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Kraken Crypto Exchange Fined by Australian Court
24.8.2024
The Federal Court of Australia has ruled that Bit Trade Pty Ltd., operating crypto exchange Kraken in Australia, failed to meet regulatory obligations for its margin trading product. The product was offered without a required market determination, breaching the Corporations Act. ASIC emphasized...
Gate Ventures, Abu Dhabi Blockchain Center Launch $100M Innovation Fund
21.8.2024
Gate Ventures (crypto exchange Gate.io’s VC arm) and Abu Dhabi Blockchain Center partnered to launch Falcon Gate Ventures, a $100 million fund supporting Web3 innovation. The fund aims to stimulate global Web3 growth and solidify the United Arab Emirates’ position as a digital economy...
Hong Kong issues generative AI guidelines for consumer protection
20.8.2024
The HKMA introduces new principles for using generative AI, emphasizing governance, transparency, and data protection in consumer-facing applications
Google Faces Lawsuit After $5M in Crypto Stolen via Play Store App
18.8.2024
A Florida woman, Maria Vaca, has sued Google in a California state court, alleging that a cryptocurrency wallet app she downloaded from the Google Play Store was malicious and resulted in the theft of $5 million in cryptocurrency. Vaca claims the app, Yobit Pro, exploited Google’s marketing...
Post WazirX Hack, India's CoinDCX Starts Investor Protection Fund With $6M
7.8.2024
Indian crypto exchange CoinDCX's co-founder Sumit Gupta has told CoinDesk that his company has established an investor protection fund, saying that if other exchanges did this too "it would be better for the eco system."
Whatsapp Warns It May Leave Nigeria Over Order to Pay a $220 Million Fine
3.8.2024
Whatsapp, the social media platform owned by Meta Inc., has stated that it would be impossible to comply with additional demands from Nigeria’s consumer protection agency. The social media platform argues that the Nigerian agency’s order compelling it to pay a $220 million fine contains multiple...
India's Web3 alliance tightens cybersecurity after Wazirx attack
31.7.2024
The BWA’s initiatives highlight an increasing awareness of the importance of cybersecurity in preserving trust and integrity in digital finance
Wisconsin unveils tracker to fight crypto fraud and investment scams
31.7.2024
The Wisconsin Department of Financial Institutions aims to protect investors from crypto and investment fraud with a new scam tracker based on consumer complaints
Cryptocurrency Firm Abra Settles With 25 US States Over Licensing Violations
26.6.2024
Financial authorities in 25 U.S. states have reached a settlement with the cryptocurrency investment platform Abra and its CEO Bill Barhydt for operating without proper licensing. This settlement mandates significant changes in how Abra conducts its operations within these states. Abra Reaches...
Nonprofit criticizes Tether in multimillion-dollar ad campaign
20.6.2024
Consumers’ Protection will bring negative aspects of Tether to consumer attention with billboards and TV ads
EU watchdog urges banks to prioritize clients in AI usage
31.5.2024
The EU's top financial regulator, ESMA, mandates that banks and investment firms ensure AI tools prioritize client interests, reinforcing accountability under MiFID
Turkey’s Crypto Regulations Ready for Parliament, Draft Prioritizes Consumer Protection and Global Standards
13.5.2024
Lawmakers in Turkey are reportedly set to submit a draft law on crypto regulation to the parliament this week. The proposed regulations aim to reduce risks for people dealing with cryptocurrency.
The post Turkey’s Crypto Regulations Ready for Parliament, Draft Prioritizes Consumer Protection...
Turkey’s Upcoming Crypto Rules Will Protect Users While Fostering Innovation, Lawmaker Says
21.2.2024
Ömer İleri, who oversees Information and Communication Technologies for Turkey’s ruling party, met with representatives of the crypto sector to discuss upcoming regulations
South Korea to Expel Crypto Exchanges Failing to Meet Its Stringent Conditions
15.2.2024
Cryptocurrency exchanges that fail to meet South Korea’s stringent operating standards will be expelled from the crypto market, the country’s financial intelligence agency has said. The Financial Intelligence Unit said its annual work plan incorporates the insights of cryptocurrency...
Australian Government Official to Question Regulator Over Its Failure to Warn Crypto Investors
10.1.2024
The Australian government’s assistant treasurer, Stephen Jones, has stated his intention to query the country’s securities regulator over its failure to warn investors about the risks of investing in the now-collapsed crypto investment firm Hyperverse. Jones stated that a “bunch”...
South Korea Financial Regulator Proposes Consumer Protection Rules for Crypto Users
11.12.2023
The rules are scheduled to take affect on July 19 next year
New York finance regulator tightens crypto listing guidance
16.11.2023
Crypto firms’ policies on coin listing and delisting must align with a list of standards set by the NYDFS
Crypto Regulation News Weekly Digest: SafeMoon Executive Charges and FinCEN’s Mixing Service Proposal
7.11.2023
Last week saw major regulatory actions against crypto mixing services and alleged fraud along with pushback from lawmakers. Image by Andrii, Adobe Stock. The cryptocurrency industry increasingly finds itself under the purview of regulators striving to balance innovation with consumer protection...
Tokenized Future: Hong Kong’s Regulatory Shifts Towards Digital Assets
2.11.2023
Hong Kong is mapping out clear guidelines for tokenization and digital assets. The city aims to achieve a mix of innovation and consumer protection for both the developers and the users. This initiative, as part of a broader push, is steered towards placing Hong Kong at the center of fintech...
US Consumer Protection Agency Might Introduce E-banking Laws to Digital Assets
9.10.2023
The director of the Consumer Financial Protection Bureau (CFPB) disclosed that the agency is considering transplanting e-banking laws to digital assets.
Speaking at the Bookings payment conference on Oct 6, Rohit Chopra said that the agency might apply the Electronic Fund Transfer Act (EFTA)...