Regulation

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

Self-regulation will be critical in governing the rapidly changing landscape of the cryptocurrency industry in order to preserve its autonomous, decentralized nature.  Months after the collapse of the Terra ecosystem that propelled crypto’s market capitalization below $1 trillion, the industry is beginning the long process of rebuilding not only retail trust but also faith in

Over the years, several cryptocurrency companies have claimed that deposits with them were insured by the United States Federal Reserve and the Federal Deposit Insurance Corporation (FDIC) as if they were regular savings accounts. While so far, no crypto firm has been able to offer depositors this type of insurance, some speculate it could be

Some cryptocurrency exchanges continue onboarding Russian nationals despite the latest Western sanctions against Russia, but not without certain restrictions. In late September, Kazakhstan’s President Kassym-Jomart Tokayev witnessed the nation’s first regulated fiat-to-crypto purchase by a local commercial bank, the Eurasian Bank. The transaction involved a local crypto exchange called Intebix, which allows retail clients to

The lack of regulation and good governance in the crypto sector is more than a hindrance to businesses and lack of protection for users, it is an existential threat, Bank of England Financial Policy Committee external member Carolyn Wilkins said in a talk on Oct. 19. Decentralized finance (DeFi) would be a good place to

The Law Commission of England and Wales hopes to establish the United Kingdom as a leading jurisdiction for grappling with legal disputes involving emerging technologies like cryptocurrencies, digital assets and electronic documentation. The project, dubbed “Digital Assets: Which Law, Which Court?” was announced on Oct. 18 with the aim of reviewing international legal challenges involving

American taxpayers will find a broader, more defined category encompassing cryptocurrencies and nonfungible tokens (NFTs) in their 2022 IRS tax forms. The draft bill released by the Internal Revenue Service features a well-defined Digital Assets section that outlines if and how taxpayers will account for the use of cryptocurrencies, stablecoins and NFTs. Page 16 of

The European Union (EU) released a package of documents on Oct. 18 related to an action plan for implementing the European Green Deal and the REPowerEU Plan, both of which aim at energy savings by digitalizing the energy sector. The European energy planners have crypto miners in their sights along with myriad other energy users.

The Law Commission of England and Wales will set about reviewing private international legal challenges involving cryptocurrencies through a government-commissioned project. The review, launched on Oct. 18, will provide clarity on how international law approaches emerging technologies like cryptocurrencies, digital assets and electronic documentation. The law reform project, dubbed “Digital Assets: Which Law, Which Court?”

The Texas State Securities Board, or SSB, and the Texas Department of Banking filed a supplemental declaration on Oct. 14 in the Voyager Digital case stating that the SSB is investigating FTX Trading and FTX US and their principals, including co-founder and CEO Sam Bankman-Fried, for allegedly offering unregistered securities in the United States. FTX