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
Regulation
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
Binance, one of the largest cryptocurrency exchanges in the world, recently issued a statement addressing the resolution of investigations by the U.S. Department of Justice (DOJ) and other agencies. The company admitted to past wrongdoing and expressed its satisfaction in resolving the investigations. However, upon closer examination of the statement, several concerns and shortcomings can
The U.S. Securities and Exchange Commission (SEC) has recently taken legal action against the cryptocurrency exchange Kraken. The SEC alleges that Kraken has been operating as an unregistered securities exchange, broker, dealer, and clearing agency, violating the law. This article will provide an in-depth analysis of the charges filed by the SEC against Kraken and
The year 2023 has witnessed a significant surge in the focus on digital asset regulation, with various legal frameworks proposed worldwide to enhance the safety and integrity of the industry. Among these frameworks, the European Union’s adoption of the Markets in Crypto Assets (MiCA) framework stands out. While many countries acknowledge the importance of implementing
The road to approval for a spot Bitcoin ETF has taken an interesting turn as securities regulators are now instructing applicants to handle funds in a specific way. Bloomberg analyst Eric Balchunas reports that the SEC’s Trading & Markets division has engaged with exchanges regarding spot Bitcoin ETF 19b-4s, specifically advising them to consider cash
In a recent filing with the Securities and Exchange Commission (SEC), Fidelity Investments has applied for a spot Ethereum exchange-traded fund (ETF). This move comes shortly after Fidelity’s competitor, BlackRock, submitted a similar filing for its own spot Ethereum ETF. With the two largest asset managers in the world entering the cryptocurrency ETF race, the
