ARAX Holdings Corp, a well-known player in the digital asset management industry, has recently made a significant move by acquiring a 20% stake in The Nemesis, an innovative open-world metaverse platform. This strategic investment not only reflects ARAX’s financial commitment but also signifies its dedication to shaping the future of digital interactions. Ockert Loubser, the […]
Singapore’s Monetary Authority (MAS) has unveiled a robust regulatory framework for digital payment token service providers (DPTSPs) to enhance governance and operational standards in the cryptocurrency sector. This move is aligned with MAS’s commitment to ensuring a secure digital finance environment. A key focus of the new regulations is the protection of retail investors. MAS […]
SoFi, the financial services platform that introduced cryptocurrency trading in 2019, has announced its decision to exit the crypto business due to increased regulatory scrutiny in the sector. The company has disabled new account creation and is giving existing users a three-week window to migrate their crypto accounts to Blockchain.com. After this period, accounts will […]
In the latest crypto developments, Federal Reserve Chair Jerome Powell has become a focal point. Powell expressed optimism about the Fed’s progress, balancing the risks of slowing the economy with controlling inflation. The “soft landing” scenario seems likely, with strong job growth and cautious steps amid economic uncertainty. In other news, Coinbase CEO Brian Armstrong […]
The U.S. Securities and Exchange Commission (SEC) is currently engaged in a legal battle with major cryptocurrency platforms, Kraken and Coinbase, over alleged violations of trading rules. This clash highlights the SEC’s struggle to apply traditional regulations to the dynamic and evolving world of digital assets, leading to conflicts and concerns within the crypto community. […]
In a move to enhance oversight on cryptocurrency holdings, Spain has implemented a new regulation requiring residents with crypto assets on foreign platforms to report their holdings by March 31, 2024. The Spanish Tax Administration Agency, also known as Agencia Tributaria, unveiled Form 721, a dedicated tax declaration form for virtual assets held overseas. The […]
Cryptocurrency exchange Binance has come under scrutiny in the Philippines as the local securities regulator, the Securities and Exchange Commission (SEC), revealed that the platform has been operating without the necessary approval or license. In a warning issued on November 28, the SEC stated that Binance is not authorized to sell or offer securities in […]
The Democratic Party of Korea has introduced a new requirement for its candidates, making it mandatory for them to disclose their cryptocurrency holdings, professional backgrounds, academic history, and photos to the public. This move is aimed at enhancing transparency and building public trust ahead of South Korea’s 2024 general election. Han Byung-do, the chairman of […]
Australian regulators are set to require local businesses to disclose any ransomware cyberattacks on their operations, aiming for greater transparency in the face of escalating cyber threats. The move comes as the country’s economy suffered a staggering $2.59 billion loss to cybercrimes in 2021. The upcoming national cybersecurity strategy, slated for unveiling this week, will […]
Summary: BlackRock, a major investment management firm, has raised concerns over the U.S. Securities and Exchange Commission’s (SEC) unequal treatment of spot-crypto and crypto-futures exchange-traded fund (ETF) applications. The firm’s application for a spot-Ether (ETH) ETF, named the “iShares Ethereum Trust,” questions the SEC’s basis for consistently rejecting spot crypto ETFs while approving crypto futures […]