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Financial Regulators Urge Congress to Pass Crypto Legislation in New Report
15.12.2023
The Financial Stability Oversight Council (FSOC) has renewed its calls for Congress to pass crypto legislation, according to their annual report released Thursday. Crypto vulnerabilities addressed FSOC’s latest release reiterates its suggestion from last year’s report demanding greater regulation...
Financial Regulators Reiterate Call for Legislation to Address Crypto Risks
14.12.2023
Congress needs to pass laws addressing stablecoins and non-securities spot markets, the Financial Stability Oversight Council said in its latest annual report
U.S. Presidential Candidates Chat About Crypto, Target Federal Regulators
12.12.2023
The three aspiring presidents touched on many of the same pro-crypto points at a Coinbase-linked crypto advocacy event
Coinbase to Bring TradFi Assets On-Chain With New Platform Built on Base Under Abu Dhabi Regulator's Oversight
12.12.2023
Coinbase's Project Diamond lets institutions create and trade digital native versions of financial instruments such as debt using Base in a regulated manner
Tether Freezes Tokens of Sanctioned Individuals Listed by OFAC
11.12.2023
Source: Pixabay Tether (USDT), the company behind the world’s largest stablecoin, has frozen the wallets of individuals sanctioned by the U.S. Office of Foreign Asset Controls (OFAC). In a recent announcement, the company said it aims to prevent potential misuse of its tokens and enhance...
South Korean Regulator Rules NFTs Are Not Subject to Crypto Law
11.12.2023
Source: TSViPhoto/Adobe South Korean financial regulators have said NFTs are not subject to the same rules as cryptoassets, a ruling that may buoy token issuers and blockchain gaming firms. Per News1, the Financial Services Commission (FSC), the nation’s top regulator, stated that “following...
Crypto Exchange Binance Drops Abu Dhabi License Application as Global Needs Shift
9.12.2023
Crypto exchange Binance has withdrawn its application for a license in Abu Dhabi. “When assessing our global licensing needs, we decided this application was not necessary,” a Binance spokesperson stated, adding that the company plans to continue to work with regulators “to...
Peter Schiff Says Global Tax Chiefs’ Only Enforcement Success Is Its ‘Failed’ Action Against His Bank
8.12.2023
Economist Peter Schiff says the only enforcement success of the Joint Chiefs of Global Tax Enforcement (J5) is its “failed” action against his bank, allegedly aimed to “put a stop to the suspected facilitation of offshore tax evasion.” Schiff stressed: “Other than...
Blackrock’s Spot Bitcoin ETF Filing Update Addresses Potential Classification of BTC as a Security by SEC
7.12.2023
Blackrock, the world’s largest asset manager, has warned in its latest spot bitcoin exchange-traded fund (ETF) filing update of the potential for bitcoin to be classified as a security by the U.S. Securities and Exchange Commission (SEC), state regulators, or court rulings. “If...
Crypto Firms Should Use Binance’s Settlement As a “Template” For How to Operate, Says CFTC Commissioner Kristin Johnson
5.12.2023
Source: Pixabay Binance’s $4.3 billion fine from the Commodity Futures Trading Commission should be used as a “template” for how to operate, CFTC Commissioner Kristin Johnson said. Speaking at the Financial Times’ Crypto and Digital Assets Summit: Winter Edition on Tuesday, Johnson asserted that...
Regulators Not Afraid Take Action Against Crypto Rule Breakers, NYDFS Chief Says
5.12.2023
The regulator has brought enforcement actions against Coinbase and Robinhood
US Financial Services Platform Sofi Announces Exit From Crypto Market
5.12.2023
Starting Dec. 19, the financial services platform Sofi will stop offering crypto services to its customers. Sofi said banking regulators’ increased scrutiny of the crypto sector compelled it to make this decision. The company has outlined the steps that must be taken by customers who...
South Korea’s Biggest Exchanges Help Regulators Hunt ‘Undeclared Crypto Operators’
5.12.2023
Source: Vladimir Polikarpov/Adobe South Korea’s five biggest crypto exchanges will team up with financial regulators to search for “undeclared crypto operators.” According to News1, the announcement was made by the Digital Asset Exchange Association (DAXA), which comprises the exchanges Upbit...
SoFi to Exit Crypto Business Amid Increased Regulatory Scrutiny
30.11.2023
Source: Adobe / Goodpics SoFi Technologies Inc., a financial services company, has decided to exit the cryptocurrency sector due to increased scrutiny by banking regulators. On November 29, the company announced that it would terminate its cryptocurrency trading services for users by December...
Binance to End Support for BUSD Stablecoin, Remaining Balances Converted to FDUSD
29.11.2023
Binance ends BUSD support and transitions to FDUSD stablecoin after regulatory troubles. Image by maurice norbert, Adobe Stock. Major cryptocurrency exchange Binance announced today in a blog post that it will end support for its Binance USD (BUSD) stablecoin on December 15. The move comes after...
UK City Minister Asks Regulators to Embrace Some Risk-Taking in Financial Markets
29.11.2023
Source: AdobeStock / Mary The new minister for the City of London has called on regulators to adopt a more accommodating approach towards risk-taking in a bid to revitalize the UK’s stagnating economy. Bim Afolami, who recently assumed his position as part of a ministerial reshuffle...
Hong Kong Chief Says Regulators May Get Powers to Crack Down on Unlicensed Crypto Exchanges: Report
28.11.2023
The Securities and Futures Commission said it does not have the power to close unlicensed crypto exchanges
Today in Crypto: Hong Kong Will Use ‘All Available Methods’ to Fight Crypto Scams, Americans are ‘Much More Open to Potential of Crypto Than Brits’
28.11.2023
Source: AdobeStock / Vitalii Vodolazskyi Get your daily, bite-sized digest of crypto and blockchain-related news – investigating the stories flying under the radar of today’s news. __________ Regulation news Hong Kong authorities may give regulators more power to fight cryptocurrency scams and will...
US State Regulator Shares Most Common Crypto Complaints
24.11.2023
The California Department of Financial Protection and Innovation has outlined the most frequently reported complaints related to cryptocurrency. Emphasizing “a rising trend in crypto-related complaints,” the regulator advised: “Be careful what you post and make public online....
Italian regulators investigate online AI data scraping
23.11.2023
The Italian Data Protection Authority has launched a “fact-finding” probe into the security practices of public and private websites to prevent AI data scraping