Regulation

In light of Hong Kong’s commitment to developing cryptocurrency infrastructure, fintech official King Leung has visited Japan to talk with policymakers and regulators in Tokyo to better understand the idea around Web3 digital assets. In an interview with Cointelegraph reporter Jesse Coghlan, King said that understanding the rationale behind Japan designing those regulations was something

One of the primary benefits of blockchain technology is the ability to record and capture information in a permanent, tamper-proof record. Once data is on a blockchain network, it cannot be altered, making it an ideal solution for record-keeping.  Tokenized assets, such as nonfungible tokens (NFTs), can also be placed on a blockchain. This can

Thailand’s Securities and Exchange Commission (SEC) is preparing to soften retail investment restrictions related to initial coin offerings (ICO) to boost digital investments. The Thai securities regulator is willing to lift the limit of 300,000 baht ($8,800) for asset-backed ICOs per person, planning to allow bigger investments in real estate and infrastructure-backed ICOs, the SEC

Regulated stablecoins are currently in the spotlight of policymakers as a panel of professionals in the digital regulatory space unpacks their predictions on the use of regulated stablecoins in the future at the World of Web (WOW) Summit in Hong Kong.  In the panel titled “Digital Assets: Policies & the Road Ahead,” the group discussed

DeFi execs at a WOW Summit panel argued that implementing “Know Your Customer” (KYC) measures will tackle the “biggest issue” in decentralized finance (DeFi), which is hackers laundering millions of stolen funds into “clean money.” During a panel session at the World of Web3 Summit (WOW) in Hong Kong on March 29, titled ‘Blockchain Security

United States Securities and Exchange Commission (SEC) chair Gary Gensler has thrown his support behind President Biden’s request to allocate a record $2.4 billion in funding for the regulator, highlighting the ongoing need to crack down on “misconduct” in the cryptocurrency industry. In prepared testimony for the March 29 budget hearing with the House Appropriations

There are still industry executives that remain hopeful the United States will develop laws to treat crypto fairly, however, an advisory to the Crypto Council for Innovation warns it will take “a lot of work.” Speaking to Cointelegraph on March 29 at the World of Web3 (WOW) Summit in Hong Kong, Crypto Council for Innovation

Sam Bankman Fried’s new petition to have his legal expenses reimbursed has been met with fierce objection from lawyers representing the crypto exchange and its creditors committee. As per previous reporting by Cointelegraph, Bankman-Fried’s lawyers had filed a motion on March 15 seeking to have his court costs covered by directors and officers (D&O) insurance

Martin Gruenberg, chair of the United States Federal Deposit Insurance Corporation, has said the FDIC plans to return roughly $4 billion in deposits connected to Signature Bank’s digital asset banking business by early April. In a March 29 hearing of the U.S. House Financial Services Committee exploring federal regulators’ responses to recent bank failures, Gruenberg

The RESTRICT Act, a bipartisan bill introduced earlier this month into the United States Senate, could be applied in broad and unexpected ways, including to threaten crypto, should it become law, think tank Coin Center warned in its blog.  The bill, formally known as the ‘‘Restricting the Emergence of Security Threats that Risk Information and

Former FTX chief executive officer Sam Bankman-Fried, also known as SBF, is reportedly funding the legal team defending him against federal charges with millions of dollars he gifted his father from Alameda Research. According to a March 29 Forbes report citing sources with “operational knowledge” of FTX and Alameda, in 2021 Bankman-Fried gave his father

Beaxy suspended operations on March 28 “due to the uncertain regulatory environment surrounding our business,” according to the cryptocurrency exchange’s blog. The suspension came a day before the United States Securities and Exchange Commission (SEC) announced it was charging Beaxy and its executives with failing to register as a national securities exchange, broker and clearing

Authorities from both the United States and South Korea have made efforts to have Terra co-founder Do Kwon extradited to their respective countries following his arrest in Montenegro. At a March 29 press conference, Montenegrin Justice Minister Marko Kovač said the United States made diplomatic efforts to ask for Kwon to be handed over, while South Korean

The rollout of The Bank of Russia’s central bank digital currency (CBDC) pilot is being delayed indefinitely. However, participating banks have stated their readiness to begin the testing.  As reported by the state-owned TASS on March 28, the CBDC pilot won’t start on April 1, as previously announced, because specific legislation has only passed through the

Circle has been subject to discussion in the crypto industry since the depegging of its USD Coin (USDC) stablecoin amid the collapse of Silicon Valley Bank (SVB) on March 10. Now that the company has cleared its backlogs and USDC has regained its 1:1 peg with the United States dollar, it looks toward the future —

The United States Securities and Exchange Commission (SEC) chief Gary Gensler is set to testify before the House Financial Services Committee for the first time. In an interview, Representative Patrick McHenry, chairman of the Financial Services Committee, confirmed that the SEC chief would have to face questions on April 18 over his approach toward the

The collapses of banks like Silvergate have certainly impacted cryptocurrency exchanges but there are ways for the industry to survive without the support of banks, one executive believes. Crypto exchanges significantly rely on traditional banking systems for customer deposits, which makes them vulnerable to various banking issues, according to Bitstamp USA CEO and global commercial

Nigerian crypto investors using peer-to-peer (P2P) services have expressed concerns about the Central Bank of Nigeria (CBN) flagging their bank accounts. CBN’s decision to flag accounts is believed to be in relation to the near $6.3 million (2.9 billion nairas) Flutterwave hack, as the bank accounts have yet-to-be-proven affiliations with the hack. According to local news sources,

A new bill has been introduced to the Australian Parliament proposing regulations for providing cryptocurrency services in the country. Senator Andrew Bragg submitted a private senators’ bill titled Digital Assets (Market Regulation) Bill 2023 to “protect consumers and promote investors,” which includes regulatory recommendations for stablecoins, licensing of exchanges and custody requirements. Proposed regulatory changes

European Union lawmakers have adopted new draft legislation imposing a 1,000 euro ($1,083) cap on anonymous crypto transfers to combat money laundering and terrorist financing. According to a European Parliament statement published on March 28, the limit would apply to a crypto asset transfer when a customer can’t be identified. Cash transactions will also be