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Crypto Regulation News Weekly Digest: Major Nations Commit to Crypto Tax Reporting Standard and EU Issues Draft Stablecoin Guidelines
14.11.2023
Nations and authorities advance crypto regulations across taxation, stablecoins, geo-blocking, and compliance this week. Image by motortion, Adobe Stock. Last week brought several noteworthy developments in the evolving crypto regulation scene across the globe. Major nations made efforts towards...
Hodlnaut heading for liquidation after failure of restructuring, sale efforts
10.11.2023
Recovery from the crypto winter is proceeding, but Hodlnaut won’t survive it. A sealed court order in Singapore appears to spell its doom
UBS Allows Crypto ETF Trading for Select Hong Kong Clients
10.11.2023
Source: AdobeStock / lenscap50 UBS Group AG has joined rivals such as HSBC Holdings Plc, in extending an invitation to select clients in Hong Kong to trade specific crypto-linked exchange-traded funds (ETFs). The decision aligns with Hong Kong’s recent efforts to establish itself as...
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...
SEC’s Efforts to Hire Crypto Experts Thwarted by Own Crypto Ownership Policy
7.11.2023
SEC policies against staff owning crypto make hiring industry specialists difficult. Image by Kristina Blokhin, Adobe Stock. The U.S. Securities and Exchange Commission (SEC), known for its stringent regulatory oversight of the finance sector, is facing an ironic hurdle as its own policies...
Senator Ted Cruz Now Accepts Campaign Donations in Bitcoin
7.11.2023
Image Source: Pixabay Senator Ted Cruz (R-TX) has revealed his decision to accept Bitcoin ( BTC) as part of his campaign fundraising efforts. “I am bullish on bitcoin, and I’m proud to accept bitcoin campaign donations,” he said in a recent interview with Forbes. Cruz’s...
Swiss National Bank Launches Wholesale CBDC in Partnership With Six Commercial Banks
2.11.2023
The Swiss National Bank (SNB) is ramping up its efforts on the issuance of a wholesale central bank digital currency (wCBDC). According to a press release, the Swiss central bank is collaborating with six commercial banks and the SIX Digital Exchange (SDX) to fast-track the implementation of...
Thailand’s K-Bank Acquires 97% Stake in Parent Company of Satang Crypto Exchange
30.10.2023
Thailand’s second-largest bank, Kasikorn Bank, widely known as K-Bank, has acquired a 97% stake in the parent company of the established Satang crypto exchange. This strategic acquisition comes as K-Bank intensifies its efforts in the cryptocurrency sector, aiming to offer a comprehensive...
US Deputy Treasury Secretary Implies Some Crypto Firms Refuse to Stop Illegal Fund Movements
27.10.2023
The US government is increasing its efforts to combat cryptocurrency criminal funding, especially in response to terrorist attacks in Israel. The world’s largest economy has expressed concerns that some crypto firms are not doing enough to prevent illegal funds flowing to bad actors. Speaking...
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...
Sam Bankman-Fried May Testify to Role of Lawyers, 'Good Faith' Efforts, Filing Says
26.10.2023
In a series of filings throughout Thursday, the Department of Justice and Sam Bankman-Fried's defense crossed swords on issues ranging from charts the defendant wants to use in his testimony to an ongoing question of whether the defense can rely on a presence of counsel argument
Vodafone and Chainlink Collaborate on Blockchain-Enabled Proof of Concept for Global Trade
25.10.2023
Vodafone’s Digital Asset Broker (DAB) announced on Tuesday a collaborative proof of concept with Chainlink Labs, Sumitomo Corporation, and InnoWave. The initiative’s goal is to tackle existing obstacles in the $32 trillion global trade ecosystem. The partners revealed their efforts...
Argentina’s Central Bank Kicks off Efforts Toward Digital Peso Bill
20.10.2023
Much has been said about the potential Central Bank Digital Currency (CBDC) of Argentina in recent times following a suggestion by Economic Minister Sergio Massa to utilize the technology for fiscal growth.
The Central Bank of Argentina has revealed plans to push for the implementation of...
Bitcoin Price Prediction: BTC Surges 9%; BlackRock & Grayscale Boost ETF Efforts
20.10.2023
Despite a challenging day for the crypto market, Bitcoin price remained steadfast above the $29,000 threshold. This stability can likely be attributed to Fidelity's recent modifications to its Bitcoin ETF proposal.
Within these changes, Fidelity delineated its strategies to safeguard customer...
Fidelity Submits Updated Spot Bitcoin ETF Application
19.10.2023
Fidelity has submitted an updated proposal for a spot bitcoin exchange-traded fund (ETF) to the U.S. Securities and Exchange Commission (SEC). The asset manager joins other applicants in continued efforts to address regulatory concerns that have stood in the way of approving the investment product....
Coinbase lobbying efforts face setback from Hamas’ crypto use: Berenberg analysts
18.10.2023
Reports of Hamas using crypto to fund recent attacks in Israel could make Coinbase’s lobbying efforts more difficult, says Berenberg lead analyst Mark Palmer
US Spy Agency Plans to Launch Generative AI Tool to Amplify Intelligence Gathering
29.9.2023
Reports indicate that the U.S. Central Intelligence Agency is poised to unveil a generative artificial intelligence (AI) tool, akin to Openai’s Chatgpt, to significantly enhance investigative efforts. Randy Nixon, the head of the CIA’s Open-Source Enterprise division, explained that this...
U.S. Shutdown, Assuming It Doesn’t Run Long, Will Slow, Not Cripple Crypto Efforts
25.9.2023
The crypto industry’s business in Washington is coming to a head just as a looming congressional budget impasse could shut down an array of federal services next week. But the digital assets sector can expect its most important matters won’t go entirely dark, experts suggest, even if they’re...
Terra Classic Community Votes to Stop USTC Minting as Revival Efforts Continue
25.9.2023
TerraUSD Classic, the stablecoin at the center of Terra’s implosion, will no longer be minted
Crypto Exchange Bybit Suspending Services in UK to Comply With New Regulations
25.9.2023
Cryptocurrency exchange Bybit is suspending services in the U.K. next month in order to comply with the new rules set by Britain’s top financial regulator, the Financial Conduct Authority (FCA). “The suspension will allow the company to focus its efforts and resources to best meet...