Regulation Financial News

18.05 / 05:51

regulation Kraken Gambling UK government lawmaker Kraken, UK trade body derides lawmaker description of crypto as 'gambling'

Self-regulatory organization CryptoUK and crypto exchange Kraken UK has slammed a recent report from a panel of British lawmakers that suggested crypto should be regulated in a similar vein to gambling.

18.05 / 05:19

business Ripple regulation SEC Court Lawyer Ripple case: SEC Hinman docs could become public by June 6, lawyer suggests

Defense lawyer and former federal prosecutor, James K. Filan, expects the infamous Hinman Speech documents to be released to the public by June 6, citing a previous court order.

18.05 / 04:05

Blockchain regulation crimes bills policies lawmakers crypto rules Korean lawmakers rally towards crypto rules in May after grisly murder case: Report

Lawmakers from South Korea are pushing to enshrine stricter regulation of digital assets in the wake of a gruesome murder case involving digital assets.

18.05 / 03:43

regulation Europe European Union Banks Opinion Central Bank There's a growing case for allowing crypto firms to bypass banks

Within 11 days in March, four banks in the United States and one in Switzerland collapsed. First Republic Bank followed in May. Three of the four largest-ever U.S. bank failures occurred in those two months. It was a painful reminder that banks bear significant risks that can quickly spill over to other industries.

17.05 / 23:07

regulation Altcoin SEC Filecoin SEC warns Filecoin 'meets definition of a security' — Grayscale

The United States Securities and Exchange Commission (SEC) believes Filecoin’s native FIL token is a security, crypto asset manager Grayscale Investments has revealed.

17.05 / 20:11

regulation Trading FATF IMF Pakistani finance minister says crypto will never be legal because of FATF

Pakistan will ban cryptocurrency services operating in the country and never legalize crypto trading, Minister of State for Finance Aisha Ghaus Pasha said at a session of the Senate Standing Committee on Finance and Revenue on May 16, according to multiple local media reports. Other officials, including State Bank of Pakistan director Sohail Jawad, spoke in favor of the decision.

17.05 / 18:07

Stablecoin regulation legislation House Financial Services hearing Stablecoin Bill Rep. Maxine Waters Ushers In Stablecoin Bill Ahead of Thursday House Hearing

Rep. Maxine Waters is ushering in a draft bill to regulate stablecoins ahead of a House hearing this week.

17.05 / 17:21

regulation Trading Digital Asset China state-owned Greenland to apply for Hong Kong virtual asset trading license

A Greenland Holdings subsidiary is applying for a virtual asset trading license in Hong Kong, the South China Morning Post reported. It is the first state-owned Chinese company to do so.

17.05 / 13:07

regulation Gambling UK crypto regulation Sky News MPs Influential UK MPs Push for Crypto Trading to be Classified as Gambling

The UK Treasury Select Committee has suggested the country regulate cryptocurrency trading as a form of gambling rather than a financial service.

17.05 / 09:21

regulation Silicon Valley Bank Bank Execs Face Senate Ire for Blaming Bank Collapse on Crypto While Amassing Millions

US Senators have slammed executives of failed banks for trying to deflect blame away from their poor management practices and toward digital asset firms.

17.05 / 08:29

Adoption NFT regulation Chinese prosecutors to crack down on 'pseudo-innovation' in NFT market

On May 15, the Supreme People’s Procuratorate of the People’s Republic of China, the national agency responsible for legal prosecution, shared its thoughts on the non-fungible token (NFT) market. In an article published, three authors laid out the prosecutors’ vision of the market risks and the following reasons to enforce it more actively.

17.05 / 03:07

Blockchain regulation Trading Gambling UK government Bitcoin lawmakers Crypto retail trading should be regulated as gambling: UK lawmakers

The trading of so-called “unbacked cryptoassets” such as Bitcoin (BTC) and Ether (ETH) should be regulated as gambling rather than a financial service, a panel of British lawmakers said in a new report.

17.05 / 01:19

Ripple regulation SEC coinbase Ripple CEO Accuses US Regulator of ‘Hypocrisy’ on Twitter

Ripple CEO Brad Garlinghouse did not hold back on Twitter in criticizing the US Securities and Exchange Commission for its “hypocrisy” in public statements about the cryptocurrency industry.

16.05 / 19:47

defi regulation Microsoft us government IBM Sam hearing ai safety OpenAI CEO Sam Altman testifies in ‘historic’ Senate hearing on AI safety

Sam Altman, the CEO of OpenAI and co-founder of Worldcoin, recently testified before Congress alongside IBM’s chief of trust, Christina Montgomery, and NYU professor Gary Marcus.

16.05 / 18:17

regulation European Union Taxes MICA Updated European tax directive requires reporting on all crypto asset transfers

The European Council has approved updated rules that extend tax reporting requirements to include transfers of crypto assets. This is the eighth version of the Directive on Administrative Cooperation (DAC), which is a set of procedures for automatic information sharing between European governments for tax purposes.

16.05 / 17:23

ETF regulation SEC valkyrie regulatory Valkyrie Goes for a Leveraged Bitcoin Futures ETF Dubbed 'BUFD' in Regulatory Filing

Asset management firm Valkyrie filed an application to a US regulator to launch a leveraged bitcoin futures ETF with an interesting ticker symbol.

16.05 / 15:39

regulation SEC coinbase European Union Investment Today in Crypto: BlockFi to Liquidate Platform as Selling It Wouldn’t Generate Enough Value, Justin Sun Fires a Round of Accusations at Huobi Founder’s Brother, Digital Yuan Enters Vietnam Border Region

Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.__________

16.05 / 13:27

regulation SEC Crypto community responds to US democrats backing SEC’s crypto authority

The United States Democratic Party has expressed its intent to back the Securities and Exchange Commission’s (SEC) total authority over crypto in a memo circulated among committee members before a hearing. The documents were shared on social media, causing backlash from crypto community members.

16.05 / 10:03

Law regulation lending Court Bitcoin creditors Customer BlockFi used customer money to buy $30M insurance, creditors claim

Disgruntled creditors of the bankrupt cryptocurrency lending firm BlockFi have submitted a new court filing in response to the company’s latest restructuring plan.

16.05 / 09:55

business regulation lending Celsius Whale Withdrawals Crypto bank runs in 2022 catalyzed by institutional withdrawals: Research

The 2022 crypto bank runs — caused by the failure of multiple ecosystem giants — have had a lasting impact on the crypto industry. A new research report from the Federal Reserve Bank of Chicago (FRBC) has identified several key factors and catalysts that accelerated last year’s crypto crisis.

16.05 / 09:55

Adoption regulation Europe European Union MICA EU Council approves MiCA for clear crypto regulation

European Union Council members have given the final green light on the highly-anticipated Markets in Crypto-Assets (MiCA) legislation following a voting process on May 16.

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