2023-09-28

Crypto.com Becomes a Registered Crypto Provider in the Netherlands

Crypto.com has announced that its registration with the De Nederlandsche Bank (DNB) as a crypto service provider has been approved, meaning that the exchange now has the legal authority to operate as a provider and issuer of digital assets in Dutch markets.

2023-09-28

Israeli Government Opens Up Public Consultation on DAO Activity

In February 2023, the Israeli government formed a cross-functional team comprised of staff from the Ministry of Finance, the Ministry of Justice, the State Revenue Association, the Israel Securities Authority, the State Tax Authority, the Bank of Israel, and the National Economic Council, to promote the regulation of digital asset activity.

2023-09-28

Monetary Authority of Singapore Grants Ripple Major Payments Institution License, Fueling Digital Asset Growth

Ripple recently announced that they had received preliminary regulatory approval from the Monetary Authority of Singapore (MAS) for a Major Payments Institution License.

2023-09-28

Crypto.com Achieves VASP Registration with the Bank of Spain

Crypto.com has achieved a significant milestone by obtaining a Virtual Asset Service Provider (VASP) registration with the Bank of Spain.

2023-09-28

Australian Securities and Investments Commission Takes Legal Action Against Kraken Operator Bit Trade

The Australian Securities and Investments Commission (ASIC), has taken legal action against Bit Trade Pty Limited, the operator of the Kraken cryptocurrency exchange in Australia.

2023-09-28

Core Scientific Reaches Settlement With Celsius Network

Core Scientific has reached a $14 million settlement with Celsius Mining, a subsidiary of Celsius Network. Core Scientific will sell the Cedarvale Bitcoin mining data center in Texas, and all ongoing legal disputes between the parties will be resolved.

2023-09-28

Monetary Authority of Singapore Charges Former Three Arrows Capitals Executives

The Monetary Authority of Singapore (MAS) has imposed nine-year Prohibition Orders (POs) on the former CEO of Three Arrows Capital (3AC), Zhu Su, and Kyle Livingston Davies, former Chairman and 3AC Director.

2023-09-28

IMF and FSB Release Joint Report on Global Strategies for Managing Crypto Risks

The Financial Stability Board (FSB) and the International Monetary Fund (IMF) have unveiled a comprehensive report outlining a global approach to handle macroeconomic and financial stability risks associated with crypto-assets effectively.

2023-09-28

Former Chinese Official Sentenced Over Illegal Bitcoin Mining

Xiao Yi, a former Chinese political figure, has been sentenced to life imprisonment due to his involvement in corruption and manipulating his authority, stemming from an illegal Bitcoin mining operation.

2023-09-28

Kuwait Bans Cryptocurrency

To bolster its anti-money laundering (AML) and counter-terrorist financing (CTF), Kuwait has implemented strict measures against cryptocurrency activities within the country.

2023-09-28

FTC Hits Celsius with $4.7 Billion Fine and Permanently Bans Them from Issuing Assets

Celsius Network faces significant consequences as the United States Federal Trade Commission (FTC) reaches a settlement with the bankrupt cryptocurrency lender. The FTC has imposed a $4.7-billion fine on the company and permanently banned it from handling consumer assets.

2023-09-28

US Senate Introduces Bill to Regulate DeFi by Implementing Bank-Like Controls and AML Measures

US Senator Jack Reed proposed the “Crypto Asset National Security Enhancement and Enforcement Act of 2023” (S.2355), a bill aiming to regulate the DeFi sector within the United States. The bill’s primary focus is to establish stringent anti-money laundering (AML) compliance obligations for DeFi protocols, mirroring the controls applied to traditional banking institutions.

2023-09-28

Chibi Finance Rug Pull Shakes Arbitrum’s DeFi Landscape

IChibi Finance, a DeFi project on Arbitrum’s Layer 2 blockchain, has allegedly executed a rug pull, leaving users dismayed as the development team vanished and over $1 million in user deposits disappeared.

2023-09-18

Malta Releases New Virtual Financial Asset Guidelines

The Malta Financial Services Authority (MFSA) has unveiled a set of guidelines to regulate Virtual Financial Asset (VFA) Service Providers and bring increased transparency, ethics, and compliance. These guidelines, rooted in Malta’s Virtual Financial Assets Act, establish requirements VFA Service Providers must adhere to, such as mandatory audits and VFA service disclosures.

2023-08-12

CFTC Takes Legal Action Against Cryptocurrency and Precious Metals Trading Fraud

The Commodities Futures Trading Commission (CFTC) has filed a complaint against individuals and the unincorporated decentralized fundraising platform Fundsz. The complaint accuses Fundsz and individuals affiliated with the organization of fraudulent activities related to client solicitation for trading cryptocurrencies and precious metals.

2023-08-12

Cardano Responds to the International Organization of Securities Commissions

Within recent months, the International Organization of Securities Commissions (IOSCO) issued a consultation report proposing policy recommendations for crypto and digital asset markets. The Cardano Foundation has responded to these recommendations.

2023-07-28

House Committee on Financial Services is Developing a Stablecoin Regulatory Framework

At a congressional hearing on July 27, 2023, Republican committee member Peter McHenry presented a new bill entitled the “Clarity for Payment Stablecoin Act.” This proposed legislation seeks to approve and regulate stablecoin issuers while ensuring consumer security by creating a federal floor for stablecoin remittance.

2023-07-21

Indonesia Launches National Crypto Exchange

Indonesia’s Commodity Futures Trading Regulatory Agency (Bappebti) has successfully established a government-approved cryptocurrency exchange.

2023-07-12

South Korea Mandates Asset Disclosure for Crypto Firms

The South Korean government has implemented measures to ensure the clear and detailed disclosure of information by companies involved in issuing or holding virtual assets. The Financial Services Commission has introduced mandatory disclosure requirements for virtual asset providers in a new accounting approach.

2023-07-05

Danish Regulator Directs Saxo Bank to Liquidate Its Cryptocurrency Holdings

Saxo Bank, a local investment bank in Denmark, has received an official order from the Danish Financial Supervisory Authority (DFSA) to sell off its holdings of cryptocurrencies.

2023-07-05

UK Government Enacts Strict Digital Asset Regulations: House of Lords to Confiscate Cryptocurrency Holdings Due to Cybercrime

The UK government has taken significant steps to regulate the crypto asset industry and enhance its ability to combat financial crime. The recently passed Economic Crime and Corporate Transparency Bill and the Financial Conduct Authority (FCA) aim to establish a robust framework for crypto asset businesses operating in the country.

2023-07-04

Thailand SEC Implements New Regulations for Digital Asset Services

Thailand’s Securities and Exchange Commission (SEC) has recently implemented new regulations to prioritize protecting investors in the digital asset sector.

2023-07-04

The Belarusian Ministry of Internal Affairs to Ban Cryptocurrency Transactions

Belarus has announced its intention to combat the increasing rate of cybercrime in the country by banning cryptocurrency and halting the peer-to-peer (P2P) transactions they enable.

2023-07-03

Celsius Receives Approval to Liquidate Altcoin Holdings to Pay Creditors

Following concerns from borrowers that Celsius would nullify the collateral it owed, the bankrupt lending protocol has been approved to liquidate its altcoin holdings for creditor repayment.