The recent approvals granted by the Nigerian Securities and Exchange Commission (SEC) to local crypto exchanges, Busha Digital Limited and Quidax, have raised significant interest in the digital asset space. This move comes under the Accelerated Regulatory Incubation Program (ARIP), marking a crucial step towards ensuring investor protection and fostering innovation. The “Approval-in-Principle” given to
Regulation
Recently, OpenSea CEO Devin Finzer made a surprising announcement regarding a Wells Notice received from the US Securities and Exchange Commission (SEC). The SEC considers the NFTs on OpenSea’s platform to be securities, prompting a strong reaction from Finzer. In a statement, he expressed shock at the SEC’s broad action against creators and artists, calling
France has long been considered a desirable location for crypto businesses, boasting favorable tax rates, a talented workforce, and a supportive environment for innovation in the Web3 space. However, recent developments, including the outcome of the French elections and increased competition from other European countries, have raised questions about the future of France as a
Abra, a crypto lending firm, recently found itself in hot water with the US Securities and Exchange Commission (SEC) for failing to register its crypto asset lending product, Abra Earn. This failure led to settled charges against both Abra and its owner, Plutus Lending LLC, for operating as an unregistered investment company. The lesson to
The recent joint statement by Meta CEO Mark Zuckerberg and Spotify CEO Danie Ek sheds light on the challenges faced by tech companies in the European Union due to the fragmented regulatory structure concerning artificial intelligence (AI). The CEOs highlighted that the current AI regulatory framework in the EU is causing hindrances to innovation by
The DeFi Education Fund and the Blockchain Association have collaborated to file an amicus brief supporting the legal challenge against the Securities and Exchange Commission’s (SEC) Consolidated Audit Trail (CAT) program. This initiative aims to address the significant privacy and security concerns associated with the CAT program, particularly for participants in the digital asset market.
The Indian government is gearing up to implement a comprehensive set of regulations for the cryptocurrency sector, according to reports from local media sources. This move demonstrates a strong commitment to creating a regulatory framework for digital currencies within the country. Sources familiar with the matter have revealed that the government’s first step in this
Recently, German authorities conducted a coordinated nationwide operation to confiscate $28 million in cash and 13 crypto ATMs in an effort to combat unlicensed activities in the country’s crypto market. This operation was spearheaded by the Federal Financial Supervisory Authority (BaFin) and involved collaboration with law enforcement and the German central bank. The crackdown targeted
The Nigerian Federal Inland Revenue Service (FIRS) is set to introduce new legislation aimed at taxing the rapidly growing crypto sector within the country. This move is part of a larger effort to modernize Nigeria’s regulatory framework and promote economic growth through innovation. FIRS Executive Chairman Zacch Adedeji recently presented the plan to the National
Senate Majority Leader Chuck Schumer, along with other prominent Democrats, recently spoke at a Crypto4Harris event to express their support for the crypto industry. Schumer emphasized the importance of regulatory clarity and bipartisan collaboration in shaping the future of crypto. He highlighted the need for common-sense regulations that can bring both Democrats and Republicans together
