Regulation Financial News

06.09 / 23:37

Law regulation Lawyers Basketball star for a crypto launderer? Alexander Vinnik's lawyers considers prisoner swap: Report

The legal team for Alexander Vinnik, a Russian national recently extradited to the United States for his alleged role at defunct crypto exchange BTC-e, has reportedly been urging officials to consider a prisoner swap.

06.09 / 22:15

Government Stablecoin regulation settlement Russian gov't working on stablecoin settlement platform between friendly nations: State media

Russia's Finance Ministry has reportedly begun working with the governments of “friendly” nations to establish a cross-border stablecoin-based payments platform.

06.09 / 10:17

Blockchain Adoption regulation Crypto assets are no longer niche and regulators need to catch up — IMF

The past few years have seen crypto assets moved from being “niche products” to having more of a mainstream presence, prompting the need for more comprehensive regulation of the space, according to the International Monetary Fund (IMF).

06.09 / 03:01

Law regulation crimes FinCEN Prison Bitcoiner sentenced to federal prison warns users involved in OTC trading

Mark Alexander Hopkins, also known by the moniker ‘Doctor Bitcoin’ or their handle Rizzn, has claimed that “transacting Bitcoin p2p is a federal crime” after announcing the sentence in their case to social media followers.

05.09 / 23:37

regulation audit UK regulators target Revolut for 'material misstatement' in audit: Report

The United Kingdom’s Financial Reporting Council has reportedly found flaws in the audit of cryptocurrency-friendly payments app Revolut tha included an “unacceptably high” risk of “material misstatement.”

05.09 / 22:33

CBDC Adoption regulation RBI Reserve Reserve Bank of India preparing to trial a CBDC with public sector banks and fintechs

The Reserve Bank of India (RBI) is in talks with fintech companies and state-controlled banks about a trial run of a central bank digital currency (CBDC), local publication Moneycontrol reported on Sept. 5. An unnamed public sector bank official told the publication that the trial may precede an RBI launch of a CBDC this fiscal year.

05.09 / 19:39

Adoption regulation NOT Law Decoded, Aug. 29–Sep. 5: Celsius is ready to give money back, but not much

United States-based crypto lending platform Celsius, which collapsed and stopped the withdrawal option amid the market meltdown in June, pledged its readiness to partially return money to customers. However, there’s a catch, as the motion company has filed with the United States Bankruptcy Court, would only apply to Custody and Withold Accounts and for custody assets worth $7,575 or less in value.

02.09 / 22:39

cryptocurrency regulation Georgia Follows EU’s Crypto Regulation Lead, Hopes to Become a ‘Hub’ for the Sector

02.09 / 15:35

Adoption regulation Metaverse South Korea expands its efforts to regulate Metaverse

South Korea continues its immersion in Web3 and the Metaverse. After investing almost $200 million in the creation of its own metaverse ecosystem and publishing the “Metaverse Ethical Principles,” the country’s government is now preparing a “Metaverse Industry Promotion Law.”

02.09 / 15:35

regulation Bitcoin guidelines Thailand SEC Thailand SEC to apply strict guidelines for crypto ads

Thailand’s Securities and Exchange Commission (SEC) will implement stringent advertising rules for cryptocurrency firms operating in the country by October 2022.

02.09 / 06:01

business regulation Banks Bankruptcy Withdrawals Customers Celsius files to reopen withdrawals for a minority of customers

Beleaguered crypto lender Celsius Network has filed a motion with the United States Bankruptcy Court yesterday to allow customers with digital assets held in certain accounts to be withdrawn.

02.09 / 01:05

CFTC regulation SEC open CFTC and SEC open comments for proposal to amend crypto reporting rules for large hedge funds

The United States Securities and Exchange Commission, or SEC, and the Commodity Futures Trading Commission, or CFTC, have called for comments on a proposal which would require large advisers to certain hedge funds to report exposure to crypto.

01.09 / 21:38

CFTC regulation Derivatives Former CFTC commissioner Jill Sommers joins FTX US Derivatives board

Jill Sommers, who served as a commissioner at the United States Commodity Futures Trading Commission, has joined the board of directors for FTX US Derivatives.

01.09 / 14:39

business Binance regulation end Indonesia plans to set up its crypto bourse by the end of 2022

The government of Indonesia returned to its plan to set up a digital assets exchange, publicly announced first time back in 2021. A so-called “crypto bourse” is planned to be established by the end of 2022.

01.09 / 13:07

Law regulation California State Assembly passes bill for licensing and regulating crypto firms

Lawmakers in California State Assembly 71-0 passed the Digital Financial Assets Law, also known as AB 2269, on Tuesday, Aug. 30. The bill is now in the hands of the state’s governor Gavin Newsom, who will either set it into motion or veto it completely.

01.09 / 00:19

NFT regulation Virtual Property A16z proposes a set of licenses especially for NFTs, based on Creative Commons model

Venture capital firm Andreessen Horowitz (A16z) announced Wednesday that it had devised a set of six licenses tailored to nonfungible tokens (NFTs) that are based on the model pioneered by Creative Commons. Like Creative Commons licenses, there is a range of rights available through a variety of the proposed NFT licenses, titled Can’t Be Evil licenses.

01.09 / 00:19

Adoption regulation Decentralization Reserve US Federal Reserve discussion paper takes cold, hard look at DeFi, gives it mixed review

There are more than 1,400 DApps in operation and their number is growing rapidly, according to a United States Federal Reserve Board discussion paper dated in June but released on Aug. 30. Ethereum is their biggest host with 470, or 31%, of them. Those decentralized finance (DeFi) products represent a very small share of the global financial system, but may still pose risks to financial stability, the authors said.

01.09 / 00:19

Law regulation South Korean authorities arrest 16 individuals connected to $2B crypto forex transactions: Report

Authorities with South Korea’s customs service have reportedly arrested 16 people involved in illegal foreign exchange transactions connected to crypto assets worth roughly $2 billion.

31.08 / 21:45

Law regulation Bitcoin tax evasion DC Attorney General sues Michael Saylor and MicroStrategy for tax evasion

Karl Racine, Attorney General for the District of Columbia in the United States, has announced that his office will be suing business intelligence firm MicroStrategy and its co-founder Michael Saylor for charges related to tax evasion.

31.08 / 13:39

cryptocurrency regulation Latin America Bitcoin Paraguay President Squashes Bitcoin & Crypto Mining Bill with ‘Total Veto’

30.08 / 23:59

Government Law regulation lawmaker index Crypto 'cannot be partisan,' says US lawmaker who scored negative on bipartisanship index: Report

United States House of Representatives member Tom Emmer has reportedly suggested that regulating and encouraging innovation in the crypto space should not be a political win for either Democrats or Republicans.

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