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UK's Proposed Crypto Rules Could Drive Away Foreign Firms, Lawyers Say
16.11.2023
The government has said it won't extend certain regulatory exemptions reserved for foreign TradFi firms to crypto
US Lawmakers Write to Treasury Department Seeking Amendment On Proposed Crypto Tax Rules
16.11.2023
Source: Pixabay A group of United States lawmakers have led an effort for a change in the proposed cryptocurrency tax regime announced by the Treasury Department. The group addressed a letter to the Department on Nov 15 urging the body to change its approach to regulating the sector specifically...
U.S. Lawmakers Urge Treasury to Revise Proposed Crypto Tax Rules
16.11.2023
A letter by a bipartisan group of U.S. lawmakers has urged the U.S. Treasury to revise its proposed digital-assets taxation regime
40+ Countries Implementing International Crypto Reporting Framework
15.11.2023
Over 40 countries have agreed to implement the crypto reporting framework developed by the Organisation for Economic Co-operation and Development (OECD) as mandated by the G20. The widespread, consistent, and timely implementation of this crypto reporting framework “will further improve...
‘We're Not Asking for Special Treatment’: Coin Center on the Proposed IRS Broker Rules
14.11.2023
Blockchain Association Pushes Back Against IRS Regulations on Crypto Brokers
14.11.2023
Source: Adobe / photoschmidt The Blockchain Association, a prominent crypto advocacy and lobbying group based in the US, has strongly opposed proposed Internal Revenue Service (IRS) regulations targeting crypto brokers. In a comment letter submitted on November 13, the association argued that...
Mediation to begin in FTX, BlockFi Case, Judge Rules
14.11.2023
In a court filing on November 13th, U.S. bankruptcy judge Michael Kaplan ended an automatic stay on proceedings between bankrupt crypto companies FTX and BlockFi, paving the way for mediation in their claims settlement. BlockFi’s forced bankruptcy FTX founder, Sam Bankman-Fried, was found...
FTX Can Start Mediation, File Counterclaims in BlockFi Bankruptcy Case, Judge Rules
14.11.2023
BlockFi filed for bankruptcy in late November last year, in part because of the ripple effects of the sudden collapse of FTX, which triggered an automatic stay that halted proceedings between the two
Crypto advocacy group pushes back against proposed IRS rules on brokers
13.11.2023
The Blockchain Association claimed the U.S. Treasury overstepped its authority in proposing crypto tax rules difficult or impossible to follow by many in the space
Spanish Watchdog Initiates Sanctions Against Miolos for Violating Crypto Ad Rules
9.11.2023
Source: Pixabay The National Securities Market Commission (CNMV) of Spain has opened its first crypto infringement case against local technology provider Miolos. CNMV, the Spanish securities markets regulatory body, released an agreement on Wednesday, announcing “sanctions proceedings” against...
EU Banking Watchdog Issues Draft Liquidity Rules for Stablecoin Issuers
8.11.2023
Three consultations on relevant rules will run until Feb. 8, 2024, the European Banking Authority has said
EU banking watchdog proposes liquidity rules for stablecoin issuers
8.11.2023
The proposed guidelines are currently in the public consultation phase for the next three months, and if approved, it will come into effect starting in June 2024
UAE central bank to penalize unlicensed virtual asset service providers
8.11.2023
UAE lawyer Irina Heaver explained that the new guidance is part of the UAE’s efforts to be removed from the Financial Action Task Force’s (FATF) “grey list.”
SEC Commissioner Mark Uyeda Calls for Regulatory Rules on Crypto
6.11.2023
The US Securities and Exchange Commission (SEC) has tried regulating the crypto space through enforcement actions in the last three years. In the opinion of the agency’s commissioner, Mark Uyeda, this shortsighted approach makes it harder to bring much-needed clarity to the nascent industry....
Hong Kong Regulator Planning to Widen Purview of Virtual Assets Supervision
6.11.2023
The Hong Kong Monetary Authority is reportedly planning to expand the purview of its supervision of virtual assets to include entities that issue stablecoins. The Hong Kong regulator said it also wants to create a framework that governs banks’ provision of virtual asset custody services. Hong...
LedgerX highlights CFTC regulatory gap in customer asset rules
4.11.2023
The new CFTC proposal enhances rules for FCMs and DCOs, mandating high liquidity in customer fund investments
Another Court Finds SEC Acted ‘Arbitrarily and Capriciously’
3.11.2023
The United States Court of Appeals for the Fifth Circuit has found that the U.S. Securities and Exchange Commission (SEC) acted “arbitrarily and capriciously” in a case involving the stock buyback disclosure rule. “Another day and another court finds that the SEC again acted...
FCA releases guidance for compliance with new UK crypto asset promotion rules
2.11.2023
The regulator has made a few efforts to help crypto firms comply with the rules that came into force on Oct. 8
Hong Kong issues rules for asset tokenization as interest mounts
2.11.2023
Hong Kong's securities regulator, the SFC, treats tokenized securities like traditional securities, subject to the same legal and regulatory norms
Abu Dhabi Global Market Unveils New Regulations for Web3 Firms
2.11.2023
Abu Dhabi seeks to beef up its web3 landscape with new guidelines for blockchain-based firms as its crypto hub is projected to grow in the coming months. The Abu Dhabi Global Market (ADGM) announced new rules that create numerous blockchain foundations and how they operate within the jurisdiction...