Regulation

Richard Fuller, the Economic Secretary to the Treasury, said the government wants the United Kingdom to be the “dominant global hub for crypto technologies.” In a parliamentary debate on crypto asset regulation in the U.K. on Wednesday, Fuller spoke in favor of “powerful” use cases for cryptocurrency and blockchain technology, including using distributed ledger technology

The White House Office of Science and Technology Policy (OSTP) has weighed in on the environmental and energy impact of crypto assets in the United States, finding that crypto makes a significant contribution to energy usage and greenhouse gas (GHG) emissions. It recommends monitoring and regulation in response. The report, released Sept. 8, was the

According to a new lawsuit filed in the U.S. District Court, Western District of Texas. On Thursday, six users of the Ethereum blockchain and cryptocurrency mixer Tornado Cash sued the U.S. Department of Treasury, alleging that its recent designation of 44 Tornado Cash smart contract addresses to the Specially Designated Nationals (SDN) list of the

Global cryptocurrency taxation rules significantly vary among countries, and some jurisdictions have come up with extremely tough crypto tax policies for their residents. In a new study by crypto analytics firm Coincub, Belgium is referred to as the worst country in the world in terms of crypto taxation for residents. That is according to in-house

The ​​Vermont Department of Financial Regulation, or DFR, alleged crypto lending platform Celsius Network and CEO Alex Mashinsky misled state regulators about the firm’s financial health and its compliance with securities laws. In a Wednesday filing with the U.S. Bankruptcy Court in the Southern District of New York, Vermont’s financial regulator said Celsius and Mashinsky

Thailand’s Securities and Exchange Commission, or SEC, has accused crypto exchange Zipmex and its co-founder Akalarp Yimwilai of non-compliance with local laws and referred the matter to the police. In a Wednesday announcement, the Thai SEC alleged Zipmex had not provided information on digital wallets and crypto transactions in compliance with the country’s Digital Assets

Sept. 7, 2022 marks exactly one year since El Salvador became the first country in the world to adopt Bitcoin (BTC) as legal tender by enforcing the Bitcoin Law. Advocating for Bitcoin as legal tender last year, El Salvador President Nayib Bukele promised that Bitcoin adoption would benefit the 70% of the local population that

Recently elected Conservative Party Leader and Prime Minister of the United Kingdom Liz Truss has appointed Kwasi Kwarteng as the country’s newest chancellor of the exchequer, or chief financial minister. In a Tuesday announcement, Truss’ office named Kwarteng as the next U.K. finance minister, replacing Nadhim Zahawi, who served as chancellor of the exchequer for

Russia’s Finance Ministry has reportedly begun working with the governments of “friendly” nations to establish a cross-border stablecoin-based payments platform.  According to a Tuesday report from Russia state-owned news agency TASS, Deputy Finance Minister Alexey Moiseev said the government was looking to create the settlement platform to avoid the use of U.S. dollars and euros.

The past few years have seen crypto assets moved from being “niche products” to having more of a mainstream presence, prompting the need for more comprehensive regulation of the space, according to the International Monetary Fund (IMF). In a new report authored by IMF capital markets director Aditya Narain and assistant director Marina Moretti, officials noted

Mark Alexander Hopkins, also known by the moniker ‘Doctor Bitcoin’ or their handle Rizzn, has claimed that “transacting Bitcoin p2p is a federal crime” after announcing the sentence in their case to social media followers. In a Sunday Twitter thread, Hopkins said that they were facing between 6 to 15 months at a federal correctional

United States-based crypto lending platform Celsius, which collapsed and stopped the withdrawal option amid the market meltdown in June, pledged its readiness to partially return money to customers. However, there’s a catch — as the company has filed a motion with the United States Bankruptcy Court, its pledge would only apply to Custody and Withold

The Bank of Russia, the country’s central bank, has reportedly admitted that cross-border payments in crypto are inevitable in the current geopolitical conditions. The Russian central bank has been rethinking the approach to regulating crypto and agreed with the finance ministry to legalize crypto for cross-border payments, the local news agency TASS reported on Monday.

Thailand’s Securities and Exchange Commission (SEC) will implement stringent advertising rules for cryptocurrency firms operating in the country by October 2022. The Thai SEC informed cryptocurrency-related businesses operating in the country via email that adverts concerning digital currencies must have clear investment warnings to consumers on Sep. 1. The statement was later posted on the

South Korea continues its immersion in Web3 and the Metaverse. After investing almost $200 million in the creation of its own metaverse ecosystem and publishing the “Metaverse Ethical Principles,” the country’s government is now preparing the Metaverse Industry Promotion Ac. As reported by local media on Sept. 1, Heo Eun-ah, a member of the National

Governments across the globe see central bank digital currencies (CBDC) as a means to improve the existing fiat ecosystem. Cryptocurrency’s technical prowess supported by the central bank’s underlying trust is key to enabling a rich monetary ecosystem, suggests an International Monetary Fund (IMF) publication.  “Digital technologies promise a bright future for the monetary system,” reads

Helping investigate a $265,000 hack on decentralized crypto exchange KyberSwap, crypto exchange Binance narrowed down two suspects that seem responsible for the attack.  On Sept. 1, Kyber Network succumbed to a frontend exploit, allowing the attacker to make away with $265,000 worth of user funds from KyberSwap. While investigations were underway, KyberSwap offered a 10%

The Brazilian Securities and Exchange Commission is reportedly pursuing changes in the country’s legal framework with regard to its regulation of cryptocurrencies.  According to local media, one major concern is that the bill in question does not appear to consider tokens as digital assets or securities — and they therefore wouldn’t fall under SEC regulation.

Members of the Germany-based Bundesblock, otherwise known as the German Blockchain Association, updated the community on the upcoming Markets in Crypto-Assets (MiCA) regulations in a virtual panel held on Thursday, Sept. 1. According to the panel, the final legal text for the long-awaited regulations is set to be released in the upcoming four to six

Beleaguered crypto lender Celsius Network has filed a motion with the United States Bankruptcy Court yesterday to allow customers with digital assets held in certain accounts to be withdrawn.  There’s a catch, however, as the motion will only apply to Custody and Withold Accounts and for custodied assets worth $7,575 or less in value. Celsius