Regulation Financial News

20.10 / 13:05

regulation European Union MICA European Banking Authority, ESMA issue crypto entity suitability guidelines

The European Banking Authority (EBA) and the European Securities and Markets Authority (ESMA) jointly released a consultation paper on Oct. 20 featuring two drafts. These drafts encompass the assessment of the suitability of management body members and shareholders or members holding qualifying stakes in issuers of asset-referenced tokens (ARTs) and crypto asset service providers (CASPs).

20.10 / 09:53

CBDC regulation Europe European Union Euro EU data protection regulators urge anonymity for smaller transactions in digital euro

On Oct. 18, the European Data Protection Board and the European Data Protection Supervisor issued a joint statement on regulating a digital euro, as proposed by the European Commission in July 2023. The regulators made several recommendations to enhance the personal data protection standards for the European Union central bank digital currency (CBDC).

20.10 / 09:53

Law regulation crimes FTX Court Prosecutors argue ‘effective altruism’ inadequate in Bankman-Fried case

In the fraud trial of Sam Bankman-Fried, prosecutors have requested the judge inform the jury that the defendant’s assertion that he is an effective altruist should not serve as a legitimate defense. Bankman-Fried faces allegations of misappropriating billions of dollars from FTX customers for personal purposes, such as political contributions, real estate and investments.

20.10 / 04:49

regulation virtual reality Metaverse Communications augmented reality Metaverse tech gets US greenlight to use speedier 6GHz frequency

Low-power wearable technology, including virtual and augmented reality devices crucial to the metaverse, will be permitted to tap into the 6 GHz frequency band following a rule change from the United States communications regulator.

20.10 / 04:49

business Binance regulation Europe European Union Euro services Crypto exchange Binance restores euro services after new fiat partners

Crypto exchange Binance has announced it has onboarded new partners to handle euro deposits and withdrawals, months after losing its previous fiat partner PaySafe in September.

19.10 / 21:49

Law Ripple regulation SEC Court SEC moves to dismiss lawsuit against Ripple’s Brad Garlinghouse and Chris Larsen

Lawyers representing the United States Securities and Exchange Commission announced they will seek to dismiss all claims against Ripple CEO Brad Garlinghouse and co-founder Chris Larsen.

19.10 / 19:45

regulation sanctions Money laundering Mixers Crypto mixers FinCEN proposes designating crypto mixers as money-laundering hubs

The United States Treasury Department's Financial Crimes Enforcement Network, or FinCEN, has proposed designating cryptocurrency mixing as an area of "primary money laundering concern" following Hamas’ attack on Israel.

19.10 / 19:45

regulation Europe privacy European Union Court US surveillance and facial recognition firm Clearview AI wins GDPR appeal in UK court

U.S. surveillance and facial recognition firm Clearview AI has won a court appeal in the United Kingdom after being accused of alleged infractions related to the U.K’s general data protection regulation (GDPR).

19.10 / 17:27

Law regulation Money laundering Terrorism Advocacy groups push back against Sen. Warren linking crypto with terrorism

United States-based crypto advocacy organizations are calling out Senator Elizabeth Warren and other lawmakers for some of the claims made regarding connections between the terrorist group Hamas and financing through cryptocurrency.

19.10 / 17:07

regulation Parliament UK government FCA House of Lords House of Lords to 'scrutinise' relationship between UK regulators and government

'A common area of concern arising from all these inquiries is the relationship between the regulator and the Government, and the level of independence and accountability regulators have.'

19.10 / 12:40

regulation Tokens Tokenomics BIS US OCC to host discussion on tokenization of real-world assets

The United States Office of the Comptroller of the Currency (OCC), an independent bureau of the U.S. Treasury Department that supervises national commercial banks in the country, will host a symposium on tokenization in February 2024.

19.10 / 12:40

business Law Binance regulation SEC Court exits Binance France director resigns, adding to list of exits from crypto exchange

Stéphanie Cabossioras has stepped down from her role as the executive director of Binance France, becoming at least the 10th senior executive to leave Binance this year.

19.10 / 12:40

Blockchain regulation IRS Taxes Bitcoin Threat IRS crypto tax reporting rules threat to industry — Coinbase legal chief

Coinbase crypto exchange chief legal officer Paul Singh Grewal called upon the crypto community to join the movement against the United States Treasury’s proposed tax reporting regulations on cryptocurrencies. Grewal urged the community to oppose the proposed regulations as it could set a dangerous precedent for surveillance.

19.10 / 12:40

regulation Banks banking Digital Asset guidance Inspector General wants FDIC to refine crypto risk assessment process, guidance

The Inspector General’s Office (OIG) of the Federal Deposit Insurance Corporation (FDIC), the independent United States government body that provides deposit insurance to commercial and savings banks, has published an evaluation report on the corporation’s crypto asset risk strategy. A redacted version of the report has been released to the public.

19.10 / 12:39

regulation Gemini Digital Currency Group New York Attorney General sues Gemini, Genesis, DGC for allegedly defrauding investors

New York’s attorney general has filed a lawsuit against cryptocurrency firms Gemini, Genesis and Digital Currency Group for allegedly defrauding investors through the Gemini Earn investment program.

19.10 / 12:39

CBDC Digital Currency regulation Europe European Union Euro ECB officials move to 'preparation phase' for digital euro

The governing council of the European Central Bank (ECB) has announced it will begin the ”preparation phase” for the digital euro project following a two-year investigation.

19.10 / 12:39

regulation BitPanda BitPanda crypto exchange gets license in Norway amid European expansion bid

One of the largest European crypto exchanges, a Vienna-based BitPanda, became one of the first foreign entities to receive a virtual assert service provider license in Norway. The announcement came on the company’s official X (former Twitter) account on Oct. 19.

19.10 / 12:39

Blockchain Law regulation Altcoin supply Sui token struggles to regain despite denial of ‘unfounded’ allegations

Sui’s native SUI token has struggled to regain ground after plunging more than 9% amid allegations from South Korean regulators, which have accused the Sui Foundation of manipulating the supply of the token for its own gain.

19.10 / 12:39

CBDC Adoption regulation Europe European Union Euro Finland works on instant payments system, embraces digital euro

The Bank of Finland (BOF) is coordinating the creation of a Finnish instant payment solution compatible with European standards. Tuomas Välimäki, BOF board member and member of the Governing Council of the European Central Bank (ECB), made the announcement on Oct. 19.

19.10 / 12:39

Blockchain regulation Bitcoin Coinbase selects Ireland as its European crypto hub

The United States-based cryptocurrency exchange Coinbase is strengthening its presence in Europe and has officially announced Ireland as its European crypto hub of choice.

19.10 / 12:39

Law regulation SEC elon strategies Elon Musk, Mark Cuban team up to contest SEC trial strategies

Elon Musk, Mark Cuban and others have collaboratively submitted a shared amicus brief to the Supreme Court of the United States to raise concerns about the U.S. Securities and Exchange Commission’s (SEC) approach to conducting internal proceedings without the inclusion of juries.

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