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FCA Has Dealt With 1,400 Cases Related to Unregulated Crypto Activity, UK Regulator Reveals
13.12.2023
The U.K. Financial Conduct Authority (FCA) has revealed that it has dealt with over 1,400 crypto cases between January 2020 and June 2023. The regulator noted that “a shortage of crypto skills meant the FCA took longer than planned to register crypto-asset firms under money laundering...
Public Crypto Mining Firms Dropped Double Digits After Bitcoin’s Largest Decline in Four Months
12.12.2023
Source: Adobe/artiemedvedev Crypto mining firms have seen double-digit drops after Bitcoin (BTC) experienced its most significant decline in nearly four months. Over the weekend, the value of Bitcoin plummeted to as low as $40,000 after reaching a high above $43,900, causing a ripple effect across...
Coinbase, Conio, Partner to Provide Crypto Services to Italian Banks
11.12.2023
Source: AdobeStock / gguy Cryptocurrency wallet firm Conio, partly owned by Poste Italiane and Banca Generali, has partnered with Coinbase to give Italian banks and financial institutions access to digital assets. Conio said it has added Coinbase Prime as a liquidity provider and the agreement...
South Korean Regulator Rules NFTs Are Not Subject to Crypto Law
11.12.2023
Source: TSViPhoto/Adobe South Korean financial regulators have said NFTs are not subject to the same rules as cryptoassets, a ruling that may buoy token issuers and blockchain gaming firms. Per News1, the Financial Services Commission (FSC), the nation’s top regulator, stated that “following...
Kazakhstan Financial Regulator Barred 980 Crypto Firms For Non-Registration
8.12.2023
Source: Iliya Mitskavets/Adobe The Financial Monitoring Agency (FMA) blocked 980 digital asset exchanges for offering trading services to users in Kazakhstan without the required regulatory nod. In a Dec 7 press release, the financial regulator revealed that it barred almost 1,000 crypto trading...
UK Financial Regulator Adds Poloniex to Warning List Amid Recent $100 Million Hack: What’s Going On?
7.12.2023
Source: AdobeStock / Ascannio The Financial Conduct Authority has added cryptocurrency exchange Poloniex to its warning list of firms that may not be fully authorized to render trading services in the country. In an official publication on Dec 6, the financial regulator warned users from dealing...
Warren Buffett-Backed Nubank Collaborates With Circle and Talos to Increase Crypto Access in Brazil
7.12.2023
Warren Buffett-backed Nubank is collaborating with crypto firms Circle and Talos to increase crypto access and adoption in Brazil. Nubank Cripto has added 11 new cryptocurrency options to the platform this year. “We continue to see strong demand across Latin America for access to dollars...
Japan to Exempt Companies From Unrealized Crypto Gains Tax – Report
6.12.2023
Source: Pixabay Japanese lawmakers discussed Tuesday on plans to exempt companies from paying tax on unrealized cryptocurrency gains. The proposal is set to be included in the fiscal 2024 tax reform plan. According to a Nikkei report, the proposal is being discussed by the country’s ruling...
Belarus Wants to Use Its CBDC to Evade Sanctions
6.12.2023
Source: christophe/Adobe Belarus wants to accelerate the launch of its CBDC as it looks to evade US and EU-led sanctions and let its firms trade with international partners. Per Belarus’ Ekonomicheskaya Gazeta, President Alexander Lukashenko could issue a CBDC-related verdict in the coming days....
Crypto Firms Should Use Binance’s Settlement As a “Template” For How to Operate, Says CFTC Commissioner Kristin Johnson
5.12.2023
Source: Pixabay Binance’s $4.3 billion fine from the Commodity Futures Trading Commission should be used as a “template” for how to operate, CFTC Commissioner Kristin Johnson said. Speaking at the Financial Times’ Crypto and Digital Assets Summit: Winter Edition on Tuesday, Johnson asserted that...
Indian Government Reveals 28 Crypto Service Providers Are Registered With Financial Intelligence Unit
5.12.2023
The Indian government has revealed that 28 crypto service providers are currently registered with the country’s Financial Intelligence Unit. Furthermore, the Ministry of Finance has clarified that the anti-money laundering guidelines and reporting requirements apply to offshore cryptocurrency...
3 Best Scandal Coins to Buy Now
4.12.2023
So-called “scandal” tokens are seeing a massive pump as risk appetite in the broader crypto market amps up as Bitcoin (BTC) hits fresh highs for the year above $42,000. Scandal tokens are cryptocurrencies/tokens associated with failed or defunct crypto projects/firms that were struck down...
South Africa’s Financial Regulator to Assess 36 Crypto Firms Seeking Licenses in December
4.12.2023
Source: Pexels South Africa’s financial regulator, the Financial Sector Conduct Authority (FSCA) is set to review the applications to 36 cryptocurrency companies seeking operational licenses in the country this month. According to a report published by local media sources, the regulator will...
Hacker Drains Over $2 Million from Safe Wallet- What’s Going On?
4.12.2023
Source: Pixabay A malicious actor has stolen over $2 million from Safe Wallet users in the past week through address poisoning theft raising the total victim count to 21. Several blockchain security firms have tracked suspected activity from different transactions resulting in losses from Safe...
Chinese Firms Can Now Make Digital Yuan Housing Fund Payments
4.12.2023
Chinese firms can now use the digital yuan to pay into employee housing funds, as the nation’s banks look for new CBDC applications. Per the Guangzhou Daily (via the Guangzhou government’s website), the Guangzhou Housing Provident Fund Management Center has “launched digital yuan remittance...
Crypto Firms’ Compliance With Regulation Should Not Be at the Expense of Innovation — Zak Taher
2.12.2023
Zak Taher, the CEO of Multibank.io, said he believes the United Arab Emirates (UAE) is the most attractive investment destination for overseas digital asset companies due to its effective governance and the leadership of its individuals. The UAE’s status within the global financial landscape...
US Deputy Treasury Secretary calls for additional tools to sanction crypto firms
29.11.2023
Wally Adeyemo cited a recent settlement with crypto exchange Binance and sanctions against crypto mixer Sinbad in calling for an expansion of the U.S. Treasury’s authority
Crypto Firms That Act Like Banks Should Be Regulated Like Them, ECB Official Says
29.11.2023
But supervision of bank-like crypto firms could be a pain for regulators, said Andrea Enria, chair of the supervisory board at the European Central Bank
Additional Regulations May be Needed to Prevent Another FTX Style Catastrophe, FSB Report
28.11.2023
Additional regulation may be needed to prevent another FTX-style collapse according to a new report from the Financial Stability Board (FSB) released Tuesday, November 28th. The report’s goal The international financial monitoring body’s report particularly focuses on multifunction crypto-asset...
Failure of Multi-Function Crypto Firms a Limited Threat to 'Real Economy': FSB
28.11.2023
A new report by the Financial Stability Board said further assessments of possible implications are required because "significant information gaps remain."