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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
Paradigm Advocates for Prediction Markets as Hedge Against Crypto Regulatory Risks
6.2.2024
Venture capital firm Paradigm has filed a legal brief in support of the prediction market platform Kalshi, which is currently in a legal battle against the Commodity Futures Trading Commission (CFTC). In a “friend-of-the-court” brief filed recently, Paradigm, despite not being...
Hong Kong Securities Regulator Issues Warning to Unlicensed Virtual Asset Trading Platforms
6.2.2024
The region’s securities regulator has said that Hong Kong crypto investors must only use or trade on approved virtual asset trading platforms. The regulator urged crypto investors using platforms not featured on its two lists to close accounts or transfer funds to licensed entities. Verifying...
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...
Lawmaker: Lack of Russian Crypto Regulations ‘Undermines Moscow’s Anti-Sanctions Policies’
6.2.2024
A leading politician thinks insufficient Russian crypto regulation is “undermining the government’s efforts to counter” Western economic sanctions. The media outlet RBC quoted Andrei Lugovoy, the First Deputy Chairman of the State Duma’s Committee on Security and Anti-Corruption, as calling Russian...
Blockchain Basics Act Reaches Tennessee, 16 Legislatures Working on Similar Bills
5.2.2024
The Blockchain Basics Act, a bill that seeks to secure the rights of state citizens regarding cryptocurrency ownership, self-custody, and mining, has reached Tennessee. The bill, supported by the Satoshi Action Fund, was introduced to the State House by Rep. Kevin Vaughan and simultaneously to...