The Bank for International Settlements (BIS) has recently announced the launch of Project Atlas, in collaboration with central banks within the Eurosystem. This proof of concept aims to delve into the economic implications of crypto assets and decentralized finance (DeFi). The BIS Innovation Hub Eurosystem Centre, De Nederlandsche Bank, and the Deutsche Bundesbank have joined
Regulation
Kenya’s Ad hoc committee investigating the Worldcoin matter has brought to light alarming allegations regarding the company’s actions. According to local media, the committee claims that Worldcoin’s activities have “constituted acts of espionage and a threat to statehood.” The company, known for its controversial practice of scanning Kenyans’ irises in exchange for cryptocurrency tokens, operated
In a recent filing by the Securities and Exchange Commission (SEC), shocking allegations have come to light regarding the co-founders of the now-defunct Terra blockchain project. The SEC claims that the leaders of Terraform Labs, the company behind the project, conspired to create fraudulent transactions during the development of the project. According to the SEC,
Crypto exchange Coinbase has recently announced that its international exchange has received regulatory approval from the Bermuda Monetary Authority (BMA) to offer perpetual futures to non-U.S. retail customers. This move marks a significant milestone for Coinbase as it aims to tap into the largest sector of the cryptocurrency trading market. Expanding Access to Perpetual Futures
Ripple’s chief legal officer, Stuart Alderoty, has raised concerns about the upcoming statements of Gary Gensler, the U.S. Securities and Exchange Commission (SEC) Chairman, during his appearance before the Senate Committee on Financial Services. According to Alderoty, Gensler’s statements may be misleading and misrepresent the nature of the crypto asset securities market. This article delves
The U.S. Securities and Exchange Commission (SEC) has again deferred its decision on the ARK 21Shares Bitcoin Exchange-Traded Fund (ETF), causing further uncertainty in the market. This latest filing, dated September 26, highlights the SEC’s ongoing indecisiveness regarding the approval and listing of the ETF proposed by Cboe BZX. Cboe BZX initially submitted the filing
The U.S. Securities and Exchange Commission (SEC) has raised objections to Celsius’ proposed reorganization plan, which involves cryptocurrency exchange Coinbase acting as a distribution agent to return funds to former users affected by the company’s bankruptcy. The SEC argues that Coinbase’s role goes beyond the typical duties of a distribution agent. Furthermore, the regulator points
Hong Kong’s Securities and Futures Commission (SFC) has implemented new measures aimed at enhancing investor education and strengthening the regulatory framework in light of recent incidents, such as the JPEX debacle. The SFC aims to improve transparency, combat fraud, and establish a dedicated channel for sharing information on suspicious activities of Virtual Asset Trading Platforms
India’s crypto ecosystem has received a much-needed boost following the conclusion of the G20 summit. As the world’s most influential economies, the G20 fully endorsed the recommendations from the IMF and FSB Synthesis paper, providing clear guidance for the policy and regulatory framework of crypto assets. This article explores the key aspects addressed by the
The regulatory spotlight is once again on OpenAI, as Poland’s Personal Data Protection Office opens a case against the company. This comes after an individual lodged a complaint against OpenAI’s popular ChatGPT app, alleging unlawful data handling and lack of transparency. As the investigation unfolds, concerns regarding OpenAI’s data processing principles and potential violations of
