Regulation

Twitter Payments LLC, a subsidiary of Elon Musk’s Twitter social network, appears to have received its first money transmitter licenses after Michigan, New Hampshire and Missouri approved the company’s applications.  NEWS: Twitter has finally secured its first money transmitter licenses in several US states. pic.twitter.com/gziiRgelYU — T(w)itter Daily News  (@TitterDaily) July 5, 2023 A

Governments have yet to address all the ways crypto might be taxed, the International Monetary Fund (IMF) has realized, and the amount of taxes not imposed or collected may reach well into the tens of billions of dollars. That insight does little to reduce the variety of challenges in taxing crypto, however. Crypto’s “semi-anonymity,” its

Officials in the United States are considering restricting China’s access to cloud computing services in an effort to safeguard the country’s advanced technology, according to a report in the Wall Street Journal.  According to the report, the Biden Administration proposed adding controls to the amount of access China companies will have to U.S.-based cloud computing services such

Crypto futures exchange OPNX has launched a credit currency for margin trading, according to a July 5 statement made to Cointelegraph from the exchange’s co-founder, Mark Lamb. Called “oUSD,” the currency is available in its “phase 1” iteration, meaning that users cannot receive it without depositing crypto assets into the exchange.  In a future “phase

The first batch of blockchain use cases to debut in Europe’s regulatory sandbox was formally introduced on July 3, following a long wait and nearly 90 applications received in April. First disclosed in 2020, the initiative aims to bridge the regulatory gap between European nations and crypto companies. According to the European Commission, 20 projects

The most recent filing involving cryptocurrency fund manager Valkyrie’s application for a spot Bitcoin exchange-traded fund (ETF) in the United States followed others by including a “surveillance-sharing agreement” with Coinbase. According to a July 3 filing with the U.S. Securities and Exchange Commission (SEC), the Nasdaq stock exchange refiled for a proposed rule change allowing

When the leaders of the American Revolution signed the Declaration of Independence on July 4, 1776, they had no guarantee of victory. The battle for independence was underway, and their prospects were uncertain. Despite occasional victories, these audacious freedom fighters were grossly outnumbered and had difficulty retaining volunteer soldiers. Their commitment to the cause of

In the latest episode of The Market Report, Cointelegraph analyst and writer Marcel Pechman discusses the latest change to the BlackRock spot Bitcoin exchange-traded fund (ETF) filing, which adds Coinbase as a “surveillance-sharing partner.“ Some analysts have signaled that the filings by BlackRock, Fidelity and others are responsible for the recent Bitcoin (BTC) rally toward

Financial regulators in Denmark are coming after cryptocurrency service providers, declaring that local banks are not allowed to hold cryptocurrency to hedge against trading risks. On July 4, the Danish Financial Supervisory Authority (DFSA) officially ordered the local investment bank Saxo bank to dispose of its own holdings in crypto. The regulator said that Saxo

The Reserve Bank of India (RBI) is currently in dialogue with its counterparts from at least 18 other countries on the possibility of cross-border payments in the “digital rupee”.  The report about RBI’s ambitious foreign trade plans for the Indian central bank digital currency (CBDC), appeared in the Economic Times on June 27. It cites

A lawyer leading the United Kingdom’s Law Commission’s review of the application of British laws toward digital assets has stressed the need for further clarity around cryptocurrency lending. Laura Burgoyne unpacked the details of the organization’s four major recommendations to the U.K. government in an interview with Cointelegraph. This comes after a lengthy review process of

South Africa’s financial regulator has announced that all crypto exchanges in the country will be required to obtain licenses by the end of the year, according to a report by Bloomberg. Financial Sector Conduct Authority (FSCA) Commissioner Unathi Kamlana stated that the FSCA has received approximately 20 license applications since its recent opening, and expects

Binance Australia is working with local authorities on meeting compliance requirements amid reports alleging that the company’s offices were searched on July 4. “We are cooperating with local authorities and Binance is focused on meeting local regulatory standards in order to serve our users in Australia in a fully compliant manner,” a spokesperson for Binance

Billionaire entrepreneur Mark Cuban has again locked horns with former securities chief John Reed Stark, this time over who was ultimately to blame for FTX’s collapse and the impact on creditors. During a heated back-and-forth exchange, Cuban argued had the United States Securities and Exchange Commission set “clear regulations,” no one would have lost money

Lawmakers in the upper house of the Parliament of the United Kingdom are moving forward with legislation aimed at expanding authorities’ ability to target cryptocurrencies used for illicit purposes. In a meeting of the U.K. Parliament’s House of Lords on July 4, lawmakers conducted a third reading of the Economic Crime and Corporate Transparency Bill

The United Kingdom’s Financial Conduct Authority, or FCA, has announced that all cryptoasset firms marketing to users in the country must be in compliance with its financial promotions regime by October 2023. In letters dated July 4, the FCA said starting on Oct. 8, companies operating in the U.K. will have only “four routes to

New York-based law firm McDermott Will & Emery filed for compensation of $5.1 million from the creditors of bankrupt crypto brokerage firm Voyager Digital. The bill is for legal services offered between March 1 and May 13, 2023. In a July 3 court filing, the law firm billed the legal fees to the “Official Committee

The Chinese government has announced plans for export controls on metals predominantly used to manufacture semiconductors used in the development of artificial intelligence (AI) systems. On July 3, the Chinese Ministry of Commerce issued a joint statement with the General Administration of Customs which said the controls are aimed at protecting the interests of national

Industry experts believe Hong Kong’s shifting attitude towards blockchain technology, cryptocurrencies and Web3 could entice businesses away from the United States. The city has made a series of moves over the past year to foster the development of the Web3 space and enable retail investment into cryptocurrencies. The latest example of this is the formation

Despite recent narratives suggesting differently, the United States won’t be losing its allure as a crypto hub, according to the CEO of blockchain analytics firm Merkle Science. A swathe of hostile regulatory actions leveled at crypto firms in the United States in recent months has led many top crypto executives to turn their gaze elsewhere. Despite