Search
Paypal Pauses UK Crypto Purchases Amid Regulatory Changes; Assures Resumption in Early 2024
16.8.2023
In recent communications to its U.K. clientele, Paypal has announced a temporary suspension of cryptocurrency purchases starting October 1, 2023, with plans to resume in early 2024. Notably, even amidst this hiatus, users can continue to hold their crypto within the Paypal ecosystem and are free...
Singapore Announces Stablecoin Rules, MAS to Label Regulated Tokens
16.8.2023
The Monetary Authority of Singapore (MAS) unveiled regulations aimed at ensuring the value stability of each stablecoin regulated in the city-state. Under the new rules, issuers that want their fiat-pegged tokens to be labeled as “MAS-regulated” will have to meet certain requirements. Singapore...
Singapore's Central Bank Releases Stablecoin Regulatory Framework
15.8.2023
Stablecoins must hold minimum base capital 1 million Singapore dollars ($740,000) and provide redemption within no more than five business days of a request
Singapore central bank releases regulatory framework for stablecoins
15.8.2023
The framework outlines requirements for stablecoin issuers to meet to be deemed as regulated by the Monetary Authority of Singapore
Blockchain․com Obtains Payment License in Singapore
9.8.2023
Crypto company Blockchain․com has been granted a payment license in Singapore that will enable it to provide regulated services for digital assets. The authorization in the city-state, which is a major trading hub for the platform, is part of its efforts to comply with local regulations in...
Coinbase Urges Court to Dismiss SEC Case, Claiming Regulator ‘Overstepped’ Its Statutory Authority
4.8.2023
In a motion for judgment filed on August 4, Coinbase hit back against the SEC’s lawsuit alleging it facilitated unregistered trading of securities, arguing the agency lacks authority to regulate digital assets in this way. Coinbase Fights Back Against SEC’s Crypto Exchange Lawsuit In...
Hong Kong's New Crypto License Could Cost Exchanges a Pretty Penny
4.8.2023
The city’s new licensing regime paves the way for exchanges to operate legally but tough compliance requirements could cost firms as much as $20 million, industry insiders say
Binance Obtains Dubai License to Provide Crypto Exchange Services
2.8.2023
The world’s largest cryptocurrency exchange, Binance, has received a license to operate in Dubai as a regulated platform. The authorization will allow the crypto giant to offer exchange and other services for virtual assets to institutional and qualified retail investors. Dubai Virtual Assets...
HSBC-Owned Hang Seng Bank Limits Crypto Companies to ‘Simple’ Accounts: Report
31.7.2023
The report comes as Hong Kong’s Monetary Authority (HKMA) reminds banks that there is no ban on offering crypto companies accounts
EU Stablecoin Issuers With Bank Assets in Reserve Will Get Extra Regulation, EBA Draft Says
24.7.2023
The EU agency is consulting on new MiCA rules that mean “significant” tokens are centrally supervised with extra capital requirements
Kuwait Capital Markets Authority Reaffirms Comprehensive Crypto Asset Ban
20.7.2023
In a circular released by the Capital Markets Authority of Kuwait, the regulator reaffirmed its position that Kuwait strictly prohibits the use of virtual currencies and bans mining activities within the Gulf state. The authority also emphasized the importance for businesses to inform customers...
China’s digital yuan nears $250B transaction volume: Central bank governor
20.7.2023
While the adoption and use cases of China’s e-CNY are expanding, the digital yuan still only represents 0.16% of China’s monetary supply
UK FCA Chief Warns Against Judging Crypto Firms by Size for Approval Decisions
19.7.2023
The FCA has turned down some of the largest crypto firms in the world in the last 18 months, its CEO Nikhil Rathi told lawmakers at a hearing
Even Unpaid Social Media Crypto Promotions May Breach UK Ad Rules: Financial Regulator
18.7.2023
The Financial Conduct Authority (FCA) gained oversight of crypto promotions with the approval of the Financial Services and Markets Act in June
Activision Set To Become Part Of Microsoft After FTC's Last-Ditch Effort Fails
15.7.2023
The U.S. Ninth Circuit Court of Appeals has denied the Federal Trade Commission’s final request to pause Microsoft’s takeover of Activision Blizzard, likely paving the way for the biggest-ever merger in gaming to finally move forward after a more than year-long regulatory saga. Read more
Only One Thing Still Stands In The Way Of Microsoft's Activision Takeover
12.7.2023
Microsoft’s deal to buy Activision Blizzard for $69 billion is closer than ever to becoming a reality after the companies defeated the Federal Trade Commission in court this week. While the FTC can still appeal, all eyes now turn back to regulators in the UK, that last thorn in the tech giant’s...
Report: South Africa Regulator Says Unlicensed Crypto Exchanges in 2024 May Be Closed Down
6.7.2023
According to the regulator of the South African financial services industry, cryptocurrency exchanges based in the country must secure operating licenses before the year ends. Crypto exchanges that fail to abide by the requirement will either be fined or closed down, Unathi Kamlana, the Financial...
Saxo Bank Ordered to Liquidate Its Portfolio of Crypto Assets by Danish Financial Regulator
6.7.2023
According to a July 4, 2023 press release from the Danish Financial Supervisory Authority, Denmark’s Saxo Bank has been instructed to liquidate its holdings of cryptocurrency assets. The financial regulator maintains that Saxo Bank’s portfolio of crypto assets falls “outside...
Israeli Lawmakers Support Axing Crypto Capital Gains Tax for Foreigners
5.7.2023
A bill exempting foreign residents from capital gains taxes on crypto sales, and lowering tax on stock-options-like crypto options for employees has passed a preliminary reading in the Knesset
Singapore's MAS Orders Crypto Firms to Keep Customer Assets in a Trust by Year-End
3.7.2023
Crypto service providers in Singapore are now required to safekeep customer assets under a statutory trust before the end of the year