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South Korea’s Ruling Party Seeks Cryptocurrency Tax Delay as Election Promise
19.2.2024
South Korea’s ruling People Power Party is advocating for a two-year postponement of the taxation on gains from cryptocurrency investments. The move is seen as a potential campaign promise for the upcoming general election scheduled for April. The party aims to prioritize establishing...
U.S. Regulators Can Influence Tether’s Offshore Usage: JPMorgan
17.2.2024
Tether’s (USDT) dominant position as the largest stablecoin faces regulatory challenges and risks from various authorities and jurisdictions as they seek to impose more transparency and compliance on stablecoins. The stablecoin is vulnerable due to its dependence on the American market and pending...
ZK Proofs Enable Defi Platforms to Meet Regulatory Requirements Without Compromising User Data, Says Ex-FCA Regulator
16.2.2024
Diana Tlupova, Head of Compliance at Nexera ID, has argued players in the decentralized finance (defi) space can stay ahead of regulators who might want to impose stringent Know-Your-Customer (KYC) rules by using zero-knowledge (zk) proofs to authenticate user credentials. Tlupova contends that,...
Jupiter’s Compliance Team Blocks Crypto ETP Investment: Report
16.2.2024
Jupiter Asset Management’s compliance team blocked its team from having any exposure to a cryptocurrency exchange-traded product (ETP) in one of its Irish UCITs funds, according to a Financial Times report. The reason for blocking investment was due to, “divergent regulatory approaches in the EU.”...
Debt Box Urges Utah Federal Judge to Reject SEC’s Motion to Dismiss Enforcement Action
15.2.2024
Debt Box, a software firm entangled in a legal battle with the United States Securities and Exchange Commission (SEC), has launched a countermove against the regulatory body’s attempt to dismiss the case. Filed on February 14, Debt Box’s response characterized the SEC’s motion as a strategic...
US Treasury to Discuss Crypto Finance Concerns at Congressional Hearing
14.2.2024
The United States Treasury is gearing up to address Congress on the emerging challenges posed by cryptocurrencies to existing financial regulatory frameworks. In his prepared testimony for the House Financial Services Committee, Brian Nelson, Treasury’s Under Secretary for Terrorism...
Ripple Aims to Expand Regulatory Reach With Standard Custody Acquisition
13.2.2024
In a strategic move to bolster its regulatory credentials, Ripple has announced its plan to acquire Standard Custody & Trust Company. This acquisition, pending regulatory approval, is set to enhance Ripple’s portfolio of digital asset solutions and regulatory licenses, marking...
Ripple to Acquire Standard Custody to Strengthen Regulatory Licenses Portfolio
13.2.2024
Ripple has announced a deal to acquire the New York-based digital asset platform Standard Custody and Trust Company, pending regulatory approval. Once the acquisition is finalized, Ripple will become the sole shareholder of Standard Custody, leveraging its limited-purpose trust charter and money...
CoinDCX Partners with Defunct Crypto Exchange Koinex to Provide Access for its Users
13.2.2024
CoinDCX has partnered with Koinex, an Indian cryptocurrency exchange that ceased all trading operations due to regulatory uncertainties, to enable the platform’s users to access their assets. In a Tuesday announcement, CoinDCX said it has struck a Memorandum of Understanding (MoU) deal with...
Crypto Infrastructure Firm Aquanow Obtains VASP License in Dubai
13.2.2024
Canadian-based crypto infrastructure firm Aquanow acquired a Virtual Asset Service Provider (VASP) license from financial authorities in Dubai. In a Feb 12 announcement, Aquanow disclosed that it received the regulatory nod from the Virtual Assets Regulatory Authority (VARA) in Dubai to offer...
Bitcoin Price Prediction: Surges Past $50,000, ETF Approval Spurs Market Optimism
13.2.2024
Bitcoin’s price prediction buzz intensifies as it surges past the $50,150 mark, posting a significant 4% increase. This milestone, a peak not witnessed in over two years, signals renewed investor confidence catalyzed by recent regulatory advancements and anticipation of further interest rate...
Two Russian Crypto Mining Centers Shut Down, 400+ Rigs Taken Offline
13.2.2024
Russian crypto mining efforts suffered a setback last week, with police closing two large, illegal data centers. In total, officers said they took over 400 crypto mining rigs offline in raids in Siberia and the republic of Dagestan. Russian Crypto Mining Still in Regulatory ‘Grey Zone’...
Bitcoin Price Prediction as $20 Billion Pushes BTC Above $48,000 – $100,000 Incoming?
12.2.2024
Bitcoin‘s market position is bullish as it hovers near $48,000, amidst widespread anticipation of potential growth to $100,000. Glassnode’s analysis marks the current Bitcoin market as “high risk,” emphasizing the volatile nature of cryptocurrency investments. Grayscale...
Arthur Hayes Argues for ‘Points’ System Instead of ICOs for Crypto Fundraising
9.2.2024
Due to growing regulatory challenges and concerns surrounding ICOs (Initial Coin Offerings) in the crypto industry, BitMEX CEO Arthur Hayes proposed a crypto ‘points’ system as an alternative on February 9. Hayes shared his latest idea in a blog post called ‘Points Guard,’ emphasizing...
AI Coins Start to Lose Steam – Algotech Primed to Grab Attention
8.2.2024
TLDR Leading institutional holder Kenetic Capital sells off over 2.5 million RNDR in 2 months, resulting in a major impact on token price. UK-based Fetch.ai (FET) struggles to manage operations resulting from regulatory challenges. Algotech (ALGT) and Bittensor (TAO) emerge as standout options...
European Markets Org Praises Bank of England On UK Stablecoin Rules
7.2.2024
Today, the Bank of England extended the deadline for citizens to provide feedback on its proposed regulatory regime for UK stablecoins from February 6 to February 12. The central bank’s discussion paper focused on rules for sterling-denominated stablecoins, which it believes are the most likely...
South Korea Exchange Association Petitions OKX for Offering Services Without Approval
7.2.2024
A group of cryptocurrency exchanges known as the Digital Asset Exchange Alliance (DAXA) has reported rival OKX to the financial authorities in South Korea. According to a Feb 7 report, OKX faces regulatory scrutiny by South Korean authorities after a report that it targeted local traders without...
Vast Bank Withdraws From Cryptocurrency Sector, Shuts Down Mobile App
7.2.2024
Vast Bank, the U.S. financial institution that once offered customers the unique ability to manage cryptocurrencies alongside traditional banking, is exiting the digital asset space and shutting down its crypto mobile app in response to a consent order from the Office of the Comptroller of...
US and UK Financial Regulators Discuss Effective Crypto Oversight
7.2.2024
The U.S. and U.K. Financial Regulatory Working Group has emphasized the importance of effective regulation and oversight of crypto assets and markets. They also reiterated their support for the international work on crypto assets. US-UK Financial Regulatory Working Group Discusses Crypto Regulation...
Paradigm Advocates for Prediction Markets as Hedge Against Crypto Regulatory Risks
6.2.2024
Venture capital firm Paradigm has filed a legal brief in support of the prediction market platform Kalshi, which is currently in a legal battle against the Commodity Futures Trading Commission (CFTC). In a “friend-of-the-court” brief filed recently, Paradigm, despite not being...