Regulatory Developments 82 | MachinaTrader.com

Singapore’s Central Bank Implements Measures to Curb Speculation in Cryptocurrency Investments

The Monetary Authority of Singapore (MAS) has introduced measures to discourage speculation in cryptocurrency investments. In response to feedback on its proposed Digital Payment Token (DPT) regulations, MAS has outlined five ways that DPT service providers can help retail clients avoid price speculation. These measures include assessing customer risk awareness, avoiding incentives for cryptocurrency trading, […]

Confusion Surrounds Australian Tax Regulator’s Guidance on Capital Gains Tax for DeFi Transactions

Australia’s tax regulator, the Australian Taxation Office (ATO), has issued new guidance on the taxation of decentralized finance (DeFi) transactions. However, the guidance has left DeFi users confused and uncertain about their tax obligations. The ATO has failed to provide clear answers to questions regarding specific transactions, such as staking Ether on Lido or transferring […]

Lawmakers Struggle to Establish Regulatory Clarity for Stablecoins in the US

Amid the ongoing campaigns for the 2024 elections in the United States, lawmakers are still working on legislation to establish regulatory clarity for the digital asset space, particularly stablecoins. At the North American Blockchain Summit, Consensys senior counsel Bill Hughes expressed his excitement about the policy discussions surrounding cryptocurrencies. He emphasized the importance of resolving […]

Allegations of Systemic Corruption in US Government Agencies Rock Crypto Space

Ethereum adviser Steven Nerayoff has made serious allegations against US government law enforcement and regulatory agencies, including the FBI, DOJ, and SEC, accusing them of systemic corruption. These allegations come in response to a tweet by Senator Elisabeth Warren discussing the recent controversy surrounding Binance and its CEO Changpeng Zhao’s guilty plea for violating anti-money […]

Singapore Implements Stricter Regulations to Protect Retail Investors in Crypto Market

The Monetary Authority of Singapore (MAS) has introduced new regulations to protect retail investors in the crypto industry. These measures aim to discourage speculative activities and include rejecting credit card payments and eliminating incentives for crypto trading. MAS also prohibits financing, margin, or leverage transactions and requires service providers to assess customers’ risk awareness levels. […]

Singapore’s Monetary Authority Implements New Regulations to Safeguard Crypto Investors

The Monetary Authority of Singapore (MAS) has introduced new regulations targeting Digital Payment Token (DPT) service providers in an effort to enhance investor protection in the cryptocurrency and digital payment token space. These regulations apply to various service providers, including crypto exchanges, stablecoin players, and traditional financial institutions. The measures aim to restrict the offering […]

Kraken Co-Founder Criticizes SEC’s Enforcement Actions in Crypto Industry, Calls for Self-Regulation

Kraken co-founder Jesse Powell criticized the U.S. Securities and Exchanges Commission (SEC) for what he believes is a convenience-based approach to enforcement actions in the crypto industry. Powell argued that the SEC’s regulatory actions against U.S.-based entities like Coinbase, Ripple, and Kraken reflect a localized enforcement approach rather than a genuine effort to protect consumers. […]

Bitcoin ETFs: BlackRock and Ark Invest Push for In-Kind Redemptions, Offering Tax Benefits for Investors

BlackRock and Ark Invest are engaged in discussions with the US Securities and Exchange Commission (SEC) regarding the establishment of a spot Bitcoin exchange-traded fund (ETF). One of the key points of contention is the method of investor redemptions, which has significant implications for tax purposes. BlackRock and Ark Invest are advocating for in-kind redemptions, […]

UK Government Proposes Digital Securities Sandbox to Boost Digital Asset Sector

UK Chancellor Jeremy Hunt has proposed a legislative initiative to establish a Digital Securities Sandbox (DSS) in order to support the growth of the digital asset sector. The DSS will serve as a controlled testing environment for crypto technologies and services, allowing for the adoption of digital assets in financial markets. The government plans to […]