Politics, Legal & Regulation

December 20, 2023 @ 10:30 pm By Omar Faridi  |  

HashKey Capital Singapore Pte. Ltd., a key player focused on the blockchain and digital asset investment space, is pleased to announce the successful acquisition of the Capital Markets Services (CMS) license from the Monetary Authority of Singapore (MAS). The CMS license, granted by the MAS,… Read More

December 20, 2023 @ 11:45 am By JD Alois  |  

IOSCO (International Organization of Securities Commissions) has shared its opinion on DeFi, or decentralized finance, by providing nine policy recommendations for regulation. DeFi is an approach to using technology to remove a central counterpart to manage transactions and services. Some blockchain proponents believe this is… Read More

December 20, 2023 @ 11:12 am By Omar Faridi  |  

In the 2023 edition of its report on corporate governance and executive compensation in listed companies, the Autorite des Marches Financiers (AMF) reviews “the regulatory developments of recent months and assesses the quality of the information published.” The AMF makes recommendations to “improve the information… Read More

December 18, 2023 @ 7:17 pm By JD Alois  |  

The Commodity Futures Trading Commission (CFTC) states that the court deciding the case against Binance and its founder Changpeng “CZ” Zhao has formalized the settlement of a $150 million civil monetary penalty personally against Zhao, and Binance to disgorge $1.35 billion of “ill-gotten” transaction fees… Read More

December 18, 2023 @ 1:33 pm By JD Alois  |  

As expected, Coinbase (NASDAQ:COIN) has filed a response to the Securities and Exchange Commission’s (SEC) decision to deny the Petition for Rulemaking commenced July of 2022 by the crypto exchange. The SEC issued a statement on the request for rulemaking this past Friday. Coinbase is… Read More

December 18, 2023 @ 9:20 am By JD Alois  |  

MiCA, or Markets in Crypto Assets, is the European Union’s rules to create an ecosystem where digital assets can innovate and evolve while providing a level of user protection. Recently, ESMA [European Securities and Markets Authority] announced a second public consultation on the implementation of… Read More

December 17, 2023 @ 5:30 pm By Omar Faridi  |  

Tether, which claims to be the largest company in the cryptocurrency industry, has made public its recent letters to the members of the U.S. Senate Committee on Banking, Housing, and Urban Affairs and the U.S. House Financial Services Committee. Last October, a letter authored by… Read More

December 17, 2023 @ 3:48 pm By Omar Faridi  |  

CoinList, a crypto-asset platform based in the US, has reportedly agreed to a settlement of $1.2 million with the US Treasury’s Office of Foreign Assets Control (OFAC) after allegations of carrying out transactions that may have violated sanctions. As mentioned in a notice that was… Read More

December 17, 2023 @ 6:17 am By Michael Wong  |  

The Association of Chief Audit Executives of Banks in Nigeria (ACAEBIN) has urged for tougher regulations in the fintech sector and the operations of Bureaux de Change. This call was made by ACAEBIN Chairman, Prince Akamadu, during the association’s 57th quarterly general meeting in Lagos…. Read More

December 16, 2023 @ 1:33 pm By Michael Wong  |  

The International Monetary Fund (IMF) Managing Director’s recent visit to Korea highlighted the urgency of establishing stringent regulations for the cryptocurrency sector. Addressing a conference in Korea, Kristalina Georgieva emphasized the critical need for robust rules in managing the risks associated with digital currencies, drawing… Read More

December 15, 2023 @ 4:13 pm By JD Alois  |  

As should come as no surprise, Coinbase (NASDAQ:COIN) is planning to quickly respond to the Securities and Exchange Commission’s (SEC) denial of their petition for rulemaking in regard to specific digital asset rules. Earlier today, CI reported that SEC Chairman Gary Gensler issued a statement… Read More

December 15, 2023 @ 11:49 am By JD Alois  |  

Today, the staff of the Securities and Exchange Commission (SEC) has issued a report that reviews the definition of an Accredited Investor. In brief, an Accredited Investor is someone who earns over $200,000 a year or has a net worth of over $1 million –… Read More

December 15, 2023 @ 11:36 am By JD Alois  |  

Earlier this morning, the Securities and Exchange Commission (SEC) issued a statement denying the petition for rulemaking commenced almost two years ago by Coinbase (NASDAQ:COIN), the largest digital asset exchange in the US. SEC Chair Gary Gensler declared, “… To the extent that crypto assets… Read More

December 15, 2023 @ 10:50 am By JD Alois  |  

Securities and Exchange Commission (SEC) Chair Gary Gensler has issued a statement on the denial of a petition pursued by Coinbase (NASDAQ:COIN) in regard to a demand to craft specific rules for digital assets. In 2022, Coinbase announced a formal petition asking the SEC to:… Read More

December 15, 2023 @ 8:43 am By Omar Faridi  |  

As expected by most crypto industry participants, the US Securities and Exchange Commission (SEC) has postponed its decision on whether to greenlight a spot Ethereum (ETH) exchange-traded fund (ETF), which had been proposed by Invesco and Galaxy Digital. As part of a December 13, 2023… Read More

December 14, 2023 @ 9:12 pm By Omar Faridi  |  

The Financial Accounting Standards Board (FASB) published an Accounting Standards Update (ASU) intended to improve the accounting for and disclosure of certain crypto assets. FASB Chair Richard R. Jones said: “The new standard responds to feedback from stakeholders of all backgrounds who indicated that improving… Read More

December 12, 2023 @ 10:07 am By JD Alois  |  

In a settlement with the State of New York, crypto exchange KuCoin has admitted that it operates a crypto trading platform that is effectively providing a service where users can buy or sell securities and commodities as defined by the State of New York. KuCoin… Read More

December 12, 2023 @ 9:44 am By Omar Faridi  |  

The Basel Committee on Banking Supervision met virtually on 5 and 7 December to discuss a range of policy and supervisory initiatives. The Committee took stock of its review of various elements of “the prudential standard for banks’ exposures to crypto-assets published in December 2022.”… Read More

December 12, 2023 @ 9:35 am By Michael Wong  |  

The State Bank of Pakistan (SBP) has launched a “regulatory sandbox” framework, issuing preliminary guidelines to foster innovation in the financial technology (Fintech) sector. This initiative, part of the central bank’s Vision 2028 strategy, aims to create a more collaborative regulatory environment for startups and… Read More

December 12, 2023 @ 9:01 am By JD Alois  |  

The UK Financial Conduct Authority (FCA) has been pounded the drums for some time now on the interest earned by consumers on cash balances held on various platforms. While interest rates have risen dramatically in the past couple of years, many financial institutions have been… Read More