Regulatory Financial News

In cryptocurrency's ever-evolving landscape, Bitcoin's price continues to capture attention as it trades at $29,723, experiencing a slight decrease of nearly 0.50% on Monday.

BofA upgraded shares of Consolidated Edison (NYSE:ED) to Buy from Neutral, lifting the price target from $92 to $103 in a note to clients on Friday.

Trai issues recommendations on AI, says regulatory framework for development of responsible AI urgently needed, which is applicable across sectors.

Nasdaq has scrapped plans for a cryptocurrency custody service amid recent regulatory challenges. 

Coinbase’s “Earn” program is particularly vulnerable to regulatory action following the recent ruling in the case between Ripple and the US Securities and Exchange Commission (SEC), a report from investment firm Berenberg Capital has warned.

Microsoft Corp. has taken a strategic step in its pursuit of acquiring Activision Blizzard by extending the agreement for the $69 billion acquisition until October 18, 2023. The extension aims to overcome remaining regulatory obstacles and create one of the largest video game developers globally. Negotiations led to revised terms, including termination fees, in case the deal does not go through after specific dates. The original deadline for the $69 billion acquisition of Activision Blizzard by Microsoft was set for July 18. However, to address regulatory concerns and ensure a smooth merger process, both companies have agreed to extend the deal deadline until October 18, 2023. This extension allows them to navigate and resolve any remaining hurdles.

The deadline for Microsoft’s $69 billion acquisition of video game company Activision Blizzard has been extended to as the companies seek to close a deal that has been opposed by regulators in the U.S. and the U.K.’s Competition and Markets Authority

Nirmala Sitharaman on Tuesday said the issue of cryptocurrencies was discussed at a key G20 meeting here to make a comprehensive, cohesive and coordinated global policy and regulatory framework for these digital assets. She said members of Group of 20 or G20, an intergovernmental forum of the world's major developed and developing economies, reaffirmed their commitment to enhance international economic cooperation.

The major US-based crypto exchange Coinbase is still facing pressure from the Securities and Exchange Commission (SEC), despite the recent win in court for Ripple.

JPMorgan marks its trade

Rajeev Chandrasekhar has said that the ministry will approach the Goods and Services Tax (GST) Council about the new framework for online gaming only after the framework is actually in place. “After the nascent n evolving regulatory framework around the online gaming rules that define permissible online games develops — then we will communicate new framework to gst council amd rqst them to consider this new framework,” he tweeted on Tuesday, in his unique style.

Caroline Pham, one of five commissioner of the Commodities Futures Trading Commission, believes the path to United States crypto regulatory clarity has been laid out following Ripple’s partial victory.

Multiple data points point to Bitcoin price falling below $29,000 in the short term. 

The future is bright for euro-denominated stablecoins, according to Patrick Hansen, European Union strategy and policy director at Circle. The United States dollar may preserve its first-mover advantage, but euro stablecoins will see increasing real-world use cases emerge to lift them above their current meager market share, Hansen said at EthCC in Paris.

Telecom Regulatory Authority of India (Trai) has extended the deadline for stakeholder comments and counter-comments on its recent discussion paper on creating a holistic framework to drive cutting-edge tech innovation in digital communications via transparent and safe live testing environments, popularly known as regulatory sandboxes. Trai has now sought comments and counter-comments on the consultation paper by July 31 and August 16 respectively after stakeholders sought more time.

Reuters said that governments across the globe are looking at ways to mitigate the dangers of growing AI technology which has the potential to change the global economy and international security landscapes. The hype around AI and its regulation grew after the advent of generative AI technology like OpenAI's ChatGPT and Google Bard.

The events of the past year have highlighted the intrinsic volatility and structural vulnerabilities of crypto-assets and related players. The global standards body is concerned that if linkages to traditional finance were to grow further, spillovers from crypto-asset markets into the broader financial system could increase.Regulatory authorities across multiple jurisidtions have been recommended to apply nine key objectives, with the objective of establising a global regulatory baseline.The framework consists of two distinct sets of recommendations for the oversight of crypto-asset activities and markets and the supervision of global stablecoin arrangements.

New Delhi: Arvind Kumar , advisor for industries to the Uttar Pradesh chief minister, has been appointed as the chairman of the Uttar Pradesh Electricity Regulatory Commission (UPERC). Kumar succeeds Raj Pratap Singh whose tenure ended in June.

The United States Securities and Exchange Commission (SEC) has accepted https://www.sec.gov/rules/sro/nasdaq.htm application for a spot Bitcoin (BTC) exchange-traded fund (ETF) following its acknowledgment of a similar application by Bitwise the day before.

Cryptocurrencies were testing year highs on Friday as a run of favourable regulatory and investment moves have started to shift momentum in markets that had been stuck in a rut for months.Bitcoin traded at its highest price since June 2022 overnight, touching $31,818 on the Bitstamp exchange. It is up more than 90% for the year so far and nearly 30% in a month. Second-biggest token Ether had its best session since March and Ripple, which a U.S. judge ruled could be legally sold on public crypto exchanges, soared 73%. «The regulatory environment is changing,» said Matthew Dibb, chief investment officer at crypto asset manager Astronaut Capital. «And by what we have seen in the last 24 hours, it could be for the better.»

Japan with a vibrant crypto scent — but Japan is one of the many countries that took a proactive approach towards fostering Web3 after realizing its potential worldwide. In order to retain its talent at home and create a better infrastructure for adoption of virtual digital assets, Japan has undertaken a number of regulatory steps. Amid the global turmoil caused by the volatile crypto ecosystem and its consequential effects on users, Japan has proactively introduced preemptive measures to tackle these challenges and maintain a competitive edge. From the very beginning, it supported builders and creators in Web3 suggesting that the country is enthusiastic about the growing ecosystem and it was not just due to a vast user base. It has been tweaking regulations on a rolling basis to address challenges faced by users or other stakeholders and working towards the best interest for all parties with a dedicated ‘resolution team’. Its progressive attitude towards integration of blockchain is what has made it stand apart. From government backed Metaverse offices, to corporates like Mitsubishi, Fujitsu, Rakuten foraying in the space, Japan’s efforts reflect the concentrated approach at winning the Web3 revolution after the missed opportunity in Web2.