U.S. lawmakers are increasing their pressure on the Justice Department to launch an investigation into Binance and Tether. Senators and Representatives are urging Attorney General Merrick Garland to take decisive action if the firms are found to be complicit in facilitating illicit financing, including support for terrorist groups such as Hamas. This latest move comes
Regulation
The Financial Conduct Authority (FCA) in the U.K. has recently raised concerns over widespread non-compliance among cryptocurrency firms with its new promotion requirements. These requirements, which were implemented on October 8, aim to protect investors by urging companies to warn users about the potential risks associated with investing in certain crypto products. However, the FCA
The conversation surrounding spot Bitcoin exchange-traded funds (ETFs) continues to gain momentum, with major asset managers like BlackRock and Fidelity now joining the race. SEC Commissioner Hester Peirce provided valuable insights into this development in a recent conversation with CNBC on October 23. While acknowledging the growing interest from firms and investors, Peirce urged caution
Hong Kong’s Customs and Excise Department is taking a closer look at the regulatory measures surrounding cash-for-crypto shops in an effort to address the money-laundering risks associated with these establishments. This decision came after the police arrested several store owners who were allegedly involved in a $192.7 million fraud concerning the JPEX crypto exchange. Traditionally,
The Federal Bureau of Investigation (FBI) has recently filed charges against six individuals for their involvement in an unlicensed money-transmitting business that utilized cryptocurrencies as a tool for money laundering. This article delves into the details of the case, highlighting the methods employed by the accused individuals and the implications of their actions. The accused
Grayscale Investments, a leading digital currency asset manager, has taken a significant step towards listing shares of its popular Grayscale Bitcoin Trust (GBTC) on the NYSE Arca. The company filed an S-3 registration statement with the U.S. Securities and Exchange Commission (SEC), expressing its intention to register and issue shares under the GBTC symbol. This
The Council of the European Union (EU) has taken a significant stride in regulating crypto-assets by adopting a directive that aims to enhance cooperation amongst national taxation authorities. The announcement made on October 17, 2021, signals a proactive approach by the EU towards the rapidly digitalizing economy. The directive introduces comprehensive amendments to the EU’s
The European Securities and Markets Authority (ESMA) has issued a warning that investors in the European Union (EU) will not be protected under the bloc’s crypto asset market rules until the end of 2024 at the earliest. This delay in regulatory implementation leaves investors vulnerable to potential losses and lacking the benefits of EU-level oversight.
The Australian federal government has recognized the need for regulation in the cryptocurrency industry and is set to introduce new regulations requiring crypto exchanges to obtain a financial services license. This move comes in response to a series of international hacks and cases of poor risk management, including the collapse of U.S.-based crypto exchange FTX,
In a surprising turn of events, California Governor Gavin Newsom has approved a new cryptocurrency regulation bill that will come into effect in July 2025. The bill, known as the Digital Financial Assets Law, is set to establish a more stringent regulatory framework for crypto businesses operating within the state. Under this legislation, individuals and
