IMF MD asks for global preparation for central bank digital currencies (CBDCs) IMF’s Georgieva urges global readiness for CBDCs at Singapore FinTech Festival. CBDCs are a potential cash replacement, enhancing resilience, and promoting financial inclusion. IMF introduces CBDC handbook and acknowledges BIS’s role in global digital finance experiments. In a compelling address at the Singapore FinTech Festival, International Monetary Fund (IMF) Managing Director Kristalina Georgieva urged nations […]
UK publishes proposals on stablecoin regulation, outlines FCA’s regime The HM Treasury today published a policy update to the country’s crypto regulation. In it, the UK government has outlined the FCA’s regime in stablecoin regulation. The Bank of England (BoE) and the Payment Systems Regulator (PSR) will also have a role. The UK government has published a policy update outlining a phased regulation of […]
New York AG sues Gemini and Genesis for alleged $1 billion fraud The New York Attorney General Letitia James filed the lawsuit against Gemini, Genesis and DCG on Thursday. It’s alleged the crypto firms lied to investors and concealed losses of over $1 billion. New York Attorney General Letitia James has sued Gemini, Genesis Global Capital and Digital Currency Group over allegations that the crypto companies defrauded […]
Nomura Bank’s Laser Digital receives approval for operations in Abu Dhabi Key takeaways Laser Digital can now operate in Abu Dhabi Laser Digital, the digital assets arm of Japan’s Nomura Bank, has received in-principal approval to provide broker-dealer services and asset/fund management services in Abu Dhabi. #ADGM is proud to announce that @LaserDigital_ has received an In-Principle Approval (IPA) from the ADGM Financial Services Regulatory Authority […]
SEC delays decision on ARK Invest Bitcoin ETF The SEC has delayed its decision on the ARK 21Shares Bitcoin ETF decision to early 2024. Also delayed is the Global X Bitcoin Trust application. Analysts expect the regulator to delay other proposals amid the likelihood of a US government shutdown. The Securities and Exchange Commission (SEC) has yet again delayed a decision on the […]
Taiwan releases new guidelines for crypto exchanges Taiwan’s regulator, the Financial Supervisory Commission (FSC) has announced new guidelines for virtual asset service providers (VASPs). The agency published the VASP guidelines on Tuesday, which includes exchange registration, segregation of customer funds and prohibition of certain products. Taiwan’s financial regulator, the Financial Supervisory Commission, has released new guidelines aimed at streamlining the crypto exchange […]
Coinbase secures registration with the Bank of Spain Coinbase’s registration with the Bank of Spain marks a significant stride in its mission to provide secure and compliant crypto services to users worldwide. The registration allows Coinbase to offer our full suite of products and services to retail and institutional users in Spain. Spain is a member of the EU which recently adopted the […]
Binance could delist multiple stablecoins as MiCA takes effect next year Key takeaways Binance to delist multiple stablecoins A Binance executive has warned that the cryptocurrency exchange could delist multiple stablecoins from its platform. The delisting could happen as the cryptocurrency exchange attempts to decipher the implications of the EU’s Markets in Crypto Assets (MiCA) regulation. At the moment, it is still unclear how MiCA will […]
New UK bill to seize stolen crypto reach final approval stage Key takeaways The UK government could seize stolen cryptocurrencies A bill that seeks to expand the ability of UK authorities to target illicit cryptocurrency usage has been passed for approval by the House of Lords. The bill, dubbed the Economic Crime and Corporate Transparency Bill, was introduced a year ago. The bill seeks to tackle […]
Hong Kong warns crypto firms against referring to themselves as “banks” Hong Kong warns crypto firms against using the word “bank” The Hong Kong Monetary Authority (HKMA) says only licensed banks can take “deposits.” Using terms such as digital bank, crypto bank and crypto asset bank contravenes the Banking Ordinance. The Hong Kong Monetary Authority (HKMA) has warned crypto firms that it’s against the law for […]
Japan eases regulations on startup financing to allow for crypto Japan eyes support for crypto startups in new regulation on startup financing. According to reports, the new rules means startups can raise funds from investors by offering stocks and crypto. Japan is looking to relax restrictions on how startups raise funds with a view to revamping the sector amid growth in venture capital funding. According […]
SEC charges Stoner Cats NFT creator with unregistered securities offer SEC says Stoner Cats 2 LLC raised $8 million from investors by offering unregistered securities of NFTs. Stoner Cats will refund the money to investors and pay a $1 million fine. SEC recently charged Impact Theory over allegations of similar violations. The Securities and Exchange Commission (SEC) has charged Stoner Cats 2 LLC over an […]
India embarks on crafting crypto regulations after ruling out ban India was long thought to be planning a complete ban on cryptocurrencies. However, in the just concluded G20 Summit, India joined other G20 nations to support IMF-FSB joint recommendations for cryptocurrency guidelines. Crypto investors in India can now breathe a sigh of relief as they wait for the crypto framework. Based on the combined recommendations […]
CFTC fines Utah man over $2.5M for leveraged Bitcoin fraud CFTC announced Jacob Orvidas had conducted a leveraged Bitcoin fraud between October 2017 and July 2020. Orvidas was also charged for failing to register as a commodity pool operator. The CFTC order imposed a $2 million restitution and $500,000 civil monetary penalty. In regulation news today, the Commodity Futures Trading Commission (CFTC) has fined Jacob […]
Binance becomes first exchange to secure operational MVP license in Dubai Binance announced on Monday it had received the Operational Minimum Viable Product (MVP) license issued by Dubai’s Virtual Assets Regulatory Authority (VARA). The exchange secured the landmark license via its subsidiary Binance FZE. Binance will now offer cryptocurrency exchange services to qualified institutional and retail customers. Binance has become the first cryptocurrency exchange to secure […]
Vladimir Putin signs Russia’s digital ruble bill into law The digital ruble bill was passed by the lower and upper parliaments before the president signed it into law. Russia is following in the footsteps of its neighbour, China, which is way ahead with its digital Yuan project. The use of the digital ruble will be a voluntary choice for Russian citizens. According to an […]
Judge orders Ripple, SEC to agree to possible settlement dates US Judge Analisa Torres referred Ripple vs. SEC case to Magistrate Judge Sarah Netburn. Last week’s ruling was that XRP was not a security. The Ripple vs. SEC case continues but Judge Netburn has suggested both Ripple and SEC can agree to possible settlement conference dates if they believe it to be “productive” at this […]
Former SEC Chair says Bitcoin ETF approval ‘hard to resist’ Jay Clayton shared his opinion during an interview with CNBC on Monday. The former SEC chair says if applicants demonstrate efficacy and have surveillance, it would be hard for the SEC to deny a spot Bitcoin ETF. BlackRock, Fidelity and others have market surveillance agreements with Coinbase. The US Securities and Exchange Commission (SEC) has […]
Australian regulator searched Binance Australia’s offices Key takeaways ASIC searched Binance Australia’s offices The offices of Binance Australia, the Australian arm of Binance, were searched on Tuesday by the country’s financial markets regulator. This latest cryptocurrency news comes as governments around the world are scrutinising the cryptocurrency exchange’s activities. According to a Bloomberg report, the Australian Securities and Investments Commission searched several […]
North Carolina lawmakers approve bill seeking study on state adoption of Bitcoin The “State Precious Metals Depository Study” bill received bipartisan support and passed 75-38. North Carolina could look into adding Bitcoin to its State Treasury if the bill is passed. In May, the house voted for another bill that seeks to ban CBDCs in the state. North Carolina’s lower house has passed a bill that could […]
