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South Korea Proposes Ban on Credit Card Crypto Purchases
9.1.2024
Amidst a national surge in crypto trading, South Korea’s FSC is proposing a significant change to their credit finance laws, potentially barring citizens from the use of credit cards in cryptocurrency transactions. South Korea Aims to Tighten Crypto Regulations with Proposed Credit Card...
Luetkemeyer’s Exit Sets Up Potentially Crypto-Friendly Turn in House Banking Committee
8.1.2024
Rep. Blaine Luetkemeyer’s retirement at the end of 2024 opens the door for a new era in cryptocurrency regulation, with Rep. French Hill (R-Ark.) poised to lead the charge in the House Financial Services Committee. Shift in House Financial Services Committee Leadership Could Lead to More...
Bankruptcy Move: FTX Ventures Cuts Deal with Dave for $100 Million Stake
6.1.2024
Source: Sora Shimazaki / Pexels Dave, a fintech firm specializing in financial services through its mobile application, is set to acquire a $100-million convertible promissory note previously issued to FTX Ventures, the venture capital arm of bankrupt crypto exchange FTX. The deal involves Dave...
South Korea Regulator Seeks Ban on Crypto Purchases With Credit Cards
4.1.2024
The Financial Services Commission cited concerns "about illegal outflow of domestic funds overseas due to card payments on overseas virtual asset exchanges."
South Korea Proposes Ban on Crypto Purchases with Credit Cards
4.1.2024
Source: Pixabay / viarami South Korea’s Financial Services Commission (FSC) has announced a proposal to amend its Enforcement Decree of the Credit-Specialized Financial Business Act, aiming to ban crypto purchases with credit cards. The proposed amendment plans to restrict the use of credit...
Matrixport Report Says SEC Unlikely to Approve Spot Bitcoin ETFs in January, Price to Drop Below $40,000
3.1.2024
The crypto financial services platform Matrixport has said it does not see the U.S. Securities and Exchange Commission approving any spot bitcoin exchange-traded fund in January. In its latest report, the crypto platform said it foresees the price of bitcoin dropping “back to...
Stablecoin Storm — Gemini’s GUSD Shrinks 93% Amidst Market Turbulence
3.1.2024
Over the past few years, the stablecoin market has significantly slowed, particularly since mid-2022, following the collapse of Terra’s stablecoin. Additionally, last year, the New York Department of Financial Services (NYDFS) instructed Paxos to cease the issuance of BUSD. Beyond these...
Matrixport Analysis: SEC to Reject ETF Applications in January with Final Approval Pushed to Q2 2024
3.1.2024
Source: Pixabay Cryptocurrency financial services company, Matrixport has projected a possible rejection of spot Bitcoin (BTC) ETF applications in January with final approval in the second quarter of the year. In a Jan 3 market research, the firm gave reasons why the Securities and Exchange...
Spot ETF Approvals Will See BTC Value Rising to $50,000 in January — Matrixport
3.1.2024
The expected approval of spot bitcoin exchange-traded funds (ETFs) applications by the U.S. Securities and Exchange Commission will see the top crypto asset’s price jumping to $50,000 in January, the latest market preview by Matrixport has predicted. The crypto financial services platform...
Hong Kong Regulators Unveil Public Consultation Paper on Stablecoin Regulation
28.12.2023
Hong Kong Monetary Authority (HKMA) and Financial Services and the Treasury Bureau have released a public consultation paper to gather residents’ opinions on the proposed regulatory regime for stablecoin issuers. The HKMA also announced the introduction of a sandbox arrangement whose purpose will...
Lawmaker Raises Red Flags Over Hong Kong’s Stablecoin Regulation Proposal
27.12.2023
A Hong Kong lawmaker expressed worries that new stablecoin regulations could disrupt crypto markets. Image by mehaniq41, Adobe Stock. Today, Hong Kong’s financial authorities—the Financial Services and the Treasury Bureau (FSTB) and the Hong Kong Monetary Authority (HKMA)—unveiled their plan...
Hong Kong Government Seeks Public Input on Legislation for Stablecoin Supervision
27.12.2023
Source: Pexels The Financial Services and the Treasury Bureau (FSTB), and the Hong Kong Monetary Authority (HKMA) have jointly introduced a public consultation paper outlining a legislative proposal to regulate issuers of stablecoins. This move is prompted by the increasing prominence...
US Lawmaker Spotlights Crypto Bills Approved by House Committee This Year
26.12.2023
U.S. Congressman Tom Emmer has highlighted various crypto bills that passed out of the House Committee on Financial Services this year. Among them is his appropriations amendment barring the U.S. Securities and Exchange Commission (SEC) “from using taxpayer dollars on its abusive crypto...
Paxos Receives Regulatory Approval to Expand into Solana Blockchain
22.12.2023
Source: Pixabay Paxos has announced an expansion of its stablecoin issuance to the Solana blockchain after securing regulatory approval from the New York Department of Financial Services. In a press release published Friday, the stablecoin issuer noted that the initiative is a “significant...
New York Offers New Virtual Currency Guidance
22.12.2023
On Nov. 15, 2023, the New York Department of Financial Services (NYDFS) issued new standards for virtual currency (coin) listings and delistings. These new regulations apply to Bitlicensees and limited-purpose trust companies and include business model considerations for virtual currency entities...
Galaxy Digital Seeking to Score Deals From Defunct Cryptocurrency Companies
22.12.2023
Galaxy Digital, a digital assets and blockchain financial services company, is seeking to score deals with defunct cryptocurrency companies to acquire their assets. According to reports, the company is eyeing FTX’s venture capital portfolio, which has a sizable stake in artificial...
UAE Authority Updates Anti-Money Laundering Measures to Implement FATF’s Travel Rule
21.12.2023
Image Source: Diana/Adobe Stock The Financial Services Regulatory Authority (FSRA), a financial regulatory body in the United Arab Emirates, has released an updated version of its Anti-Money Laundering (AML) and sanctions rules specifically tailored for digital assets. In an official announcement...
Last Minute Crypto Gift Ideas for Tech Natives and Newcomers
21.12.2023
Cryptocurrency is a hot topic of conversation, especially during the holidays. This is becoming the case even more so as Bitcoin gains traction. A recent report from Bitcoin financial services firm Unchained found that one in four Americans already own Bitcoin. Additional findings from Unchained...
UK Treasury Unveils Regulatory Framework for Digital Securities Sandbox
19.12.2023
Source: Pixabay The UK Treasury has revealed its regulatory framework for a Digital Securities Sandbox under the Financial Services and Markets Act. In a memo published on Monday, the UK Treasury explained that the purpose of these regulations is to establish a regulated setting, enabling both...
Tether CEO Details Partnership with FBI and Secret Service in Letter to Legislators
17.12.2023
Source: Unsplash Tether, the company responsible for the USDT stablecoin, has made public letters it sent to the U.S. Senate Committee on Banking, Housing, and Urban Affairs and the U.S. House Financial Services Committee, underscoring its dedication to security and close cooperation with...