Regulation

Commodity Futures Trading Commission’s (CFTC) Christy Goldsmith Romero has pointed to the collapse of the Terra ecosystem and its flow-on effects as an example of how contagion risks within crypto markets are similar to those experienced by the traditional financial (TradFi) system during the global financial crisis (GFC) of 2008.  Romero suggested in a speech

Is the International Monetary Fund (IMF) really hostile to crypto? Many in the cryptocurrency and blockchain space think so. In January, the fund asked El Salvador to drop Bitcoin (BTC) as legal tender.  In May, it reportedly pressured Argentina to curtail crypto trading as the price for an IMF loan extension, and it also recently

A Hong Kong-headquartered crypto investment platform, Q9 Capital, received provisional virtual asset approval from Dubai’s Virtual Asset Regulatory Authority (VARA). The company announced its expansion to the UAE and applied for a full operating license as well.  According to its press release from Oct. 27, Q9 will establish a regional hub in Dubai and start

The first federal budget under the Anthony Albanese led-government has outlined that Bitcoin (BTC) will continue to be treated as a digital asset, and not taxed like a foreign currency. This clarification comes in response to El Salvador’s adoption of BTC as legal tender in September last year, with the Australian government essentially ruling out

Pham Minh Chinh, the prime minister of Vietnam, has reportedly said the country’s government should study crypto regulation in part based on residents continuing to trade digital assets despite their lack of legal recognition. According to an Oct. 24 report from online news outlet VnExpress, Chinh hinted a bill on anti-money laundering, or AML, should

The Monetary Authority of Singapore (MAS) is introducing proposals to better regulate the cryptocurrency industry in the aftermath of the bankruptcy of the Singaporean crypto hedge fund Three Arrows Capital (3AC). The central bank of Singapore has issued two consultation papers on proposals for regulating the operations of digital payment token service providers (DPTSP)​​ and

The United States Department of Justice has announced charges against two Chinese intelligence officers who allegedly bribed a double agent with Bitcoin. In an Oct. 24 announcement, the Justice Department said Guochun He and Zheng Wang attempted to obstruct the prosecution of an unnamed global telecommunications company based in China, which allegedly involved paying a

Several Democratic members of the United States Senate and House of Representatives have requested information from top regulators and agencies in the country regarding crypto firms hiring government officials upon their departure. In letters dated Oct. 24 addressed to the heads of the Securities and Exchange Commission, Commodity Futures Trading Commission, Treasury Department, Federal Reserve,

No matter how much attention the United States Securities and Exchange Commission (SEC) or Commodity Futures Trading Commission gets in the crypto industry, for individual traders and investors, it often comes down to the Internal Revenue Service’s (IRS) position — and how much tax one owes. Last week, the IRS last week released a draft

Australia’s federal law enforcement agency has highlighted the criminal use of cryptocurrency as an “emerging threat” in the country but says it’s a continuous challenge to keep up the pace with criminals.  A spokesperson for the Australian Federal Police (AFP) told Cointelegraph that there has been an “increase in the number of offenders using cryptocurrencies

Rishi Sunak is set to become prime minister of the United Kingdom within days. Sunak was defeated for the top government post by Liz Truss on Sept. 5, but she resigned after 45 days in office. Indications so far are that his selection for the office is good news for the crypto industry. Sunak was

Japan Credit Bureau (JCB), a Japanese analog to international payments systems like Visa or Mastercard, announced the start of its central bank digital currency (CBDC) infrastructure testing. The project will assumably prepare the payments platform for a national CBDC, which is currently being tested by the Bank of Japan (BoJ).  The infrastructure project, announced by the

A metaverse casino has been hit with simultaneous cease-and-desist orders from four state enforcement bodies across the United States, who have deemed the firm’s nonfungible tokens (NFTs) to be unregistered securities. Over two NFT collections offered by metaverse casino Slotie, the tokens are said to offer access to the metaverse casino, staking rewards, revenue split from

The United States commodities regulator certainly doesn’t want to look like it’s going easy on crypto, revealing it was behind 18 separate enforcement actions targeting digital assets in the 2022 fiscal year.  In an Oct. 20 report from the Commodity Futures Trading Commission (CFTC), a total of 82 enforcement actions were filed in 2022’s fiscal

A marked hostility toward new and emerging Web3 technologies like cryptocurrencies runs the risk of costing Japan its place as the world’s gaming capital. We’re getting dangerously close to the point of no return, and here’s why.  Nobody can be sure where the country’s antagonism to crypto originated or why it still persists even after

The International Criminal Police Organization (Interpol) is putting on its virtual reality headsets as it prepares to crack down on an expanding list of “possible crimes” in the metaverse. According to an Oct. 20 announcement, Interpol has launched the “first ever Metaverse specifically designed for law enforcement worldwide” — introducing it at the 90th Interpol

Hong Kong is taking action to regain its status as a global cryptocurrency hub by launching several legal initiatives related to the crypto industry. A city and special administrative region of China, Hong Kong is willing to distinguish its crypto regulation approach from the blanket crypto ban in mainland China. The government of Hong Kong

An amendment to the Financial Services and Markets Bill now before the United Kingdom’s Parliament would extend the law’s powers to regulate financial promotion and other activities to crypto assets. The amendment was written by Member of Parliament and Financial Secretary to the Treasury Andrew Griffith.  The 335-page bill was introduced in July and had

The Organization for Security and Co-operation in Europe (OSCE) organized a five-day training course on cryptocurrencies and Dark Web investigation for Uzbekistan’s police and prosecution forces. The course is a part of OSCE’s consistent efforts to educate Central Asian law enforcers on the emerging technologies that criminals might abuse in a strategically important region for

San Francisco-based fintech firm Ripple has inched closer to victory in its ongoing battle with the United States Securities and Exchange Commission (SEC). On Oct. 21, Ripple general counsel Stuart Alderoty confirmed on Twitter that they finally have the elusive documents after “18 months and 6 court orders,” though noted they remain confidential at the