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FCA Has Dealt With 1,400 Cases Related to Unregulated Crypto Activity, UK Regulator Reveals
13.12.2023
The U.K. Financial Conduct Authority (FCA) has revealed that it has dealt with over 1,400 crypto cases between January 2020 and June 2023. The regulator noted that “a shortage of crypto skills meant the FCA took longer than planned to register crypto-asset firms under money laundering...
Senate Coalition Grows to Crack Down on Crypto’s Use in Illicit Finance
13.12.2023
U.S. Senator Elizabeth Warren’s bill to crack down on crypto’s use in illicit finance has gained more support among lawmakers. “The Treasury Department is making clear that we need new laws to crack down on crypto’s use in enabling terrorist groups, rogue nations, drug lords...
Skybridge Founder Sees Bitcoin as Multi-Trillion-Dollar Asset — Confident Jamie Dimon Will Change His Tune About BTC
13.12.2023
Skybridge Capital founder Anthony Scaramucci has predicted a multi-trillion-dollar future for bitcoin, independent of the U.S. Securities and Exchange Commission (SEC)’s spot bitcoin exchange-traded fund (ETF) decision. He also urged Senator Elizabeth Warren to learn more about Bitcoin...
Former SEC Official Warns of the End of Binance — ‘It’s Only a Matter of Time Before Entire Binance Plea Deal Collapses’
12.12.2023
The U.S. Securities and Exchange Commission’s former head of internet enforcement has warned that the newly unsealed Department of Justice (DOJ) filing should “signal the end of Binance.” Additionally, he noted that the SEC has heightened its legal action against the crypto exchange....
Financial Giant Fidelity Discusses Spot Bitcoin ETF Application With SEC
11.12.2023
Financial services giant Fidelity recently met with the U.S. Securities and Exchange Commission (SEC) regarding its spot bitcoin exchange-traded fund (ETF) application. Like Blackrock, the world’s largest asset manager, Fidelity appears to be pushing to use the in-kind creation model for...
SEC Warns Crypto Investments Can Be ‘Exceptionally Risky’
11.12.2023
The U.S. Securities and Exchange Commission (SEC) has renewed its warning that investments in crypto assets can be “exceptionally risky.” The regulator stressed that crypto-related investments “continue to be replete with fraud, including bogus coin offerings, Ponzi and pyramid...
Indian Government Confirms Commitment to Supporting Web3 Startups
9.12.2023
The Indian government has confirmed its commitment to supporting startups that are innovating in the Web3 sector in India. “Web3 represents the future of internet and the government is committed to ensuring that the innovators and innovation from India create the future of Web3...
US Senator Calls for Light Crypto Regulation That Doesn’t Kill Innovation and Drive Companies Offshore
9.12.2023
A U.S. senator says Congress needs to regulate the crypto industry “with a light touch that doesn’t kill innovation in the U.S.” Noting that crypto “has the potential to disrupt much of the traditional banking model,” he stressed that crypto regulation needs to...
Parliament of India Holds Discussion on Future of Web3
7.12.2023
Source: Pixabay The lower house of the Indian Parliament, Lok Sabha, held a discussion on the importance of web3 and blockchain sector in India on December 6. Rajeev Chandrasekhar, Minister of State for Electronics and Information Technology, emphasized the importance of Web3 and Blockchain...
US Lawmaker Blasts SEC for Deliberately Obfuscating Crypto Regulations — Questions Chair Gensler’s Personal Agenda
7.12.2023
A U.S. lawmaker has slammed the Securities and Exchange Commission (SEC) for having a deliberate policy preference to provide less clarity to the crypto market. “The SEC is not adhering to the law. That’s why it keeps losing in court,” said Congressman Tom Emmer as he questioned...
The Most Influential Folks in Crypto Regulations
6.12.2023
CoinDesk published its annual Most Influential list (it's not a ranking, except for the top 10 being maybe more influential than the other 40). I wrote a few pieces (I had nothing to do with the art and didn't know about it when I wrote the pieces), as did my CoinDesk reg team colleagues, but...
SEC Makes ‘Materially False and Misleading’ Representations Against Crypto Firm — Judge Threatens Sanctions
6.12.2023
The United States District Court for the District of Utah has expressed concerns that the U.S. Securities and Exchange Commission (SEC) is making “materially false and misleading representations” in its lawsuit against a crypto firm. The court has ordered the securities regulator...
Why Are Crypto Prices Up? Former SEC Official Says There Are 2 Reasons
6.12.2023
The U.S. Securities and Exchange Commission’s former head of internet enforcement believes that there are two reasons why crypto prices are up. The first concerns regulatory oversight of the cryptocurrency industry, while the second revolves around the concept of the greater fool theory....
Indian Government Reveals 28 Crypto Service Providers Are Registered With Financial Intelligence Unit
5.12.2023
The Indian government has revealed that 28 crypto service providers are currently registered with the country’s Financial Intelligence Unit. Furthermore, the Ministry of Finance has clarified that the anti-money laundering guidelines and reporting requirements apply to offshore cryptocurrency...
Financial Advisors Are Waiting for Spot Bitcoin ETFs to Offer Clients, Says Ric Edelman
3.12.2023
Edelman Financial Services founder Ric Edelman has explained that financial advisors are waiting for the U.S. Securities and Exchange Commission (SEC) to approve spot bitcoin exchange-traded funds (ETFs) so that they can offer these investment products to their clients. “Every compliance...
Novogratz Expects Bitcoin Price to Be ‘Significantly Higher’ After SEC Approves Spot Bitcoin ETFs
2.12.2023
Galaxy Digital CEO Mike Novogratz expects the price of bitcoin to be significantly higher when the U.S. Securities and Exchange Commission (SEC) approves spot bitcoin exchange-traded funds (ETFs). “We will see a pretty successful shift of psychology … when the government says ‘you...
Ripple’s CLO Says SEC Is Anything But Infallible — Advises ‘Don’t Be Intimidated When They Come Knocking’
2.12.2023
Ripple’s chief legal officer says the U.S. Securities and Exchange Commission (SEC) is “anything but infallible,” emphasizing that the regulator is “bloated, broken, and beleaguered.” He advised investors not to be intimidated when having to deal with...
Treasury Asks Congress for More Authorities to Go After Illicit Actors in Digital Asset Space
1.12.2023
The U.S. deputy secretary of the Treasury has revealed that the Treasury Department has asked Congress for more tools and authorities “to go after illicit actors in the digital asset space.” Moreover, he stressed: “We need to update our illicit finance authorities to match...
Binance's Future and Other Questions Post-Settlement
29.11.2023
Binance is paying literally billions of dollars and giving the U.S. government unfettered access to its books, while its founder and former CEO Changpeng Zhao is looking at maybe a year and a half in federal prison. But Binance the exchange is still operating, while federal prosecutors...
SEC Scores ‘Huge Victory’ in Binance-DOJ Settlements, Former SEC Official Says
25.11.2023
The U.S. Securities and Exchange Commission’s former head of internet enforcement has detailed why the SEC is a huge winner in the Binance settlements with the U.S. Department of Justice (DOJ), the Treasury, and other federal authorities. He stressed that what Binance has agreed to could...