Regulation

As the world of finance continues to transform, new forms of money are challenging traditional monetary infrastructures that have been around for a long time. Currently, central bank digital currencies (CBDCs) have caught the eye of various countries, including the Philippines. In a joint event organized by Bangko Sentral ng Pilipinas (BSP) and the Alliance
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The United States Financial Crimes Enforcement Network, or FinCEN, a bureau of the Treasury Department, has warned financial institutions to consider crypto as a possible means Russia may attempt to use to evade sanctions related to the country’s military action in Ukraine. In a Monday alert, FinCEN reminded U.S.-based financial institutions “with visibility into cryptocurrency”
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The global crypto derivatives and spot trading exchange FTX is expanding to Europe after receiving approval from the Cyprus Securities and Exchange Commission (CySEC). The new venture called FTX Europe would offer leading products of the company to the European clients via a licensed investment firm across the European economic area. The new European venture
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Recently, Ukraine has called for “sabotage” of everyday Russians’ crypto assets due to an ongoing war between the two countries. Among many, its European allies have also voiced mounting concerns that Russia may use crypto to bypass Western sanctions. But ironically, it appears that one of the greatest proponents of barring everyday Russians and financial institutions
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Interaction between the cryptocurrency industry and Capitol Hill is becoming ever more intensive as efforts to regulate crypto grow in tandem with its popularity. The surge in crypto industry lobbying last year was given some concrete parameters in February by crypto analytics startup Crypto Head. It released a report showing that the crypto companies that
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The United States Senate unanimously approved a bill amendment request that now allows traditional banks operating in the Commonwealth of Virginia to provide virtual currency custody services.  Delegate Christopher T. Head introduced the bill (House Bill No. 263) back in January 2022, seeking an amendment to allow eligible banks to offer crypto custody services: “A
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Centralized exchanges (CEX) and CEOs from companies such as Binance, Coinbase and Kraken have all stated they would only freeze the assets of Russian clients specifically targeted by Western sanctions — not that of everyday Russian users. A few days prior, Mykhailo Fedorov, Ukraine’s minister of digital transformation, had called for “all major crypto exchanges to block
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As part of a series of amendments to South Africa’s financial laws, crypto-asset service providers will become accountable institutions. A report from the South African treasury announced further crypto regulations “to be finalized during 2022.” In brief, the proposed changes will ensure that “any person providing advice or intermediary services related to crypto assets must
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New York state’s efforts to enforce sanctions against Russia have ramped up a gear with the Department of Financial Services, or DFS, expediting the procurement of additional blockchain analytics technology. According to a statement released Wednesday, the department will use the technology to help detect exposure to Russian individuals and entities subject to federal sanctions,
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Binance, the world’s leading crypto exchange by trading volume is returning to the Malaysian markets with a strategic stake in the country’s regulated digital asset trading platfrom MX Global. Binance and Cuscapi Berhad acquired a key stake in MX Global, one of the four Recognized Market Operators – Digital Asset Exchange licensed by the Securities Commission (SC)
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The Treasury Department and reportedly the White House are warning U.S.-based companies and individuals not to facilitate crypto transactions sent to certain Russian nationals and banks. According to regulations from the Treasury Department’s Office of Foreign Assets Control scheduled to go into effect on March 1, U.S. residents may not use digital currencies to benefit
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The U.S. Securities and Exchange Commission’s enforcement director has reportedly said cryptocurrency companies will not receive amnesty for reporting themselves for possible violations of securities laws. According to a Monday report from Reuters, the SEC director of the agency’s division of enforcement, Gurbir Grewal, said the agency may view crypto companies’ conduct “more favorably” if
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Major global cryptocurrency exchange Bitfinex is finally moving forward with its security token platform (STO) in Kazakhstan, opening the first day of trading. Bitfinex Securities, Bitfinex’s blockchain-based investment platform, is officially starting on Tuesday, the company representatives announced to Cointelegraph. Announced in September 2021, the new STO platform is regulated within Kazakhstan’s national financial hub
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