Regulation

Coinbase, a well-known crypto company, faced a hefty fine of £3.5 million due to Anti-Money Laundering breaches by its subsidiary CB Payments Limited (CBPL). Despite an initial fine of £5 million, a settlement discount resulted in a reduced penalty. The Financial Conduct Authority (FCA) highlighted that the violations were related to CBPL’s failure to follow

The recent discussion by Andreessen Horowitz (a16z) founders Ben Horowitz and Marc Andreessen shed light on the numerous challenges faced by the crypto industry under the current administration. One of the key issues highlighted was the regulatory ambiguity surrounding cryptocurrencies. The Securities and Exchange Commission (SEC) has failed to provide clear guidelines on which cryptocurrencies

The recent passing of a bill by the Russian State Duma to legalize Bitcoin mining and allow the use of cryptocurrencies for international trade represents a significant shift in the country’s approach to digital assets. The legislation, which is set to take effect on Sept. 1 pending final approval, aims to address the challenges faced

The United States House of Representatives recently unanimously passed the Financial Technology Protection Act with the goal of addressing issues related to digital currencies being used for illicit activities and terrorism financing. This bill, introduced by Representative Zach Nunn, was approved on July 22, 2024. The main objective of this legislation is to establish a

In a recent letter to Vice President Kamala Harris, the Digital Chamber emphasized the need for a more forward-looking approach to digital assets and blockchain technology. The Chamber pointed out that the cautious stance taken by the Biden/Harris Administration has led to a perception among the public that the Democratic Party is anti-crypto. Despite the

Recently, 10x Research made a bold statement regarding President Joe Biden’s withdrawal from the 2024 presidential race. According to the firm, former President Donald Trump is now poised to secure a “decisive victory” in the upcoming November election. 10x Research went as far as to claim that no credible candidate stands a chance against Trump,

As the CEO and founder of DAIM, Brian Korshain expressed strong optimism regarding the potential impact of former President Donald Trump’s support for Bitcoin. He noted the rumors about Trump’s plan to make Bitcoin a strategic reserve asset for the US, describing it as “possible” but also acknowledging that it could be “very difficult to

The Basel Committee on Banking Supervision has recently announced the final disclosure framework for banks’ crypto exposures, aimed at enhancing transparency and ensuring a consistent regulatory approach in the digital assets field. This comprehensive framework, known as DIS55, requires banks to provide detailed information on their crypto activities through standardized tables and templates. By standardizing

After concluding a consultation period over a licensing program initiative for fiat-referenced stablecoin (FRS) providers, Hong Kong’s financial regulators have received 108 submissions from various stakeholders. The Monetary Authority (HKMA) and the Financial Services and Treasury Bureau (FSTB) announced this development in a joint statement on July 17. Most respondents agreed that a regulatory regime

The landscape of cryptocurrency lobbying has witnessed a significant transformation over the past seven years. A recent study conducted by Social Capital Markets has revealed a monumental surge in lobbying expenditures by crypto companies, painting a vivid picture of the industry’s evolving relationship with policy and regulation. The findings showcase a remarkable 1,386% increase in