Government policy, laws and regulation shaping digital assets and the future of money.
In a significant regulatory move, the Dutch Central Bank (DNB) has imposed a fine on cryptocurrency exchange Bybit for failing to register in accordance with local laws aimed at combating money laundering and terrorist financing. The registration requirement, introduced in May 2020, was designed to enhance oversight in the crypto sector, yet Bybit continued its … Read more
JPMorgan Chase, the largest bank in the United States, has reached a settlement with the Securities and Exchange Commission (SEC) amounting to $151 million. This settlement resolves five charges brought against the bank, including serious allegations of misleading disclosures to clients and failing to adequately disclose conflicts of interest across various business lines. Details of … Read more
In a significant development for the cryptocurrency landscape, Hong Kong is set to transition exchanges from provisional to full licenses as they meet the regulatory standards set by the Securities and Futures Commission (SFC). This move comes as part of a broader effort to enhance compliance and ensure the integrity of the digital asset market. … Read more
The Netherlands is moving forward with a proposed tax policy that would require digital service providers, including cryptocurrency exchanges, to share user information with local tax authorities. This initiative aims to enhance transparency regarding digital asset ownership and curb tax fraud, aligning with broader cryptocurrency regulations across Europe. Strengthening Crypto Tax Regulations Recognizing the growing … Read more
FTX has secured a $228 million settlement in its lawsuit against Bybit, marking a significant milestone in its ongoing efforts to navigate financial challenges and stabilize operations. Background on FTX’s Bankruptcy Once a prominent player in the cryptocurrency trading landscape, FTX faced severe financial turmoil that led to its bankruptcy filing. The company’s financial struggles … Read more
The Dutch government is seeking public feedback on proposed legislation that would require cryptocurrency service providers, including exchanges, to collect and share user data with the local tax agency, aligning with European Union regulations. “The aim of the bill is to create more transparency about the ownership of cryptocurrencies, which can prevent tax avoidance and … Read more
Ripple Labs has officially filed a cross-appeal with the U.S. Court of Appeals for the Second Circuit, contesting key aspects of a recent ruling in its ongoing legal battle with the Securities and Exchange Commission (SEC). This move follows the SEC’s appeal a week prior, which targets specific elements of a 2023 court decision that … Read more
According to Dante Disparte, Chief Strategy Officer and Head of Global Policy at stablecoin issuer Circle, the United Kingdom is poised to introduce formal regulations for stablecoins in the coming months. In a recent interview with CNBC, Disparte expressed confidence in the UK’s ability to establish clear guidelines for these digital assets. A Delayed but … Read more
In recent discussions, regulatory officials have highlighted the challenges arising from the lack of a comprehensive regulatory framework to oversee cryptocurrencies. As a response, a new report indicates that the US Congress may implement a permanent solution to these issues before the end of the year. Lawmakers are actively working to pass significant crypto regulation … Read more
The cryptocurrency industry recently celebrated a significant milestone from its pseudonymous creator, Satoshi Nakamoto, marking an important moment in its evolution. However, SEC Chair Gary Gensler tempered the enthusiasm by reiterating the commission’s firm regulatory stance. He emphasized the agency’s commitment to its “regulation by enforcement” approach, which aims to protect investors and promote transparency … Read more