Regulation

Hong Kong’s rapid adoption of cryptocurrencies and Web3 is a sign of some “big moves” happening in mainland China, a co-founder of the local game software firm Animoca believes.  The current crypto trend in Hong Kong is “not really just about” the city-state, but about wider China, despite mainland China banning crypto, according to Animoca

The Central Bank of the Russian Federation’s (CBR) central bank digital currency (CBDC) project has been developing rapidly. The first news about the initiative appeared in 2020, and a regulatory bill was introduced in 2022, which has now passed through its final reading in the parliament’s lower chamber, the Duma. However, the final rollout of

Forge, a subsidiary of Société Générale — the third-largest bank in France — became the first company to obtain the highest access license for providing crypto services in the country — a prerequisite for numerous service activities (PSAN). The provider will have a right to custody digital assets, to purchase and sell them for legal

Bankrupt crypto lender Celsius is battling a Chapter 11 bankruptcy with billions of dollars in claims made by various parties. A new estimate by the Bank of the Future (BF) suggests that the troubled crypto lender could likely repay the USD claims if the price of Bitcoin and Ether, the two assets that the firm

The Australian financial services regulator has finally canceled the financial license of FTX Australia, the bankrupt crypto exchange’s local subsidiary — effective July 14. On July 19, the Australian Securities and Investments Commission (ASIC) announced the cancellation, before noting that FTX Australia will still be allowed to provide limited financial services while it wraps up

The Eighth Judicial District Court of Nevada has granted a petition from the state’s Financial Institutions Division (NFID) placing crypto custodian Prime Trust into receivership, pending a hearing to show cause.  In a July 14 filing, the Nevada court ordered the appointment of a receiver for Prime Trust following a June 26 petition from the

On July 11, the European Commission formally adopted its new strategy on Web4 and virtual worlds with the aim of ensuring “an open, secure, trustworthy, fair and inclusive digital environment” for European Union citizens. The strategy is based on four main pillars, revolving around the empowerment of human resources, support of businesses, further development of

Brian Armstrong, the CEO of United States-based cryptocurrency exchange Coinbase, is reportedly planning to meet with members of Congress to discuss digital asset legislation and related issues. According to a July 17 Bloomberg report, Armstrong has a scheduled meeting with the New Democrat Coalition, a group of roughly 100 Democrats in the House of Representatives

New York Rep. Ritchie Torres has called on United States Securities and Exchange Commission (SEC) Chair Gary Gensler to reconsider the regulator’s position on crypto following a “dreadful day in court.” In a July 18 letter to Gensler, Torres requested the SEC limit its enforcement cases to “bonafide bad actors” rather than “indiscriminately” treating the

The European Union has been vocal about its place in the rapidly expanding ecosystem of emerging technologies.  It has been a leader in establishing clear crypto regulations with its long-awaited Markets in Crypto-Assets (MiCA) framework signed into law in late May. The EU has also been pushing forward on creating regulations for the development and deployment of

A United States-based crypto mining company, Marathon Digital, heads to court, as its shareholders allege that CEO Fred Thiel, alongside other top executives, committed a breach of fiduciary duties, unjust enrichment and waste of corporate assets.  A shareholder complaint against Fred Thiel and nine other Marathon executives was filed in the United States District Court

Bankrupt cryptocurrency lending firm Celsius has requested the court to grant relief in the motion related to the distribution of funds from its sale of the self-custody platform GK8. The Celsius Network’s debtors on July 17 submitted a filing stating that its Series B holders have agreed on a settlement to distribute $25 million from

Three months after Faruk Fatih Özer — the founder and former CEO of Thodex — was detained in Türkiye, he received a prison sentence of seven months and 15 days for failing to submit documents requested during the trial. Thodex was once one of the biggest crypto exchanges in Türkiye before it suddenly shut down

Caroline Pham, the Commodities Futures Trading Commission (CFTC) Commissioner, believes the path to United States crypto regulatory clarity has been laid out following Ripple’s partial victory. Speaking on Bloomberg TV on July 17, Commissioner Pham said recent big court decisions regarding the classification of crypto assets will eventually lead to regulatory clarity.  “You know, last

Gary Gensler, the chair of the United States Securities and Exchange Commission, believes staff at its agency could benefit from greater use of artificial intelligence. During a July 17 speech before the National Press Club, where he later broke his silence about the recent Ripple court ruling, Gensler listed several potential use cases of AI that could

Crypto firms and influencers may need to start slapping disclaimers on crypto memes to stay compliant with advertising laws in the United Kingdom, according to a new proposed guidance from the country’s financial regulator. On July 17, the Financial Conduct Authority (FCA) released a proposed guidance on social media financial promotions which targets promotional memes

Cathie Wood, the founder and CEO of ARK Investment Management, said she remains bullish over Coinbase in light of Ripple’s partial victory over the Securities and Exchange Commission on July 13.  While Wood noted the ruling wasn’t in outright favor of Ripple, she lauded the outcome as “by and large, very positive for [crypto] exchanges.”

Given the current push for crypto regulation, the industry breathed a sigh of relief on July 13 as Ripple Labs scored a partial victory in its legal battle with the United States Securities and Exchange Commission (SEC) dating back to 2020. Judge Analisa Torres of the U.S. District Court for the Southern District of New

United States Securities and Exchange Commission (SEC) chair Gary Gensler has commented publicly about the last week’s ruling on the agency’s suit against Ripple.  Gensler gave a talk on artificial intelligence at the National Press Club on July 17 and was asked about the ruling during the questions and answers afterward. Does the ruling affect his stance

Timothy Massad, former chair of the United States Commodity Futures Trading Commission (CFTC), has said though a Securities and Exchange Commission (SEC) v. Ripple court ruling may impact the way businesses and lawmakers address crypto, his call for regulatory clarity remains the same. In a July 7 op-ed with The Wall Street Journal, Massad and