Regulation

Pro-crypto United States senator Cynthia Lummis has remained steadfast in her support for Bitcoin (BTC) as part of diversified retirement plans, despite calls from her senator peers otherwise. As it stands, Lummis seems to be just one of the few openly crypto-friendly politicians in the United States and has notably pushed for progressive crypto regulation alongside Senator
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The Japanese subsidiary of the now-defunct cryptocurrency exchange FTX has received approval from local regulators to continue sorting out issues with withdrawals until next year. The Kanto Local Finance Bureau, a local financial regulator running under the Ministry of Finance of Japan, has issued a statement regarding FTX Japan operations, Reuters reported. The Japanese authority
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The United Kingdom’s Chancellor of the Exchequer, Jeremy Hunt, laid out a number of reforms aiming to “drive growth and competitiveness” to the country’s financial services sector including efforts that support the crypto space. In an announcement, the U.K. government highlighted that it will create a smarter regulatory framework for the country that it describes as “agile,
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Hong Kong’s legislative council has passed a new amendment to its anti-money laundering (AML) and terrorist financing system to include virtual asset service providers. The latest legislation will establish a new licensing regime for virtual asset service providers, set to come into effect from June 1, 2023. The new amendment will subject crypto exchange service
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Cryptocurrency mixing services are a divisive subject in the industry. Some advocate for the privacy-enabling features of these protocols while others maintain that they are mainly used for illicit means. For platforms like Tornado Cash, the mainstream verdict is “guilty as charged.” The infamous decentralized mixing protocol was sanctioned by the United States Office of Foreign
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After passing its landmark legislation on stablecoins in June, Japanese regulators are considering complementing it by restricting the algorithmic backing of stablecoins. The intention comes as a recommendation from the Financial Service Agency (FSA) and was repeated by the country’s Vice Minister for International Affairs, Tomoko Amaya.  During his speech on crypto assets at a
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The international monitoring body Financial Stability Board, or FSB, called for a global framework aimed at regulating and supervising crypto in the wake of FTX’s collapse, also saying it would assess vulnerabilities associated with decentralized finance. In a Dec. 6 meeting in Basel, the FSB said it planned to “enhance its crypto-assets monitoring framework” to
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