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Kenyan Blockchain Association Told to Help Draft Regulation Bill, ‘Demystify’ Crypto
9.11.2023
The Blockchain Association of Kenya has been asked to help create the country’s first draft bill on crypto asset regulation. The National Assembly’s Departmental Committee on Finance and National Planning also asked the association to undertake “robust public education on cryptocurrency...
Tom Emmer’s Amendments to Curb SEC Enforcement Abuses against Crypto Passes House Unanimously
9.11.2023
Source: Twitter/@MNFarmBureau Pro-crypto Congressman Tom Emmer has made progress in his efforts to limit the powers of the United States Securities and Exchange Commission (SEC) when it comes to enforcing regulations on digital assets. The politician has attached an amendment to HR 4664, also known...
Crypto Regulation News Weekly Digest: SafeMoon Executive Charges and FinCEN’s Mixing Service Proposal
7.11.2023
Last week saw major regulatory actions against crypto mixing services and alleged fraud along with pushback from lawmakers. Image by Andrii, Adobe Stock. The cryptocurrency industry increasingly finds itself under the purview of regulators striving to balance innovation with consumer protection...
Kenyan Blockchain Association to Issue First Draft of The Country’s Crypto Regulation
7.11.2023
Source: Pexels The Blockchain Association of Kenya (BAK) has announced that it will prepare the first draft of the country’s blockchain legislation as it seeks to join the list of nations with proper rule clarity. According to local media reports, the lobby group met with the National Assembly...
Bittrex Global CEO Supports UK Treasury’s Crypto Regulation Steps – Here’s the Latest
6.11.2023
Bittrex Global CEO Oliver Linch has voiced support for the UK Treasury’s recent crypto asset regulation proposals, arguing that they could help the country achieve its goal of becoming a leading hub for digital assets. In a recent interview, Linch, a former solicitor at Shearman &...
Rosfinmonitoring: Crypto Popularity Soars in Russia, 185K Transactions Registered in 2023
3.11.2023
Director of Rosfinmonitoring Yuri Chikhanchin referred to the rise in popularity that crypto is experiencing in Russia in a recent interview, stating that more than 185,000 cryptocurrency transactions were completed during the first nine months of 2023. Chikhanchin also called for regulation in...
UK Crypto Regulation Plan Draws Criticism from Former FCA Head
3.11.2023
Charles Randell, former chair of the Financial Conduct Authority (FCA), has criticized the UK government’s plans to regulate the crypto industry in a way similar to traditional financial investments. His comment comes as the UK government is moving forward with its plans to regulate...
Coinbase Halts Staking Services in Maryland Following Securities Commissioner’s Order
2.11.2023
In an unfolding development, the US cryptocurrency exchange Coinbase announced the suspension of its staking services in Maryland today via an e-mail to its customers. The decision follows a preliminary cease and desist order issued by the Maryland Securities Commissioner on June 6, 2023. The order...
UK’s National Crime Agency Seeks to Set Up Specialized Team to Combat Cryptocurrency Scams and Fraud
2.11.2023
The United Kingdom’s National Crime Agency (NCA) is taking a proactive stance against the rising threat of cryptocurrency scams and fraud. In response to the increasing attempts by bad actors to deceive crypto investors, the NCA has announced plans to establish a specialized cryptocurrency...
SEC Commissioner Hester Peirce Challenges SEC’s Actions in LBRY Case
28.10.2023
Hester Peirce , a commissioner at the Securities and Exchange Commission (SEC), has expressed her strong disapproval of the agency’s handling of charges against cryptocurrency startup LBRY. In a statement released on Friday, Peirce, known for her favorable stance towards the crypto industry...
Turkey Projects Finalization of Cryptocurrency Taxes by Next Year
27.10.2023
Turkish government intends to establish a regulatory framework for crypto assets, including plans to tax these digital assets, starting 2024. The regulatory measure came as a part of the government’s 2024 Presidential Annual Program, unveiled on Wednesday. The translated document sheds light...
Taiwan Advances Crypto Regulation as Draft Act Passes First Reading in Parliament
27.10.2023
Taiwan parliament, the Legislative Yuan, has passed the first reading of a proposed crypto law that would regulate the crypto asset industry. Taiwan has taken a significant step toward regulating the crypto sector by proposing a special crypto law, which has passed its first reading at...
Taiwan Crypto Regulation Gets Going With First Reading of Digital Asset Bill
27.10.2023
The bill sets the groundwork for defining what a virtual asset is and how exchanges should operate in Taiwan
JPMorgan Warns of Potential Lawsuits if SEC Rejects Spot Bitcoin ETF Applications
26.10.2023
The possibility of SEC approval for a spot bitcoin exchange-traded fund (ETF) has generated growing optimism in recent weeks, with some analysts predicting approvals could come within months. Potential legal battles loom if the SEC ultimately rejects any spot Bitcoin ETF applications, however....
Senior Public Officials in South Korea Declare Crypto Holdings
26.10.2023
Senior public officials in South Korea’s Gyeonggi province have declared their cryptocurrency holdings. The disclosure comes as part of the province’s efforts to ensure transparency among its government employees to avoid conflict of interest. Gyeonggi province announced that it...
UK Financial Watchdog Flags “Common” Failures in Crypto Marketing
25.10.2023
The Financial Conduct Authority (FCA) has identified some recurring issues in the marketing of cryptoassets following the implementation of new regulations on October 8. In a Wednesday blog post, the FCA highlighted three primary problems, which include misleading claims regarding...
Binance is Reportedly Behind New Hong Kong Crypto Exchange Seeking License
25.10.2023
Crypto exchange giant Binance seems to have connections with a newly established cryptocurrency trading platform in Hong Kong that has announced its intention to apply for a license in the city, according to a South China Morning Post report.
The trading platform, known as HKVAEX, was created...
Stablecoins Surpass Mastercard and PayPal in Transaction Volume While U.S. Fails to Maintain Leadership
24.10.2023
In 2022 stablecoins have eclipsed both Mastercard and PayPal in transaction volume, reaching an impressive sum of nearly $6.87 trillion last year. Despite their critical role in the crypto economy, however, the United States is falling behind in stablecoin policy and global...
Crypto Exchange Coinbase Chooses Ireland as EU MiCA Hub
21.10.2023
U.S. cryptocurrency exchange Coinbase has selected Ireland as the main regulatory hub for its operations across the European Union. The company hopes to obtain a license in Ireland that will allow it to provide services in EU member states under the pan-European Markets in Crypto Assets (MiCA) law....
Pennsylvania State House Committee Passes Bill on ‘Reporting Requirements’ for Crypto Miners
19.10.2023
The Environmental Resources and Energy Committee of the Pennsylvania General Assembly recently passed a bill which proposes “reporting requirements for qualifying crypto-asset mining operations.” Sponsor of the draft legislation Greg Vitali said the bill “doesn’t prohibit...