Regulation Financial News

07.02 / 23:53

CBDC regulation Laotian CBDC proof of concept project to launch using system pioneered in Cambodia

Japanese financial software firm Soramitsu has announced the signing of a memorandum of understanding with the Bank of the Lao People’s Democratic Republic Payment Systems Department on the launch of a proof-of-concept project for a Laotian central bank digital currency (CBDC). Under the agreement, a digital form of the Lao kip, called the DLak, would launch Feb. 7.

07.02 / 23:11

regulation IRS Staking Support ConsenSys releases statement of support for continuation of the Jarrett tax case

ConsenSys issued a statement Feb. 7 in support of the appeal of the of Jarrett v. United States case concerning the taxation of staking rewards. The case originated in a dispute over a refund of about $4,000 that Joshua and Jessica Jarrett claimed on XTZ tokens they validated in 2019.

07.02 / 20:53

Law regulation crimes Messaging App Judge denies motion allowing SBF to use messaging apps

A federal judge has denied a joint agreement between Sam “SBF” Bankman-Fried’s legal team and prosecutors that would have allowed the former FTX CEO to use certain messaging apps.

07.02 / 17:45

business Binance regulation Trading crimes Huobi exchanges Crypto exchanges tackle insider trading after recent convictions

In January, the brother of a former Coinbase product manager was sentenced to 10 months in prison for wire fraud conspiracy in what prosecutors called the first case of insider trading involving cryptocurrencies. In September 2022, Nikhil Wahi entered a guilty plea for executing trades based on private data obtained from his brother, Ishan Wahi, a former product manager for Coinbase.

07.02 / 16:47

business Law regulation services Dubai releases crypto regulations for virtual asset services providers

The Virtual Asset Regulatory Authority (VARA), the regulator in charge of overseeing cryptocurrency laws within Dubai, has issued new guidelines for virtual asset service providers (VASP) operating within the emirate.

07.02 / 09:27

business Mining regulation Investments Court Bitcoin Power Layer1 CEO alleges co-founder is using majority power to 'ransack' company

The CEO of crypto miner Layer1 Technologies has filed a lawsuit against the firm’s two other board members — including co-founder Jakov Dolic — for allegedly commandeering Layer1's operations for their own gain.

07.02 / 09:27

Law regulation SEC coinbase Court Former Coinbase manager slams SEC in motion to dismiss insider trading case

A former product manager at cryptocurrency exchange Coinbase has moved to dismiss charges of alleged insider trading, with his lawyers arguing the tokens he allegedly traded were not securities.

07.02 / 08:23

CBDC regulation Central Bank Bank of England UK's digital pound would modernize payments but won't replace cash: Minister

The Bank of England (BoE) and U.K. Treasury are gearing up plans to create a digital currency that could "provide a new way to pay" without necessarily replacing cash.

07.02 / 04:33

business regulation Fraud WhatsApp FTX Bankruptcy Lawyers Fried Sam Sam Bankman-Fried lawyers reach agreement on use of messaging apps

Sam Bankman-Fried’s (SBF's) lawyers have reached an agreement with federal prosecutors concerning his use of messaging apps.

06.02 / 23:51

Blockchain Digital regulation Extreme Bitcoin guidelines South Korea Takes Major Step Toward Cryptocurrency Legalization with New Guidelines on Securities Tokens

South Korea has taken a major step towards bringing crypto into the mainstream as the country’s main financial regulator introduces new guidelines on security tokens.

06.02 / 23:45

Stablecoin regulation SEC security Australia and the UK share their big picture of crypto: Law Decoded, Jan. 31–Feb. 6

The U.K. outline of the future financial services regulatory regime for crypto covers a broad range of topics, from the troubles of algorithmic stablecoins to nonfungible tokens and initial coin offerings. And it’s certainly good news for the industry, as the upcoming regulation doesn’t propose a ban on algorithmic stablecoins or excessive requirements on data sharing for digital asset operators.

06.02 / 22:35

regulation DLT MICA Bank of Italy selectively encouraging DLT, preparing for MiCA, governor says

The Bank of Italy is looking for new ways to apply distributed ledger technology (DLT) and is preparing for the advent of Markets in Crypto-Assets (MiCA) regulation, bank governor Ignazio Visco told a congress of Assiom Forex, the Italian financial markets association, on Feb. 4.

06.02 / 21:23

Law regulation FTX Bankruptcy FTX CEO testifies on ‘pure hell’ post-bankruptcy days at exchange

John Ray, who took over as CEO of crypto exchange FTX, has described some of the chaotic experiences at the firm following the company declaring bankruptcy.

06.02 / 17:27

Adoption regulation Hong Kong securities regulator adds crypto personnel for industry supervision

Regulators in Hong Kong are stepping up their game when it comes to monitoring the activities of the crypto industry.

06.02 / 11:49

Adoption regulation crimes Cybercrime Police Interpol global crypto community Terraform Labs Interpol wants to police metaverse crimes, reveals secretary general

The International Criminal Police Organization (ICPO), a.k.a, Interpol, is investigating how it could police crimes in the metaverse. However, a top Interpol executive believes there are issues with defining a metaverse crime.

06.02 / 11:11

regulation security guidance South Korean regulator provides guidance on security tokens

South Korea established guidance that specifies which types of digital assets will be considered and regulated as securities in the country.

06.02 / 11:11

business Binance defi regulation Taxes Crypto users Binance Tax launched to prepare crypto users for the tax season

For many countries, the tax season is right around the corner, which means companies in the crypto industry will need to be ready to help their users comply with local regulations.

05.02 / 07:01

business Adoption regulation Google Funding Bankruptcy Fried Sam Google invests $300M in AI firm previously funded by Sam Bankman-Fried

Google Cloud has reportedly invested $300 million into artificial intelligence (AI) startup firm Anthropic, which also happened to receive over $500 million in funds from former FTX CEO Sam Bankman-Fried about six months before FTX catastrophically collapsed.

05.02 / 04:31

business regulation Scams Fraud us government Press Release New Jersey enforces cease and desist orders against three ‘pig butcher’ scammers

The New Jersey Bureau of Securities has ordered three website operators to stop luring romance-seeking victims into their fraudulent cryptocurrency investment schemes.

05.02 / 00:27

CBDC Adoption regulation Bank of England UK is 'likely' to need digital currency, says BoE and Treasury: Report

The Bank of England (BoE) and Treasury believes the United Kingdom is likely to need to create a central bank digital currency (CBDC) by 2030, according to a Telegraph report on Feb. 4.

04.02 / 13:57

CFTC regulation crypto regulation Agency CFTC Chair: Agency Well-Positioned to Regulate Crypto

The Commodity Future Trading Commission is "well positioned" to address regulatory gaps in the crypto market, according to CFTC Chair Rostin Behnam.

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