Gemini’s U.K. branch has announced that it will restrict cryptocurrency transfers exclusively to Travel Rule Universal Solution Technology (TRUST)-registered Virtual Asset Service Providers (VASPs) starting November 17. This decision is in response to the Travel Rule regulations, which require VASPs to share sender and receiver information for crypto transactions. Gemini has partnered with TRUST to […]
The Ministry of Culture and Information in Kazakhstan has blocked access to Coinbase, a prominent cryptocurrency exchange, along with select online brokerage websites. This action is in accordance with Kazakhstan’s “Digital Assets Law,” which regulates the issuance and circulation of digital assets within the country. The law aims to create a structured regulatory environment for […]
In a recent interview with Yahoo Finance, Senator Cynthia Lummis expressed her disapproval of the Securities and Exchange Commission’s (SEC) intensified crackdown on the crypto industry throughout 2023. Lummis criticized the aggressive nature of the SEC’s actions, deeming it unnecessary and overreaching. She specifically opposed the SEC’s controversial new crypto policy, “Staff Accounting Bulletin 121,” […]
A United States lawmaker has proposed a controversial amendment to the Financial Services and General Government bill, which aims to reduce government spending. The amendment suggests reducing the salary of Securities and Exchange Commission (SEC) chair Gary Gensler to just $1 per year. This move is part of a wider proposal to defund the regulator. […]
XRP, the cryptocurrency associated with Ripple, experienced a significant surge in price, rising over 8% in the past 24 hours. This surge propelled XRP to become the fourth-largest cryptocurrency by market capitalization, temporarily displacing Binance Coin (BNB) from its position.The price rally appears to be a reaction to two key developments concerning Ripple. Firstly, the […]
A series of documents have been released in the United Kingdom regarding the regulation of stablecoins. The Financial Conduct Authority (FCA) and the Bank of England (BOE) have both published discussion papers on the topic. In addition, the BOE’s Prudential Regulatory Authority (PRA) has issued a letter to CEOs of deposit-taking institutions, and the BOE […]
John Deaton, a prominent crypto lawyer and founder of Crypto Law, has shared his opinion on the ongoing lawsuit between Ripple Labs and the U.S. Securities and Exchange Commission (SEC). According to Deaton, a settlement of $20 million or less in the lawsuit would be a 99.9% legal victory for Ripple. He argues that those […]
Coinbase Financial Markets, the regulated derivatives division of Coinbase, has introduced regulated crypto futures trading for retail investors in the US. This move allows eligible US customers on the Coinbase Advanced platform to trade Bitcoin and Ethereum futures contracts. The company received regulatory approval in August to offer crypto derivatives to retail traders. By offering […]
PayPal, the global payments firm, has received a subpoena from the US Securities and Exchange Commission (SEC) regarding its PYUSD stablecoin. The subpoena requests the production of documents, and PayPal has stated that it is cooperating with the SEC in connection with this request. This comes as regulatory scrutiny around stablecoins increases, with Circle, the […]
Hong Kong is considering allowing retail investors to trade spot crypto exchange-traded funds (ETFs), according to Julia Leung, the CEO of Hong Kong’s Securities and Futures Commission (SFC). This move signifies a potential change in the commission’s previous restriction on spot-crypto ETFs for retail investors. Hong Kong has been actively positioning itself as a crypto-friendly […]
