Regulatory Financial News

Taiwan legislators are working towards presenting the country's first crypto regulatory bill in November 2023, according to an exclusive interview granted to the Block's Timmy Shen.

The Canadian Securities Administrators (CSA) has provided guidance to exchanges and cryptocurrency issuers on its interim approach to what it calls value-referenced crypto assets, with a particular focus on stablecoins.

(Reuters) — Australian gold miner Newcrest Mining (OTC:NCMGF) on Friday said Newmont Corporation, its suitor for a proposed A$26.2 billion ($16.68 billion) buyout, had received all government regulatory approvals required for the deal to go through.

Crypto firms in the Netherlands, including Bitvavo and Coinmerce, have achieved a partial victory in their legal battle against fees totaling $2.3 million imposed by Dutch regulators. They argued that these fees were excessive and discriminatory.

Although Eastern Asia - once a top market - has seen a decline in crypto activity over the past several years, Hong Kong may provide the region with "a potential tailwind," according to research firm Chainalysis.

On Wednesday, Bitcoin faced a modest decline of nearly 0.50%, with its trading price settling at $27,412. However, this slight dip belies the cryptocurrency's resilient performance over the past week, witnessing an impressive surge of nearly 4%. 

Cryptocurrency trading firm and liquidity provider GSR's Singaporean subsidiary, GSR Markets Pte. Ltd, has received an in-principal approval from the Monetary Authority of Singapore (MAS) for a Major Payment Institution (MPI) license. 

Ackman’s firm, Pershing Square Capital Management, said the SPARC will target companies seeking to raise at least $1.5bn.

The WFE released these recommendations earlier this week, which are:

The World Federation of Exchanges, WFE has shared its suggestions for the digital asset sectors as user adoption and regulatory fears surges. 

The industry is «facing regulatory scrutiny around greenwashing, new and more demanding disclosure requirements, and increasing expectations from supervisors», KPMG said.

Crypto regulation in the Netherlands has led Gemini to discontinue its services in the country. In an email sent to users today, the exchange announced that it will cease offering its services starting November 17, 2023. 

Taiwan’s crypto community is coming forward to establish a working group in mid-October to “effectively integrate” digital currency adoption and self-compliance, in a move to “establish an effective and smooth communication channel with the government.”

India is currently witnessing an alarming surge in cryptocurrency-related frauds, leaving investors in despair and criminals largely unchecked. 

₹21 crore in damages from the pilots for failing to serve the mandatory notice period of six months for pilots and one year for commanders. Damages have been sought on account of revenue loss caused by cancelled flights, reputational loss to the airline, and the costs it had incurred on training the pilots. The airline simultaneously moved the Delhi High Court, asking it to take action against the pilots.

Sebi has imposed a fine of Rs 35 lakh on MI Research for violating regulatory norms. MI Research (Proprietor — Ashish Jain) is a Sebi-registered Investment Adviser. The order came after Sebi conducted an examination into the business of MI Research with respect to compliance of the entity with IA (Investment Advisers) regulations. The period of examination was November 2017 to August 2019. In its order on Monday, Sebi found that MI Research had collected up to Rs 1.95 crore from 748 clients by charging them for services provided as an investment adviser.

The New York State Department of Financial Services, or NYDFS, has called on the public to provide feedback to a proposal aiming to strengthen regulatory requirements for crypto firms operating in the state.

(Reuters) -Gold miner Newmont Corp said on Monday it has received a clearance from Australia's Foreign Investment Review Board to proceed with its proposed A$26.2 billion ($16.86 billion) takeover of Australia's Newcrest Mining (OTC:NCMGF).

The National Bank of Kazakhstan (NBK) has established a separate entity to lead the development and implementation of the country’s central bank digital currency (CBDC), the digital tenge. 

Supreme Court on Monday said it wanted to «tighten up» the self-regulatory mechanism of monitoring TV news channels and granted four more weeks to News Broadcasters and Digital Association (NBDA) to come up with fresh guidelines. A bench comprising Chief Justice of India D Y Chandrachud and Justices J B Pardiwala and Manoj Misra took note of submissions that the NBDA was in consultation with its present and former chairpersons, Justice (retd) A K Sikri and R V Raveendran, respectively, for framing fresh guidelines. Senior advocate Arvind Datar, appearing for NBDA, sought four weeks to come up with fresh guidelines. Appearing for the Centre, Solicitor General Tushar Mehta said the Union government has already formulated a three-tier mechanism, the first of which is self-regulation. Senior advocate Mahesh Jethmalani, appearing for the News Broadcaster Federation of India (NBFI), said it was the only regulatory body registered with the Centre as per the 2022 rules, unlike NBDA.

Popular DJ and crypto investor 3LAU (Justin Blau) has caused a stir in the crypto community after suddenly opting out of decentralized social media platform Friend.tech. Explaining the decision, the DJ highlighted concerns over the regulatory risks that the platform may pose.