Regulation Financial News

12.07 / 08:41

business Law regulation Bankruptcy Celsius files lawsuit to recover $150M from staking platform StakeHound

Bankrupt crypto lender Celsius Network has filed a lawsuit against liquid staking platform StakeHound after the company allegedly failed to return $150 million worth of tokens owned by Celsius.

12.07 / 03:01

Adoption regulation Europe European Union virtual reality Metaverse augmented reality ‘Extended reality’ to create 860K jobs by 2025: EU Commission

The European Commission has tipped “extended reality” — technology that enables people to interact with virtual worlds — will create as many as 860,000 jobs in Europe by 2025.

11.07 / 22:19

Law regulation Grayscale Court Grayscale resolves lawsuit with Fir Tree over proposed changes to Bitcoin Trust

Grayscale Investments has reached an agreement with New York-based investment firm Fir Tree Capital Management over its Bitcoin Trust.

11.07 / 22:19

regulation Senate Taxes letter committee open US Senate Finance Committee asks digital asset community how to tax it in open letter

United States Senate Financial Services Committee Chair Ron Wyden and ranking member Mike Crapo released an open letter to the digital asset community on July 11 asking for input on the taxation of digital assets. The senators are looking for solutions to highly complex taxation issues, so much so that they offered background reading from the Joint Committee on Taxation to prepare respondents.

11.07 / 20:49

Government Law regulation Derivatives UK treasury regulatory UK Treasury plans to exclude derivatives and 'unbacked' tokens from regulatory sandbox

The treasury department of the United Kingdom has proposed excluding unbacked cryptoassets and derivatives from its plans for a Digital Securities Sandbox.

11.07 / 18:15

regulation crimes Donations FTX US authorities are investigating former FTX exec for potential campaign finance violations: Report

Prosecutors in New York are reportedly looking into former FTX Digital Markets co-CEO Ryan Salame for potential violations of campaign finance law in the United States.

11.07 / 18:15

business Blockchain Adoption regulation Investments Bitcoin Blackrock Bitcoin Etf BlackRock Bitcoin analyst BlackRock Bitcoin ETF could unlock $30 trillion worth of wealth, Bloomberg analyst says

$30 trillion worth of capital could suddenly unlock for the Bitcoin market if a Bitcoin spot ETF is approved by the U.S. Securities and Exchange Commission, according to Bloomberg ETF analyst Eric Balchunas.

11.07 / 14:07

regulation companies SVB Bankruptcy Silicon Valley Bank SVB's former owner sues US banking watchdog to recover $1.9bn

The cash balance, which is held in an account at its banking subsidiary, has been described as “the most significant asset” of the SVB Financial estate, the group said.

11.07 / 14:07

regulation Financial Services Wealth managers Asset Managers Fund managers Lawyer Lawyer of alleged Odey victims calls on FCA to ringfence Odey AM assets

She wanted to ensure Odey AM retains enough funds to cover any potential redress the claimants may be awarded in either civil or criminal proceedings.

11.07 / 14:05

regulation us government Senate Senators US Senators to have classified AI briefing at the White House

Senators in the United States will be briefed by the White House regarding artificial intelligence (AI) as lawmakers continue to mull over regulations for the technology.

11.07 / 11:59

Adoption regulation PwC Self Custody Crypto custody market reached $448 billion in 2022: Report

The digital asset industry reached over $3 trillion at its peak in November 2021. However, the custodial part of the market remained at the more modest mark of $447.9 billion in 2022.

11.07 / 11:59

business regulation ChatGPT generative AI Report: China to tighten rules around releasing generative AI tools

The Chinese government is considering additional regulations on artificial intelligence (AI) development that emphasize content control and licensing.

11.07 / 11:59

Blockchain Stablecoin CBDC Adoption regulation Usd Coin China could benefit from yuan stablecoin over its CBDC - Circle CEO

China has long since closed its doors to decentralized cryptocurrencies, but Circle CEO Jeremy Allaire believes that stablecoins could play a role in the proliferation of China’s digital yuan.

11.07 / 11:59

business regulation UK government Financial Services ATM UK FCA shuts down 26 crypto ATMs following coordinated investigation

The United Kingdom’s financial regulator, the Financial Conduct Authority (FCA), “disrupted” 26 of the 34 cryptocurrency ATMs it visited and inspected since the start of 2023.

11.07 / 06:57

business Law regulation SEC Court Bittrex SEC is ‘wrongfully attempting’ to police crypto markets — Paradigm counsel

Crypto investment firm Paradigm’s special counsel Rodrigo Seira has slammed the United States securities regulator for “wrongfully” pursuing crypto exchange Bittrex in an attempt to police secondary crypto markets.

11.07 / 02:13

regulation exchanges BitOasis Suspends Dubai crypto regulator suspends BitOasis crypto exchange license

Dubai’s cryptocurrency regulator has suspended the license of crypto exchange BitOasis for not meeting mandated conditions within the timeframes set out by the authority.

10.07 / 21:51

Stablecoin CBDC regulation Bank of England BOE governor trashes crypto, stablecoins in favor of ‘enhanced digital money’

Andrew Bailey, a Bank of England (BOE) governor, delivered a speech July 10 in which he moved smoothly from the central bank’s efforts to control inflation and maintain public trust in financial institutions to why cryptocurrencies are not money. Instead of cryptocurrencies and stablecoins, he would prefer “enhanced digital money.”

10.07 / 21:07

Twitter regulation From Thailand to South Africa, regulators tighten their grip on crypto: Law Decoded, July 3–10

Last week saw more rules and regulations emerge regarding digital assets. Thailand’s Securities and Exchange Commission issued new rules requiring digital asset service providers to warn customers of risks associated with cryptocurrency trading. The warning message must be clearly visible, and before customers can use the service, the business operator must arrange for the users to give consent and acknowledge the risks. Apart from a trading risks disclaimer, the new guidelines prohibit service providers from using customers’ funds for lending or investment.

10.07 / 21:07

Government regulation Congress Winter Olympics lawmakers CCP US lawmakers Prometheum US lawmakers allege CCP connection in calling for SEC, DOJ investigation of Prometheum

Six members of the United States Congress have called on the U.S. Securities and Exchange Commission (SEC) and Department of Justice to investigate Prometheum, claiming the firm has ties to the Chinese Communist Party.

10.07 / 19:57

Stablecoin regulation security DLT Parliamentary report recommends Canada recognize, strategize blockchain industry

A Canadian House of Commons committee report has recommended that the country “recognize blockchain as an emerging industry,” and take all the steps that entails. There are a lot of steps needed, it said.

10.07 / 19:57

Law ETF regulation Investments SEC Grayscale Bitcoin Lawyers Grayscale lawyers refer to SEC allowing Volatility Shares’ investment vehicle in push for ETF

Digital asset manager Grayscale has filed a letter in its lawsuit against the United States Securities and Exchange Commission (SEC) over the rejection of a spot Bitcoin exchange-traded fund (ETF), citing a possible precedent in furtherance of its case.

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