Government policy, laws and regulation shaping digital assets and the future of money.
The Federal High Court in Abuja has granted an order to the Economic and Financial Crimes Commission (EFCC) to target and block four specific digital wallets associated with the #EndBadGovernance protest movement. This decision comes as part of a broader effort to address financial issues related to recent protests against Nigeria’s economic conditions. National Security … Read more
In a landmark decision, the Dubai Court of First Instance has recognized salary payments in cryptocurrency as valid under employment contracts, marking a significant shift in the UAE’s judicial approach to digital currencies. This ruling, delivered in case number 1739 of 2024, reflects an evolving stance on the integration of cryptocurrencies into legal and economic … Read more
Recently, Turkey’s regulatory authorities updated the list of firms applying for crypto business licenses, increasing the count from 47 to 76. This expansion sees heavyweight additions such as Coinbase, KuCoin, and Gate.io joining already approved major exchanges like Binance, Bitfinex, and OKX. Regulatory Context and New Legislation This surge in license applications follows the introduction … Read more
In a groundbreaking decision, the Dubai Court of First Instance has validated the use of cryptocurrency for salary payments under employment contracts. This ruling marks a significant departure from previous judicial attitudes, signaling a growing acceptance of digital currencies within the UAE’s legal and economic landscape. Case Background The case, numbered 1739 of 2024, centered … Read more
On August 16, 2024, the Bank of Ghana (BoG) unveiled a set of draft guidelines aimed at regulating digital assets, including prominent cryptocurrencies like Bitcoin (BTC) and Tether (USDT). This move follows a comprehensive internal review and reflects the central bank’s response to the growing interest and risks associated with the crypto market in Ghana. … Read more
As the 2024 U.S. presidential race heats up, cryptocurrency is becoming a crucial issue for major candidates. Recently, Circle, a leading player in the digital assets sector, unveiled a new risk-based capital framework for stablecoins, underscoring the increasing need for clear and effective regulation in this rapidly evolving industry. Concurrently, Democratic nominee Kamala Harris’ campaign … Read more
Alabama Representative Mike Shaw, R-Hoover, has announced his intent to introduce legislation aimed at regulating cryptocurrency and blockchain technology in the state. This move comes just a month after a key meeting involving crypto stakeholders, including lawmakers and businesses, to explore regulatory frameworks for the burgeoning industry. Shaw’s Legislative Plans In a recent town hall … Read more
In a significant legal development, Binance, one of the world’s leading cryptocurrency exchanges, has agreed to pay $1.76 million to the Brazilian Securities and Exchange Commission (CMV) to settle allegations of illegal derivatives trading. This settlement comes after an extensive investigation by the CMV, which found that Binance had been offering derivatives trading services in … Read more
In a significant enforcement action, the Securities and Exchange Commission (SEC) has fined New York-based broker-dealer OTC Link $1.19 million for failing to file Suspicious Activity Reports (SARs) over a period of three years. This penalty highlights the critical role of compliance in the financial sector and underscores the importance of regulatory oversight in preventing … Read more
Benjamin Cowen, a prominent crypto strategist, has recently shared insights on the crypto market’s potential trajectory, emphasizing the Federal Reserve’s role in influencing Bitcoin’s performance. According to Cowen, Bitcoin has been on a gradual decline since March, primarily due to the Fed’s strict monetary policies and its hesitance to implement quantitative easing. Cowen highlights that … Read more