Search
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...
California's Crypto Regulation: Will It Push Firms Out?
19.10.2023
California has signed the Digital Financial Assets Law, raising concerns within the industry regarding the potential consequences of this legislation.
On Friday, Governor Gavin Newsom signed the bill into law, aiming to regulate California's cryptocurrency industry, which is home to nearly...
Coinbase selects Ireland as its European crypto hub
19.10.2023
The crypto exchange has applied for a license under the EU’s new Markets in Crypto-Assets with the Central Bank of Ireland and, if successful, will be able to "passport" its services across EU states
Singapore Establishes Task Forces to Assist Police in Crypto-Related Crimes
18.10.2023
Singapore's Attorney-General's Office has officially established two specialized task forces, comprising approximately 20 prosecutors, tasked with addressing the crypto related crimes.
Deputy Chief Prosecutor of the Attorney-General's Chambers, Ong Shouren, told a local news outlet that...
Binance Stops Accepting New Users in UK to Comply With Crypto Regulations
18.10.2023
Binance has announced that it will no longer accept new users in the U.K. in order to comply with new crypto regulations from the Financial Conduct Authority (FCA). Binance explained that it is currently looking for an FCA-authorized firm to review and approve its U.K. financial promotions...
Australia Government Wants Crypto Exchanges to Possess a Financial Services License
17.10.2023
Australia-based crypto exchanges may soon be required to hold a financial services license issued by the Australian Securities and Investments Commission. The Australian government expects to have the draft legislation ready in 2024. According to the proposals, crypto exchanges will be given...
JPEX Scandal Undermines Trust in Crypto Among Hong Kongers, Survey Reveals
17.10.2023
Attitudes toward crypto in Hong Kong have taken a hit, as a new survey reveals a growing aversion to virtual assets in the aftermath of the JPEX scandal.
This shift in sentiment poses significant challenges to Hong Kong's aspirations to establish itself as a global hub for the cryptocurrency...
SEC Announces Increased Oversight of Cryptocurrencies in 2024 Fiscal Plan
16.10.2023
The U.S. Securities and Exchange Commission (SEC) released its fiscal plan for 2024 today, detailing a heightened regulatory focus on cryptocurrency and associated financial technologies. This report comes from the SEC's Division of Examinations and outlines the agency's approach to emerging market...
Aussie crypto exchanges look to new licensing regime with cautious optimism
16.10.2023
Australian crypto exchanges have largely praised the Treasury’s latest proposal to place crypto exchanges under the existing financial services license regime, though some worry it could box the crypto industry into a TradFi-shaped box
California Gov. Newsom greenlights crypto regulation bill for 2025
15.10.2023
The bill will mandate crypto firms to uphold financial records and allow regulators to conduct audits on these entities
Ripple’s Legal Chief Calls for ‘Rational’ Crypto Regulation — Urges US to Stop Elevating Politics Over Sound Policy
15.10.2023
Ripple’s chief legal officer says the U.S. needs to ”stop elevating politics over sound policy.” Noting that countries and regions outside of the U.S., such as Singapore, the U.K., the EU, and Japan, welcome crypto businesses, he emphasized: “I think we need a rational...
G20 adopts IMF-FSB Synthesis paper on crypto regulation
13.10.2023
The Group of Twenty accepted the regulatory roadmap proposed in a joint Synthesis paper of the International Monetary Fund and the Financial Stability Board in September
G20 Finance Leaders Release Joint Communique Adopting Crypto Regulation Roadmap
13.10.2023
G20 Finance Ministers and Central Bank Governors have issued a joint communique in Marrakech, Morocco announcing unanimous adoption of a comprehensive roadmap aimed at regulating crypto assets.
The joint communique was released during the fourth and final G20 FMCB meeting under India’s...
Report: Cyprus Mulls Imposing Hefty Fines on Unregistered Crypto Service Providers
12.10.2023
Crypto firms that operate in Cyprus without registration may soon be fined as much as $350,000 while individuals behind such firms could face up to five years in jail. The Finance Ministry says its proposals, which are included in a draft recently submitted to parliament, seek to align...
OpenAI CEO Sam Altman: Crypto Regulation in the US, A ‘War’ on the Industry
10.10.2023
Sam Altman, the founder of Worldcoin and CEO of OpenAI, has voiced his concerns regarding the escalating efforts by the US government to regulate and exert authority over the cryptocurrency market.
He has likened these actions to a form of "war" against the industry.
In a recent interview on...
South Korea's Crypto Market Cap Nearly Doubles in First Half of 2023, Surpasses $21 Billion
9.10.2023
South Korea's virtual asset market has experienced a significant surge during the first half of 2023, reaching a total market cap of $21.1 billion.
The Financial Services Commission (FSC) of South Korea revealed that the country's crypto market cap witnessed a 46% increase compared to the previous...
India to Push Crypto Regulation Talks at Final FMCBG Meet in Morocco
9.10.2023
Finance ministers and central bank governors are all set to meet for the final time under India’s G20 presidency on October 12 and 13 in Marrakesh, Morocco.
The roadmap for crypto regulations is expected to be one of the major key agendas during the meeting. India will seek to ensure that...
New BIS Plan Mandates Banks to Disclose Crypto Holdings
6.10.2023
The Basel Committee on Banking Supervision has unveiled a new plan that will require banks to disclose their cryptocurrency holdings.
This development comes on the heels of a tumultuous year that witnessed the collapse of several major crypto firms as well as crypto-focused lenders Signature...