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US Treasury to Discuss Crypto Finance Concerns at Congressional Hearing
14.2.2024
The United States Treasury is gearing up to address Congress on the emerging challenges posed by cryptocurrencies to existing financial regulatory frameworks. In his prepared testimony for the House Financial Services Committee, Brian Nelson, Treasury’s Under Secretary for Terrorism...
Ripple to Buy New York Crypto Trust Company to Expand U.S. Options
13.2.2024
Ripple struck a deal to acquire Standard Custody & Trust Co., the company said Tuesday, in order to secure a New York trust charter in an ongoing expansion of its U.S. regulatory licensing
Blockchain Association Warns Warren’s Anti-Crypto Legislation Threatens US Jobs and Strategic Advantage
13.2.2024
The Blockchain Association has sent a second letter to the House Financial Services Committee and Senate Banking Committee expressing concerns over a bill sponsored by Senator Elizabeth Warren. The legislation, titled the Digital Asset Anti-Money Laundering Act of 2023 (DAAMLA), has garnered...
Philippines Central Bank Eyes Bank-Mediated Non-Blockchain CBDC in Next Two Years
12.2.2024
Governor Eli Remolona of the Philippines Central Bank (BSP) has disclosed the central bank’s plans to introduce a wholesale central bank digital currency (CBDC) in the coming years. The Bangko Sentral ng Pilipinas (BSP) is optimistic about the ongoing growth of digital payment technologies...
Australian Federal Court Rules Against Block Earner for Unlicensed Financial Services Conduct
9.2.2024
An Australian federal court has determined that fintech company Block Earner engaged in unlicensed financial services conduct by offering its crypto-backed Earner product. The Federal Court finds fintech company Block Earner engaged in unlicensed financial services conduct when offering...
WeMade Crypto Blow as South Korean Regulators Probe Game Maker’s ‘Unregistered Sales’
9.2.2024
The South Korean game maker WeMade crypto project suffered a blow on February 8 as regulators launched a probe into suspected “unregistered” sales on WEMIX platforms. Maeil Kyungjae reported that the Financial Intelligence Unit (FIU), which reports to the Financial Services Commission,...
Hong Kong Seeks Input on OTC Crypto Trading Rules
8.2.2024
Hong Kong on Thursday announced a consultation on regulating over-the-counter (OTC) crypto trading. The Financial Services and the Treasury Bureau consultation seeks to establish a conceptual framework for licensing virtual asset OTC services. Under the regime, operators would be mandated to obtain...
Japan’s Financial Services Agency Grants Limited Rights to DAO Member Tokens, Easing Regulations
7.2.2024
Japan‘s Financial Services Agency (FSA) aimed to facilitate the development of decentralized autonomous organizations (DAOs) and clarify the legal framework surrounding them. The FSA has proposed a new amendment to the definition of Article 2 of the Financial Instruments and Exchange Act in...
WisdomTree ‘Very Close’ to Securing New York License for Crypto Services: Fox Business
6.2.2024
WisdomTree, known for its spot Bitcoin exchange-traded fund (ETF), is reportedly finalizing efforts to secure a license from the New York Department of Financial Services (NYDFS). WisdomTree to Get Limited Purpose Trust Charter According to Fox Business reporter Eleanor Terrett, the NYDFS is nearly...
Janet Yellen Calls for Crypto Regulation in Congressional Testimony, Citing Financial System Risks
6.2.2024
Treasury Secretary Janet Yellen, in her forthcoming appearance before the House Financial Services Committee, is set to emphasize the potential dangers the cryptocurrency industry presents to financial stability, advocating for legislative action to regulate digital assets effectively. Treasury...
US Treasury Secretary Yellen Highlights Crypto Risks, Urges Legislation
6.2.2024
U.S. Treasury Secretary Janet Yellen, leading the Financial Stability Oversight Council, addressed lawmakers about the risks cryptocurrencies pose to the U.S. financial system and called for regulations. During the presentation to the House Financial Services Committee, Yellen detailed concerns...
South Korea’s Financial Services Commission Proposes Regulatory Approval Requirement for Crypto Executives
5.2.2024
South Korea’s financial regulator has put forward new amendments that would require regulatory approval for new executives joining cryptocurrency companies. In an official announcement, the Financial Services Commission (FSC) said it aims to address the existing pain points in the current...
Britain’s Former Finance Minister George Osborne Joins Coinbase’s Global Advisory Council
3.2.2024
Britain’s former chancellor of the exchequer, George Osborne, joins Coinbase’s global advisory council. Osborne becomes the latest high-profile politician to join the crypto exchange’s advisory council. The former finance minister has said he is looking forward to working with...
Hong Kong Set To Release Consultation on Regulatory Framework for OTC Crypto Platforms
2.2.2024
Hong Kong will publish a consultation on a proposed regulatory framework for over-the-counter crypto trading platforms “very soon,” according to a February 2 blog post. Secretary for Financial Services and the Treasury Christopher Hui warned the public of the risks of over-the-counter venues, given...
House Financial Services Committee Members Demand More Time to Debate New Digital Payment Proposal
2.2.2024
Leading members of the U.S. House Financial Services Committee, Chairman Patrick McHenry, Subcommittee Chairman French Hill, and Representative Mike Flood, have requested an extension of the public comment period for the CFPB’s proposed rule on digital consumer payment applications. This...
US Representative French Hill Optimistic on Progress of Crypto Legislation
31.1.2024
During a panel discussion at the recent Foundation for Defense of Democracies event, Arkansas Republican French Hill shared a positive update on the trajectory of the Financial Innovation and Technology for the 21st Century Act and the Clarity for Payment Stablecoins Act. US Representative French...
Transak Partners With Visa for Rapid Crypto to Fiat Conversion in 145 Nations
30.1.2024
On Tuesday, Transak, a company specializing in payment infrastructure, revealed its partnership with the financial services powerhouse Visa. This collaboration aims to empower users in 145 nations with the capability to seamlessly exchange their crypto holdings into local fiat currencies...
Rep. French Hill Voices Optimism for Crypto Legislation Progress in 2024
30.1.2024
U.S. House Representative and Financial Services Subcommittee on Digital Assets Chair French Hill (R-AR) has voiced optimism about the progress of cryptocurrency legislation in 2024. During an event hosted by the Foundation for Defense of Democracies on Jan. 29, Hill discussed the crypto...
Hong Kong to Strenghten OTC Crypto Market Regulation
29.1.2024
Hong Kong will now focus on regulating over-the-counter (OTC) cryptocurrency trading, according to local sources. Under Secretary for Financial Services and the Treasury Joseph Chan Ho-lim stated that the government will aim to mitigate the risks of virtual assets amidst the rising interest...
Analysts Suggest Financial Giant Charles Schwab Poised to Shake Up Bitcoin ETF Market With Potential Late Entry
27.1.2024
In the wake of a noteworthy 11-day period during which U.S.-centered spot bitcoin exchange-traded funds (ETFs) amassed a trading volume totaling $25.36 billion, discussions have emerged about the potential involvement of Charles Schwab, the American multinational financial services corporation....