Regulation Financial News

21.07 / 19:21

Law regulation coinbase US authorities arrest former Coinbase manager, alleging insider crypto trading

United States authorities have brought charges against three people for wire fraud conspiracy and wire fraud in connection with a scheme to commit insider trading using crypto, one of whom was a former product manager at Coinbase Global.

21.07 / 15:09

regulation Taxes South Korea postpones 20% tax on crypto gains to 2025

The South Korean government has reportedly postponed the 20% tax crypto gains by two years. The controversial 20% tax on crypto gains was supposed to come into effect from January 1, 2023, but now has been deferred to 2025.

21.07 / 13:01

business regulation Bitcoin Strict Thai crypto regulation causes SCB to delay Bitkub acquisition

Thailand’s oldest bank is unable to acquire the country’s largest local cryptocurrency exchange due to stringent crypto regulations.

21.07 / 03:53

regulation Terra New South Korean Crypto Regulator ‘Days Away from Launch’, Government Confirms

The South Korean government is set to come good on a promise to launch a new regulatory agency that will govern the domestic crypto sector in the wake of what it calls the “Terra (LUNAC) incident.”

20.07 / 22:55

Stablecoin regulation legislation Financial UK financial markets bill authorizes regulation of stablecoins, service providers

The Financial Services and Markets Bill was introduced into the UK Parliament on July 20. The comprehensive bill, which was meant to preserve the UK’s leading place in the financial world post-Brexit, repealed retained EU laws, reformed certain insurance laws, supported victims of financial fraud and established new growth and competitiveness objectives. The bill also regulated stablecoins.

20.07 / 19:17

Law regulation Terra raid South Korean authorities raid 15 entities linked to Terra collapse: Report

Prosecutors in South Korea behind the investigation of Terraform Labs have reportedly executed a search and seizure in 15 firms, including seven crypto exchanges.

20.07 / 12:59

Adoption regulation Gemini Gemini receives virtual asset service provider license in Ireland

New York-based crypto trading platform Gemini claims to be the first one to get registered as a virtual asset service provider (VASP) by the Central Bank of Ireland (CBI). Earlier in February 2022, a company received an electronic money institution (EMI) authorization from the CBI.

20.07 / 12:59

regulation SEC us government Crypto Companies US senator blasts SEC for non-judicial actions against crypto companies

Tom Emmer, the Republican Senator from Minnesota, has become the latest politician to blast the United States Securities and Exchange Commission (SEC) for its unethical actions against crypto companies.

20.07 / 12:13

regulation SEC crypto sector US SEC Chief Gensler Says Crypto Sector Rife with ‘Non-compliance’

The head of the US Securities and Exchange Commission (SEC), Gary Gensler, has said that his agency will “do what we can” to ensure crypto operators fall into line, but opined that many are refusing to abide by the rules governing securities.

20.07 / 06:15

Government regulation AML NOT Japan's crypto self-regulation 'experiment' not working

Japan’s self-regulation “experiment” for the crypto industry is reportedly not working as well as intended, according to local government and industry experts.

20.07 / 00:21

regulation Department Of Justice Bitcoin Department US Justice Department seized $500K in fiat and crypto from hackers connected to DPRK government

The United States Department of Justice has seized and returned roughly $500,000 in fiat and crypto from a hacking group tied to the North Korean government, which included two crypto payments made by U.S. health care providers.

19.07 / 21:07

regulation Venture Capital Terra Financial Singapore's financial watchdog pushes back against Terra and 3AC associations

Ravi Menon, the managing director of the Monetary Authority of Singapore, or MAS, said companies often labeled by the media in connection to the recent market volatility as “Singapore-based” were not representative of the country’s approach to crypto regulation.

19.07 / 18:39

Government regulation SEC lawmaker NOT US lawmaker criticizes SEC enforcement director for not going after 'big fish' crypto exchanges

Brad Sherman, the congressperson who previously called for banning cryptocurrencies in the United States, criticized the Securities and Exchange Commission’s approach to enforcement among major crypto exchanges.

19.07 / 03:15

regulation Trading Bitcoin Premium South Korean Regulators Close the Net on Opportunistic Kimchi Premium Traders

A South Korean financial regulator is set to go on the warpath in search of kimchi premium traders – and is vowing to bring suspected offenders to justice.

19.07 / 01:33

Stablecoin regulation Circle Circle CSO lays out policy principles for stablecoins in US

Dante Disparte, Circle’s chief strategy officer and head of global policy who has previously testified at congressional hearings, has called on United States lawmakers to balance the risks with developing a regulatory path for stablecoins.

18.07 / 16:59

Blockchain Adoption regulation copyrights Will intellectual property issues sidetrack NFT adoption?

The rapidly growing but loosely regulated nonfungible token (NFT) industry already touches many areas of human endeavor “from academia to entertainment to medicine, art, and beyond,” wrote recently two United States senators in a letter to the U.S. Patent and Trademark Office (USPTO) and the U.S. Copyright Office. The legislators were requesting a study to explain how this emerging technology fits into the world of intellectual property (IP) rights, including copyrights, trademarks and patents.

18.07 / 08:51

CBDC regulation Central Bank Australian Australian central bank governor favors private sector crypto technology

Australian central bank Governor Phillip Lowe said that a private solution “is going to be better” for cryptocurrency as long as risks are mitigated through regulation.

18.07 / 05:57

Adoption Mining regulation South America crypto framework Framework Paraguay’s crypto framework one step away from becoming law

The Paraguayan Senate passed a bill on July 14 establishing a tax and regulatory framework for businesses operating in the cryptocurrency and the crypto mining sectors.

16.07 / 15:51

Blockchain Technology Adoption regulation Rethinking approaches to regulation of the Fourth Industrial Revolution

Mass adoption of technologies of the Fourth Industrial Revolution (4IR) potentially could trigger an even larger than projected transition to a new taxonomy of regulation concerning various fields of human life, including that of finance and the market itself. New technologies are enabling new concepts, systems and frameworks, such as driverless cars, drone postal deliveries and central bank digital currencies (CBDC). In the foreseeable future, the role of technology in our society would be exceeding the boundaries of an elementary subsystem, where its regulation would be designated to the stakeholders or the market itself.

16.07 / 00:35

Government regulation SEC Lee Financial SEC commissioner Allison Lee departs, readying financial regulator for Jaime Lizárraga

Allison Herren Lee, one of five members of the United States Securities and Exchange Commission’s board, has officially left the regulatory body after more than three years as a commissioner.

16.07 / 00:35

regulation Bitcoin lawmakers Consumption US lawmakers US lawmakers ask about EPA, DOE monitoring of crypto mining emissions, energy consumption

Democratic legislators from both houses of the United States Congress have sent a letter to the Environmental Protection Agency (EPA) and Energy Department (DOE) to inform them of their findings on the energy consumption of cryptocurrency mining and asking the agencies to require mining to report their emissions and energy use. Meanwhile, the Paraguayan Senate, the upper house of that country’s legislature, has passed a comprehensive bill to regulate cryptocurrency and allow miners to use excess electricity generated in the country.

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