The regulatory clampdown against the world’s largest cryptocurrency exchange keeps pressuring the company to stop providing some of its services. The latest to close down are futures, options, and leveraged tokens for Australians. Binance announced earlier on September 21st the latest change in its service offerings affecting Australian users only. As of September 24th at...Read More
As regulatory pressure mounts in the U.S., policymakers are putting stablecoins at the top of their agendas. Citing “people familiar with the matter,” Bloomberg has reported that officials are crafting a policy framework set to be released in the coming weeks. Their primary concern is ensuring that investors can reliably move money in and out...Read More
Several US state regulators have gone after the popular cryptocurrency lender Celsius Network for failing to comply with local securities laws. The project’s CEO was quick to refute the allegations, promising that all protocol services will remain unaffected for now. US State Regulators After Celsius United States watchdogs have intensified their actions against the cryptocurrency...Read More
South Korean cryptocurrency exchanges that cannot meet up with the Financial Intelligence Unit (FIU) registration exercise are mandated to inform their customers before midnight today that they will be shutting down operations a week before the September 24, 2021 deadline. The affected trading platforms have been instructed not only to inform their customers that they...Read More
If the primary cryptocurrency’s mainstream adoption continues and the asset succeeds, regulators and governments will kill its progress, said Ray Dalio. At the same time, he believes most bigger countries, like China and India, have already started trying to do so. Speaking to CNBC on September 15th, the founder of Bridgewater admitted once again that...Read More
El Salvador’s President Nayib Bukele is looking to attract foreign capital to boost the Bitcoin industry in his country, especially after the controversial path he has gone through to get the cryptocurrency adopted as legal tender. A supposedly recent executive decision could be very favorable for bitcoiners in El Salvador… as long as they’re foreigners....Read More
The United States Securities and Exchange Commission (SEC) continues with its efforts to clamp down on illegal initial coin offerings. This trend started a couple of years back when ICOs were at their prime but has steadily escalated in 2020 and 2021. SEC Charges Rivetz Corp CEO for $18 Million According to an official litigation...Read More
As the global adoption of cryptocurrencies continues to soar, a new bill has been submitted in the Republic of Panama to recognize Bitcoin (BTC) and other digital currencies as alternative payment methods. Panama Proposes Crypto Bill Panamanian pro-crypto congressman Gabriel Silva noted on Twitter that the new bill would enable the freedom to use cryptocurrencies...Read More
Cathie Wood, CEO of Ark Invest, recently spoke about the market outlook, taking the opportunity to give some love to Bitcoin and the ecosystem of industries that are developing around cryptocurrencies. Speaking with Yahoo Finance, the financial expert assured that the future looks bright for the world of cryptocurrencies. Wood disagrees with billionaire investor John...Read More
Eight months after Nigeria’s central bank banned banks from serving crypto entities and investors, the country’s Securities and Exchange Commission (SEC Nigeria) has established a fintech unit that will help formulate regulations for the digital asset industry. SEC Sets up Fintech Unit for Crypto Research The financial watchdog announced that the new division will research...Read More
Every day an increasing number of countries turn their back on Binance, sending warnings to their users, letting them know that if they use the exchange, they are basically on their own in case of any inconvenience. A few hours ago, the Financial Sector Conduct Authority (FSCA) of South Africa issued a Press Release stating...Read More
The Securities and Exchange Commission has purportedly started an investigation against Uniswap Labs – the leading developer of the giant DEX Uniswap. According to a WSJ report from earlier on September 3rd, the top US securities regulator has gone after the developers of the largest decentralized cryptocurrency exchange – Uniswap Labs. Citing people familiar with...Read More
In reference to the world’s largest crypto exchange, Binance, the U.K. financial regulator has stated that “based upon the firm’s engagement to date, the FCA considers that the firm is not capable of being effectively supervised,” On August 25, Reuters reported that the regulator is concerned about Binance’s global reach and range of products which...Read More
The UK Financial Conduct Authority has settled all of its issues with the world’s largest cryptocurrency exchange – Binance. The regulator published an update on August 25th to clear the company’s name two months after imposing restrictions on some of its operations. Back in late June this year, the FCA issued a warning shot against...Read More
The Cardano Foundation has now selected Coinfirm, a leading provider of regulatory technology solutions, to deploy AML/CFT analytics for the Cardano blockchain and all associated tokens. The Importance of Blockchain Analytics The two parties announced the collaboration on August 24th. It reads that the deployment of these new analytics services will ensure that Cardano remains...Read More
The crypto exchange Kraken does not want to lag behind in the race to dominate the global cryptocurrency market and is actively working on expanding beyond the United States. The first and also the most challenging destination is Europe. In an interview for the German news outlet Handelsblatt, Jesse Powell, CEO of Kraken, said that...Read More
The owner of Bitcoin mixer Helix and resident of Ohio, Larry Dean Harmon, pleaded guilty to a one-count conspiracy to launder monetary instruments. Previously, US prosecutors alleged that the Bitcoin mixer laundered over $300 million. Bitcoin Mixer Operator Pleads Guilty Harmon pleaded guilty in the United States District Court for the District of Colombia on...Read More
Leading crypto exchange Binance has recently increased its customer verification requirements amid mounting pressure from global financial regulators. All Binance Users Must Verify their Accounts In an official announcement on Friday, Binance said that all new users must complete “Intermediate Verification” procedures to gain access to services such as cryptocurrency deposits, trades, and withdrawals, with...Read More
The world’s leading cryptocurrency exchange has appointed Greg Monahan – a former US Treasury Criminal Investigator. Monahan will serve as Binance’s new Global Money Laundering Reporting Officer. The company announced its latest hiring in its attempts to comply with global watchdogs in a press release shared with CryptoPotato. It explained that Monahan has a 30-year...Read More
Cryptocurrency trading platforms continue to receive scrutiny from global regulators as Spain’s National Securities Market Commission (CNMV) has warned two of the largest digital asset exchanges – Huobi and Bybit. According to the statement from the authorities sent to 12 companies operating in Spain, including Huobi and Bybit, they have failed to register to provide...Read More
The battle to determine which will be the position of regulators towards the crypto industry is heating up in the United States. While some big-name politicians claim that the state has a duty to protect its citizens from the risks of an under-regulated industry, others equally influential claim that excessive regulation is driving investors away....Read More
The Indian governing body will reportedly take measures to eliminate the use of cryptocurrencies as part of the country’s financial system. However, the existence of digital assets issued by the State is not threatened. Cryptocurrencies Fund Illegal Activities According to a recent report by The Economic Times, the government of India plans to crack down...Read More
After a 10-month long regulatory battle with United States financial watchdogs, leading cryptocurrency derivatives exchange BitMEX has agreed to settle and will pay a fine worth millions of dollars. As confirmed by the exchange today, BitMEX has reached a $100 million resolution with the two U.S. regulators – the Commodity Futures Trading Commission (CFTC) and...Read More
Key senators have reached an agreement on IRS reporting rules for cryptocurrencies, U.S. Senator Rob Portman (R-OH) announced in a tweet Monday. The industry and regulators await further details, but it looks like lawmakers have found clarification on who is and isn’t a broker in the blockchain business. Sen. Portman said in a tweet early...Read More
In light of recent regulatory scrutiny on the entire industry from global watchdogs, digital asset exchanges have attempted to enhance their efforts in order to comply with emerging legislation. The latest to outline its strategy is FTX, as the company’s CEO explained. FTX’s KYC/AML Endeavors The cryptocurrency space saw massive growth in the past year...Read More
The controversy surrounding the cryptocurrency taxation bill that might be passed in the United States has evoked a mixed reaction from crypto proponents. While the debate is still ongoing, Jack Dorsey, a popular Bitcoin advocate and CEO of the popular microblogging platform, Twitter, has recently shared his views on the matter. In a series of...Read More
The crypto community continues to rally the troops just hours ahead of the crucial vote on digital asset taxation from US Congress. This time, they have received support from one of the most influential people today – Elon Musk. CryptoPotato reported yesterday the controversy that arose from US authorities in regards to the country’s attempt...Read More
With new regulation and taxation on the cryptocurrency industry coming from the U.S., the situation just took another turn as President Joe Biden openly supported the highly unfavorable amendment proposed earlier by Senators Mark Warner and Rob Portman. Biden’s backing seems to target proof-of-stake assets, while mining appears untouched. Sitrep: Taxation and Regulation on Crypto...Read More
The world’s leading cryptocurrency exchange continues to tailor its product suite in a way that caters to customer protection regulations. In a recent announcement, the exchange revealed that users from Hong Kong “will not be able to open new derivatives products accounts,” with immediate effect. Moreover, “with effect from a date to be announced in...Read More
During an interview with Bloomberg, Gensler admitted that he is intrigued by the cryptocurrency space, but that wouldn’t deter him from protecting US investors via enhanced regulations on the market. Being deeply familiar with the blockchain space, as he taught DLT classes at the Massachusetts Institute of Technology (MIT), Gensler was expected to have a...Read More
