Government policy, laws and regulation shaping digital assets and the future of money.
An Australian man has admitted to participating in promoting cryptocurrency lending services for the now-defunct crypto exchange BitConnect, which gained notoriety as an alleged Ponzi scheme and ceased operations in 2018 amid accusations of defrauding victims of over $2.4 billion. The Australian Securities and Exchange Commission (ASIC) stated on May 17 that John Louis Anthony … Read more
Luxury fashion house Dolce & Gabbana (D&G) is facing a fiery backlash after the value of their metaverse NFTs plummeted a staggering 97%. This dramatic drop has not only sparked outrage from disappointed customers but also led to a lawsuit against the brand. Broken Promises and Unfulfilled Hype D&G entered the metaverse with much fanfare, selling … Read more
India’s securities regulator has proposed that oversight of cryptocurrency trading should be divided among multiple authorities, according to a Reuters report. The Securities and Exchange Board of India (SEBI) made this recommendation to a government panel responsible for formulating finance ministry policy, with the panel expected to submit its report by June. SEBI’s stance contrasts … Read more
According to reports from NTV, the Turkish Grand National Assembly is set to receive a bill defining cryptocurrencies today. AK Party Group Chairman Abdullah Güler will reportedly unveil details regarding the “Proposal Law on Amendments to the Capital Markets Law” at a press conference scheduled for 15:30 in the Turkish Grand National Assembly. The news … Read more
Crypto exchange OKX is transitioning its Australian-focused services to a locally regulated entity as part of its expansion in the Asia-Pacific region. Jamie Kennedy, general manager of OKX Australia, stated that Australian crypto users deserve a secure, easy-to-use platform that meets their needs, including seamless access to banking rails and AUD pairs for popular cryptocurrencies. … Read more
The Commodity Futures Trading Commission (CFTC) has taken action against Falcon Labs, a Seychelles-based crypto brokerage firm, for not registering as a futures commission merchant (FCM) in the US. This is notably the CFTC’s first enforcement action against an unregistered FCM for providing “unauthorized access” to crypto exchanges. Crackdown on Crypto by CFTC Affects Falcon … Read more
Russian energy companies are reportedly gearing up to crack down on private cryptocurrency miners and individuals mining cryptoassets at home, as per a report on May 12 by the media outlet Izvestia. The Russian Government Expert Council is said to be drafting new proposals related to mining, which will be submitted to the Cabinet. These … Read more
In a recent installment of Chris Vasquez’s Worldclass podcast, Ripple CEO Brad Garlinghouse discussed the significant accomplishment the company achieved while challenging the U.S. Securities and Exchange Commission (SEC) in court. Additionally, he addressed various topics and divulged the primary strategy for recruiting top-tier talent at Ripple. Ripple’s huge victory during the SEC case Recently, … Read more
The U.S. Securities and Exchange Commission (SEC) has outright rejected cryptocurrency exchange Coinbase’s request for an interlocutory appeal regarding the application of conventional securities regulations to digital assets. Coinbase’s Appeal Request on Cryptocurrency Regulation Rejected by the SEC The SEC rejected Coinbase’s appeal request to review whether traditional securities regulations, notably the Howey Test, apply … Read more
Crypto advocate Mark Cuban has responded to former 2024 Republican presidential contender Donald Trump’s newfound interest in cryptocurrencies, foreseeing their significant impact on the forthcoming 2024 election. Crypto advocate Mark Cuban challenges the SEC ahead of the 2024 election Mark Cuban raised concerns on social media about the growing hostility towards the cryptocurrency industry in … Read more