TrustToken and TrueCoin, the driving forces behind the TrueUSD (TUSD) stablecoin, recently reached a notable settlement with the U.S. Securities and Exchange Commission (SEC). The settlement was influenced by allegations suggesting that the companies engaged in fraudulent and unregistered offerings of investment contracts, raising substantial concerns regarding investor protection in the rapidly evolving landscape of
Regulation
In a bold legislative move, Ohio State Senator Niraj Antani has introduced a bill that seeks to authorize the use of Bitcoin and other cryptocurrencies for fulfilling state and local tax obligations. This initiative, unveiled on September 30, signals a significant shift towards the incorporation of digital assets in the realm of governmental financial transactions.
In a significant milestone for the cryptocurrency landscape in Hong Kong, the Hong Kong Virtual Asset Exchange (HKVAX) has received licensing from the Securities and Futures Commission (SFC) to operate a regulated virtual asset trading platform. This development solidifies HKVAX’s status as the third licensed crypto exchange in the territory, marking it as the first
Japan’s Financial Services Agency (FSA) stands at a pivotal juncture, contemplating profound changes to its crypto regulations. As reported by Bloomberg News, on September 25, the FSA is set to undertake a critical reassessment that could reshape the investment climate for digital assets by 2025. The agency’s review aims to evaluate whether the current framework
Ripple has recently achieved in-principle approval from the Dubai Financial Services Authority (DFSA), a milestone that positions it as the first blockchain-based payment service provider licensed by the DFSA. This development reflects Ripple’s strategic ambition to enhance financial services innovation across the United Arab Emirates (UAE), further cementing its status as an internationally recognized regulatory
In a significant decision, the United States Court of Appeals for the District of Columbia Circuit has ruled that prediction markets, which allow individuals to place bets on the outcomes of U.S. elections, are legal. This landmark ruling, issued on October 2, 2023, dismisses an appeal from the Commodity Futures Trading Commission (CFTC) that sought
The Securities and Exchange Commission (SEC) has intensified its ongoing legal struggle against Ripple Labs, a case that continues to send shockwaves throughout the cryptocurrency sector. Following a federal court’s mixed ruling in August, the SEC officially initiated an appeal to the Second Circuit Court of Appeals on October 2, 2024. This latest move comes
The UK’s Financial Conduct Authority (FCA) and the Bank of England have embarked on an ambitious venture with the introduction of the Digital Securities Sandbox (DSS). Scheduled to remain operational until December 2028, this initiative serves as a large-scale experimental platform for firms to delve into distributed ledger technology (DLT) and tokenized securities. The implications
Dubai is taking critical measures to bolster investor confidence within its burgeoning cryptocurrency landscape. The Virtual Assets Regulatory Authority (VARA) has unveiled new marketing regulations that will come into effect on October 1. These updated guidelines are primarily designed to elevate consumer safety and tackle the misleading narratives often associated with the volatile world of
On September 25, 2023, South Korea’s Personal Information Protection Commission (PIPC) took significant action against Worldcoin and its affiliate, Tools for Humanity (TFH), by imposing a substantial collective fine totaling KRW 1.14 billion (approximately $861,408). This move highlights the increasing scrutiny surrounding biometric data collection practices and the responsibilities that entities must uphold to comply
