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South Africa Added to FATF ‘Grey List’ Despite Designation of Crypto as a Financial Product
26.2.2023
In a move seen as a major setback for South Africa, the international financial watchdog, the Financial Action Task Force, announced on Feb. 24 that it had added the country to its “grey list.” Getting grey-listed by the financial watchdog potentially makes it difficult for South Africa...
Calm Before the Storm: Is UK’s Financial Watchdog Gearing Up for Enforcement Action?
17.2.2023
The Financial Conduct Authority has largely been silent while its U.S. counterparts have been busy cracking down on crypto – but it has a list of 51 unregistered firms to act on
Terraform Labs and CEO Do Kwon Charged by SEC With Multibillion-Dollar Crypto Fraud
17.2.2023
The U.S. Securities and Exchange Commission (SEC) has charged Terraform Labs and its CEO, Do Hyeong Kwon, with fraud, alleging that Kwon and his company orchestrated “a multibillion-dollar crypto-asset securities fraud.” The securities watchdog insists that Kwon raised billions from...
Crypto firms could face 2 years jail for breaching UK advertising laws
7.2.2023
Crypto firms in the United Kingdom could face some harsh punishments under the FCA's proposed financial promotions regime
Several Crypto Exchange Websites Taken Down in Kazakhstan
26.1.2023
Financial authorities in Kazakhstan have targeted at least five online platforms exchanging cryptocurrencies outside the law. Documents, computer equipment, and cryptocurrency wallets have been seized during searches in the northern part of the country. Kazakhstan’s Financial Watchdog Goes After...
Ukraine’s Financial Watchdog Reports Blocking Russian Crypto Exchanges
22.1.2023
The financial monitoring agency of Ukraine has restricted access to a number of online crypto exchangers operating out of Russia. Some of the coin trading platforms are working with sanctioned Russian banks, the regulatory body announced in a report. Ukrainian Financial Authorities Target Russian...
Germany’s Financial Watchdog Warns of ‘Godfather’ Malware Attacks on Crypto Apps
12.1.2023
The agency overseeing the financial sector in Germany has issued a warning about the ‘Godfather’ malware attacking banking and crypto applications. Hundreds of these platforms have been targeted, the regulator noted, including those operating in the Bundesrepublik. Financial Authorities Advise...
Hong Kong watchdog aims to restrict retail traders to liquid products
11.1.2023
When asked about Bitcoin or Ether, SFC executive Julia Leung Fung-yee did not respond but reiterated that “highly liquid” will be allowed
Israel’s Securities Watchdog Seeks to Regulate Crypto Assets
6.1.2023
The body overseeing the securities market in Israel is taking steps to incorporate rules for digital assets into the existing legislation. The regulator released a draft proposal to introduce the changes that would define the legal status of cryptocurrencies in the country. Amendments to Israel’s...
Israel’s Securities Watchdog Moves to Better Supervise Crypto Assets
4.1.2023
The Israel Securities Authority proposed new legal definitions for digital assets that would formally establish their government supervision – most frequently as securities
Venezuelan Banking Watchdog to Oversee Crypto Transactions to Preserve Currency Stability
30.12.2022
Sudeban, the Venezuelan banking watchdog, is currently working on a mechanism to review crypto-related transactions in real-time to control the influence these have on the stability of the exchange market. Analysts have recently linked the situation in peer-to-peer (P2P) crypto markets to...
Time for Serious Global Crypto Regulation, Germany Says
15.12.2022
Germany’s financial watchdog has issued a call for global regulation of the crypto industry in the aftermath of the FTX collapse. The hands-off approach was wrong, the head of the agency says, insisting it’s time to protect consumers as the sector expands links with traditional finance. Bafin...
US Securities Watchdog Charges Sam Bankman-Fried With Fraud Over FTX Collapse
13.12.2022
According to a statement published on Dec. 13, 2022, the U.S. Securities and Exchange Commission (SEC) has charged the disgraced FTX co-founder Sam Bankman-Fried (SBF) with defrauding investors. SEC chairman Gary Gensler explained that the U.S. financial regulator alleges that SBF “built a house...
Full Ban on Crypto in Russia Would Be Counterproductive, Rosfinmonitoring Says
11.12.2022
Russian citizens and businesses already own cryptocurrencies, which is why a complete crypto ban would be counterproductive, according to a top executive of Rosfinmonitoring, Russia’s financial intelligence agency. At the same time, the regulator supports prohibiting payments with digital coins...
US Watchdog Says Banks Shying Away from Stumbling Crypto Industry
8.12.2022
U.S. banks have been cooling off on their crypto interest since this year’s twin eruptions of Terra/LUNA and FTX, said Michael Hsu, the acting chief of the Office of the Comptroller of the Currency (OCC)
US consumer watchdog probes crypto firms over deceptive ads
6.12.2022
The Federal Trade Commission is investigating several unnamed crypto firms over possible misconduct in the advertisement of digital assets
Uzbekistan Approves Rules for Issuance and Circulation of Crypto Assets
3.12.2022
The authority responsible for crypto oversight in Uzbekistan has determined the order of issuing and circulating digital assets in the country. The main reason behind the move is to establish a mechanism that would allow local companies to attract capital through coins and tokens. Uzbekistan...
Bitcoin and Ether Are Not Securities in Belgium, Financial Regulator Clarifies
27.11.2022
Cryptocurrencies like bitcoin and ether cannot be classified as securities or investment instruments, according to a communication issued by the financial watchdog in Belgium. The authority has tried to clarify the matter, noting that the digital coins may be subject to other regulations. FSMA:...
Australia's Markets Watchdog Sues Fintech Company Block Earner
23.11.2022
Australia's markets regulator, ASIC, is suing the company for allegedly providing financial services that should be licensed, leaving "consumers without important protections."
New Council at Ukraine’s Securities Watchdog to Draft Crypto Taxation Regulations
21.11.2022
A special council under Ukraine’s securities regulator will be tasked to develop rules for crypto taxation in the country. The new body will be also responsible for coordinating the regulation of various crypto activities and adjustments to the applicable legislation. Advisory Board to Take...