Regulation

Andrew Yang, former candidate for United States president and New York City mayor and founder of the Forward Party, had sobering observations about the uses of blockchain, or its lack of use, in the United States and U.S. regulation of artificial intelligence (AI) when he spoke Nov. 16 at the North American Blockchain Summit (NABS) in

Our weekly roundup of news from East Asia curates the industry’s most important developments. Hot week for Hong Kong exchanges  Hashkey Exchange — one of the first regulated crypto exchanges in Hong Kong — has announced insurance coverage for clients assets stored in its hot and cold wallets. accounts. The policy will cover 50% of

Dubai’s dedicated crypto regulator, the Virtual Asset Regulatory Authority (VARA), is switching leaders as it prepares for the next phase of its “ramp up to full-scale market operations” in 2023.  In a statement sent to Cointelegraph, VARA said that its incumbent CEO, Henson Orser, will be replaced by Matthew White, a global adviser who worked

Guidelines for firms listing and delisting cryptocurrencies in New York have tightened up to better protect investors, according to the state’s financial regulator. The New York State Department of Financial Services (NYDFS) unveiled new restrictions on Nov. 15 which mandate crypto companies submit their coin listing and delisting policies for NYDFS approval. Company policies will

The United States House Financial Services Subcommittee on Digital Assets, Financial Technology and Inclusion received an education in the uses of blockchain technology in a hearing entitled “Crypto Crime in Context: Breaking Down the Illicit Activity in Digital Assets” on Nov. 15. The hearing was bipartisan in nature, chair French Hill stated at the outset. 

The German bank Commerzbank has been granted a crypto custody license by local regulators, according to an announcement released by the lender on Nov. 15.  Commerzbank says it is the first “full-service” German bank to be granted this license in the country under the legal framework of the German Banking Act (KWG). This allows it

The creator of the Mutant Ape Planet nonfungible token (NFT) collection — a knock-off of Yuga Labs’ Mutant Ape Yacht Club project — has pleaded guilty to conspiracy to commit wire fraud in a New York federal court. In a Nov. 14 statement, the U.S. Attorney’s Office for the Eastern District of New York said

A fake filing published to the State of Delaware’s Division of Corporations on Nov. 13 will be referred to the Delaware Department of Justice. In a Nov. 14 statement, a spokesperson for the Delaware Department of State told Cointelegraph that the false filing claiming that asset manager BlackRock registered an “iShares XRP Trust” would be

Tether (USDT), the largest stablecoin by market value, has been breaking new records over the course of 2023, with its market capitalization adding at least $20 billion so far this year. According to data from the blockchain data provider Whale Alert, Tether has minted 22.75 billion USDT so far this year, with at least 4

Crypto exchange Crypto.com’s Dubai entity was granted a Virtual Assets Service Provider (VASP) license by the city’s regulator, pending operational approval. In a Nov. 14 press release, Crypto.com said that once fully approved by Dubai’s Virtual Assets Regulatory Authority (VARA), its local business CRO DAX Middle East FZE can offer retail and institutional investors exchange,

The United States Securities and Exchange Commission (SEC) could approve all 12 pending spot Bitcoin exchange-traded fund (ETF) applications by Nov. 17. Beginning on Nov. 9, the SEC reportedly has a “window” to approve all 12 spot Bitcoin ETF filings, including Grayscale Investments conversion of its Grayscale Bitcoin Trust product. However, even if the SEC

The United States Financial Services Committee (FSC) has scheduled a Nov. 15 hearing for a deep dive into the illicit activities in the cryptocurrency ecosystem. The hearing, ‘Crypto crime in context: breaking down the illicit activity in digital assets,’ will feature prominent crypto entrepreneurs as attendees. According to the Committee’s calendar, Mr. Bill Hughes, senior

Crypto exchange Bithumb plans to become the first digital asset company to go public on the South Korean stock market.  Local news outlet Edaily reported on Nov. 12 that Bithumb is getting ready for an initial public offering (IPO) on the KOSDAQ — South Korea’s version of the United States Nasdaq — with an expected

Just under 50 national governments have issued a joint pledge to “swiftly transpose” the Crypto-Asset Reporting Framework (CARF), the new international standard on automatic exchange of information between tax authorities, into their domestic law systems. The statement was published on Nov. 10.  The Organisation for Economic Cooperation and Development (OECD) published the CARF in 2022.

Cryptocurrency exchange Binance is progressing with its exit from Russia and is preparing to terminate local currency deposits next week. Binance will stop accepting deposits in Russian rubles (RUB) starting Nov. 15, 2023, the firm officially announced on Friday. Binance also advised users to withdraw RUB from the platform as it expects to terminate RUB

Attorney John Deaton, representing XRP holders, has made a persuasive case in the Ripple vs. SEC legal saga, suggesting that the anticipated $770 million disgorgement for Ripple is improbable. He grounds his prediction on various influential factors that could sway the court’s judgment. Deaton underscores the significance of the Supreme Court’s Morrison ruling, which effectively

The Indian Supreme Court declined to consider a Public Interest Litigation (PIL) that aimed to establish regulations and a framework of guidelines for cryptocurrency trading in India. According to a report, the bench headed by the Chief Justice of India (CJI), after listening to the plea, remarked that the petitioner’s demands are more legislative in

Nonprofit ethics group Campaign for Accountability (CfA) sent a letter to U.S. Senators Elizabeth Warren and Sherrod Brown on Nov. 9 to present them with information on the alleged use of cryptocurrency in money laundering. The letter discussed the Tron blockchain and stablecoin issuer Circle in particular. In the letter signed by CfA executive director

Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you the most significant developments from the past week. The exploiter behind the $116-million theft of assets from Mango Markets will face trial in April next year after the accused convinced the judge to postpone the

The Chinese government released a statement on Nov. 10 declaring that anyone stealing digital collections, such as nonfungible tokens (NFTs), will be subject to theft sentences. It outlines three views on the type of crime that theft of digital collections falls under, the first two classifying it as either data or digital property. However, the