Tagged: Crypto Regulations

Belgium: FSMA Orders Binance to Cease Immediately All Offers of Digital Currency Services

The FSMA has noted that Binance is offering and providing exchange services in Belgium between virtual currencies and legal currencies, as well as custody wallet services, from countries that are “not members of the European Economic Area.” The FSMA has therefore ordered Binance “to cease,… Read More

Valerii Brizhatiuk: Co-founder at Swisstronik Says Hong Kong’s Crypto Regulations Exemplify a Competent, Far-Sighted Approach to the Industry

We recently caught up with Valerii Brizhatiuk, Chief Product Officer, Co-Founder at Swisstronik, a layer-1 solution designed to build scalable decentralized applications that ensure users’ data protection and privacy, while remaining in compliance with local regulations. According to the project team, Swisstronik is unique because… Read More

Digital Assets: Bakkt Delists Solana (SOL), Polygon (MATIC), Cardano (ADA) Due to Lack of Regulatory Clarity in the US

Only a couple months after finalizing a $155M acquisition of Apex Crypto, an established trading infrastructure provider, the New York–headquartered crypto-assets platform Bakkt Holdings, Inc. (NYSE: BKKT) is delisting three major digital currencies: Solana (SOL), Polygon (MATIC), and Cardano (ADA). Marc D’Annunzio, Bakkt General Counsel… Read More

DFINITY Responds to US SEC’s Complaint Against Coinbase

Like many in the blockchain and web3 ecosystem, DFINITY says they have been watching recent regulatory developments in the United States with some alarm. As noted in a blog post, the SEC in particular, has been “taking wide-ranging actions across the industry.” DFINITY says they… Read More

IOG Responds to Recent SEC Filings: Under “No Circumstances” Is Cardano (ADA) A Security

Last week, IOG (which stands for Input Output Global – one of the organizations supporting Cardano (ADA) development) noted that they are aware of the recent complaints by the US Securities and Exchange Commission (SEC) against Binance & Coinbase, which “contain references to the organization, the… Read More

Binance Nigeria Ltd Is Neither Registered, Nor Regulated by the Securities and Exchange Commission in Nigeria, Regulator Warns

The attention of the Securities and Exchange Commission (the Commission) in Nigeria has been drawn to the website operated by Binance Nigeria Limited, “soliciting the Nigerian public to trade crypto assets on its various web and mobile-enabled platforms.” Binance Nigeria Limited is “neither registered nor… Read More

WEF: Crypto Industry Report Identifies Barriers, Potential Solutions in Global Digital Asset Regulation

From fragmented monitoring and enforcement to differing classifications of crypto assets, many barriers hinder global coordination on crypto-asset regulation efforts. A new study from the World Economic Forum identifies “the importance of a global approach to crypto-asset regulations and provides potential solutions to these barriers.”… Read More

Crypto Ban: Pakistan Is Reportedly Drafting Legislation to Prohibit Cryptocurrency Transactions

Pakistan will reportedly attempt to ban cryptocurrency-related transactions and services. This is not anything new because the country has made similar announcements as far back as 2018 and even earlier. Pakistan‘s Minister of State for Finance and Revenue Aisha Ghaus Pasha recently stated that the… Read More

European Union: Council Adopts Crypto Framework or Markets in Crypto-Assets (MiCA)

The European Union (EU) brings crypto-assets, crypto-assets issuers, and crypto-asset service providers under a regulatory framework. Last month after several delays, the European Parliament adopted MiCA or Markets in Crypto-Assets regulation. This legislative development aims to allow all EU member states to provide digital asset… Read More

Digital Assets: CryptoUK Responds to HM Treasury Crypto-Assets Consultation Paper

CryptoUK, which claims to be the “trusted” voice of the UK crypto industry, has published a detailed response to His Majesty’s Treasury’s (HMT) Future Financial Services Regulatory Regime for Cryptoassets consultation paper. Consultation proposals “included strengthening rules for crypto trading platforms and a robust world-first… Read More

MiCA: New EU Crypto Legislation Could Drive Virtual Currency Prices, According to Financial Industry Executive

The EU Parliament’s passing of the Markets in Crypto Act, or MiCA, on Thursday has been hailed as a “landmark moment” for cryptocurrencies that will “help drive prices” for the likes of Bitcoin. This, according to the CEO of an independent financial advisory, asset management and… Read More

Bahrain: Central Bank Issues Regulatory Framework for Digital Tokens, Supporting Crypto-Assets Market

The Central Bank of Bahrain has issued amendments to its Crypto-assets (“CRA”) Module in March 2023, “following a consultation process with the industry stakeholders.” The amendments aim “to cater to the ongoing developments in the crypto-assets markets and comply with the industry best practices while… Read More

European Union Smart Contract Regulatory Guidelines Released in Council’s Data Act Draft

Smart contracts will reportedly have to include a “kill switch” under an update of the European Union’s (EU) Data Act which was recently released by the bloc’s member states on Monday (March 27, 2023). The European Union’s Council, which is focused on representing national governments,… Read More

Coinbase Says UK Is Well-Positioned to Become Global Center for Digital and Financial Services Transformation

The UK has an “impressive” innovation infrastructure, including major research universities and levels of investment in Fintech only exceeded by the US, according to an update shared by Coinbase (NASDAQ:COIN). This has “contributed to the UK’s success in incubating and hosting some of Europe’s largest… Read More

New York Attorney General James Continues Crackdown on Unregistered Crypto Platforms

New York Attorney General Letitia James continued her efforts to crack down on unregistered cryptocurrency platforms by filing a lawsuit against KuCoin for allegedly failing to register “as a securities and commodities broker-dealer and falsely representing itself as an exchange.” The Office of the Attorney… Read More

Digital Asset Firm Finoa Receives Full German Crypto License

Finoa are pleased to announce that they received three license approvals from BaFin (Bundesanstalt für Finanzdienstleistungsaufsicht) for crypto custody, crypto brokerage, and proprietary trading of crypto. The licenses mean that Finoa is now “a fully regulated financial institution, and will be able to offer a… Read More

Coinbase Explains Why Its Staking Services are Not Securities

As more of the crypto ecosystem adopts proof of stake over the more energy-intensive proof of work protocol, crypto users around the world are “being introduced to the benefits of ‘staking,” according to an update from Coinbase (NASDAQ:COIN). Paul Grewal, Chief Legal Officer at Coinbase,… Read More

Fireblocks, Proof of Stake Alliance Comment on Kraken’s Settlement with SEC

  Digital asset firm Kraken’s settlement with the US Securities and Exchange Commission (SEC) has left many wondering what this means for the industry’s future. Fireblocks’ Chief Legal & Compliance Officer Jason Allegrante and Proof of Stake Alliance (POSA)’s Executive Director Alison Mangiero have the… Read More

Digital Asset Firm HAYVN Welcomes Crypto Regulatory Clarity in the UK

The UK government has released proposals for regulation of the cryptocurrency industry in hopes of “stabilizing the market while diminishing the incentives for users to flock to offshore jurisdictions.” Perhaps one of the benefits of the post-FTX landscape is that regulators are now “urged to… Read More

Fireblocks Chief Legal and Compliance Officer Jason Allegrante Predicts that Crypto-Asset Regulations will Be Solidified in 2023

The Federal bank regulatory agencies released a joint statement on crypto-asset risks to banking organizations, which is “a move that has been long anticipated by the community.” Upon this news, Fireblocks’ Chief Legal & Compliance Officer Jason Allegrante feels confident that 2023 will “see an… Read More

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