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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...
SEC’s Revised ‘Dealer’ Definition Sparks Concerns Over Impact on Crypto Innovation
13.2.2024
The U.S. Securities and Exchange Commission (SEC) has adopted rules to require firms that act like dealers to register with the Commission. A lawyer explained that the securities regulator took a shot at decentralized finance (Defi) with the rules, which explicitly target decentralized...
Nigeria Faces Pressure to Tighten Crypto Regulations for Financial Crime Prevention
12.2.2024
Nigeria faces calls to go further in its efforts to clarify crypto regulation after a blockchain firm successfully finished training its fifth cohort of crypto compliance specialists last weekend. Blockchain intelligence service provider A&D Forensics teaches a course on curbing financial...
Expert Calls for Full Cryptocurrency Regulation in Nigeria to Mitigate Digital Asset-Related Financial Crimes
12.2.2024
Nigeria must fully regulate crypto activities if it wants to curb financial crimes associated with digital assets, a forensic expert has said. The co-founder of A&D Forensics also called on Nigeria to enact laws that would mandate banks to vet service providers before granting them account...
Australian Court Dismisses Allegations Against Block Earner’s DeFi “Access” Service
12.2.2024
An Australian court has dismissed allegations relating to Block Earner’s DeFi “Access” service in a legal case brought by the Australian Securities and Investments Commission (ASIC). Justice Ian McNeil Jackman, who presided over the case, has delivered a split decision regarding...
Treasury’s Yellen: More Power Needed to Counter Crypto Use by Terrorist Groups
9.2.2024
U.S. Treasury Secretary Janet Yellen has expressed the need for increased authority within the Treasury Department to address the alleged utilization of crypto by terrorist groups. Senator Sherrod Brown, known for his role in shaping crypto legislation, questioned Yellen about the necessary updates...
Kraken Obtains VASP Registration From Dutch Central Bank
8.2.2024
Crypto exchange Kraken was granted a virtual asset service provider (VASP) registration from the Dutch Central Bank today. Kraken announced the acquisition of its fourth European VASP license, which will make its services available to customers in the Netherlands. Another milestone in our European...
Why Europe’s MiCA Raises the Barrier to Entry for Stablecoin Issuers
8.2.2024
The Markets in Crypto Assets Regulation (MiCA), due to take effect this year, is the European Union’s comprehensive crypto law. The legislation promises legal certainty, compliance challenges and global implications. MiCA’s primary goal will be to establish a unified rulebook for regulating...
US Lawmakers Press Treasury Secretary Janet Yellen on Crypto Oversight Gaps
8.2.2024
Four U.S. lawmakers have pressed Treasury Secretary Janet Yellen regarding crypto oversight gaps. The Financial Stability Oversight Council (FSOC), which Yellen chairs, has issued “repeated warnings about the lack of oversight of the digital asset markets,” the lawmakers detailed...
SEC Delays Decision on Invesco and Galaxy Digital’s Spot Ether ETF
8.2.2024
The United States Securities and Exchange Commission (SEC) has delayed its ruling on the Invesco Galaxy ether exchange-traded fund (ETF), and has now been pushed to potentially July 2024 after opening the proposal to public comments. Invesco and Galaxy Spot Ethereum ETF Decision Delayed by SEC...
Illicit Virtual Asset Use On The Rise, U.S. Treasury Report Reveals
7.2.2024
The U.S. Treasury Department is seeing an increase in illicit crypto use according to a Thursday report. The department’s 2024 National Risk Assessments on Money Laundering, Terrorist Financing, and Proliferation Financing report highlights that virtual assets are increasingly used by illicit...
DeFi Shouldn't Have to Worry About the SEC’s Expanded Broker Rule
7.2.2024
European Markets Org Praises Bank of England On UK Stablecoin Rules
7.2.2024
Today, the Bank of England extended the deadline for citizens to provide feedback on its proposed regulatory regime for UK stablecoins from February 6 to February 12. The central bank’s discussion paper focused on rules for sterling-denominated stablecoins, which it believes are the most likely...
South Korea Imposes Stricter Punishments For Crypto Trading Offenses
7.2.2024
South Korea’s financial regulators have slated July 19 for the implementation of the Virtual Asset User Protection Act and the Virtual Asset Industry Supervision Regulations. According to local media outlets, The Financial Service Commission (FSC) disclosed on Feb 7 the date for both regulations...
B2C2 Secures VASP Registration Ahead of MiCA Implementation
7.2.2024
UK-based digital asset liquidity provider B2C2 has secured a virtual asset service provider (VASP) registration expanding its operations to Luxembourg ahead of new rules being implemented in Europe. The Markets in Crypto Assets Regulation (MiCA), due to take effect this year, is the European...
Vast Bank Withdraws From Cryptocurrency Sector, Shuts Down Mobile App
7.2.2024
Vast Bank, the U.S. financial institution that once offered customers the unique ability to manage cryptocurrencies alongside traditional banking, is exiting the digital asset space and shutting down its crypto mobile app in response to a consent order from the Office of the Comptroller of...
US and UK Financial Regulators Discuss Effective Crypto Oversight
7.2.2024
The U.S. and U.K. Financial Regulatory Working Group has emphasized the importance of effective regulation and oversight of crypto assets and markets. They also reiterated their support for the international work on crypto assets. US-UK Financial Regulatory Working Group Discusses Crypto Regulation...
South Korean Regulator Plans to Discuss Crypto Rules With US SEC Chair Gary Gensler
7.2.2024
South Korea’s financial watchdog chief is planning to visit the U.S. to discuss crypto regulation with the chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, with a focus on the SEC’s recent decision to approve spot bitcoin exchange-traded funds (ETFs)....
The Big Misunderstanding: What MiCA Really Means for Stablecoins in Europe
6.2.2024
The EU's comprehensive crypto guidance does not introduce entirely new regulations for fiat backed stablecoins, former central banker Jón Egilsson writes. Instead it affirms existing rules that many current issuers are not yet following
Treasury Secretary Yellen Says U.S. Needs Better Stablecoin Regulation
6.2.2024
"A federal regulator should have the ability to decide if a stablecoin issuer should be barred from issuing such an asset," she told lawmakers on Tuesday