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EU Provisional Agreement: Crypto Asset Service Providers Added to Obliged Entities List
19.1.2024
As per the provisional agreement struck between the European Union Council and Parliament, crypto asset service providers will be obliged to verify facts and information on users whose transactions exceed $1,090. According to the Belgian Finance Minister, the new requirements will “ensure...
Crypto Exchange Gemini Secures Registration in France — Now Operational in Over 70 Countries
19.1.2024
Cryptocurrency exchange Gemini is now registered as a digital asset service provider in France. The crypto firm explained that following the launch of its EU headquarters in Ireland in 2022, “Gemini is now operational in more than a dozen EU countries and more than 70 countries worldwide...
Donald Trump Promises to Block Digital Dollar Creation — Calls CBDC ‘Dangerous Threat to Freedom’
19.1.2024
Former U.S. President Donald Trump has promised to stop the creation of a U.S. central bank digital currency (CBDC) if he is elected president of the United States. He explained that a digital dollar would give the federal government “absolute control over your money,” warning that...
Crypto for Advisors: The Regulators are Here
18.1.2024
As the crypto industry matures, regulators have indicated they will continue to focus on crypto after the spot bitcoin ETF approvals
IRS Delays Enforcement of Digital Asset Reporting Rules, Awaiting Regulations
18.1.2024
On Tuesday, the U.S. Internal Revenue Service (IRS) and Treasury provided transitional guidance on digital asset reporting, postponing enforcement pending regulation issuance. IRS Temporarily Halts Enforcement of Digital Asset Reporting The U.S. Treasury Department and the Internal Revenue Service...
Thailand’s SEC Eases Investment Restrictions in Select Digital Assets
18.1.2024
The Securities and Exchange Commission (SEC) of Thailand has updated the criteria for investing in digital tokens, easing some restrictions. In a meeting held on March 2, 2023, the SEC Committee approved the principles for improving investment criteria and related criteria for digital asset...
IRS Halts Enforcement of $10K Crypto Tax Reporting Rule Pending Further Regulation
17.1.2024
Source: Adobe / dennizn The US Treasury Department and Internal Revenue Service (IRS) have announced that businesses are not required to report the receipt of digital assets in the same manner as cash until specific regulations are issued. The decision by the two federal agencies comes in response...
South Korea Mulls Issuing Crypto Mixing Regulations to Curb Money Laundering
17.1.2024
Financial authorities are preparing to issue cryptocurrency mixing-specific regulations in South Korea to stop criminal groups from using these tools to launder funds obtained illegally. The Korean authorities are discussing whether to allow virtual asset service providers (VASPs) to reject...
Ripple CEO Blasts Gary Gensler as ‘Political Liability’ — Says New SEC Chair Will Be Good for the American People
17.1.2024
The CEO of Ripple, Brad Garlinghouse, has slammed the chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, as a “political liability.” Emphasizing that Gensler is not acting in the interests of the people or the long-term growth of the economy, the Ripple executive said:...
Russian Central Bank ‘Turning a Blind Eye’ to Crypto-powered Trade – Senator
17.1.2024
Source: ulchik74/Adobe A Russian senator has claimed the nation’s Central Bank is “turning a blind eye” to firms that use crypto as a payment tool in international trade. Russia’s CoinSpot quoted Ivan Abramov, the First Deputy Chairman of the Federation Council Committee...
South Korean Bankruptcy Court Judge Calls for More Crypto Regulation
17.1.2024
Source: Valerii Evlakhov/Adobe A South Korean bankruptcy court judge has called on the government to bolster regulation in the crypto industry, claiming investors need more protection. Per Newsis, the claims were made by Judge Lee Seok-jun, of the Seoul Bankruptcy Court. Lee wrote a paper...
ESMA Unveils Plan to Address Crypto Risks Ahead of MiCA Regulation Implementation
16.1.2024
The European Securities and Markets Authority (ESMA) is actively preparing for the implementation of the Markets in Crypto-Assets (MiCA) regulation, marking a significant milestone in bringing comprehensive oversight to the digital asset space. As the ESMA prepares for the enforcement of the MiCA...
USDT at the Heart of Pig Butchering Scams Says the UN
16.1.2024
The stablecoin tether has emerged as one of the preferred payment methods for money launderers and fraudsters operating out of Southeast Asia, the findings of a new United Nations study have shown. According to Jeremy Douglas, criminals are choosing to use tether because they know that...
Ukrainian Police Collaborate With Europol to Apprehend Alleged Cryptojacking Mastermind
16.1.2024
The Ukrainian police, in collaboration with Europol, recently apprehended the alleged mastermind behind a cryptojacking scheme. According to a statement released by Europol, the arrest underscores why the private sector should collaborate with law enforcement. Law Enforcement and Private Sector...
Circle CEO Jeremy Allaire Expects US to Pass Stablecoin Legislation in 2024
16.1.2024
Circle CEO Jeremy Allaire has expressed his confidence in the United States finally passing long-awaited stablecoin legislation this year. In a recent interview with CNBC at the World Economic Forum’s annual meeting in Davos, Switzerland, Allaire said there is growing momentum in...
Apple and Google Remove Several Major Crypto Exchanges From App Stores in India Following Regulatory Crackdown
16.1.2024
Apple and Google have removed several major crypto exchanges from their app stores in India after the Indian Financial Intelligence Unit flagged nine crypto service providers as operating illegally in the country. Various telecom networks and internet service providers in India are also blocking...
SEC Chair Gary Gensler Sees Irony in Spot Bitcoin ETF Approval — ‘This Was About Centralization’
16.1.2024
U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler sees irony in the approval of spot bitcoin exchange-traded funds (ETFs). “This was about centralization and traditional means of finance,” said Gensler, warning: “Investors should be aware that this underlying asset...
IMF Chief Sees Crypto as Asset Class — Says Bitcoin Won’t Dethrone US Dollar as Dominant Currency
16.1.2024
International Monetary Fund (IMF) chief Kristalina Georgieva sees crypto as an asset class, not money. She dismissed concerns of bitcoin potentially displacing the U.S. dollar as the world’s dominant currency, citing the size of the U.S. economy and the depth and sophistication of...
South Korea Seeks Regulation Against Crypto Mixers Citing Illegal Use Cases
15.1.2024
Source: AdobeStock South Korean regulators seek to introduce new laws that would sanction the use of cryptocurrency mixers in the country to curb the rate of illicit financial activities. According to local news outlets, the Financial Intelligence Unit is considering rolling out new regulations...
Cryptocurrency Rights Bill Lands in Indiana
15.1.2024
Indiana is adding its name to the list of states that intend to guarantee the cryptocurrency rights of its citizens. A cryptocurrency bill that guarantees the non-intervention of the state government of Indiana in cryptocurrency self-custody, mining, validation, and other issues was recently...