Government policy, laws and regulation shaping digital assets and the future of money.
The U.S. Securities and Exchange Commission (SEC) has intensified its crackdown on the cryptocurrency industry by filing settled charges against the decentralized application (dApp) Mango DAO and the Blockworks Foundation. The charges stem from the unregistered offer and sale of approximately $70 million worth of MGNO tokens, which the SEC categorizes as crypto asset securities. … Read more
The Virtual Asset Regulatory Authority (VARA) of Dubai has issued a new directive requiring all marketing materials for digital assets to include a clear disclaimer warning about the potential for loss of value and high volatility. This move is part of VARA’s ongoing efforts to ensure responsible and transparent operations within the virtual asset service … Read more
Hong Kong is set to align its regulatory framework with global standards for crypto derivatives. The Hong Kong Monetary Authority (HKMA) and the Securities and Futures Commission (SFC) have announced their intention to adopt the reporting requirements established by the European Securities and Markets Authority (ESMA) for over-the-counter (OTC) crypto derivatives. This move aims to … Read more
In a recent development reported by Bloomberg, TrueCoin and TrustToken have reached an in-principle settlement with the U.S. Securities and Exchange Commission (SEC) concerning misleading statements about the backing of their TrueUSD stablecoin. Dated September 24, the settlement follows an investigation that revealed significant discrepancies in the claims of TrueUSD’s full collateralization by U.S. dollars. The … Read more
Crypto giants Robinhood and Revolut are exploring the possibility of launching their own stablecoins, according to unnamed sources cited in a Bloomberg report. While there’s no guarantee these digital assets will ever see the light of day, their potential entry into the market could significantly shake up the landscape. Stablecoins, which aim to maintain a constant value, have become … Read more
Despite a 2021 ban on cryptocurrency trading, China’s over-the-counter (OTC) crypto market continues to flourish. A new report from Chainalysis reveals that these platforms have seen significant inflows of $20 billion per quarter on average through June, totaling $75.4 billion for the nine months. Eric Jardine from Chainalysis explained that the OTC market exists in … Read more
The recent approval by the SEC for options trading on BlackRock’s IBIT ETF marks a pivotal moment in the cryptocurrency landscape. This long-anticipated regulatory green light opens up new avenues for market participants and may significantly alter the dynamics of trading in Bitcoin and potentially Ethereum in the near future. A Significant Milestone for Cryptocurrency … Read more
The Securities and Exchange Commission (SEC) has scored a significant victory in its case against a Utah-based company accused of defrauding investors out of millions of dollars through a phony crypto mining scheme. The SEC alleges that Green United, a Utah-based operation, lured investors into a multi-level marketing scheme by promising high returns from specialized … Read more
The Telegram Wallet app has temporarily suspended its in-app wallet features for users in the UK as part of a strategic move to align with the Financial Conduct Authority (FCA) regulations. This suspension signals the company’s commitment to becoming a registered crypto asset provider, aiming to secure the necessary licenses before reintroducing services to UK … Read more
As digital currency becomes increasingly prevalent, compliance in financial technology is essential. Circle has stepped forward with its innovative Circle Compliance Engine, a comprehensive toolkit designed to help businesses build applications on the blockchain while adhering to crucial regulations. What is the Circle Compliance Engine? The Circle Compliance Engine acts as a safety net for … Read more