During a period of major corporate and institutional interest in the crypto industry, nearly 5,000 new tokens have emerged in the last 12 months, averaging over 10 new coins per day, new data shows. Cryptocurrency Boom of 2021 As can be observed on CoinMarketCap’s homepage, the number of existing cryptocurrencies has recently surpassed 12,000. This...Read More
The Swiss Financial Market Supervisory Authority – FINMA – would reportedly require local digital asset providers to take additional steps in preventing criminals from employing cryptocurrencies. The watchdog would also turn its sight towards bitcoin ATMs as it believes that drug dealers often use these machines. FINMA Targets Criminals Operating with Crypto According to a...Read More
Following today’s events, Senator Pat Toomey says that the ongoing cryptocurrency crackdown in China is a considerable opportunity for the United States. Earlier today, reports revealed further regulatory pressure on cryptocurrencies in China. This time, the country seems to target mining and trading. Although not many of it was new, the announcement triggered a market-wide...Read More
Dubai World Trade Center Authority (DWTCA) announced recently that it has partnered with the UAE’s Securities and Commodities Authority (SCA) to make cryptocurrency trading, issuance, and regulation completely legal within its jurisdiction – the DWTCA freezone. DWTCA Makes Crypto Activities Legal Notably, the agreement was signed by the acting CEO of the SCA Dr. Maryam...Read More
JPMorgan Chase and Deutsche Bank are among the financial institutions that are opposing the new rules that would require them to set aside a dollar in capital for every dollar of Bitcoin they own. The rules were proposed in June by a group of global central bankers and regulators known as the Basel Committee for...Read More
David Ignatius of the Washington Post interviewed SEC chair, Gary Gensler, on the cryptocurrency landscape, his thoughts on his approach to regulating the crypto space. Gensler expresses optimism for the possibilities crypto provides for enhancing finance, but also that he believes most of the space should fall under regulatory supervision – including stablecoins. At the...Read More
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
