The European Central Bank (ECB) has emphasized the need for a comprehensive regulatory framework for decentralized autonomous organizations (DAOs) in the financial sector. In an occasional paper titled “The future of DAOs in finance – in need of legal status,” the ECB highlighted how the rapid advancement of technology has outpaced regulation, posing risks to […]
The US Securities and Exchange Commission (SEC) is showing increased communication with applicants for spot Bitcoin exchange-traded funds (ETFs), a departure from its usual silence on the matter. This comes after fake news circulated about BlackRock’s Bitcoin ETF approval, adding to the anticipation surrounding potential SEC acceptance. Major players in the investment world, such as […]
The European Union (EU) has implemented a new directive aimed at enhancing collaboration among member states regarding the sharing of tax data related to cryptocurrencies. This move is intended to strengthen the existing norms surrounding crypto taxation and improve cooperation between national tax authorities. The directive seeks to address the challenges posed by the decentralized […]
The US Securities and Exchange Commission (SEC) has denied reports that it approved BlackRock’s application to launch a Bitcoin exchange-traded fund (ETF). The false reports caused a temporary price rally for Bitcoin. The SEC cautioned against believing unverified sources and urged users to rely on verified information. US attorney John E. Deaton, who represents XRP […]
FTX founder Sam Bankman-Fried’s criminal trial has revealed an extensive list of donations made by FTX associates. Bankman-Fried himself donated over $133 million, with the majority going towards political donations. Notable recipients include Republican senator Mitt Romney and Democratic senator Cory Booker. The largest donations were made to political groups and PACs, which have fewer […]
The US Securities and Exchange Commission (SEC) is showing no signs of slowing down its regulatory scrutiny and enforcement actions against the crypto industry. The SEC’s Division of Examinations has announced its priorities for 2024, indicating a potential tightening of regulations for crypto exchanges, firms, and cryptocurrencies classified as securities. The Division will focus on […]
The cozy relationship between the premier and officials in the Bahamas has come to light with the premier’s request to Bankman-Fried in September 2022. The Bahamas government has faced criticism for its lenient regulation of crypto companies, particularly in the case of FTX exchange. Despite operating without a license for over two years, FTX was […]
The European Union’s efforts to regulate the crypto industry and provide confidence to investors may take longer than expected. The transition to the Markets in Crypto-Assets Regulation (MiCA) framework, which aims to standardize regulations for crypto assets and service providers across the EU, has been delayed. The European Securities and Markets Authority (ESMA) has stated […]
ESMA, the European Securities & Markets Authority, has issued a warning to crypto investors regarding the implementation of the Markets in Crypto-Assets Regulation (MiCA). The regulatory framework, approved by the European Union earlier this year, is expected to take until December 2024 to be fully implemented. This means that crypto investors will remain at risk […]
South Korea’s Financial Supervisory Service (FSS) is working on regulations to complement the Virtual Asset Users Protection Act, which was recently passed. The FSS aims to have these regulations ready by January, well in advance of the law taking effect. During an audit conducted by the South Korean National Assembly Political Affairs Committee, FSS head […]
