In a recent development, U.S. District Judge Robert Shelby has expressed his concern over the Securities and Exchange Commission’s (SEC) handling of a lawsuit against cryptocurrency firm Debt Box. This comes after the SEC secured a temporary restraining order against Debt Box based on statements that were later proven to be false, leading the judge
Regulation
Spanish police have recently apprehended Alejandro Cao de Benos, a key figure in helping Ethereum developer Virgil Griffith breach U.S. sanctions and travel to North Korea. Acting on intelligence, local authorities in Barcelona discovered that Cao de Benos was hiding under a false identity and planning to journey to Madrid by train. On November 30th,
In a bold move that could reshape Hong Kong’s financial landscape, Mr. Chen Zhihua, President of the Hong Kong Securities and Futures Association, has proposed the introduction of an “Initial Coin Offering (ICO) mechanism” in the city. Amidst an ongoing struggle to recover from the economic repercussions of the epidemic, Zhihua believes that leveraging ICOs
In a recent order, a U.S. court has granted permission for Jump Crypto, a “third party” involved in the Securities and Exchange Commission’s (SEC) ongoing case against Terraform Labs, to submit certain information to the court in confidence. This ruling was made on November 28th, adding another layer of complexity to the already controversial case.
Spain’s Tax Administration Agency, Agencia Tributaria, has announced that starting January next year, Spanish citizens must disclose their crypto holdings exceeding 50,000 euros (about $55,000) held on foreign platforms for tax purposes. In order to facilitate this process, the tax agency has introduced Form 721, a declaration form specifically designed for virtual assets held abroad.
In Hong Kong, despite recent fraud scandals involving crypto exchange platforms, the financial regulators have decided to retain the grace period for crypto firms. This grace period allows crypto firms to operate without a license until June 2024, providing them ample time to comply with new regulatory standards. While some may argue that stricter regulations
European Central Bank President Christine Lagarde recently revealed that her own son had experienced significant financial loss as a result of investing in cryptocurrency. Lagarde disclosed that her son had disregarded her warnings and ultimately lost “almost all” of his invested funds. This incident serves as a cautionary tale, highlighting the potential risks and volatility
The Investment Association has announced that the U.K. has given the green light to a project that allows authorized funds to develop tokenization within the investment sector. With the aim of enhancing efficiency, transparency, and competitiveness, this initiative is part of a collaborative effort between the Technology Working Group of the government’s Asset Management Taskforce,
The Monetary Authority of Singapore (MAS) has recently announced expanded regulations to safeguard retail crypto users from potential risks within the growing industry. These new measures are designed to protect consumers and promote responsible practices within the crypto market. MAS has directed Digital Payment Token (DPT) service providers to adopt specific measures aimed at discouraging
In a groundbreaking move, the U.S. Department of the Treasury has taken action against cryptocurrency exchange platform, Binance, and its related parties. The Treasury’s comments on the settlements, released on November 21st, indicate a stern reprimand of Binance’s disregard for legal obligations and an alarming endorsement of illicit activities taking place on its platform. Secretary
