Regulatory Developments 100 | MachinaTrader.com

Ripple’s XRP Approved for Use in Dubai’s Financial Ecosystem and Partners with National Bank of Georgia for Digital Lari Pilot Project

Ripple has achieved a significant milestone in the XRP ecosystem with the official approval of its cryptocurrency for use within Dubai’s financial ecosystem. The Dubai Financial Services Authority (DFSA) has given the green light for licensed organizations in the Dubai International Financial Centre (DIFC) to utilize XRP as a virtual asset service. This approval will […]

Federal Reserve Issues Cease and Desist Letter to Bitcoin Magazine Over Alleged Trademark Infringement

The Federal Reserve Bank of Chicago has issued a cease and desist letter to Bitcoin Magazine, accusing the magazine of trademark infringement. The letter claims that Bitcoin Magazine used the term “FEDNOW” on its merchandise without the Federal Reserve’s consent. The Federal Reserve argues that this could cause confusion among consumers and make them believe […]

SEC Seeks Summary Judgment in $45 Billion Fraud Case Against Terraform Labs and Do Kwon

The U.S. Securities and Exchange Commission (SEC) has filed a motion for summary judgment in its case against Terraform Labs and its co-founder, Do Kwon. The SEC alleges that Terraform and Kwon orchestrated a fraudulent scheme that resulted in a $45 billion market loss. The regulator claims that Kwon was a key participant in Terraform’s […]

SEC Challenges Jury’s Verdict on Terraform Labs’ Violations, Seeks Summary Judgment

The United States Securities and Exchange Commission (SEC) has challenged the jury’s decision regarding Terraform Labs’ alleged violations and is seeking a summary judgment on all claims. The SEC argues that Do Kwon, co-founder of Terraform Labs, should be held accountable for the company’s violations of Exchange Act Section 10(b) and Rule 10b-5. The SEC […]

Ripple’s XRP Receives Approval from Dubai Financial Services Authority

Ripple’s XRP token has gained approval from the Dubai Financial Services Authority (DFSA) under its virtual assets regime. This means that licensed virtual asset firms within the Dubai International Financial Centre (DIFC) area can now make use of XRP. Ripple, which has chosen the DIFC as its Middle East and North Africa (MENA) headquarters, expressed […]

PayPal Faces SEC Subpoena Over PYUSD Stablecoin, Adding to Regulatory Scrutiny

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 […]

UK Crypto Asset Promotion Rules Lead to Confusion and Low Compliance

The United Kingdom’s new rules for promoting crypto assets have caused confusion and a lack of compliance among firms. In response, the Financial Conduct Authority (FCA) has issued additional guidance to help crypto firms adhere to the rules. The FCA’s guidance, released on November 2, aligns with existing rules for high-risk investments and aims to […]

Dubai Financial Services Authority Approves Ripple’s XRP Cryptocurrency Token

Ripple has received official approval from the Dubai Financial Services Authority (DFSA) for its XRP cryptocurrency token. This means that licensed firms in the Dubai International Financial Centre (DIFC) can now incorporate XRP into their virtual asset services. The DFSA’s virtual assets regime now allows for four digital assets, including Bitcoin (BTC), Ethereum (ETH), Litecoin […]

Dubai’s VARA Grants Initial Approval License to WadzPay for Virtual Asset Services

The Dubai Virtual Assets Regulatory Authority (VARA) has granted an “Initial Approval” license to WadzPay, a crypto firm, as part of its journey to obtain a Virtual Asset Service Provider (VASP) license. This license allows WadzPay to begin preparations for offering virtual asset services and activities under the VASP License for Transfer and Settlement and […]

PayPal Faces SEC Subpoena Over USD Stablecoin: A New Milestone in the Intersection of Traditional Finance and Digital Currencies

PayPal, the digital payment giant, has received a subpoena from the Securities and Exchange Commission (SEC) regarding its U.S. dollar stablecoin, PYUSD. This development highlights the growing intersection between traditional finance and digital currencies. PayPal made waves in August when it became the first major company in its field to embrace digital currencies for payments […]