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JPEX Scandal Sparks Creation of Hong Kong Police Crypto Crimes Group
5.10.2023
On October 4, the Securities and Futures Commission (SFC) of Hong Kong, in collaboration with the Hong Kong Police, announced the formation of a special group to monitor and investigate crimes related to crypto exchanges.
The initiative was prompted by the ongoing controversies surrounding...
Cryptoasset Ecosystem Booms in Latin America and Caribbean: Study
5.10.2023
The Inter-American Development Bank (IDB) and the Cambridge Centre for Alternative Finance (CCAF) have jointly released a report that provides growing trends in the cryptocurrency industry in Latin America and the Caribbean.
Latin America and the Caribbean have shown “substantial growth” in...
Hong Kong Crypto Exchange JPEX Launches DAO Stakeholder Dividend Plan Amid Scandal and Arrests
5.10.2023
Hong Kong's troubled crypto exchange JPEX has announced plans to move forward with its DAO Stakeholder Dividend Plan.
This decision comes amid the ongoing investigation into the financial scandal worth over HK$1.5 billion ($191 million) and the arrest of multiple suspects associated with...
South African Crypto Exchange Valr Receives ‘Initial Approval’ From Dubai Virtual Assets Regulator
5.10.2023
Valr, the South Africa-based crypto exchange, recently said it had won initial approval from the Dubai virtual assets regulator. The crypto exchange’s Head of Growth, Blake Player, said Valr has been attracted by the Middle East region’s significant crypto flows and in particular Dubai’s growing...
Brazilian CVM Resolution Comes Into Effect, Allowing Funds to Allocate Part of Their Portfolios Into Crypto
4.10.2023
The Brazilian Securities and Exchange Commission (CVM) has opened the doors for investment funds to invest in cryptocurrency. Resolution 175, drafted last year and coming into effect on October 2, defines the rules these institutions must follow to invest in crypto, with analysts predicting a rise...
Promoters and Attorney of $100 Million Crypto Mining Ponzi Scheme Sentenced to Prison
4.10.2023
Three individuals involved in a global fraud and money laundering operation linked to the cryptocurrency scheme, AirBit Club, have received prison sentence, Department of Justice revealed in a press release.
Scott Hughes, an attorney who played a key role in laundering approximately $18 million...
Kevin O’Leary Warns of Crypto Innovation Fleeing US Due to Regulatory Hurdles
4.10.2023
Shark Tank investor Kevin O’Leary, aka Mr. Wonderful, has expressed concerns that regulatory obstacles will drive crypto innovation away from the U.S. His comments followed a congressional hearing where Congress members grilled U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler...
Bank of Portugal’s Chief Pushes For Global Crypto Regulation – Here’s What You Need to Know
3.10.2023
The governor of Banco de Portugal, Mário Centeno has called for international cooperation towards a global framework for crypto regulation.
According to him, national efforts alone cannot protect investors due to the nature of digital assets as it can lead to regulatory arbitrage creating...
India Planning to Launch Global Database of Crypto Exchanges by Next Year
3.10.2023
India is planning to introduce a comprehensive global database of cryptocurrency exchanges to help law enforcement agencies combat crypto-related crimes.
This initiative comes as part of India's push to align itself with international standards for regulating cryptocurrency assets.
As per...
US Representative Introduces Legislation to Mandate Reporting of Off-Chain Crypto Transactions to the CFTC
30.9.2023
Virginia’s Democratic representative Don Beyer has ushered in a fresh bill mandating the documentation of off-chain transactions and over-the-counter (OTC) crypto engagements by cryptocurrency exchanges, to be catalogued in a repository under the purview of the U.S. Commodity Futures Trading...
Non-Regulation of Web3 Space Making ‘Mainstream Adoption Harder’ Says AGG’s Jack Vinijtrongjit
29.9.2023
According to Jack Vinijtrongjit, the co-founder and CEO of the Web3 infrastructure company AAG, more prospective users will be drawn to decentralized finance (defi) and non-fungible tokens (NFTs) if tools that help them avoid falling prey to scammers are developed and deployed. Vinijtrongjit argued...
The World Federation of Exchanges Chips Recommendations for Crypto Service Providers as Regulatory Concerns Grow
29.9.2023
The World Federation of Exchanges, WFE has shared its suggestions for the digital asset sectors as user adoption and regulatory fears surges.
In a Sept 28 press release, the exchange body pointed out six recommendations for the sector and regulators to address user fears as some of their members...
Venezuelan Crypto Watchdog Sunacrip Extends Restructuring Period; Community Asks for Clarity
29.9.2023
The Venezuelan government has officially announced the extension of the restructuring period for Sunacrip — the national cryptocurrency watchdog — by six months more due to the link of its former head with a corruption scheme. Asonacrip, a national crypto association, is asking Sunacrip to open...
US House Committee Grills SEC Chair Gary Gensler Over Crypto, Dubbed 'Tonya Harding of Regulation'
28.9.2023
In a congressional hearing on September 27, the chair of the United States Securities and Exchange Commission (SEC) Gary Gensler, faced a barrage of questions and criticisms regarding the oversight of crypto markets.
Colorful analogies and sharp rebukes at the hearing shed light on...
Gemini to Halt Crypto Services in the Netherlands Due to Regulatory Pressure - Here's What You Need to Know
26.9.2023
Crypto regulation in the Netherlands has led Gemini to discontinue its services in the country. In an email sent to users today, the exchange announced that it will cease offering its services starting November 17, 2023.
This move comes in response to stipulations put in place by the...
Is Another US Government Shutdown on The Horizon?
26.9.2023
Over the next week, the United States government faces the possibility of a shutdown as House Speaker Kevin McCarthy grapples with internal political pressures regarding spending plans.
The decision could also have adverse effects on the progress of crypto bills awaiting a vote, potentially...
Nine Crypto Firms in Taiwan Form Working Committee to Foster Regulatory Push
26.9.2023
Taiwan’s crypto community is coming forward to establish a working group in mid-October to “effectively integrate” digital currency adoption and self-compliance, in a move to “establish an effective and smooth communication channel with the government.”
According to a press release, nine...
Crypto Regulation Needs Teeth: Ex-SEC Official Pushes for DOJ Involvement
26.9.2023
The issue of crypto regulation in the United States has intensified following outspoken criticisms from John Reed Stark, a former SEC official, on Saturday. ...
Read More: Crypto Regulation Needs Teeth: Ex-SEC Official Pushes for DOJ Involvement
Hong Kong to tighten crypto regulation, Thailand to tax crypto overseas: Law Decoded
25.9.2023
While Thai regulators aim to tax crypto earned overseas, Brazilian lawmakers seek to protect it from seizure
Latam Insights: Bitcoin Farm Found at Venezuelan Jail, Bill Protecting Crypto From Seizure Advances in Brazil
25.9.2023
Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news during the last week. In this issue: a Bitcoin mining farm is discovered during a raid on a Venezuelan jail, a bill that protects crypto from seizure advances in Brazil, and the Chilean police...