct professor at Columbia Business School and author, the Department of Justice’s approach in the case is very different from what is ...

Former Binance CEO Changpeng "CZ" Zhao has opposed the United States government's efforts to block his return to the United Arab Emirates (UAE) to be with his family while awaiting sentencing following his guilty plea.In a court filing on November 23, Zhao’s lawyers urged the judge to reje ...

CoinW, a major cryptocurrency exchange, has announced a new partnership with Andrea Pirlo, a renowned soccer player.There are plenty of similarities between the worlds of sports and crypto. Both have passionate supporters and vibrant communities — striving to achieve excellence. Eac ...

The Data Act — a contentious piece of European Union legislation that includes a clause requiring the ability to terminate smart contracts — has been approved by the European Parliament. If introduced, the legislation will require a smart contract to have a “kill switch.”In a Nov. 9 p ...

Tether and Bitfinex have jointly agreed to drop initial opposition to a freedom of information (FOIL) request lodged in New York by a number of high-profile news publications.A statement from the USDT stablecoin issuer and cryptocurrency exchange shared with Cointelegraph notes that it is ...

As expectations grow that a spot Bitcoin exchange-traded fund (ETF) will be approved in the United States, it remains one of the hottest topics heading into 2024. In Episode 38 of Cointelegraph’s Hashing It Out, Elisha Owusu Akyaw talks to Joel Kuck, CEO of Decentralized ETF (D-ETF), about how ET ...

European Central Bank (ECB) president and prominent Bitcoin (BTC) critic Christine Lagarde has shared a family story about unsuccessful cryptocurrency investments, according to a report from Reuters.Lagarde told students at a town hall in Frankfurt on Nov. 24 that her son lost “almost all ...

India is formulating regulations to oversee deepfakes, the country’s Minister for Railways, Communications, Electronics and Information Technology Ashwini Vaishnaw said on Nov. 23, expanding on Prime Minister Narendra Modi’s statement the day before about his concerns about the technology. ...

The European Union’s banking regulator, the European Banking Authority (EBA), wants to update existing anti-money laundering rules and focus on combatting the financing of terrorism (AML/CFT) for crypto providers. In a consultation paper published on Nov. 24, the EBA explains that cur ...

The saga of Terraform Labs co-founder Do Kwon continues to unfold, with a court in Montenegro approving his extradition to either South Korea or the United States.The High Court of Podgorica has determined the legal requirements for Kwon’s extradition, according to an official statement po ...

Netherlands-based cryptocurrency exchange Bitvavo is set to expand its services to French users after successfully registering as a digital asset service provider with France’s Autorité des Marchés Financiers (AMF).The expansion into France comes just weeks after Bitvavo secured regulatory ...

In response to the feedback received on its proposed Digital Payment Token (DPT) regulations, the Monetary Authority of Singapore (MAS) laid down measures for DPT service providers to discourage speculation in cryptocurrency investments.The de-facto central bank of Singapore, MAS, announce ...

Australia’s tax regulator has been unable to clarify confusing aspects of its new guidance that suggests capital gains tax (CGT) is payable on a slate of everyday decentralized finance transactions.The ATO failed to answer direct questions from Cointelegraph on whether staking Ether ...

The crypto trading days of former FTX CEO Sam Bankman-Fried are over, and the recently convicted founder has found a new thing to trade while in jail — fish. The Wall Street Journal reported on Nov. 23 that Bankman-Fried recently traded four packets of Mackerel — known in ...

Amid ongoing campaigns for the elections in 2024, many United States lawmakers have not sealed the deal on legislation aimed at establishing regulatory clarity on aspects of the digital asset space, including stablecoins.Speaking with Cointelegraph at the North American Blockchain Summit o ...

The Singaporean crypto-fiat payment gateway, Alchemy Pay, announced a further expansion into the United States market on Nov. 23 with the acquisition of its money services license in the state of Iowa. According to local state regulations, any entity or individual engaged in currency ...

The collapse of FTX in 2022 and Binance’s recent $4.3 billion settlement with U.S. authorities provide a strong argument for the provisions of the European Union’s markets in crypto-assets (MiCA) legislation, a European Commission official said in an interview.Ivan Keller, policy officer f ...

The Italian Data Protection Authority, a local privacy regulator, announced the launch of a “fact-finding” investigation on Nov. 22, in which it will look into the practice of data gathering to train artificial intelligence (AI) algorithms.The investigation aims to verify the adoption of a ...

Kraken co-founder Jesse Powell has welcomed the result of the Binance investigation in an "X” (formerly Twitter) post and has highlighted the need for long-term-oriented visionaries and shareholders. Over the last 12 months, leaders of major crypto exchanges such as FTX and Bina ...

United States government prosecutors are trying to stop former Binance boss Changpeng “CZ” Zhao from leaving the country, expressing concern about his potential flight risk.In a Nov. 22 filing to a Seattle federal court, U.S. prosecutors requested a review and overturn of a judge’s decisio ...

FTX founder and convicted fraudster Sam Bankman-Fried will stay jailed after failing to convince a United States appellate court that he should be freed while his legal team appeals his conviction.In a Nov. 21 mandate, the U.S. Court of Appeals for the Second Circuit said Bankman-Fried&rsq ...

CbatGPT developer OpenAI announced last week that it had fired CEO Sam Altman due to a loss of confidence by the board — only to see him return to the company after 90% of OpenAI staffers threatened to resign. The firing caused a flurry of excitement from companies offering to match OpenAI ...

In a Nov. 22 YouTube video, Cardano founder Charles Hoskinson reflected on the news that Binance CEO Changpeng "CZ" Zhao has stepped down from the exchange. Hoskinson claimed that this event represents “the end of an era.” He argued that entrepreneurs g will need to comply with regula ...

Representatives from BlackRock and the Nasdaq met with the United States Securities and Exchange Commission to discuss the proposed rule allowing the listing of a spot Bitcoin (BTC) exchange-traded fund, or ETF.According to a Nov. 20 SEC memo, BlackRock provided a presentation detailing ho ...

United States-based cryptocurrency exchange Coinbase has renewed its call to compel the Securities and Exchange Commission (SEC) to respond to the company’s petition to create rules on crypto, using the regulator’s recent enforcement action against Kraken to back up its claims. ...

The year 2022 saw a historic breakdown of trust in exchanges and other crypto service providers. The collapses of Sam Bankman-Fried’s FTX and Alex Mashinsky’s Celsius are still fresh in the community’s memory, SBF’s trial only recently having concluded. These cases serve as a painful reminder tha ...

Fiv years ago, you couldn’t trade with fiat currency on Binance, yet the exchange was already garnering international attention with the highest trading volumes among its peers.That's no mean feat in the cryptocurrency industry, even in 2018, with several well-established exchanges c ...

Amid ongoing confusion, uncertainty and rumors around the recent departure of Changpeng “CZ” Zhao as Binance CEO, his replacement, the new Binance CEO Richard Teng, took to X (formerly Twitter) to attempt to boost investor confidence.Soon after CZ announced he was stepping down ...

As crypto exchange Binance and the departure of its CEO Changpeng “CZ” Zhao hit the headlines in the last 24 hours, the digital asset space went into a rollercoaster mode that saw the market liquidate close to $175 million for traders betting on long positions.On Nov. 21, devel ...

Binance founder Changpeng “CZ” Zhao will pay a $175 million release bond and agree to return to the United States 14 days before his Feb. 23, 2024 sentencing — possibly allowing him to return to Dubai. In a Nov. 21 bond document filed in a Seattle federal court, Zhao agreed to share with t ...

Binance and its founder Changpeng"CZ" Zhao has admitted to violating United States laws around money laundering and terror financing — agreeing to pay $4.3 billion in fines The Here's what happened.Feb. 15: Binance was under suspicion since 2018Reports emerged th ...

Crypto markets were subjected to a heavy dose of volatility on Nov. 21 as the United States Department of Justice (DOJ), Commodity Futures Trading Commission (CFTC) and U.S. Treasury announced a $4.3-billion settlement with Binance and that former Binance CEO Changpeng Zhao will plead guilty to o ...

Brian Armstrong, CEO of crypto exchange Coinbase, thinks that his company made the right decision to comply with U.S. money transmitter licensing laws.In a Nov. 21 social media post, Armstrong weighed in on the news that rival exchange Binance is pleading guilty to criminal charges, statin ...

Officials with the United States Department of Justice announced that Binance CEO Changpeng "CZ" Zhao will plead guilty to one felony charge as part of a settlement over criminal and civil cases with the exchange.In a Nov. 21 press conference, Attorney General Merrick Garland ann ...

Binance has named its head of regional markets outside of the U.S., Richard Teng, as its new CEO. The change comes as founder and former CEO Changpeng “CZ” Zhao has resigned and plead guilty to charges levied against him by the U.S. Department of Justice.  ...

A federal court has released the indictments against Binance and CEO Changpeng "CZ" Zhao filed under seal on Nov. 14, in which the United States government said it expected the cryptocurrency exchange and CZ to enter guilty pleas. In Nov. 14 filings in U.S. District Court for the West ...

The United States Department of Justice announced it had seized roughly $9 million worth of Tether (USDT) following the stablecoin issuer freezing funds connected to a criminal organization responsible for romance scams.In a Nov. 21 announcement, the Justice Department said the seized fund ...

Binance founder Changpeng "CZ" Zhao has agreed to step down as CEO of the crypto exchange as the U.S. Department of Justice (DOJ) prepares to announce that it's secured a $4.3 billion settlement with the company.According to The Wall Street Journal, CZ intends to plead guilty to several ch ...

A wave of optimism around the potential approval of a spot Bitcoin exchange-traded fund (ETF) in the United States has ignited bullish price action in the crypto market in recent weeks. But that could be just the beginning: If a spot Bitcoin ETF receives a greenlight by the U.S. Secur ...

Tether’s bank partner Britannia Financial is reportedly facing a lawsuit over claims it failed to pay the full price of revenue-generating assets allegedly related to a large deposit from Tether.Arbitral International, a company registered in the British Virgin Islands, has sued Britannia ...

Crypto community members on X (formerly Twitter) have turned their focus onto a $3.9 billion Tether (USDT) transaction between Binance wallets that surfaced on social media, following reports claiming that the United States Justice Department is negotiating a $4 billion settlement with the compan ...

The crypto space has been making its feelings known about the latest blow from regulators in the United States, a lawsuit filed by the Securities and Exchange Commission (SEC) against crypto exchange Kraken. The lawsuit was filed on Nov. 20 based on the SEC's allegations that Kra ...

Kraken co-founder Jesse Powell has lashed out at the Securities and Exchange Commission after it sued his crypto exchange for alleged securities law violations. In a Nov. 21 post to X (formerly Twitter), Powell called the regulator “USA’s top decel” — a term us ...

BNB (BNB) has gained over 7% in the last day after Bloomberg reported that the United States Department of Justice is contemplating a $4 billion settlement with Binance to resolve its investigation into the company.Cointelegraph Markets Pro shows BNB spiked 6% to $262 in around 30 minutes ...

The Blockchain Association has thrown fresh support behind six plaintiffs suing the United States Treasury Office of Foreign Assets Control (OFAC) over its sanctions on the crypto mixer Tornado Cash.In a Nov. 20 amicus curiae brief to a U.S. appellate court, the crypto advocacy group argue ...

The United States Securities and Exchange Commission (SEC) has sued Kraken alleging it failed to register as an exchange, broker, dealer and clearing agency with the regulator and claimed it commingled customer funds. In a Nov. 20 complaint, the SEC claimed that since 2018, ...

The United States House Financial Services Subcommittee on Digital Assets, Financial Technology and Inclusion received an education in the uses of blockchain technology in a hearing titled “Crypto Crime in Context: Breaking Down the Illicit Activity in Digital Assets.” The meeting began with a di ...

Canada’s Office of the Superintendent of Financial Institutions (OSFI) has opened a consultation period on crypto asset disclosure requirements for federally regulated financial institutions (FRFIs). The consultation was foreseen in the 2023 federal budget, but its timing is tied to a simil ...

The US Justice Department is negotiating with Binance in an attempt to resolve its investigation into the company, according to a November 20 report from Bloomberg citing people familiar with the discussions. The agreement would require Binance to pay $4 billion in fines. In return, the company w ...

ARK Investment Management, a major cryptocurrency investment firm founded by Bitcoin (BTC) advocate Cathie Wood, isn’t giving up on its efforts to launch a spot Bitcoin exchange-traded fund (ETF) in the United States.ARK Invest, on Nov. 20, filed another amended prospectus for its spo ...

Stablecoin issuer Tether froze roughly $225 million worth of USDT tokens as part of an investigation into a Southeast Asia human trafficking syndicate launched by the United States Department of Justice (DOJ). In a Nov. 20 announcement, Tether said it had worked with the DOJ and crypt ...

Proprietary trading system operator Osaka Digital Exchange (ODX) is set to kickstart the trading of digital securities in Japan through security tokens issued by two real-estate firms to fill the demand for alternative assets. In an announcement, ODX said that its trading system for s ...

The company behind Atomic Wallet has asked a United States court to dismiss a class action suit seeking damages from a $100 million hack arguing the claims should’ve been filed in Estonia where it's based.In a Nov. 16 dismissal motion in a Colorado District Court the Estonian firm argued i ...

Mike Belshe, CEO of cryptocurrency exchange BitGo, has suggested that all indications are leaning towards a favorable outcome for a spot Bitcoin (BTC) exchange-traded fund (ETF). However, he emphasized that the journey ahead won't be without challenges.In an interview with Bloomberg on Nov ...

Senator Elizabeth Warren has emphasized the risks of cryptocurrency scams targeting senior citizens in the U.S., with the support of a cybersecurity expert supporting her legislation on digital assets to prevent future scams.In a recent senate hearing, Warren outlined the significant incre ...

Stablecoins lack crucial mechanisms that guarantee money market stability in fiat, and an operational model that gave regulatory control to a central bank would be superior to private stablecoin, a study released by the Bank for International Settlements (BIS) found. The authors used a &ld ...

The global exchange-traded fund (ETF) provider WisdomTree filed an amended S-1 form spot Bitcoin (BTC) ETF prospectus with the United States Securities and Exchange Commission (SEC) on Nov. 16.The update comes a few months after WisdomTree refiled its spot Bitcoin ETF applic ...

As Gary Gensler reiterates the United States Securities and Exchange Commission’s (SEC) mandate through a speech, Ripple’s lawyer and various crypto community members responded, criticizing the SEC chair and arguing that the commissioner’s words contradict his actions.  ...

IOSCO, the international regulatory body overseeing securities markets, has released its conclusive report containing policy suggestions for crypto and digital asset (CDA) markets.The suggestions within this report play a crucial role in formulating a unified global regulatory approach to ...

Fourteen Ukrainian officials received advanced training on investigating new-age financial crimes in a training course held from Nov. 14 to Nov. 17 in Vienna.According to a report released by the Organization for Security and Co-operation in Europe (OSEC), the select supervisory and l ...

Andrew Yang, former candidate for United States president and New York City mayor and founder of the Forward Party, had sobering observations about the uses of blockchain, or its lack of use, in the United States and U.S. regulation of artificial intelligence (AI) when he spoke Nov. 16 at th ...

The Texas State Securities Board has accused a network of companies under the "GS" brand and operating from Germany of fraudulent activities "tied to digital assets, investments in a staking pool in a proprietary metaverse." The network of companies is controlled by Josip Dortmund Heit.As ...

Republican U.S. Presidential candidate Vivek Ramaswamy unveiled a crypto policy framework on November 16 at the North American Blockchain Summit (NABS) in Fort Worth, Texas. Called, “The Three Freedoms of Crypto,” the framework states that developers of smart contract code shou ...

Dubai’s dedicated crypto regulator, the Virtual Asset Regulatory Authority (VARA), is switching leaders as it prepares for the next phase of its “ramp up to full-scale market operations” in 2023. In a statement sent to Cointelegraph, VARA said that its incumbent CEO, Henson Orser, wil ...

Three Arrows Capital (3AC) co-founder Kyle Davies has reportedly been seen in Bali as he continues to evade authorities over the collapse of the defunct hedge fund.Davies, who has been embroiled in bankruptcy proceedings following the collapse of 3AC in 2022, has already been sentence ...

The European Union has been actively preparing for what it envisions as the future of money. Over the last year, it finalized its landmark comprehensive crypto legislation, the Markets in Crypto-Assets regulation (MiCA), which is due to take effect in 2024, after closing its second consultat ...

Several members of the United States Congress have submitted a memo urging key financial authorities, including the chair of the board of the Federal Deposit Insurance Commission and the acting comptroller of the currency, to provide guidance or take action clarifying that the U.S. Securities and ...

Turkey is reportedly considering regulations for its crypto market, focusing on licensing and taxation. The aim is to remove the country from the “gray list” of an international financial crime watchdog, as Turkey ranks fourth globally in crypto trading.According to a Reuters report, ...

The Philippines Bureau of the Treasury announced it would offer 10 billion pesos ($179 million) of one-year tokenized treasury bonds for the first time after canceling the traditional auction scheduled for Nov. 20.The Bureau of the Treasury will offer these tokenized bonds to institutional ...

Guidelines for firms listing and delisting cryptocurrencies in New York have tightened up to better protect investors, according to the state’s financial regulator.The New York State Department of Financial Services (NYDFS) unveiled new restrictions on Nov. 15 which mandate crypto co ...

Crypto infrastructure firm Paxos has secured in-principle approval from Singapore’s regulator for a new entity that’s planning the launch of a U.S. dollar-backed stablecoin.In a Nov. 15 statement, Paxos said it received an initial nod from the Monetary Authority of Singapore (M ...

The United States House Financial Services Subcommittee on Digital Assets, Financial Technology and Inclusion received an education in the uses of blockchain technology in a hearing entitled “Crypto Crime in Context: Breaking Down the Illicit Activity in Digital Assets” on Nov. 15. Th ...

The German bank Commerzbank has been granted a crypto custody license by local regulators, according to an announcement released by the lender on Nov. 15. Commerzbank says it is the first “full-service” German bank to be granted this license in the country under the legal framework of ...

During her opening speech at the Singapore FinTech Festival, International Monetary Fund (IMF) Managing Director Kristalina Georgieva urged the public sector to “keep preparing to deploy” central bank digital currencies (CBDCs) and related payment platforms in the future.Georgieva expresse ...

Hong Kong-founded institutional cryptocurrency asset custodian Hex Trust has been given the green light to offer virtual asset custodial services to institutional clients and investors in Dubai.The firm, which established an office in the city in June 2022, received a full virtual asset se ...

The Nov. 13 XRP (XRP) price action stemming from a falsified BlackRock XRP trust filing shouldn’t sway the United States securities regulator’s decision to approve or delay spot Bitcoin (BTC) exchange-traded funds (ETFs) — but it isn’t a good look, say industry observers. ...

The creator of the Mutant Ape Planet nonfungible token (NFT) collection — a knock-off of Yuga Labs’ Mutant Ape Yacht Club project — has pleaded guilty to conspiracy to commit wire fraud in a New York federal court.In a Nov. 14 statement, the U.S. Attorney’s Office f ...

A fake filing published to the State of Delaware’s Division of Corporations on Nov. 13 will be referred to the Delaware Department of Justice.In a Nov. 14 statement, a spokesperson for the Delaware Department of State told Cointelegraph that the false filing claiming that asset manager Bla ...

A group of Tornado Cash users has filed an appeal in federal court following a ruling upholding the United States Treasury’s decision to add the cryptocurrency mixer to its list of sanctioned entities.In a Nov. 13 filing in the U.S. Court of Appeals for the Fifth Circuit, lawyers rep ...

Zubin Koticha and Alexis Gauba, two founders of the Opyn decentralized finance (DeFi) protocol, are stepping down from the project and “leaving crypto,” according to a statement from Koticha posted to social media on November 14. The statement comes approximately two months after Opyn ...

King Charles II has approved the appointment of Member of Parliament Bim Afolami to the position of Economic Secretary to the Treasury of the United Kingdom.In a Nov. 13 notice, the U.K. government said Afolami was one of several appointments in restructuring ministers and secretaries. As ...

Tether (USDT), the largest stablecoin by market value, has been breaking new records over the course of 2023, with its market capitalization adding at least $20 billion so far this year.According to data from the blockchain data provider Whale Alert, Tether has minted 22.75 billion USDT so ...

A Ripple executive has re-emphasized the need to adopt a technology-neutral approach for more effective and adaptable guardrails as global regulators grapple with cryptocurrency rules.At the recent Ripple Swell 2023 event, Navin Gupta, managing director of South Asia, Middle East and North ...

Bitcoin service platform Swan Bitcoin warned its customers that it would be forced to terminate accounts found interacting with crypto-mixing due to the regulatory obligations of its partner banks. Customers were informed about the policy in a letter suggesting the changes are made du ...

The Democratic Party of Korea, which holds 167 out of 300 seats in the National Assembly, has made it mandatory for prospective candidates to disclose their virtual asset holdings before next year’s general election.According to the local outlet, News1, the disclosure will be a part of the ...

The Australian Taxation Office (ATO) has issued guidance on capital gains tax (CGT) treatment of decentralized finance (DeFi) and wrapping crypto tokens for individuals, clarifying its intent to continue taxing Australians on capital gains when wrapping and unwrapping tokens.In May 2022, t ...

Crypto exchange Crypto.com’s Dubai entity was granted a Virtual Assets Service Provider (VASP) license by the city’s regulator, pending operational approval.In a Nov. 14 press release, Crypto.com said that once fully approved by Dubai’s Virtual Assets Regulatory Authority ...

An employee of FTX’s charity wing recruited by FTX co-founder Sam Bankman-Fried is trying to get paid $275,000, the remainder of his claimed 2022 salary bonus.Ross Rheingans-Yoo's lawyers argued in a Nov. 13 court filing that only $375,000 of his $650,000 bonus was paid by FTX. They ...

The United States Securities and Exchange Commission (SEC) could approve all 12 pending spot Bitcoin exchange-traded fund (ETF) applications by Nov. 17. Beginning on Nov. 9, the SEC reportedly has a “window” to approve all 12 spot Bitcoin ETF filings, including Grayscale Investments conversion of ...

The weeklong Asia-Pacific Economic Cooperation (APEC) summit began on Nov. 11 in San Francisco. The highlight of the event will surely be on the sidelines, when United States President Joe Biden and Chinese leader Xi Ping meet on Nov. 15, but with the focus of the organization being on the region ...

The Blockchain Association, a United States-based cryptocurrency advocacy group, has submitted a comment letter mainly in opposition to tax regulations proposed by the Internal Revenue Service (IRS).In a Nov. 13 letter, the Blockchain Association (BA) said proposed IRS rules introduced in ...

The United States Financial Services Committee (FSC) has scheduled a Nov. 15 hearing for a deep dive into the illicit activities in the cryptocurrency ecosystem. The hearing, ‘Crypto crime in context: breaking down the illicit activity in digital assets,’ will feature prominent ...

The National Stock Market Commission (CNMV), Spain’s principal financial regulator, called out the fraudulent crypto assets promos on X (formerly Twitter) and reiterated the obligation of companies to comply with local laws. On Nov. 8, in a speech at the Deloitte annual conferenc ...

Cryptocurrency trading platform Bitget has dropped plans to obtain a Virtual Asset Trading Platform (VATP) license in Hong Kong, citing business and market-related considerations.Bitget officially announced on Nov. 13 that its Hong Kong division, BitgetX, accessible by the domain BitgetX.h ...

Australian authorities will oblige local companies to be fully transparent and report any ransomware cyberattacks on their businesses. The country’s economy lost $2.59 billion to cybercrimes in 2021. As reported by the Australian on Nov. 13, the national cybersecurity strategy, which ...

Crypto exchange Bithumb plans to become the first digital asset company to go public on the South Korean stock market. Local news outlet Edaily reported on Nov. 12 that Bithumb is getting ready for an initial public offering (IPO) on the KOSDAQ — South Korea’s version of the United St ...

Non-government organization Bitcoin Argentina presented a draft bill proposing to regulate the cryptocurrency market in a way that preserves decentralization and strengthens public trust.The proposed legal framework was pitched by Bitcoin Argentina's president Ricardo Mihura at LABITCONF 2 ...

The Indian Supreme Court declined to consider a Public Interest Litigation (PIL) that aimed to establish regulations and a framework of guidelines for cryptocurrency trading in India.According to a report, the bench headed by the Chief Justice of India (CJI), after listening to the plea, r ...

Attorney John Deaton, representing XRP holders, has made a persuasive case in the Ripple vs. SEC legal saga, suggesting that the anticipated $770 million disgorgement for Ripple is improbable. He grounds his prediction on various influential factors that could sway the court’s judgment. ...

Nonprofit ethics group Campaign for Accountability (CfA) sent a letter to U.S. Senators Elizabeth Warren and Sherrod Brown on Nov. 9 to present them with information on the alleged use of cryptocurrency in money laundering. The letter discussed the Tron blockchain and stablecoin issuer Circle in ...

Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you the most significant developments from the past week.The exploiter behind the $116-million theft of assets from Mango Markets will face trial in April next ...

Bankrupt cryptocurrency lender Genesis has asked the court to approve its proposed settlement agreement with the imploded crypto hedge fund Three Arrows Capital (3AC).According to a court filing on Nov. 9, Genesis argued that the 3AC debtor should receive an allowed general unsecured claim ...

The Chinese government released a statement on Nov. 10 declaring that anyone stealing digital collections, such as nonfungible tokens (NFTs), will be subject to theft sentences. It outlines three views on the type of crime that theft of digital collections falls under, the first two c ...

Cryptocurrency exchange Binance is progressing with its exit from Russia and is preparing to terminate local currency deposits next week.Binance will stop accepting deposits in Russian rubles (RUB) starting Nov. 15, 2023, the firm officially announced on Friday. Binance also advised users ...

Just under 50 national governments have issued a joint pledge to “swiftly transpose” the Crypto-Asset Reporting Framework (CARF), the new international standard on automatic exchange of information between tax authorities, into their domestic law systems. The statement was published on Nov. 10.&n ...

The Turkish Lira (TRY) became the most dominant fiat trading pair on Binance in the month of September, according to the crypto exchange’s research.Turkish Lira accounted for 75% of all fiat volume in early September despite being the fourth-largest crypto market globally in terms of trans ...

Hong Kong is “very ready” for the next wave of mass crypto adoption, with an influx of crypto talent that has been spilling into the aspiring digital asset hub, says Jupiter Zheng, a partner at Hashkey Capital. Speaking to Cointelegraph, Zheng, partner of liquid funds and ...

The European Parliament has voted to approve the Data Act — controversial legislation that includes a stipulation necessitating smart contracts have the ability to be terminated.In a Nov. 9 press release, the parliament said the legislation passed 481 votes to 31 against. To become law, it ...

The former compliance chief of OneCoin — a 2015 crypto scheme that defrauded investors out of $4 billion — has pleaded guilty to wire fraud and money laundering charges in Manhattan federal court.In a Nov. 10 statement, the Department of Justice (DOJ) said that U.S. District Ju ...

Blackrock’s plans for a spot Ethereum exchange-traded fund (ETF) has now been confirmed, per a 19b-4 form filing submitted to the United States Securities and Exhange Commission on Nov. 9.Nasdaq filed the 19b-4 form to securities regulator on behalf of the $9 trillion asset managemen ...

The Proof of Stake Alliance (POSA), a non-profit organization that represents firms in the crypto staking industry, published an updated version of its “staking principles” on Nov. 9. The new principles are supported by Ava Labs, Alluvial, Coinbase, Lido Protocol, Paradigm, and ten other staking ...

In an effort to boost state revenues, Laos appears to be turning its attention to the country's crypto sector.According to a Nov. 9 report by China's state news agency Xinhua News, citing a report from Laos People's Army News, cryptocurrency operators in the Southeast Asian country owes $2 ...

Ethereum co-founder Vitalik Buterin recently authored a research paper, the primary focus of which was integrating privacy features into blockchain transactions while ensuring compliance with a range of regulatory requirements.Experts from various backgrounds collaborated on this research ...

The Chinese artificial intelligence (AI) chip market has been subject to ongoing export restrictions which imposed by the United States from October 2022, which prohibited the sale of certain U.S. products to China. The U.S. initially blocked the export of the highest level of chips p ...

U.S. Representatives Zach Nunn and Abigail Spanberger have jointly introduced the Creating Legal Accountability for Rogue Innovators and Technology (CLARITY) Act. The legislation aims to prohibit federal government officials from conducting business with Chinese blockchain companies.The Ac ...

A report issued by the Office of the Maine State Treasurer highlighted the U.S. state’s interest in officially managing the abandoned and recovered crypto assets.The program evaluation report of Maine uncovered the state’s lack of preparedness when it comes to handling cryptocurrencies. It ...

With the United States Securities and Exchange Commission’s first window opening up for the approval of a spot Bitcoin ETF, analysts have noted that even if the SEC approves a spot Bitcoin (BTC) exchange-traded fund (ETF), it will be a month before the actual launch.The expected dela ...

Criminals in Sweden are specifically targeting prominent local Bitcoin figures, which appears to be the result of ease of access to personal information and residential addresses in the country.Reports from Swedish media outlets LT and Aftonbladet have linked separate robberies in Rön ...

The saga of the imploded cryptocurrency exchange JPEX continues to develop as Taiwanese prosecutors have reportedly found new alleged suspects.The Taipei District Prosecutors Office (TDPO) requested Chang Tung-ying, the chief partner at JPEX’s office in Taiwan, be held in custody over alle ...

The principal financial regulator in Spain, the National Securities Market Commission (CNMV), has opened the first case on violating crypto promotion rules in the country. As reported in the press release from Nov. 8, CNMV initiated “sanctioning proceedings” against Miolos S.L for two ...

The United States securities regulator chief has hinted he would be open to a rebooted crypto exchange FTX — as long as its new leadership stays within the bounds of the law. SEC Chair Gary Gensler’s comments were made in response to reports that Tom Farley, a former president ...

Pro-crypto Congressman Tom Emmer is advancing an amendment aimed at depriving the United States securities regulator from using government funds to go after crypto enforcement.On Nov. 8, Emmer attached an amendment to HR 4664 — the Financial Services and General Government Appropriat ...

Binance’s arguments used in its motion to dismiss a lawsuit from the United States securities regulator relies on an incorrect legal analysis and have no basis in law, the regulator has argued.In a Nov. 7 court filing the SEC rebuffed Binance’s earlier bid to toss the regulator’s suit sayi ...

The United States Securities and Exchange Commission could approve all 12 of the pending spot Bitcoin (BTC) exchange traded fund (ETF) applications within the next eight days. Bloomberg ETF analysts James Seyffart and Eric Balchunas wrote that starting from Nov. 9 the SEC has a &ldquo ...

Cryptocurrency taxation is a subject of increasing importance, with governments worldwide working diligently to establish clear rules for taxing digital assets. In the United States, the United Kingdom, and Canada, crypto holders navigate complex regulatory landscapes, making it crucial to unders ...

The aim of the new liquidity guidelines is to ensure that the stablecoin can be quickly redeemed even during turmoil market conditions to avoid the risk of any bank runs and contagion in a crisis situation.Under the proposed liquidity guidelines, stablecoin issuers must offer any stablecoi ...

The Commodity Futures Trading Commission (CFTC) has unveiled its enforcement outcomes for Fiscal Year (FY) 2023. It highlights a historic surge in digital asset cases, actions to enforce regulatory obligations for registrants, manipulation and spoofing cases, and groundbreaking court decisions in ...

Central banks have a responsibility not only to keep pace with the digital age but to lead innovation, Agustín Carstens, General Manager of the Bank for International Settlements (BIS), believes. In his opening remarks at the conference in Basel on Nov. 8, Carstens called the central ...

HSBC has partnered with Ripple-owned tech firm, Metaco, to integrate its institutional platform Harmonize with HSBC’s new custody service for digital assets, the firm announced on Nov. 8.The bank expects to roll out the new digital asset custody service in 2024, complementing its digital a ...

Switzerland-based crypto bank SEBA AG has become the latest crypto-centered firm to obtain a license from the Hong Kong Securities and Futures Commission (SFC).SEBA’s Hong Kong subsidiary, SEBA Hong Kong, received the regulatory nod to offer a range of crypto-related services in the region ...

The Central Bank of the United Arab Emirates (CBUAE), along with other regulators in the country, has recently published new joint guidance for virtual asset service providers (VASPs) operating within the country. The new guidelines include penalties for VASPs operating without proper licenses wi ...

As the Internal Revenue Service (IRS) pushes forward with its proposal to increase cryptocurrency surveillance, a past report might offer a clue for how this information may be used in practice. In short, with the IRS set to keep tabs on Americans’ cryptocurrency usage through an expected 8 billi ...

The United States Consumer Financial Protection Bureau (CFPB) has proposed a rule to allow it to supervise large non-bank digital wallet and app providers. The rule is part of a larger move by the agency that has seen it extend its supervision to consumer reporting, consumer debt collection, stud ...

Coinbase has expanded its Global Advisory Council with four national security experts, it announced on Nov. 7. The new members will help the cryptocurrency exchange assess the impact of regulatory uncertainty in the United States, it said.The Coinbase council will take on a decidedly more ...

Custodia Bank, a cryptocurrency-friendly bank founded by Bitcoin (BTC) advocate Caitlin Long, has launched its Bitcoin custody platform.The firm took to X (formerly Twitter) on Nov. 7 to announce the launch of Custodia Bank’s Bitcoin custody service targeting businesses like fiduciaries, i ...

Last week the administration of United States President Joe Biden issued a lengthy executive order intended to protect citizens, government agencies and companies through ensuring AI safety standards. The order established six new standards for AI safety and security, along with ...

Lawyers handling the FTX bankruptcy case are considering offers that could eventually lead to a relaunch of the troubled exchange.At an Oct. 24 hearing of the United States Bankruptcy Court in the District of Delaware, Kevin Cofsky of Perella Weinberg Partners revealed he is negotiating wi ...

The Virtual Assets Regulatory Authority [VARA] is one of the earliest world regulatory bodies to release comprehensive crypto assets regulations to promote crypto-related activities in Dubai. Established in March 2022, VARA was created to promote the Emirate as a regional and international hub fo ...

The Ministry of Culture and Information of Kazakhstan has officially confirmed they have blocked the Coinbase website in the country. The authorities of Kazakhstan have been blocking local IPs' access to Coinbase since September at least.  According to a Nov. 7 report from a loca ...

Kenya might become the first country in the world where the industry’s representatives would develop the regulatory framework for crypto. According to the Blockchain Association of Kenya (BAK), The National Assembly’s Departmental Committee on Finance and National Planning has directed it to prep ...

Cryptocurrency intelligence firm Glassnode has said it’s dropping crypto tax-related projects to focus on new solutions targeting institutional investors and decentralized finance (DeFi).Glassnode, on Nov. 6 announced the sale of its crypto-focused tax platform known as Accointing to the E ...

A United States lawmaker wants to strip the Securities and Exchange Commission chair Gary Gensler of his salary by paying him just $1 per year.In a proposed amendment to the Financial Services and General Government (FSGG), Rep. Tim Burchett suggested that Gensler’s salary be brought ...

The Office of the Inspector General (OIG) of the United States Securities and Exchange Commission (SEC) has released its annual examination of the most serious management and performance challenges facing the agency. Crypto was on its list, as no surprise to anyone in the crypto community. ...

A suite of documents was published in the United Kingdom on Nov. 6 that concern stablecoin regulation. The Financial Conduct Authority (FCA) released a discussion paper, as did the Bank of England (BOE). To accompany those, the BOE’s Prudential Regulatory Authority (PRA) released a letter t ...

Former FTX CEO Sam “SBF” Bankman-Fried’s public trial in a New York court ended with the jury finding him guilty on all seven charges on Nov. 3, including two counts of wire fraud, two counts of wire fraud conspiracy, one count of securities fraud, one count of commodities fraud conspiracy and on ...

The cryptocurrency community is excited about the Hong Kong government reportedly weighing the launch of a spot cryptocurrency exchange-traded fund (ETF) amid the ongoing regulatory pushback against such products in the United States.Hong Kong’s potential entrance into spot crypto ET ...

The Securities and Futures Commission (SFC) of Hong Kong laid down the business requirements for offering tokenized securities and other investment products in a circular released Nov. 2.The market demand in Hong Kong for tokenized investment products combined with the various benefits of ...

Bankrupt crypto exchange FTX has requested the bankruptcy court in Delaware to allow it to sell certain key trust funds, including assets from crypto asset manager Grayscale and custody service provider Bitwise valued at around $744 million.In a court filing dated Nov. 3, FTX debtors reque ...

The U.S. Commodity Futures Trading Commission (CFTC) has focused its attention on how companies handle customer assets. Nevertheless, this fresh regulation does not fully encompass the innovative model of the crypto platform LedgerX, leaving key operational aspects subject to regulatory oversight ...

Lawyers representing the $116 million Mango Markets exploiter have convinced a judge to postpone the fraud trial until April 8, 2023.Avraham Eisenberg’s fraud trial was set to commence on Dec. 4 but several circumstances impacted his trial preparations, according to his lawyers, who ...

Some of the largest United States banks are not able to facilitate customers deposits after one of the Federal Reserve’s payment systems suffered an outage on Nov. 3.The Federal Reserve said the bug was caused by a "processing issue" in the Automated Clearing House — a payment ...

Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you the most significant developments from the past week.A trader managed to exploit the brief opening of the Multichain cross-chain bridge, which was frozen si ...

Mustafa Suleyman, the CEO of Inflection AI and co-founder of Google’s DeepMind, had some strong words for Elon Musk during a post-event interview with the BBC after the recent United Kingdom artificial intelligence (AI) summit concluded on Nov. 2.As Cointelegraph reported, Musk leane ...

The current claim pricing of FTX has reached a maximum of 57%, according to data from Claims Market. The increase in FTX’s claim pricing is attributed to the valuation of the Artificial intelligence (AI) companies that the now-bankrupt crypto exchange previously invested in. Creditors ...

Abu Dhabi, the second-most populous emirate in the UAE, has introduced a formal regulatory framework for Decentralized Autonomous Organizations (DAOs) and other digital ledger entities as it doubles down on its ambition to be a leader in digital asset innovation within the Middle East.The ...

The Joint Chiefs of Global Tax Enforcement (J5), a global anti-tax fraud group, hosted investigators, cryptocurrency experts and data scientists in “The Cyber Challenge” event to track down individuals and organizations committing tax fraud.The J5 members comprise the criminal intelligence ...

The United States Securities and Exchange Commission (SEC) has refuted the jury’s conclusion regarding Terraform Labs’ alleged violations and has demanded a summary judgment on all the claims. A court filing from Oct. 27 showed the SEC’s reluctance to accept the jury’s leniency on Do ...

The United States National Institute of Standards and Technology (NIST) and the Department of Commerce are soliciting members for the newly-established Artificial Intelligence (AI) Safety Institute Consortium. Participate in a new ...

The Dubai Financial Services Authority (DFSA) recognized two more tokens on Nov. 2, adding XRP (XRP) and Toncoin (TON) to its list of recognized tokens. They join Bitcoin (BTC), Ether (ETH) and Litecoin (LTC) as coins recognized in the Dubai International Financial Centre (DIFC). The ...

On top of the fraud and scam issues related to crypto, NFTs also require intellectual property management. Web3 platform Niftyz aims to add legal clarity to the NFT market by using blockchain-verified emails to create and protect NFTs.The crypto industry is growing remarkably, even ...

Closing arguments for the criminal trial of Sam Bankman Fried (SBF), the disgraced founder of crypto exchange FTX, have officially concluded with U.S. Southern District of New York Judge Lewis Kaplan moving to jury instructions.As per the indictment from last December, Bankman-Fried faces ...

Rules for crypto asset promotion that came into force in the United Kingdom on Oct. 8 have led to some confusion, judging from the low level of compliance. The Financial Conduct Authority (FCA) responded with additional guidance for crypto firms to help them fall into line.The FCA released ...

The Dubai Virtual Assets Regulatory Authority (VARA) has issued an “Initial Approval” license to the crypto firm WadzPay, marking a pivotal step in the company’s journey toward obtaining a Virtual Asset Service Provider (VASP) license for virtual asset services and activities. ...

ProShares, a major issuer of exchange-traded funds (ETF), has officially announced the launch of the short Ether-linked ETF.Incepted on Nov. 2, ProShares’s new Short Ether Strategy ETF is set to start trading on the New York Stock Exchange’s (NYSE) Arca under the ticker symbol SETH. The ne ...

As the cryptocurrency market moves sideways and amid a deepening stablecoin exodus, the sector remains a vital lifeline for many sending money to loved ones while dodging extremely high fees that can be life-changing over time.Cryptocurrency remittances have been seeing their adoption grow ...

The tokenization of real-world assets has been tipped as a major use case of blockchain technology that could drive Web3 adoption. In episode 35 of Cointelegraph’s Hashing It Out podcast, host Elisha Owusu Akyaw interviews Sanjay Raghavan, vice president of Web3 Initiatives at Roofstock ...

SafeMoon, a decentralized finance project exploited in March, resulting in a net loss of $8.9 million in BNB, has been charged by the United States Securities and Exchange Commission and its key executives for security rules violations and frauds. The funds associated with the exploit have ...

Hong Kong’s securities regulatory authority has issued two circulars to regulate digital asset tokenization in its pursuit of becoming a prominent Web3 hub in Asia.The Securities and Futures Commission (SFC), in these circulars, offered instructions to intermediaries participating in token ...

Payment giant PayPal has received a subpoena from the United States Securities and Exchange Commission (SEC) regarding its U.S. dollar-pegged stablecoin.The Enforcement division of the SEC has sent a subpoena to PayPal related to its PayPal USD (PYUSD) stablecoin, the firm disclosed on Nov ...

The Swiss National Bank (SNB), six commercial banks and the SIX Swiss Exchange will work together to pilot the issuance of wholesale central bank digital currencies (CBDCs) in the nation, officially known as the Swiss franc wCBDC.The pilot project dedicated to wholesale CBDC, named Helveti ...

Ripple’s chief legal officer, Stuart Alderoty, has expressed reservations about the recent string of legal defeats suffered by the U.S. Securities and Exchange Commission (SEC) during Gary Gensler’s tenure. These remarks follow another setback for the SEC in the Fifth Circuit court af ...

Reacting to the rising attempts from bad actors to dupe crypto investors, the United Kingdom’s National Crime Agency (NCA) plans to form a specialized cryptocurrency and virtual assets team to counter the issue.The NCA posted a job opening on Nov. 4, looking to hire six individuals to crea ...

The Abu Dhabi Global Market (ADGM) Registration Authority has introduced comprehensive regulations governing Web3 organizations. The international financial free zone’s regulatory framework is “purpose-built” and the first of its kind, the agency claimed.The Distributed L ...

The Hong Kong government says the recent $165 million alleged scandal involving crypto exchange JPEX won’t  stifle its Web3 vision for the region. In a Nov. 2 keynote at Hong Kong Fintech Week, the region’s Secretary for Financial Services and the Treasury Christopher Hui said the sag ...

The United States Securities and Exchange Commission (SEC) announced Nov. 1 that it was charging SafeMoon and three of its executives with fraud and unregistered securities sales in connection with its SafeMoon token. The Justice Department unsealed charges against the men at the same t ...

The United Kingdom’s global summit on artificial intelligence (AI) safety, “AI Safety Summit” began on Nov. 1 and will carry on through Nov. 2 with government officials and leading AI companies from the world in attendance, including from the United States and China. U.K. Prime Minist ...

Global payment giant PayPal has received approval from the Financial Conduct Authority (FCA) to offer crypto services in the United Kingdom.According to official FCA data, PayPal has been registered to offer “certain crypto asset activities” in the U.K. since Oct. 31, 2023.According ...

On the 15th anniversary of Bitcoin white paper release, Canadian Member of Parliament (MP) Joël Lightbound took the opportunity to thank the pseudo-anonymous creator Satoshi Nakamoto on the floor of the Canadian parliament while advocating for people to study Bitcoin.During his speech ...

Major cryptocurrency custody firm BitGo is reportedly expanding its regulatory compliance in Germany more than three years after launching a dedicated local subsidiary.BitGo has obtained a cryptocurrency license from the German Federal Financial Supervisory Authority (BaFin), according to ...

Turkey is reportedly drafting fresh regulations to govern crypto-assets in an effort to convince the Financial Action Task Force (FATF), an international organization responsible for combating financial crimes, to remove it from a “gray list” of nations that have not done enough to combat money l ...

As the Bank of Spain embraces the potential adoption of a digital euro, the country’s population doesn’t appear to have the same strong appetite for the European Central Bank’s digital currency project. This emerges from the results of a survey published by the Bank of Spain enti ...

Artificial intelligence developers heavily rely on illegally scraping copyrighted material from news publications and journalists to train their models, a news industry group has claimed.On Oct. 30, the News Media Alliance (NMA) published a 77-page white paper and accompanying submission t ...

Amir Bruno Elmaani, the 31-year-old founder of the now-defunct cryptocurrency scheme Oyster Protocol has been handed the maximum sentence of four years in prison for tax evasion.The United States Attorney’s Office said on Oct. 31 that Elmaani — also known by the alias “Bruno Block” — was s ...

The United States commodities regulator has paid $16 million this year to whistleblowers who gave information leading to successful enforcement actions with a majority of the tips involving crypto.In an Oct. 31 statement, Commodity Futures Trading Commission (CFTC) commissioner Christy Gol ...

United States Senator Cynthia Lummis has scored another one for crypto with a Government Accountability Office (GAO) decision issued on Oct. 31. The GAO found that Securities and Exchange Commission (SEC) Staff Accounting Bulletin 121 should be subject to congressional review. That bulletin, issu ...

The rise of digital currencies, exemplified by Bitcoin (BTC), brought a groundbreaking shift in the financial landscape. However, it also brought to light a critical challenge: price volatility. Bitcoin and many other early cryptocurrencies exhibited extreme price fluctuations, making ...

Bastion, a new cryptocurrency startup created by former Andreessen Horowitz (a16z) executives, has secured two money transmitter licenses (MTL) in the United States.Bastion has acquired MTLs in New Hampshire and Arkansas, the first two licenses obtained by the firm, Bastion announced on Oc ...

Attorneys representing former FTX CEO Sam Bankman-Fried have written another letter to the presiding judge, seeking changes to the jury instructions. In the letter addressed to Judge Lewis Kaplan, the defense attorneys requested that the jury consider the role of English law in governing FTX’s te ...

The Dubai Virtual Assets Regulatory Authority (VARA) has issued a Virtual Asset Service Provider (VASP) license to the crypto wallet Backpack, resulting in the launch of Backpack Exchange. Backpack’s VARA license is limited to crypto exchange services in Dubai and does not allow ...

A coalition of major social media platforms, artificial intelligence (AI) developers, governments and non-governmental organizations (NGOs) have issued a joint statement pledging to combat abusive content generated by AI.On Oct. 30, the United Kingdom issued the policy statement, which inc ...

The crypto world is volatile, with users steadily seeking a sense of trust and security. Now, a traditional finance giant, MultiBank Group, wants to change the global perception of crypto for the better with its know-how and expertise spanning over two decades.It’s hard to claim tha ...

Digital asset manager Valkyrie Investments is the latest firm to amend the spot Bitcoin (BTC) exchange-traded fund (ETF) filing with the United States securities regulators.Valkyrie on Oct. 30 filed an updated spot Bitcoin ETF with the U.S. Securities and Exchange Commission (SEC), accordi ...

The Kenyan government plans to roll out its digital identification system in December 2023 after the testing period, which will take the next few months. According to the president of Kenya, William Ruto, whose speech at the East Africa Device Assembly Kenya plant in Athi River was cited by local ...

Spanish Ministry of Economy and Digital Transformation reported that the first comprehensive European Union crypto framework, the Markets in Crypto Assets (MiCA) Act, will come into force on the national level in December 2025.As follows from the release published by the Ministry on Oct. 2 ...

There’s a slim chance the United States Securities and Exchange chief Gary Gensler could pull the plug on spot Bitcoin (BTC) exchange-traded funds in one “amazingly sadistic” move, according to Bloomberg ETF analysts. In an Oct. 31 tweet directed at senior Bloomberg ...

Terraform Labs co-founder Do Kwon has requested a United States district judge to reject the securities and fraud suit from the federal securities regulator, claiming it has failed to prove they did anything wrong.In an Oct. 27 filing to a New York District Court, lawyers for Kwon and Terr ...

Crypto exchange-traded products (ETPs) saw their largest weekly inflows in more than a year, according to an October 30 report from asset management platform Coinshares. Inflows were $326 million for the week ending October 27, dwarfing the $66 million recorded over the previous week. ...

Last week, the criminal trial of FTX founder and CEO Sam “SBF” Bankman-Fried continued in New York, with the man himself giving testimony as part of his defense. According to the SBF, he didn’t know any details about the creation of North Dimension, an alleged “shadowy entity” used to launder cus ...

The trial of payment platform developer Terraform Labs co-founder Shin Hyun-Seong, also known as Daniel Shin, and seven others got underway in Seoul Southern District Court in South Korea on Oct. 30, according to local news reports. Shin is accused of defrauding investors. Also at issue was wheth ...

The administration of United States President Joe Biden released an executive order on Oct. 30 establishing new standards for artificial intelligence (AI) safety and security. Biden’s address said it is building off previous actions taken, including AI safety commitments from 15 leadi ...

The ghastly events of this past month raise again some troubling questions: Does crypto have a terrorist fundraising problem? Are its networks really being exploited by terrorists to wreak global havoc? If so, what must it do better?On the other hand, maybe the problem is one of perception ...

The United Kingdom government presented an update on its plans to regulate fiat-backed stablecoins. The document, published on Oct. 30, aims to facilitate and regulate the use of fiat-backed stablecoins in U.K. payment chains.According to the document, His Majesty’s Treasury intends to int ...

The Group of Seven (G7) industrial countries are scheduled to agree upon an artificial intelligence (AI) code of conduct for developers on Oct. 30, according to a report by Reuters. According to the report, the code has 11 points that aim to promote “safe, secure, and trustworthy AI w ...

The Monetary Authority of Singapore (MAS), the country’s central bank and financial regulator, is planning to start crypto-related cooperation with some European countries and Japan.The MAS officially announced on Oct. 30 that it is partnering with the Financial Services Agency of Japan (F ...

United States-based cryptocurrency exchange Kraken said it will share the data of 42,000 users with the U.S. Internal Revenue Service (IRS) in compliance with a court order. The information will be sent to the IRS in early November. On its support page, Kraken specifies that the summo ...

Thailand’s Kasikornbank, one of the largest banks in the country, is moving into the cryptocurrency industry by acquiring a majority stake in the local crypto business Satang.Kasikornbank, also known as KBank, acquired 97% of shares in the operator of Thailand’s Satang crypto exchange, acc ...

To track down and counter the sudden disappearance of tokens from crypto wallets requires investors to know the various ways bad actors use to steal cryptocurrencies successfully. Blockchain investigator Bitrace has identified three effective ways hackers gain access to crypto in ...

Zodia, the institutional cryptocurrency custody platform co-owned by British banking giant Standard Chartered, Japanese SBI Holdings and the financial firm Northern Trust, is expanding its services to Hong Kong.Zodia Custody is launching services in Hong Kong in response to growing demand ...

Gary Gensler once criticized the United States securities regulator for its “inconsistent” approach to spot Bitcoin (BTC) products, according to a resurfaced video of Gensler from 2019. The video clip, which has recently made the rounds again on social media, shows the pre-SEC ...

The United Kingdom’s government is in danger of regulating nonfungible tokens (NFTs) in a way that doesn’t suit the true nature of the nascent technology, says Mintable CEO and founder Zach Burks.  In an interview with Cointelegraph, Burks said he believes a recent re ...

Ripple’s chief executive officer(CEO), Brad Garlinghouse, strongly criticized former Securities Exchange Commission(SEC) Chairman Jay Clayton’s remarks regarding the SEC’s regulatory approach. Beginning in the first quarter of 2023, the SEC has initiated various regulatory actio ...

Stuart Alderoty, the Chief Legal Officer (CLO) of Ripple Labs, and the XRP community have expressed their support on the X app (formerly Twitter) for Securities Exchange Commission(SEC) Commissioner Hester Peirce’s stance against the perceived “injustice” in the LBRY lawsuit. ...

Hester Peirce of the United States Securities and Exchange Commission (SEC) has issued a dissenting opinion on the regulator’s lawsuit against blockchain firm LBRY.In an Oct. 27 statement, Peirce described feeling “unsettled” following the SEC’s enforcement action a ...

Kraken will suspend all transactions related to USDT, DAI, WBTC, WETH, and WAXL in Canada in November, according to multiple customer emails shared with Cointelegraph.In response to a request for comment from Cointelegraph, a Kraken spokesperson said, via email, “we constantly monitor the ...

Cryptocurrency exchange Gemini filed an adversary proceeding against bankrupt crypto lender Genesis Global Holdco in the Southern District of New York Bankruptcy Court on Oct. 27. At issue is the fate of 62,086,586 shares of Grayscale Bitcoin Trust (GBTC). They were used as collateral to sec ...

Sam “SBF” Bankman-Fried’s defense attorney Mark Cohen heard testimony from the former FTX CEO on his relationship with Caroline Ellison and political donations from the crypto exchange.According to reports from the courtroom on Oct. 27, Bankman-Fried claimed not to have discussed donations ...

The Federal Reserve Board continues to research a central bank digital currency (CBDC), or at least adjacent technologies, vice chair Michael Barr said on Oct. 27. He also touched on stablecoins at the Economics of Payments XII Conference where his English colleague Sir Jon Cunliffe made his last ...

The jury overseeing the criminal trial of Sam “SBF” Bankman-Fried listened to the former FTX CEO’s testimony for the first time, which involved largely denying knowledge of fraudulent activities at the crypto exchange.According to reports from the New York courtroom on Oct. 27, Bankman-Fri ...

Defense attorneys representing Sam “SBF” Bankman-Fried questioned the former FTX CEO in front of a jury for the first time as they prepared to rest their case.According to reports from the New York courtroom on Oct. 27, Bankman-Fried denied defrauding FTX customers during his time leading ...

The Presidential Annual Programm for 2024, published on Oct. 25 in Turkey’s Official Gazette, sets an aim to finalize the crypto regulations in the country within the following year. Article 400.5 of the almost 500-page document reveals the planned studies to define crypto assets, whi ...

On Oct. 25, Taiwanese legislators introduced the Virtual Asset Management Bill to the unicameral parliament, the Legislative Yuan. The bill aims to provide “better protection” for the customers and “properly supervise” the industry. The 30-page bill appears moderate in its demands for ...

Cynthia Lummis, a crypto proponent representing Wyoming in the United States Senate, has called on the U.S. Justice Department to consider charges against crypto exchange Binance following the terrorist group Hamas’ attack on Israel.In an Oct. 26 letter to U.S. Attorney General Merri ...

Testifying in court but without the jury for his criminal trial present, Sam “SBF” Bankman-Fried faced questions from prosecutors, who pressed the former FTX CEO on his alleged involvement in using customer funds for investments through Alameda Research. According to reports from the ...

Lawmakers in the United Kingdom have passed legislation allowing authorities to seize and freeze cryptocurrencies like Bitcoin (BTC) if used for illicit purposes.According to official data on the U.K.’s parliamentary acts website, the Economic Crime and Corporate Transparency Bill is expec ...

Google has been facing a wave of litigation recently as the implications of generative artificial intelligence (AI) on copyright and privacy rights become clearer.Amid the ever-intensifying debate, Google has not only defended its AI training practices but also pledged to shield users of i ...

The United States Securities and Exchange Commission (SEC) chief Gary Gensler’s speech before the 2023 Securities Enforcement Forum shed light on the regulatory body’s enforcement actions that led to $5 billion in judgments and orders. However, Gensler’s dig at the cryptocurrency market became a ...

The possible contents of Former FTX CEO Sam Bankman-Fried upcoming testimony have been outlined in a letter to Judge Kaplan by his lawyer, Mark Cohen.In the letter submitted by Mark Cohen, to inform the Court of their planned testimony during Mr. Bankman-Fried’s direct examination, th ...

A group of 34 American states are filing a lawsuit against Facebook and Instagram owner, Meta, accusing the company of engaging in improper manipulation of minors who use the platforms. This development comes amid rapid artificial intelligence (AI) advancements involving both text and generative ...

Pro-Ripple lawyer John Deaton has said he expects a lengthy legal process for the Securities Exchange Commission (SEC) v Ripple case, possibly lasting a year. Deaton suggests that a settlement may only be considered if Coinbase's motion to dismiss (MTD) the SEC's case against it is successful.&nb ...

Crypto-promoting firms have breached the United Kingdom’s new crypto marketing rules at least 221 times since coming into force in early October, says the country’s financial regulator. In an Oct. 25 statement, the U.K. Financial Conduct Authority (FCA) said since the Oct. 8 cr ...

Blockchain forensic firm Elliptic says there’s “no evidence” that Hamas is receiving a significant volume of cryptocurrency donations to fund its attacks against Israel.“There is no evidence to support the assertion that Hamas has received significant volumes of cry ...

Members of the United States House of Representatives have chosen Mike Johnson to be the body’s next speaker — the second in line to the U.S. presidency and a very powerful figure in Congress. In an Oct. 25 vote, all 220 Republicans present in the House voted for Johnson, ...

Sam Bankman-Fried (SBF) had a lot going against him well before the start of his criminal trial: the ire of many in the crypto space, suspicion from United States policymakers, and negative attention from some in the media looking for clickbait angles to associate with the former FTX CEO.  ...

Former FTX CEO Sam “SBF” Bankman-Fried will testify as part of his defense case, said his attorney Mark Cohen.In an Oct. 25 telephone conference between SBF’s lawyers, prosecutors, and Judge Lewis Kaplan, Cohen said following the prosecution completing the presentation of its case on Oct. ...

On Oct. 8, the United Kingdom’s Financial Conduct Authority (FCA) imposed new marketing rules compelling cryptocurrency firms to promote their products and services clearly, fairly and transparently. From banning referral bonuses to crypto firms implementing a 24-hour cooling-off peri ...

The Central Bank of Spain joined a chorus of European banking institutions, preparing their customers for all the benefits of the “digital euro.” The Bank of Spain last week published a short text explaining the nature and uses of the European Union’s potential central bank digital currency (CBDC ...

The United States Securities and Exchange Commission has fined investment adviser BlackRock Advisors $2.5 million, accusing it of failing to accurately describe investments in the entertainment industry that comprised a significant portion of a publicly traded fund it managed.Acc ...

The United States Internal Revenue Service (IRS) has extended the commentaries period for crypto tax reporting rules proposed in August 2023. The public consultation will last until Nov. 13. The “Gross Proceeds and Basis Reporting by Brokers and Determination of Amount Realized and Ba ...

The United States Securities and Exchange Commission overstepped its authority when it classified Coinbase-listed cryptocurrencies as securities, the exchange has argued in its final bid to dismiss a lawsuit by the securities regulator.In an Oct. 24 filing in a New York District Court, Coi ...

Massachusetts Sen. Elizabeth Warren is at it again. With mainstream press outlets including Germany’s Deutsche Welle running sensationalist headlines — “How cryptocurrency fueled Hamas’ terrorist attack” — Warren is using Hamas’ attack on Israel to fuel h ...

Tom Emmer, the current majority whip and a crypto proponent, has reportedly dropped his bid to become the next speaker of the United States House of Representatives — a position second in line to the U.S. presidency.According to multiple reports from major news outlets on Oct. 24, Represen ...

Crypto lending platform BlockFi has emerged from bankruptcy and is ready to pay back some of its creditors, according to an October 24 blog post. Withdrawals “are currently available to nearly all Wallet customers,” the post stated, adding that Blockfi Interest Account (BIA) and Loan ...

Republican members of the United States House of Representatives have chosen Tom Emmer, the current majority whip and crypto proponent, as their nominee to be the next speaker. According to multiple reports from Oct. 24, Representative Emmer will be the Republicans’ nominee in t ...

Cryptocurrency advocacy group DeFi Education Fund (DEF) has urged a United States court to consider the unique aspects of blockchain technology when evaluating the privacy rights of cryptocurrency users under the Fourth Amendment.DEF filed an amicus brief to the U.S. Court of Appeals (Firs ...

Crypto-friendly Republican Congressman Tom Emmer is pursuing a nomination to become House speaker, with the 62-year-old receiving endorsement from multiple lawmakers. Congressman Patrick McHenry continues to oversee the position on an interim basis, following a first round of voting on Oct ...

The Singapore High Court has allowed financial investigation firm Intelligent Sanctuary (iSanctuary) to attach nonfungible tokens (NFTs) containing a legal document to cold wallets associated with a hack, according to United Kingdom-based iSanctuary and local press accounts.A court-issued ...

Greek Prime Minister Kryiakos Mitsotakis announced the establishment of an advisory committee to create a national strategy for artificial intelligence (AI) in Greece on Oct. 19.The Greek government said the “exponential pace” of AI development has created the necessity for an advisory com ...

The United States Treasury Department’s Financial Crimes Enforcement Network, or FinCEN, issued an alert for financial institutions as part of efforts to identify “suspicious activity” related to funding terrorist groups.In an Oct. 20 notice, FinCEN said the terrorist org ...

The Securities and Futures Commission (SFC) of Hong Kong announced it will update its policies on virtual currency sales and requirements “in light of the latest market developments and enquiries from the industry”.In an Oct. 20 notice, the SFC said under the updated guidelines, certain vi ...

Tether Holdings, the issuer of the world’s largest stablecoin by market capitalization, Tether (USDT), is reportedly preparing to update the frequency of releasing its reserve data reports.Paolo Ardoino, Tether’s chief technical officer and upcoming CEO, disclosed that the firm plans to st ...

The Chamber of Digital Commerce has aligned with various digital assets firms, associations, legal experts and legislators in a collective effort to challenge the Binance vs. U.S. SEC lawsuit. The blockchain trade association through the recently filed amicus brief seeks to thwart the ...

Thor Technologies, under the leadership of its founder David Chin, has faced a legal setback in an ongoing dispute with the U.S. Securities and Exchange Commission (SEC) over the unapproved sale of $2.6M in crypto asset securities.The SEC on Oct. 19 announced their victory after a de­fault ...

Ripple’s new win in the legal battle against the United States securities regulators has been marred for crypto enthusiasts by news of the blockchain platform LBRY shutting down operations, which has triggered the community to react.The U.S. Securities and Exchange Commission (SEC) a ...

After a series of remarks about the potential benefits of central bank digital currency (CBDC) for the national economy, the Central Bank of Argentina said it has accelerated its work on the legislation to implement the CBDC workflow in the country. On Oct. 18, during a public discuss ...

The European Banking Authority (EBA) and the European Securities and Markets Authority (ESMA) on Oct. 20 jointly released a consultation paper featuring two drafts. These drafts encompass the assessment of the suitability of management body members and shareholders or members holding qualifying s ...

On Oct. 18, the European Data Protection Board (EDPB) and the European Data Protection Supervisor (EDPS) issued a joint opinion statement on the regulation of “digital euro,” proposed by the European Commission in July 2023. The regulators made several recommendations to enhance the personal data ...

In the fraud trial of Sam Bankman-Fried, prosecutors have requested the judge to inform the jury that the defendant's assertion that he is an effective altruist should not serve as a legitimate defense. Bankman-Fried faces allegations of misappropriating billions of dollars from FTX customers for ...

Crypto exchange Binance has announced it has onboarded new partners to handle euro deposits and withdrawals, months after losing its previous fiat partner PaySafe in September. In an Oct. 19 statement, Binance announced that it had signed agreements with new fiat partners for euro pay ...

Over two dozen former employees of Ethereum infrastructure firm ConsenSys have filed a fresh lawsuit against the firm’s founder and CEO, Joseph Lubin, over claims he diluted employee equity shares against earlier promises.The former staff allege that Lubin — who is also a co-founder of Eth ...

Low-power wearable technology, including virtual and augmented reality devices crucial to the metaverse, will be permitted to tap into the 6 GHz frequency band following a rule change from the United States communications regulator. In an Oct. 19 press release, the Federal Communications C ...

Lawyers representing the United States Securities and Exchange Commission announced they will seek to dismiss all claims against Ripple CEO Brad Garlinghouse and co-founder Chris Larsen.In an Oct. 19 filing in U.S. District Court for the Southern District of New York, the SEC notified the ...

The United States Treasury Department is reportedly planning to expand its sanctions to designate cryptocurrency mixers as money-laundering hubs following Hamas’ attack on Israel.According to an Oct. 19 report in The Wall Street Journal, Deputy Treasury Secretary Wally Adeyemo said the add ...

U.S. surveillance and facial recognition firm Clearview AI has won a court appeal in the United Kingdom after being accused of alleged infractions related to the U.K’s general data protection regulation (GDPR). Originally, the company was fined nearly $10 million for breaches of the U ...

United States-based crypto advocacy organizations are calling out Senator Elizabeth Warren and other lawmakers for some of the claims made regarding connections between the terrorist group Hamas and financing through cryptocurrency.On Oct. 17, Sen. Warren and more than 100 lawmakers signed ...

One of the largest European crypto exchanges, a Vienna-based BitPanda, became one of the first foreign entities to receive a virtual assert service provider license in Norway. The announcement came on the company’s official X (former Twitter) account on Oct. 19. BitPanda holds a licen ...

New York’s attorney general has filed a lawsuit against cryptocurrency firms Gemini, Genesis and Digital Currency Group for allegedly defrauding investors through the Gemini Earn investment program.An official statement from the office of attorney general Letitia James outlines the ba ...

Bank of Finland (BOF) is coordinating the creation of a Finnish instant payment solution compatible with European standards. BOF board member and member of the Governing Council of the European Central Bank (ECB) Tuomas Välimäki made the announcement on Oct. 19. Välimäki revealed that ...

Elon Musk, Mark Cuban, with others, have collaboratively submitted a shared amicus brief to the Supreme Court, wherein they raise concerns about the Securities and Exchange Commission's (SEC) approach to conducting internal proceedings without the inclusion of juries.Mark Cuban, ...

The United States-based cryptocurrency exchange Coinbase is strengthening its presence in Europe and has officially announced Ireland as its chosen main European crypto hub.Coinbase has selected Ireland as its EU entity location of compliance with Europe’s major cryptocurrency regulatory f ...

The Office of the Comptroller of the Currency (OCC), an independent bureau of the Treasury Department that supervises “national” commercial banks in the United States, will host a symposium on tokenization in February 2024. The upcoming symposium is set to ignite a public dialogue on ...

Coinbase crypto exchange chief legal officer Paul Singh Grewal called upon the crypto community to join the movement against the United States Treasury’s proposed tax reporting regulations on cryptocurrencies. Grewal urged the community to oppose the proposed regulations as it could set a d ...

Stéphanie Cabossioras has stepped down from her role as the executive director of Binance France, becoming at least the 10th senior executive to leave Binance this year.In an Oct. 19 post on X (formerly known as Twitter), Binance France resident David Prinçay confirmed Caboss ...

Sui’s native SUI token has struggled to regain ground after plunging more than 9% amid allegations from South Korean regulators, which have accused the Sui Foundation of manipulating the supply of the token for its own gain. SUI token gained a little under 1% in the last 24 hour ...

The Inspector General’s Office (OIG) of the Federal Deposit Insurance Corporation (FDIC), the independent United States government body that provides deposit insurance to commercial and savings banks, has published an evaluation report on the corporation’s crypto asset risk strategy. ...

Major cryptocurrency exchanges and businesses are being lured to a proverbial crypto oasis around the Persian Gulf, according to Binance FZE’s general manager.Alex Chehade, who heads Binance's local operation in Dubai, tells Cointelegraph reporter Ezra Reguerra that progressive regulatory ...

During her opening speech at the International Monetary Fund’s (IMF) seminar on financial inclusion in Marrakesh, IMF Managing Director Kristalina Georgieva said digitalization is “the most important way” to scale up financial inclusion. “It is digital that moves help to people, inves ...

The eighth iteration of the Directive on Administrative Cooperation (DAC8), a cryptocurrency tax reporting rule, was formally adopted by the Council of the European Union on Oct. 17. The regulation will enter into force after it's published in the Official Journal of the EU. DAC was s ...

The United Kingdom (U.K.) will be hosting the world's inaugural international summit on artificial intelligence (AI) safety in Nov. 2023. This event seeks to establish the U.K.'s presence as a mediator between the United States, China and the European Union in the critical field of technology, po ...

Decentralized autonomous organizations (DAOs) need a comprehensive regulatory framework if they are to make a place in the future of the financial sector, suggests the European Central Bank (ECB) occasional paper (OP).The OP “The future of DAOs in finance - in need of legal status,&r ...

The use of cryptocurrency by Hamas militants to fund recent attacks on Israel may have set back Coinbase’s crypto lobbying efforts in the United States, says a new investment report from Berenberg Capital Markets. In an Oct. 18 research note, Berenberg lead analyst Mark Palmer said th ...

North Carolina Representative Patrick McHenry, chair of the United States House Financial Services Committee and crypto proponent in Congress, is still temporarily in the third most powerful role in government after one of his Republican colleagues failed to secure enough votes.In a vote c ...

South Korea’s Financial Supervisory Service (FSS) is preparing regulations to supplement the Virtual Asset Users Protection Act passed earlier this year, according to local reports. New regulations should be ready by January, well ahead of the law entering into force, the FSS head said. ...

The United States Department of Commerce’s Bureau of Industry and Security (BIS) released a notice on Oct. 17 expanding the already existing export controls of artificial intelligence (AI) chips to China. The BIS wrote that the newly released rules “reinforce” those put in place back ...

The European Union’s financial regulatory landscape is in flux with the introduction of multiple Anti-Money Laundering (AML) directives and related laws. These regulations, although designed to protect the financial system, come at a hidden, and sometimes steep, cost to consumers and financ ...

Federal Reserve Board governor Michelle Bowman shared her views on financial innovation in a speech at Harvard Law School on Oct. 17. Bowman has spoken several times on the topic, and her position seems to be growing more bearish. Bowman spoke at length about central bank digital curr ...

Lawyers representing former FTX CEO Sam “SBF’ Sam Bankman-Fried conducted their cross-examination of Nishad Singh, pressing the former engineering director on events leading to Alameda Research using funds from the crypto exchange.According to reports from the courtroom on Oct. ...

Cryptocurrency exchange Binance.US has updated its terms of service, hinting that direct withdrawals in the U.S. dollar are no longer supported on the platform.Binance.US updated its terms of service on Oct. 16, significantly modifying the section about the “BAM Fiat Wallet,” r ...

Russia’s largest telecommunications firm MTS claims that it will launch an advertising service targeting Russian Telegram users, while the social messaging application denies that it has any agreements in place.The company made the announcement on Oct. 17, outlining the launch of advertisi ...

Cryptocurrency investors in Europe are not yet protected under European Union cryptocurrency asset market rules and it will take some time for the protections to take effect.Europe’s securities regulator, the European Securities and Markets Authority (ESMA), on Oct. 17 issued a statement a ...

The Basel Committee on Banking Supervision of the Bank for International Settlements (BIS) released a consultation paper on Oct. 17, proposing to make it compulsory for banks to disclose their crypto exposure. The Basel Committee comprises central banks and financial authorities from 28 ju ...

British citizens that hope to access legal assistance through the proposed ‘Help with Fees’ (HwF) scheme will not have cryptocurrency holdings classified as disposable income.The Ministry of Justice published its response following public consultation over its proposed legal aid scheme aim ...

The Bank of Canada published a staff note on decentralized finance (DeFi) on Oct. 17, assessing the innovations that made it popular and the challenges and risks associated with its use.The staff note described DeFi as a multi-layered structure, with the Ethereum blockchain serving as ...

Nonfungible token (NFT) artist Ryder Ripps’ most recent attempt to dismiss the Bored Ape Yacht Club-related lawsuit against him appears to have fallen on skeptical ears.In an Oct. 17 hearing, three judges from the United States Court of Appeals for the Ninth District appeared largely unper ...

Customers of bankrupt crypto exchange FTX and FTX US could see over 90% of assets returned to them by the end of the second quarter of 2024 after a proposed settlement was reached between FTX creditors and debtors.On Oct. 17, FTX debtors said they reached a “major milestone” in ...

A Pennsylvania House Representative has cut a two-year crypto mining ban from their bill to regulate the sector’s energy consumption claiming trade labor unions pressured the change.On Oct. 16, the Pennsylvania House Environmental Resources and Energy Committee passed the Cryptocurrency En ...

The administration of New York City Mayor Eric Adams released a plan for the adoption and regulation of artificial intelligence (AI) within the local government, along with a new integration into city applications. On Oct. 16, the administration released an update saying it is develop ...

Nishad Singh, the former engineering director at now-defunct crypto exchange FTX, has reportedly said he “hopes for no jail time” as part of an agreement with prosecutors.According to reports from the criminal trial of Sam “SBF” Bankman-Fried on Oct. 16, Singh revea ...

Last week, the FTX court saga had elements of a TV drama, with Sam “SBF” Bankman-Fried’s former business associate and girlfriend, Caroline Ellison, sharing some shocking stories about SBF’s rule over the company. Ellison admitted to fraud during her time as CEO at Alameda under Bankman-Fried’s d ...

A United States judge has approved an order requiring Genesis Global entities to produce certain documents in accordance with a subpoena requested by Terraform Labs.In an Oct. 13 filing in U.S. District Court the Southern District of New York, Judge Jed Rakoff said Genesis would have 5 day ...

United States Securities and Exchange Commission chair Gary Gensler has reportedly stated that, without some form of intervention, a financial crisis stemming from the widespread use of artificial intelligence was “nearly unavoidable.” The chair’s comments came during an interview wit ...

The United States Securities and Exchange Commission released its 2024 examination priorities report on Oct. 16. The agency’s Division of Examinations has been publishing similar reports for over a decade to let its registrants know the emerging risks it will be focusing on. Crypto dealer-b ...

Former FTX engineering director Nishad Singh reportedly told a New York courtroom that former CEO Sam “SBF” Bankman-Fried had a habit of deciding on purchases through Alameda Research by himself.According to reports from SBF’s criminal trial on Oct. 16, Singh said while C ...

The Reserve Bank of Australia (RBA) is open to the idea of using central bank-issued digital currency (CBDC) as the future of money where CBDC would represent a tokenized form of central bank reserves.Brad Jones, the assistant governor (Financial System) of RBA, in his speech titled “A Tok ...

Fraudsters in Ireland prefer targeting traditional banking customers instead of cryptocurrency investors amid a two-year-long bear market.The frequency of cryptocurrency scams is often directly proportional to the hype and profits around the ecosystem at a given time. It appears that the o ...

The United States government has become one of the largest Bitcoin holders with over 200,000 BTC worth more than $5 billion despite selling a few thousand BTC worth millions earlier this year.According to a data analysis based on public filings, crypto firm 21.co estimated that the U.S. go ...

Australian crypto exchanges have praised plans from the Australian Treasury to regulate cryptocurrency exchanges under pre-existing financial services licensing measures.In an Oct. 16 consultation paper, the Treasury outlined a new suite of proposed regulations, that suggested regulating c ...

The Singapore entity for Upbit, South Korea’s largest exchange by volume, has been given in-principal approval for a Major Payment Institution (MPI) license in Singapore.On Oct. 16, Upbit Singapore said the Monetary Authority of Singapore (MAS) gave the in-principle license nod, allowing i ...

The Australian federal government may soon require cryptocurrency exchanges to hold a financial services license issued by the local financial regulator, the Australian Securities and Investment Commission (ASIC). In the newly-unveiled “Regulating digital asset platforms” consultation ...

The North American Securities Administrators Association (NASAA) has filed an amicus curiae in support of the U.S. Securities and Exchange Commission (SEC) in its lawsuit against Coinbase. The NASAA argued that digital assets should not be treated as "somehow special" and that the SEC's actions agai ...

The United Nations and the Dutch government have unveiled plans to establish a framework for the ethical oversight of artificial intelligence (AI). The project, titled "Supervising AI by Competent Authorities," is a collaboration between the Dutch Authority for Digital Infrastructure and UNESCO (the ...

Lennix Lai, the Global Chief Commercial Officer at OKX, discussed various aspects of the cryptocurrency industry during an interview at the Blockchain Economy Summit in Dubai. Here are some key points from the interview: Crypto vs. Traditional Finance: Lai highlighted the differences between work ...

Agustín D'Attellis, the Director of the Central Bank of the Argentine Republic (BCRA), has publicly supported the promotion of a central bank digital currency (CBDC), referred to as the "digital peso" (PAD), as a remedy for the Argentine economy. D'Attellis believes that the traceability of CBDC tra ...

The high-profile trial of former FTX CEO Sam Bankman-Fried commenced on October 3, attracting significant attention both inside and outside the Manhattan courtroom. Here are some notable observations and details from the first day of the trial: Bankman-Fried's Physical Appearance: ...

Mário Centeno, the Governor of Banco de Portugal, has joined the growing number of regulators advocating for a global framework to regulate cryptocurrencies effectively. In his opening speech at the 2023 Banco de Portugal Financial Stability Conference on October 2, Centeno emphasized the need for i ...

Recent developments in Hong Kong are poised to breathe new life into the cryptocurrency scene in East Asia. This region has faced significant challenges, primarily due to China's comprehensive ban on cryptocurrency trading activities that have been in place since 2019. However, the tide may be turni ...

Coinbase, the U.S.-based cryptocurrency exchange, has received a Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS). This significant regulatory approval allows Coinbase to expand its digital payment token services to individuals and institutions in Singapore. The ...

Former FTX CEO Sam Bankman-Fried reportedly explored the idea of paying Donald Trump not to run for the United States presidency. According to Michael Lewis, the author of "Going Infinite: The Rise and Fall of a New Tycoon," this proposal emerged during his interviews and discussions with Bankman-Fr ...

Effective altruism, an ethical philosophy that encourages people to make as much money as possible to give it away later for charitable purposes, played a role in the decision-making processes at crypto exchange FTX, leading to what some described as "increasingly risky and ridiculous" actions. Adit ...

Investment manager VanEck is gearing up for the launch of its Ethereum Strategy ETF (Exchange-Traded Fund). The company released two TV commercials with the theme "Enter the Ether," hinting at the upcoming launch of the ETF, which some analysts speculate could happen as early as October 2. VanEck ...

Coinbase International Exchange, holding a class F license from the Bermuda Monetary Authority (BMA), has announced that it has obtained additional regulatory approval to offer perpetual futures trading to non-US retail customers. Coinbase International had previously launched crypto derivatives ...

In South Korea, a recent report from the country's tax organization, the National Tax Service (NTS), highlights the dominance of cryptocurrencies like Bitcoin (BTC) among reported overseas assets. The NTS issued an official announcement on September 20, revealing that 1,432 individuals and corpor ...

A former Deutsche Bank investment banker, Rashawn Russell, has pleaded guilty to investment fraud in connection with a fraudulent cryptocurrency trading scheme. Russell, aged 27, was charged earlier this year for his involvement in a scheme where he operated a fraudulent cryptocurrency investment fu ...

Fintech innovations and emerging technologies have been rapidly evolving worldwide, prompting global regulators to adapt and establish regulatory frameworks. In this landscape, Latvia, a small Baltic country neighboring Estonia and Lithuania, has been quietly joining the efforts to understand and re ...

The interim judicial managers overseeing the affairs of Hodlnaut, the collapsed cryptocurrency lender, have reportedly turned down a recent buyout offer, primarily due to a substantial decline in the settlement token's value. Hodlnaut administrators have expressed reservations about the acquisition ...

Rupert Schaefer, the Executive Director of Strategy, Policy and Control at the German Federal Financial Supervisory Authority (BaFin), has emphasized the importance of global regulation for the cryptocurrency industry. In a blog post, Schaefer likened regulators to air traffic controllers, and he hi ...

The Economic Crime and Corporate Transparency Bill in the United Kingdom (UK), which aims to expand authorities' ability to combat illicit cryptocurrency usage and tackle crypto-related financial crimes, is nearing the final stages of approval by the House of Lords. This bill, introduced in Septembe ...

Hong Kong authorities are taking steps to tighten regulations on the cryptocurrency market following the arrest of six individuals connected to an alleged fraud involving an unlicensed crypto exchange named JPEX. The Chief Executive of Hong Kong, John Lee Ka-chiu, announced on September 19th that ...

The United Kingdom's competition watchdog has expressed concerns about the potential for a small number of firms to dominate the artificial intelligence (AI) industry, which could lead to consumers being exposed to harmful information. In a report released on September 18, the Competition and Market ...

Uzbekistan is undergoing a transformative journey in cryptocurrency regulation, marked by comprehensive licensing requirements and taxation initiatives. These reforms signify a progressive shift in how the nation perceives and manages digital assets, covering a wide spectrum of cryptocurrency-relate ...

The U.S. Securities and Exchange Commission has submitted a filing urging the court to grant its motion to appeal a ruling from the Ripple Labs lawsuit that deemed that XRP was not a security when sold to retail investors. The agency argued that there are “knotty legal problems&rdquo ...

The United States Federal Reserve Bank vice chairman spoke at the Philadelphia Fed’s fintech event on Sept. 8 about the central bank's role in financial innovation. Research and supervision was the short answer and a nod to the FedNow Service.Along with the standard disclaimer about ...

Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you the most significant developments from the past week.The past week in the DeFi ecosystem was filled with ups and downs, from the United States Commodity Fut ...

The Blockchain Association, a United States-based cryptocurrency advocacy group, has submitted suggestions for lawmakers to consider in potential legislation on the tax treatment of digital assets.In a Sept. 8 letter to U.S. Senators Ron Wyden and Mike Crapo, the Blockchain Association sai ...

Financial technology firm Ripple is expanding its portfolio of regulatory licenses in the United States with the acquisition of Fortress Trust, according to an announcement on Sep. 8. Fortress Trust provides regulatory and technology infrastructure for blockchain organizations. The co ...

The United States regulators have finally taken steps to resolve an enforcement case against the collapsed Mirror Trading International (MTI).The United States District Court for the Western District of Texas has ordered MTI to pay $1.7 billion in restitution to victims for operating a fra ...

The former CEO of Turkish crypto exchange Thodex, Faruk Fatih Özer, was sentenced to 11,196 years in prison by a Turkish court on charges of "establishing, managing and being a member of an organization", "qualified fraud", "laundering of property values".The Anatolian 9th High Criminal Co ...

The Monetary Authority of Singapore (MAS) has said that no businesses have qualified to participate in the FinTech Regulatory Sandbox framework as cryptocurrency payment providers. Responding to a letter criticizing the Singaporean government’s lack of public consultation and oversigh ...

Australian fintech firm Block Earner is charging ahead with plans to launch a crypto-backed loans product, despite staring down an upcoming court date with the financial regulator for allegedly offering financial products without a license. The new crypto loan product allows Australia ...

Blockchain-based file-sharing and payment network LBRY may be reversing course on an earlier decision to wind down, filing a notice of appeal against a federal judge ruling in July that sided with the Securities and Exchange Commission.On Sept. 7, LBRY filed a notice of appeal to the Unite ...

Coinbase has flagged several countries outside the United States where it intends to focus its operations in the near term, citing their comparatively clearer crypto laws.In a Sep. 6 blog post, Coinbase’s international business VP, Nana Murugesan and international policy VP, Tom Duff ...

The United States Commodity Futures Trading Commission (CFTC) is taking regulatory action against three decentralized finance protocols for allegedly failing to register various derivatives trading offerings.The U.S. commodities regulator announced that it issued orders against protocol Op ...

Caroline Pham, a commissioner with the United States Commodity Futures Trading Commission (CFTC), has suggested a limited pilot program in an effort to address crypto regulation.In a pre-recorded message for a Cato Institute event on Sept. 7, Pham said that following public roundtable disc ...

Ryan Salame, the former co-CEO of FTX Digital Markets, has pleaded guilty to charges related to defrauding the United States Federal Election Commission and conspiracy to operate an unlicensed money-transmitting businessAccording to a Sept. 7 announcement from the U.S. Justice Department, ...

The United States House Financial Services Subcommittee on Digital Assets, Financial Technology and Inclusion will be holding a hearing discussing central bank digital currencies (CBDCs) for the first time in months.In a Sept. 7 announcement, Republican lawmakers on the committee said they ...

The $41 million hack of crypto gambling site Stake was carried out by the North Korean Lazarus Group, the Federal Bureau of Investigation (FBI) stated in an announcement on Sept. 7. This group has stolen more than $200 million of crypto in 2023, the announcement stated. ...

Big businesses are able to act as “mini-governments” and impose their own rules on payment infrastructure, Rohit Chopra, chair of the United States Consumer Financial Protection Bureau (CFPB), said at a fintech conference hosted by the Philadelphia Federal Reserve Bank on Sept. 7. As ...

The United Kingdom’s Financial Conduct Authority, or FCA, has reiterated its warning for all crypto asset firms marketing to users in the country to be in compliance with rules going into effect in October 2023, but added companies could have “more time to implement certain changes&rd ...

A court ruling that cleared Ripple's XRP token of being considered a security offering might signal a turn in the tide against regulatory scrutiny of the cryptocurrency ecosystem in the United States and current lawsuits involving the likes of Coinbase and Binance.US and pending ETF applicat ...

Ryan Salame, the former co-CEO of FTX Digital Markets, is reportedly planning to plead guilty to criminal charges related to his alleged involvement in illicit activities at the failed cryptocurrency exchange.According to a Sept. 7 Bloomberg report citing “people familiar with the case”, S ...

East Asian country Taiwan is reportedly planning to put restrictions on unregistered overseas crypto exchanges operating within its jurisdiction as a part of its incoming guidance for virtual asset service providers (VASPs). On Sept. 7, a local media outlet, the Central News Agency,&n ...

Miami Mayor Denis Suarez, who’s running for president of the United States, took a shot at his Republican counterpart in the presidential race, Florida Governor Ron DeSantis. Emphasizing his own support for crypto, Suarez said about DeSantis: “You gotta go beyond just sayi ...

The world’s leading crypto exchange by trading volume Binance has seen the departure of 10 key executives from various departments in the first nine months of 2023. While executive departures from a company are a norm based on their preset contractual obligations, the number of executives l ...

The International Monetary Fund (IMF) and the Financial Stability Board (FSB) have published a joint paper containing policy recommendations at the request of the Indian G20 Presidency. The organizations have created the paper to combine the standards and consolidate collective recommendatio ...

The European Union's financial services chief, Mairead McGuinness, believes there’s no reason to rush with the digital euro until after the next European elections in June 2024. In her opinion, the EU’s central bank digital currency (CBDC) project should be approached “quietly and slowly” by the ...

Two federal agencies of the United States — the Department of the Treasury and the Internal Revenue Service (IRS) — have released a set of cryptocurrency regulations proposal detailing brokers' reporting requirement.The Office of Advocacy of the U.S. Small Business Administrati ...

While Nigeria appears to have a high level of blockchain and crypto awareness, the country is still facing issues related to public education in the field. A group of local blockchain experts discussed blockchain education's challenges in Nigeria at the Stakeholders in Blockchain Technology ...

Australian investors will be left exposed to unregulated markets and investments will be driven away from the country if the Digital Assets (Market Regulation) Bill is rejected by parliament, the bill's author Senator Andrew Bragg has warned.On Sept. 4, the Senate Committee on Economics Le ...

The United States’ legal system is set to bring the crypto industry “back in the game” after the Biden administration “screwed up” its crypto policy, says Ripple Labs chair and co-founder Chris Larsen.Speaking to Bloomberg on Sep. 7 about his firm’s July ...

Bankrupt crypto lender Celsius Network has filed a complaint against lending firm EquitiesFirst Holdings in a bid to recoup assets.According to a sealed adversary complaint filed on Sept. 6, Celsius is seeking injunctive relief and a declaratory judgment associated with the "recovery of mo ...

The Financial Accounting Standards Board (FASB) has unanimously approved rules for accounting for the fair value of companies’ cryptocurrency holdings, according to media reports. The rules will go into effect in 2025.The FASB is the United States organization that sets accounting an ...

Blockchain analytics platform Arkham Intelligence claims to have identified the addresses of the Grayscale Bitcoin Trust. The trust consists of more than 1,750 addresses holding a total of over $16 billion worth of Bitcoin (BTC), according to a Sept. 6 thread on X (formerly Twitter). Arkham claim ...

Former FTX CEO Sam Bankman-Fried, also known as SBF, lost an initial appeal to return to being free on bail prior to his criminal trial.In a Sept. 6 filing in the United States Court of Appeals for the Second Circuit, Clerk of the Court Catherine O’Hagan Wolfe said a circuit judge had deni ...

Roman Storm, the co-founder of controversial cryptocurrency mixer Tornado Cash arrested in August, has reportedly pleaded not guilty to all charges related to money laundering and violations of United States sanctions.According to an Sept. 6 X thread from Inner City Press, Storm pleaded no ...

Federal Reserve governor Philip Jefferson has won confirmation from a majority of members of the United States Senate, placing him in position to become the Fed's next vice chair.In a 88-10 vote in the U.S. Senate on Sept. 6, Jefferson won a majority of support needed for his confirmation ...

A federal judge has ordered that certain bank accounts and properties connected to former Celsius CEO Alex Mashinsky be frozen following a motion from the United States Justice Department.According to a Sept. 5 filing in U.S. District Court for the Southern District of New York, a judge si ...

In the latest episode of Cointelegraph’s The Market Report, analyst Marcel Pechman explores the drivers that point to Bitcoin heading to $22,000, with investor sentiment worsening after Grayscale Investment’s much-hyped legal victory against the United States Securities and Exchange Commissi ...

Cryptocurrency exchange Coinbase has rolled out a crypto lending service for institutional investors in the United States, reportedly aiming to capitalize on massive failures in the crypto lending market.Coinbase has quietly launched an institutional-grade crypto lending platform, Coinbase ...

The United States Attorney's Office has filed an affirmation of the denial of bail to former FTX CEO Sam Bankman-Fried, claiming that he could attempt witness tampering, and stating that no release conditions would assure the safety of the witnesses. Prosecutors responded to several claims made i ...

Central bank digital currencies (CBDC) and blockchain technology are likely to displace traditional banks, according to a lawmaker in Russia.Anatoly Aksakov, head of Russia’s parliamentary financial committee and a major skeptic of Bitcoin (BTC), has predicted that the traditional banking ...

Under India's G20 presidency, active discussions around establishing a global framework for cryptocurrencies are underway, India’s minister of finance Nirmala Sitharaman has said. On Aug. 28, Indian Prime Minister Narendra Modi pushed for global collaboration on formulating crypto reg ...

Currently, no accounting standards are dedicated to crypto assets, so broader guidelines per the International Financial Reporting Standards (IFRS) and Generally Accepted Accounting Practice (GAAP) are applied to cryptocurrency accounting.Balance sheets are among the three primary financia ...

Grayscale has told the Securities and Exchange Commission it has no legal reasoning left to block the conversion of the asset manager’s flagship Bitcoin (BTC) fund to a spot exchange-traded fund (ETF).On Sept. 5, Grayscale’s lawyers sent a letter to the SEC requesting the pair meet to disc ...

A plurality of experts believe the United States should create a new federal agency dedicated to artificial intelligence governance, according to a survey conducted by Axios, Generation Lab, and Syracuse University.The survey polled 215 computer science professors across 65 of the most pre ...

Sina Weibo, one of the most popular Chinese social media apps with over 258 million daily active users, has removed 80 influencer accounts promoting cryptocurrency activities citing official legislation.According to the Sept. 5 announcement, 80 crypto influencer accounts with over 8 millio ...

A report from the World Federation of Exchanges (WFE) noted that 40% of the crypto trading platforms are decentralized and make use of distributed ledger technology. On the other hand, the majority, or 60%, of platforms make use of Central Limit Order Books (CLOBs), quite similar to regulated exc ...

Crypto scams targeting MetaMask users are using government-owned website URLs to con victims and access their crypto wallet holdings.Ethereum-based crypto wallet MetaMask has been a long-standing target for scammers — which involves redirecting unwary users to fabricated websites tha ...

The principal financial regulator of Japan, the Financial Services Agency (FSA), has decided to take crypto regulation into its own hands and has proposed to change the tax code in regard to digital assets. The request was submitted by the FSA on Aug. 31. The most notable suggestion i ...

The European Central Bank (ECB) is quite happy with the European Commission's (EC) legislative proposals for the digital euro. ECB executive board member Fabio Panetta told the European Parliament’s Committee on Economic and Monetary Affairs in a speech on Sept. 4 that the proposals “ ...

On Aug. 29, crypto asset manager Grayscale Investments scored a major victory against the United States Securities and Exchange Commission in its efforts to convert its over-the-counter Grayscale Bitcoin Trust (GBTC) into a listed Bitcoin exchange-traded fund (ETF). The U.S. Court of Appeals Circ ...

Harvard legal scholar and Yeshiva University law professor Christine Kim recently published a research paper detailing arguments for not only taxing the metaverse but treating it as “a laboratory for experimenting with cutting-edge policy.”In the paper, dubbed simply “Taxing the Metaverse, ...

Tharman Shanmugaratnam, former chair of the Monetary Authority of Singapore, has won the election for the city-state’s presidency with more than 70% of the vote.According to multiple reports from Sept. 2, Shanmugaratnam defeated presidential candidates Ng Kok Song and Tan Kin Lian to becom ...

Australia’s Senate Committee on Economics Legislation has finally provided feedback to the cryptocurrency bill introduced by senator Andrew Bragg.The committee on Sept. 4 reported on the draft bill referred to as “The Digital Assets (Market Regulation) Bill 2023,” asking the bill authors t ...

The United Kingdom released its five “ambitions” for its global artificial intelligence (AI) safety summit on Sep. 4, with a big focus on risks and policy to support the technology. The summit, which will take place on Nov. 1-2, is anticipated to unite thought leaders from around the ...

OKX cryptocurrency exchange has entered the final stage before acquiring a virtual asset service provider license (VASP) in Hong Kong. The crypto exchange expects the final approval for a VASP license by March 2024.In an interview, Li Zhikai, the global chief commercial officer of OKX,&nbs ...

The government of South Korea is reportedly planning to submit a bill that will track and freeze North Korean crypto and virtual assets that are used to fund its capital Pyongyang's illicit weapons program. According to a report by local media outlet JoongAng Daily, multiple anonymous ...

While China’s central bank digital currency (CBDC) goes through technological and business model upgrades, the market should provide an opportunity to include it in all online retail payment options. The statement was made on Sept. 3 by Changchun Mu, the Director of the Digital Currency Research ...

A United States District Court has allowed a nearly three-year-long class action lawsuit against the creators of HelbizCoin to go ahead, as per a court ruling filed on Sept. 1.The class action suit was first brought against Helbiz, its CEO Salvatore Palella, and its partners in 2020, with ...

A wallet owned by bankrupt crypto exchange FTX has moved $10 million worth of digital assets from the Solana (SOL) network to Ethereum, sparking concerns it could be the beginning of a series of token dumps amid the exchange’s bankruptcy proceedings. According to data from block ...

FTX Debtors have disclosed a series of financial statements revealing any transactions that benefited company executives shortly before the major cryptocurrency exchange’s collapse in November 2022.In a recent court filing with the United States Bankruptcy Court for the District of De ...

A group of influential members of parliament (MP) suggests that the UK collaborate with its democratic allies to address artificial intelligence (AI)'s potential misuse, emphasizing London's aim to be a key player in advancing this emerging technology.The Science, Innovation and Technology ...

Lawyers representing Ripple in its lawsuit with the United States Securities and Exchange Commission (SEC) have suggested the regulator hasn’t met the requirements to request an appeal.In a Sept. 1 filing with U.S. District Court for the Southern District of New York, Ripple’s legal team s ...

The Public Service Commission of the state of Kentucky has denied a proposed contract that would have allowed a mining firm to receive a discounted rate on electricity provided by the power company.In an Aug. 28 order, the commission denied a contract between Ebon International and Kentuck ...

Following the United States Securities and Exchange Commission (SEC) delaying decisions on several spot Bitcoin exchange-traded funds, former commission chair Jay Clayton said he believed approval was still going to happen at some point.In an Sept. 1 interview with CNBC, Clayton said major ...

The African continent is considered a significant market for crypto adoption due to its youthful population, flawed economic management by governments, and inadequate financial infrastructure for internal and global connectivity. On Episode 28 of Hashing It Out, host Elisha Owusu Akyaw is ...

The United States Department of Commerce said on Aug. 31 that the Biden administration has “not blocked chip sales to the Middle East,” according to a report from Reuters. This comes after disclosures were revealed in a Nvidia report that the U.S. government had expanded requirements ...

People’s courts in China exercise judicial power independently and are not subject to interference by an administrative or public organization. These courts try criminal, civil, administrative, and cases that involve economic disputes.The report titled "Identification of the Property Attri ...

As the start date of the trial of FTX co-founder Sam Bankman-Fried (SBF) approaches, new court filings indicate that SBF could pay his expert witnesses more than $1000 an hour should they testify on his behalf.SBF may call seven expert witnesses to testify at his fraud trial that is curren ...

The crypto community, digital asset organizations and lawmakers have voiced their backing for the Coinbase vs. United States Securities Exchange Commission lawsuit's dismissal. In a recent update, a fresh attorney, Patrick V. Kennedy, has entered the fray, seeking court approval to represent the ...

In an unexpected turn of events, Bitwise has submitted a request to retract its application for the Bitcoin and Ethereum Market Cap Strategy Ethereum Futures Contracts (ETF), initially filed with the Securities and Exchange Commission (SEC) on Aug. 3.While market sentiment turned bullish f ...

Bitcoin investors may be in for a rollercoaster ride. While history shows September is typically a bumpy month for Bitcoin — two ETF analysts have suggested investors turn their gaze to mid-October as the next "major days to watch."According to historical data, Bitcoin’s monthl ...

Binance Australia General Manager Ben Rose says he’s “really confident” that Australian regulators will eventually make the right choices when it comes to laws that govern digital assets in the country. “There are lots of very smart people in the government wor ...

Cryptoasset businesses in the United Kingdom could now begin withholding certain crypto transfers to comply with the new Travel Rule for crypto that came into effect on Sept. 1.The rules targeting virtual asset service providers were first introduced by the Financial Conduct Authority ...

The United States Securities and Exchange Commission (SEC) has postponed its decision on WisdomTree’s Bitcoin Trust first filed on Dec. 8 2021. The institutional giant refiled its ETF application on July 19, 2023 with the first deadline approaching.WisdomTree’s Bitcoin ETF proposal didn’t ...

Florida Gov. Ron DeSantis cancelled a campaign event in which he was reportedly planning to announce the acceptance of cryptocurrency contributions toward his 2024 presidential run. According to an Aug. 29 report from the Miami Herald, DeSantis cancelled a cocktail-hour fundraiser for ...

Regulators in the United States have asked Nvidia to curb exports of artificial intelligence (AI) chips to “some Middle East countries,” according to its latest quarterly report. The report was released on Aug. 28, in which the company said the new regulations affect its A100 and H100 ...

Cryptocurrency exchanges in Australia have been increasingly communicating with their users as part of preventative measures for scams. According to local crypto firms, such communication is the key to preventing scams as it is able to “break trust” between victims and scammers.Executives ...

Four China-based tech companies launched their own artificial intelligence (AI) chatbots on Aug. 30 for public use after receiving approval from the Chinese government. Baidu, Baichuan Intelligent Technology, SenseTime and Zhipu AI all launched their chatbots less than two weeks after ...

There are hopes that the United States could see a new crypto resurgence after several rulings this year have seen court judges “rein in the SEC,” according to a digital asset lawyer from K&L Gates.On Aug. 31, Jeremy McLaughlin, a partner at the global law firm, noted that multiple U.S ...

United States presidential candidate Vivek Ramaswamy has lauded Grayscale’s recent victory over the federal securities regulator, arguing the decision will help keep Bitcoin and blockchain innovation from going overseas. In an Aug. 30 post on X (formerly Twitter) the pro-Bitcoin Repu ...

Bloomberg analysts have raised the probability for an approved spot Bitcoin exchange-traded fund (ETF) by the end of 2023, following a recent Grayscale victory against the federal securities regulator. In a Aug. 30 post on X (Twitter), Bloomberg senior ETF analyst Eric Balchunas said they ...

While United States regulators such as Securities and Exchange Commission Chair Gary Gensler make bad-faith claims that “there’s been clarity for years” when it comes to cryptocurrency, the European Union took real action in April when it passed the Markets in Crypto-Assets (MiCA) regulatory fram ...

Lawyers representing former FTX CEO Sam Bankman-Fried, or SBF, have reportedly not asked for a different trial date in order to prepare, but a federal judge has offered a limited window to do so.According to an Aug. 30 X thread from Inner City Press, Judge Lewis Kaplan said the deadli ...

The United States District Court of Southern New York has dismissed a class-action suit against Uniswap Labs, its CEO, foundation and venture capital backers brought by plaintiffs who claimed they lost money due to scam tokens on the decentralized cryptocurrency exchange. Judge Katherine Polk Fai ...

The United States Copyright Office issued an official request for comments and notice of inquiry on copyright and artificial intelligence (AI) in the Federal Register on Aug. 30. The Copyright Office issued a notice of inquiry in t ...

The Web3 landscape is undergoing swift evolution, with omnichain solutions emerging as vanguards poised to redefine the crypto world. Just recently, Cointelegraph hosted an AMA session to discuss the potential of omnichain solutions and their impact on crypto mass adoption.This enga ...

The lenders of the bankrupt cryptocurrency lender Genesis are not satisfied with the latest in-principle settlement agreement with other parties including the Digital Currency Group (DCG).The Ad Hoc Group of Genesis Global Capital (GGC) lenders — represented by lawyers Brian Rosen and Jord ...

The lawyers representing the United States Department of Justice (DOJ) filed a new court document late on Aug. 29 arguing that Sam Bankman-Fried should provide additional disclosures to his planned defense. The document called the current proposed argument, which claims his lawyers ap ...

On the latest episode of The Market Report, Cointelegraph analyst Marcel Pechman delves into Grayscale’s victory against the United States Securities and Exchange Commission. Even though there’s still no decision regarding the firm’s application for a spot Bitcoin (BTC) exchange-traded fund, ...

Defunct crypto lending firm BlockFi applied to the court a request to transfer the trade-only assets from its users' accounts into stablecoins, so they could be withdrawn by the individuals. The request marks another step toward the return of users' funds, a process that the company began in Augu ...

South Korea’s parliamentary ethics subcommittee has voted down a motion to expel Kim Nam-kuk, a former member of the main opposition Democratic Party.A parliamentary ethics subcommittee of South Korea has voted down a motion to expel Kim Nam-kuk, a former member of the main opposition Demo ...

Stronghold Digital Mining, a Pennsylvanian crypto-mining company, is currently seeking approval to produce up to 15% of its energy using shredded tires, at its Panther Creek plant in Nesquehoning. Local environmental activists are preparing to oppose the initiative.  ...

Hong Kong retail cryptocurrency traders now have access to a locally based cryptocurrency exchange after HashKey took its retail trading services live to users in China’s special administrative region on Aug. 28.The company was previously permitted to serve professional and insti ...

The EOS token has been granted whitelist approval by Japan’s crypto regulator, paving the way for the token to be traded against the Japanese yen on regulated exchanges in the country. In an announcement sent to Cointelegraph, the EOS Network Foundation (ENF), which current ...

A British parliamentary committee is pressuring the government to axe plans that would allow artificial intelligence developers to freely train their systems on existing works of music, literature and art. In an Aug. 30 report, the Culture, Media and Sport Committee warned the governm ...

The United States Securities and Exchange Commission is facing its first deadlines to decide on seven new Bitcoin (BTC) spot exchange-traded fund applications with the latest being Sept. 4 amid its defeat to Grayscale Investments in a U.S. federal appeals court.Investment firm Bitwise will ...

Tether, the stablecoin issuer behind USDT, has reportedly added Britannia Bank & Trust, a private bank based in The Bahamas to process dollar transfers on its platform.It is understood Tether has instructed clients to send money to Britannia’s bank account over the last few months, acc ...

The crypto community received the decision it had been hoping for when the District of Columbia Circuit Court of Appeals ruled on Grayscale Investments’ Bitcoin spot ETF application. The United States Securities and Exchange Commission (SEC) rejection of the application was overturned. ...

Miami Mayor Francis Suarez, one of the few cryptocurrency-friendly candidates running for president of the United States in 2024, has announced he will be suspending his campaign.In an Aug. 29 announcement on X (formerly Twitter), Suarez said that while running for U.S. president had been ...

A federal judge has overturned the United States Securities and Exchange Commission’s decision to deny an exchange-traded fund (ETF) offering from Grayscale Investments through its Bitcoin (BTC) Trust, but many experts have pointed out the court ruling will not automatically lead to the fir ...

"I'm pretty disappointed with the way Ethereum has gone since its launch," said Vinay Gupta, founder of Mattereum and former coordinator of Ethereum's initial release, during Cointelegraph's AMA session. "The idea was that we could use blockchain to govern infrastructure in the real world. ...

The legal team representing the United States Securities and Exchange Commission (SEC) in its civil case against Binance is requesting the court grant a motion to allow documents filed under seal.In an Aug. 28 filing in U.S. District Court for the District of Columbia, the SEC petitioned a ...

CoinSwitch crypto exchange is the latest crypto trading platform in India that cut its workforce amid the prolonged cryptocurrency winter, the local news agency Moneycontrol reported on Aug. 28.The Indian crypto exchange has reportedly laid off 44 employees from its customer support divisi ...

The world's largest crypto exchange Binance has removed Banco de Venezuela as a payment method on its peer-to-peer (P2P) trading service. This follows similar moves with sanctioned Russian banks last week, and is likely part of efforts to fall in line with international financial sanctions. ...

Several prominent crypto commentators have criticized the new crypto tax reporting rules recently put forth by United States president Joe Biden. On Aug. 25, in an effort to catch crypto users avoiding taxes, the Internal Revenue Services (IRS) proposed brokers follow new rules for selling and tr ...

Judge Martin Glenn shot down efforts to have a special shareholders class declared in the Celsius Network bankruptcy case in a court document filed on Aug. 25. The judge also declined to settle whether or not the CEL token was a security. In a motion filed on July 25 and heard before the U ...

Vauld, a Singapore-based crypto exchange, that has been ongoing bankruptcy proceedings since August 2022, has said that it received permission from the court to restructure its board. The new top management will lead the company’s bailout process. On Aug. 24, Vauld’s co-founder Darshan Bathija ...

What is Base? Unpacking Coinbase’s new layer-2 network and its impact Base, Coinbase’s new layer-2 blockchain network, was built to enhance Ethereum’s capacity for decentralized applications, improve user interfaces, and r ...

As the United Kingdom prepares for a ban on finance-related cold calls, the UK Treasury issued a consultation and call for evidence to gauge a full picture of the impact on businesses, or the costs associated with introducing and implementing the ban. On May 3, the UK government announced an ambi ...

Two months after becoming a crypto-only platform, Binance.US has announced a new partnership with crypto payments firm MoonPay to allow users to buy the U.S. dollar-pegged stablecoin Tether (USDT) to use on its platform. The crypto exchange announced on Aug. 22 that USDT was being adopted as the ...

Bankrupt cryptocurrency lender BlockFi is trying to block attempts by the similarly bankrupt FTX and Three Arrows Capital (3AC) that aim to retrieve hundreds of millions of dollars to pay back their creditors. BlockFi claimed in an Aug. 21 filing to a New Jersey bankruptcy court that its own cred ...

FTX founder Sam Bankman-Fried has seemingly been doing it tough behind bars, eating only bread with peanut butter to accommodate his vegan diet, while exhausting his supply of prescription medication. In the same hearing where Bankman-Fried pleaded not guilty to seven fraud-related charges, B ...

A federal judge has sentenced former OpenSea product manager Nathaniel Chastain to three months in prison for wire fraud and money laundering related to insider trading on the platform. In an Aug. 22 announcement from the United States Department of Justice, U.S. Attorney Damian Williams said ...

The South Korean city of Cheongju, the capital of North Chungcheong province, has said it intends to begin confiscating cryptocurrency from local tax delinquents. The administration of Cheongju has requested seven South Korean crypto exchanges to inquire into holdings of thousands of tax evaders, ...

Cryptocurrency exchange Coinbase has received approval from the United States National Futures Association to offer investments in crypto futures to eligible customers. The approval enables Coinbase to introduce Bitcoin (BTC) and Ether (ETH) futures contracts through its Commodity Futures Trading ...

Cryptocurrency advocacy group Coin Center has provided suggestions for United States lawmakers to consider in potential legislation related to taxation of digital assets. In an Aug. 21 letter to Senators Ron Wyden and Mike Crapo, Coin Center pointed to the Virtual Currency Tax Fairness Act — a bi ...

It is a virtual construct with many characters. The platform allows developers to create their own worlds. The characters of AI Town mimic live communication and interact with each other. This allows the formation of complex and multifaceted social sys ...

Singapore's central bank has released a revised regulatory framework aimed at ensuring stability for single-currency stablecoins (SCS) regulated in the city-state.The Monetary Authority of Singapore announced the framework on Aug. 15 which is aimed at non-bank issued stablecoins pegged to ...

Former FTX executive Ryan Salame will reportedly avoid testifying about his role in FTX’s alleged illegal campaign donation scheme if he is subpoenaed in Sam Bankman-Fried’s criminal trial.Lawyers representing the former FTX co-CEO said that Salame will be unavailable as a witn ...

Binance has asked a court for a protective order against the United States Securities and Exchange Commission, accusing the regulator of undertaking a “fishing expedition” with its discovery requests.In an Aug. 14 court filing, Binance argued while it’s worked in good fai ...

Crypto-assets and their related activities present key risks to the United States banking system and warrant closer supervision, warns a leading U.S. financial regulator. For the first time, cryptocurrency was given a dedicated section in the Federal Deposit Insurance Corporation’s a ...

An Argentinian politician with a knack for supporting Bitcoin and calling for the abolishment of his country’s central bank has taken the lead in the country’s presidential primary elections. With over 90% of the votes counted, libertarian pro-Bitcoin (BTC) candidate Javier Mil ...

The United States’ securities regulator could completely u-turn its approach to crypto enforcement, depending on a key election in the United States in 2024, according to former SEC official John Reed Stark.In an Aug. 13 tweet, the former SEC Office of Internet Enforcement chief pred ...

A group of six legal scholars specializing in securities law and related fields submitted an amicus brief in favor of crypto exchange Coinbase in its ongoing legal battle against the United States Securities and Exchange Commission (SEC).An amicus brief is a document filed in court by ...

Grayscale Investments CEO, Michael Sonnenshein, highlighted a potential negative outcome for the United States economy if the Securities and Exchange Commission (SEC) continues to take a one-by-one approach to regulating the cryptocurrency industry.During a recent interview with Fox Busine ...

Brazilian lawmakers are moving forward with a legislation that would raise taxes on cryptocurrencies held overseas. According to local reports, a congressional committee has approved amendments to a bill that recognizes cryptocurrencies as "financial assets" for tax purposes in foreign investment ...

Legal proceedings have been initiated by the Commodity Futures Trading Commission (CFTC) against individuals and their organization, Fundsz, citing their involvement in a deceptive scheme concerning cryptocurrencies and precious metals trading.Rene Larralde from Melbourne, Florida, Juan Pa ...

Crypto-friendly Senator Cynthia Lummis has filed an Amicus Brief supporting Coinbase’s motion to dismiss the U.S. Securities and Exchange Commission's lawsuit against the firm. An Amicus Brief is a document filed in court by a party that is not directly involved with the related case ...

A judge in the bankruptcy case of defunct crypto hedge fund Three Arrows Capital (3AC) has denied a motion that would have held co-founder Kyle Davies in contempt of court and imposed sanctions.In an Aug. 11 filing with the United States Bankruptcy Court for the Southern District of New Yo ...

A federal judge has reportedly revoked former FTX CEO Sam Bankman-Fried’s bail following the release of information to New York Times reporters in an alleged attempt to intimidate witnesses.According to reports of individuals present at an Aug. 11 hearing in the United States Distric ...

The Securities and Exchange Commission's (SEC) delay in deciding whether to approve a spot Bitcoin (BTC) exchange-traded fund (ETF) in the United States is fueling expectations that a final verdict will come in a batch that includes key players on Wall Street, including BlackRock and Fidelity.&nb ...

The United States Securities and Exchange Commission has delayed a decision on approving or disapproving the spot Bitcoin (BTC) exchange-traded fund (ETF) proposed by ARK Investment Management.In an Aug. 11 notice, the SEC opened a 21-day comment period for the ARK 21Shares Bitcoin ETF to ...

Hong Kong’s Securities and Futures Commission (SFC) has issued an in-principle approval to Hong Kong Virtual Asset Exchange (HKVAX) to operate a virtual asset trading platform under the region’s securities laws. On Aug. 11, HKVAX announced that it had received an “approval-in-principl ...

Authorities in Argentina have become the latest government officials to probe cryptocurrency project Worldcoin over privacy concerns.In an Aug. 8 announcement, Argentina’s Agency for Access to Public Information (AAIP) said it was investigating Worldcoin over its collection, storage ...

The United States Securities and Exchange Commission has announced an agreement with crypto trading platform Bittrex and co-founder and former CEO William Shihara for operating an unregistered exchange.In an Aug. 10 notice, the SEC said Bittrex and Bittrex Global agreed to pay $14.4 millio ...

The United States Securities and Exchange Commission is moving to appeal a July court decision from its lawsuit against Ripple Labs, which had ruled the sale of XRP (XRP) is not a security when sold to retail investors.In an Aug. 9 letter to Judge Analisa Torres — the presiding ...

The judge overseeing the civil case of the United States Securities and Exchange Commission (SEC) against Ripple Labs plans to schedule a jury trial starting in the second quarter of 2024.In an Aug. 9 filing in the U.S. District Court for the Southern District of New York, Judge Analisa To ...

The United States Patent and Trademark Office (USPTO) has accepted CBS Studios’ application for the Star Trek name to be used in nonfungible tokens (NFTs) and crypto collectibles connected to its Continuum series.According to USPTO records, the government office registered the charac ...

FTX’s former primary counsel Fenwick & West LLP has been hit with a class-action suit claiming it aided the crypto exchange’s alleged multi-billion dollar fraud.An Aug. 7 filing by a group of FTX customers in a California District Court alleged the law firm set up several “shadowy enti ...

The United States Federal Reserve is broadening the scope of its supervision program which oversees U.S. banks that engage with the cryptocurrency and blockchain industry. An Aug. 8 announcement by the Federal Reserve Board established the Novel Activities Supervision Program, which aims t ...

Ryan Salame, the former co-CEO of FTX Digital Markets, is reportedly discussing a guilty plea with authorities in the United States.According to an Aug. 8 Bloomberg report, lawyers for Salame could enter a guilty plea as early as September, in advance of former FTX CEO Sam Bankman-Fried&rs ...

Crypto exchange Blockchain.com has been granted a payments license from Singapore’s central bank, the Monetary Authority of Singapore (MAS).Blockchain.com announced on Aug. 7 it received its major payment institution (MPI) license from MAS on Aug. 1, allowing the platform to pro ...

The lower house of India’s parliament voted in approval of a bill that would ease data compliance regulations for Big Tech companies on Aug. 7, according to a report from Bloomberg. The Digital Personal Data Protection Bill 2023 would ease storage, processing and transfer standards fo ...

CoinGecko launched a new index tracking the biggest crypto tokens viewed as likely securities by the United States Securities and Exchange Commission. The "Top Alleged Securities Coins" page sorts the selection of crypto assets by market capitalization, placing BNB (BNB) at the top of ...

The Chamber of Digital Commerce (CDC), an American advocacy organization, on August 1, unveiled a comprehensive "impact and analysis" report on the SEC's lawsuit against Ripple. The report scrutinizes the case's verdict, highlighting its profound implications for the crypto industry's future. ...

United States-based cryptocurrency exchange Coinbase has filed a motion to dismiss a lawsuit brought by the Securities and Exchange Commission in June.In an Aug. 4 filing with the U.S. District Court for the Southern District of New York, lawyers for Coinbase filed a motion for judgment, c ...

The United States Securities and Exchange Commission has obtained a temporary asset freeze against Utah-based crypto company Digital Licensing Inc., accusing the firm of perpetrating a $50 million fraudulent crypto scheme.On Aug. 3, the SEC announced it had obtained a temporary asset freez ...

On the latest episode of Market Talks, host Ray Salmond spoke with Blockware Solutions account executive David Gamble about the future of Bitcoin (BTC) mining, expectations for the cryptocurrency’s price, and his views on how the decentralized finance (DeFi) sector needs to evolve. Ga ...

One-half of the couple alleged to have laundered billions of dollars worth of cryptocurrency has reportedly admitted he was behind the 2016 Bitfinex hack.According to an Aug. 3 CNBC report, Ilya Lichtenstein told a U.S. court he was the individual behind an exploit of cryptocurrency exchan ...

The New York Times has submitted a filing in the criminal case against former FTX CEO Sam “SBF” Bankman-Fried, arguing the court should defend First Amendment rights by allowing certain parties to provide information to members of the media.In an Aug. 2 letter to Judge Lewis Kaplan of the ...

A number of United States’ lawmakers have urged the Internal Revenue Service (IRS) and the Treasury to speed up the closure of tax loopholes being exploited by “crypto tax evaders.”In an Aug. 1 letter, Democratic Senators Elizabeth Warren, Bernie Sanders, Bob Casey and Richard Blumenthal w ...

The United States Department of Justice is reportedly considering charging cryptocurrency exchange Binance with fraud, but hesitating based on costs to consumers.According to an Aug. 2 Semafor report citing people familiar with the matter, Justice Department officials are concerned about a ...

According to data provided by the Ukrainian government, cryptocurrency exchanges offering services in the country have failed to contribute more than $81 million to the national budget in the last decade.In an Aug. 2 notice, the Economic Security Bureau of Ukraine reported unrelated crypto ...

Lawyers for Sam Bankman-Fried have denied that he attempted to intimidate witnesses in his criminal trial by talking to New York Times reporters and argued there is no reason to jail him.In an Aug. 1 letter to Judge Lewis Kaplan, Bankman-Fried’s lawyers claimed the prosecution’s attempt to ...

A body representing FTX customers said it is “extremely disappointed” by the exchange’s draft bankruptcy exit plan and claims it was ignored by FTX’s restructuring team.In a July 31 court filing, FTX’s Official Committee of Unsecured Creditors (UCC) said despi ...

Kyle Davies, the co-founder of bankrupt crypto hedge fund Three Arrows Capital (3AC), has submitted documentation to court claiming he is fully a citizen of Singapore and not the United States.In an Aug. 1 filing with the U.S. Bankruptcy Court for the Southern District of New York, Davies ...

A judge in the bankruptcy case for defunct crypto exchange FTX has issued an order allowing Terraform Labs to subpoena information that could be used in its case brought by the United States Securities and Exchange Commission.In a July 31 filing in the U.S. Bankruptcy Court for the Distric ...

Circle’s USD Coin (USDC) and other stablecoins could potentially face a compliance nightmare if a new national defense bill that passed in the United States Senate makes it all the way.In a July 31 investment note seen by Cointelegraph, Berenberg analyst Mark Palmer explained that a recent ...

United States crypto investors must report crypto staking rewards as gross income in the year it was received, according to a new ruling from the country’s top tax authority.On July 31, the Internal Revenue Service (IRS) issued Revenue Ruling 2023-14, giving clarification about ...

Binance CEO Changpeng “CZ” Zhao is looking to bring smaller algorithmic stablecoins to the market, in a bid to offer investors options other than the current global stablecoin giants.Speaking in a July 31, ask me anything (AMA) session on Twitter, CZ cited risks associated with ...

A United States Securities and Exchange Commission lawsuit against Terraform Labs is set to go ahead after a U.S. judge overseeing the case denied the firm’s motion to dismiss on July 31.  In handing down the order, the judge also rejected a July 13 decision from U.S. District ...

Florida Gov. Ron DeSantis has pushed a platform based partly on “economic independence” in his 2024 presidential campaign, specifically taking a stance on digital currencies. Speaking at a campaign event in New Hampshire on July 31, DeSantis reiterated his plans of banning central ban ...

Advocates of the crypto industry in Japan are demanding a revision of the national tax regime for digital assets. The Japan Blockchain Association (JBA), a non-governmental lobbying group, filed an official request to the country’s government, highlighting three major steps to ease the fiscal bur ...

The United States Securities and Exchange Commission has filed a lawsuit against Richard Schueler, better known in the crypto space as Richard Heart, for alleged unregistered offerings of three tokens. In a July 31 filing in U.S. District Court for the Eastern District of New York, th ...

The Chinese city of Shanghai issued an implementation plan on July 31 to promote the development of its urban blockchain digital infrastructure system in the time frame of 2023–2025.The announcement says the plan was formulated to serve the “strategic goal” of Shanghai’s urban digital tran ...

Australia’s Bendigo Bank has become the fourth major bank in the country to announce blocks for “high-risk crypto payments,” citing the need to protect customers from investment scams.The bank said on July 31 it implemented new rules on instant payments to crypto exchanges which adds “some ...

Pro-XRP lawyer, John Deaton, has said that the actions taken by the United States Securities and Exchange Commission (SEC) against the crypto industry are driven by a broader motive to safeguard corporate capitalism rather than prioritizing the protection of investors.Deaton highlighted wh ...

According to a July 28 court filing, the United States Department of Justice (DOJ) is seeking the revocation of Sam Bankman-Fried’s (SBF) bail, accusing him of attempting to tamper with witnesses and leaking Caroline Ellison’s diary to The New York Times.The DOJ notes that SBF was released ...

The U.S. Securities and Exchange Commission (SEC) suffered another setback on July 28 as the D.C. Circuit overturned a ruling by the regulator ordering that SPIKES Index securities should be treated as 'futures' rather than as 'securities futures'. The judge panel called the SEC order "arbitrary ...

An open letter from GitHub, Hugging Face, Creative Commons and other tech firms are calling the European Union to ease upcoming rules for open-source artificial intelligence models.The letter urges policymakers to review some of the provisions of the EU's Artificial Intelligence Act, claim ...

United States Representatives Gus Bilirakis and Jan Schakowsky penned a formal letter to Apple CEO Tim Cook about concerns related to the California-based company’s App Store, and the potential effect of its guidelines on emerging technologies like blockchain and nonfungible tokens (NFTs). ...

The United States banking advocacy group, the Bank Policy Institute (BPI), has backed the legislation of vocal crypto critic Senator Elizabeth Warren, calling for digital assets to fall under its own set of Anti-Money Laundering (AML) laws.According to a July 28 Bloomberg report, Warr ...

The United States Securities and Exchange Commission (SEC) and Binance have submitted responses regarding the entity “Eeon,” which has sought to intervene on behalf of customers in the SEC’s case against the crypto exchange.According to the U.S. District Court for the District of Columbia, ...

Hester Pierce, commissioner of the United States Securities and Exchange (SEC), has raised concerns about the watchdog's recent statement advising accounting firms against taking on non-audit work for crypto firms.In a July 28 tweet, Pierce challenged the recent statement made by the ...

Proof of humanity protocol Worldcoin released its audit reports on July 28 as criticism of its data collection practices continues to mount. The new reports were conducted by security consulting firms Nethermind and Least Authority. According to an accompanying announcement from World ...

The German Federal Financial Supervisory Authority, or BaFin, reportedly advised crypto exchange Binance to withdraw its licensing application based on concerns with CEO Changpeng Zhao and the firm’s structuring.According to a July 28 report from The Wall Street Journal, BaFin advise ...

Lawyers representing former FTX CEO Sam Bankman-Fried, also known as ‘“SBF,” have requested the court seal documents related to his interviews with a New York Times reporter revealing details about his relationship with Caroline Ellison.In a July 27 filing in the United States District Cou ...

The French National Commission on Informatics and Liberty (CNIL), France’s data protection agency, is questioning the legality of Worldcoin's data collection methods, according to a Reuters report. In an email to Reuters on July 28, CNIL said: ...

The Indian Supreme Court on July 27 reprimanded the Union government for the lack of crypto regulations in the country, according to a report in a local media outlet. The Supreme Court in its observation noted that it is “unfortunate” that the government has yet to release any clear g ...

The United States Senate passed the 2024 National Defense Authorization Act (NDAA) worth $886 billion on July 27. The bill includes a provision targeting crypto mixers, anonymity-enhancing coins and institutions engaging in crypto trading.The NDAA is a bill that helps authorize how the cou ...

Bankrupt crypto exchange FTX and crypto lender Genesis have reached an agreement in principle to resolve the claims brought by FTX in its bankruptcy case.On July 27, legal counsels for both firms sent a letter to bankruptcy Judge Sean Lane stating that they had agreed to a settlement. ...

Public companies in the United States, including listed crypto firms, will be required to disclose any major cybersecurity incidents within a four-day time limit, under new rules adopted by the United States securities regulator.The rules from the United States Securities and Exc ...

The House Financial Services Committee has advanced another two landmark crypto bills previously under consideration —  with one aiming to better regulate stablecoin issuers and another seen as positive for crypto self-custody in the United States. On July 28 the Committee said ...

Crypto fund manager Grayscale is urging the Securities and Exchange Commission to approve all proposed spot Bitcoin (BTC) exchange-traded funds (ETFs) at the same time to avoid one having an advantage.A July 27 post by Grayscale Chief Legal Officer Craig Salm said its legal team submitted ...

Tact was pervasive in the United States House of Representatives Agricultural Committee’s consideration of the Financial Innovation and Technology for the 21st Century Act on July 27. With many references to bipartisanship and self-congratulatory mentions of the members’ cooperation a ...

Stablecoins cannot be compared to bank deposits in terms of risk, argues a new policy paper authored by former Federal Reserve Board analyst Brendan Malone on behalf of technology investment firm Paradigm. The document explores the risks stablecoins pose to the financial sys ...

United States House Financial Services Committee Chair Patrick McHenry has pointed a finger at the Biden administration for the lack of bipartisan agreement on a stablecoin bill.In a July 27 hearing, Representative McHenry said the version of the Clarity for Payment Stablecoins Act, H.R. 4 ...

The latest legal action against Block.one (B1), the creator and original seller of EOS (EOS), could potentially help plaintiffs get higher compensation, according to EOS Network Foundation (ENF) founder and CEO Yves La Rose.On July 25, La Rose officially announced that ENF is preparing a l ...

As regulatory scrutiny continues to circle the wider Web3 ecosystem, cryptocurrency lending platform Nexo will look to leverage training resources, connections and data by joining the Association of Certified Sanctions Specialists (ACSS).The association offers training and certification fo ...

Cryptocurrency payments platform CoinsPaid has pointed the finger at North Korean state-backed Lazarus Group as being behind the hacking of its internal systems, which allowed them to steal $37.3 million on July 22.“We suspect Lazarus Group, one of the most powerful hacker organisati ...

A key United States House panel has approved a pair of bills that could finally deliver some regulatory clarity to crypto firms — including clarifying the differences in jurisdiction between the U.S. securities and commodities regulators.On July 26, the majority of U.S. lawmakers vot ...

A federal judge overseeing the criminal case against Sam Bankman-Fried, also known as "SBF," will reportedly consider revoking the former FTX CEO’s $250 million bail based on allegations of intimidation against Caroline Ellison. In a July 26 hearing in United States District Cou ...

Canada’s financial watchdog is proposing changes to its capital and liquidity approach to crypto assets, according to an announcement on July 26. According to the Office of the Superintendent of Financial Institutions (OSFI), the proposed rules will simplify institutions’ approach to ...

Members of the United States House Financial Services Committee seem to be divided on the best legislative path forward dealing with regulatory clarity for crypto and blockchain technology.In a July 26 markup hearing, the committee had several bills on its agenda, including the Financial I ...

The EOS Network Foundation (ENF) is the latest entity to initiate legal action against major investor Block.one (B1) over its alleged failure to honor $1 billion in investment commitments.On July 25, ESF founder and CEO Yves La Rose took to Twitter to announce that the foundation is prepar ...

Blockchain security firm Quantamp is set to return $28 million raised in a 2017 initial coin offering (ICO) following charges brought by the United States Securities and Exchange Commission.The U.S. agency announced that it had formally charged the California-based firm on July 21 for cond ...

An Australian court has reportedly ordered Meta Platforms, the owner of Facebook, to pay fines amounting to 20 million Australian dollars ($14 million) for collecting user data through a smartphone application, Onavo. According to a Reuters report, Australia’s Federal Court has ordere ...

A Tennessee husband and wife are facing charges over “Blessings of God Thru Crypto” — an allegedly fraudulent investment scheme that swindled at least $6 million from over 100 victims in just six months.A July 24 complaint from the Commodity Futures Trading Commission (CF ...

The Namibian Government officially signed a law to regulate Virtual Asset Service Providers operating in the country last week, reversing its original 2017 decision to ban cryptocurrency exchanges.On July 21, the VASP-regulating law was inserted into the Gazette of the Republic of Namibia ...

The government of Palau is set to begin a pilot project for a United States dollar-backed stablecoin on July 26. The new coin will be issued on XRP Ledger.The country will release the first Palau Stablecoins (PSCs) in the pilot project to government employees. This comes after several days ...

Josh Gerben, a trademark attorney with Gerben Intellectual Property, has suggested the company formerly known as Twitter could spend upward of $100 million in dealing with litigation as a result of the X rebranding.In a July 25 X thread, Gerben predicted that lawsuits against X related to ...

The Abu Dhabi Global Market (ADGM) Financial Services Regulatory Authority has granted its financial services permission for cryptocurrency firm Rain to offer brokerage and custody services to residents. In a July 25 announcement, Rain said the regulatory approval will allow certain U ...

Since 2022, there have been at least 50 digital asset bills reportedly introduced to Congress, aiming to govern everything from stablecoins to the jurisdictions of United States regulators.However, at least four of them are seen as potentially having a major impact on the industry (if pass ...

Crypto exchange Binance and its CEO, Changpeng “CZ” Zhao, are planning to file a motion asking a court to dismiss a lawsuit from the United States commodities regulator.In a July 24 filing to an Illinois District Court, multiple Binance entities, Zhao and former Chief Compliance Officer Sa ...

Last week was marked by two new legislative initiatives for the crypto industry in the United States. Senator Jack Reed sponsored a bipartisan bill that would tighten Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations and sanctions requirements for decentralized finance (DeFi). ...

Coinbase CEO Brian Armstrong has reportedly said United States lawmakers have a renewed focus on regulatory clarity in the crypto space following talks with key officials.According to a July 24 Axios report, Armstrong met with U.S. lawmakers on July 20 ahead of discussions and votes on pie ...

Celsius was one of the top lenders in the crypto ecosystem during the bull market in 2021. At its peak, it served 1.7 million customers and managed $25 billion in assets.All that came crashing down in June 2022 amid major flaws in the company’s working structure.The bear marke ...

Russia is moving forward with its central bank digital currency (CBDC) as President Vladimir Putin signed the digital ruble bill into law on July 24, according to an official government document.With this approval, the digital ruble law is officially scheduled to take effect from Aug. ...

Former FTX CEO Sam Bankman-Fried has agreed to a gag order preventing him from making comments to third parties that may interfere with his trial — but argues other potential witnesses should be gagged as well, including current FTX CEO John Ray.The gag order against Sam Bankman-Fried was ...

United States Republican Representative Warren Davidson has spoken out against central bank digital currencies, urging Congress to ban them and criminalize their development.In a July 23 Twitter post, Congressman Davidson accused the Federal Reserve of “building the financial equival ...

Ripple CEO Brad Garlinghouse has condemned the United States securities regulator over recent comments from its lawyers that hint at a possible appeal to its case against Ripple.In a July 23 tweet, Garlinghouse slammed the regulator for its "regulation by enforcement" approach, arguing it ...