Regulation

Revolut, PayPal, and Crypto Firms Seek Extension for MiCA Compliance: Navigating Challenges in EU’s Regulatory Landscape

Regulation (MiCA). As of December 2024, MiCA is set to enforce standardized licensing and tighter Anti-Money Laundering (AML) protocols for crypto firms across the European Union (EU). However, members of the Electronic Money Association, including Revolut, PayPal, and several other crypto entities, are advocating for an 18-month transition period, which could potentially be subject to […]

Regulation

DeFi: A Dormant Dragon or a Potential Financial Wildfire? Insights from EU Regulator

Decentralized finance (DeFi) has not yet posed a significant risk to the overall financial stability, as stated by the European Union’s financial markets and securities regulator. On October 11, the European Securities and Markets Authority (ESMA) released a report titled “Decentralized Finance in the EU: Developments and Risks.” The regulator discussed the pros and cons […]

Regulation

NASAA Takes a Stand: Why Coinbase Shouldn’t Get Special Treatment in SEC Lawsuit

The North American Securities Administrators Association (NASAA) has expressed its support for the United States Securities and Exchange Commission (SEC) in its legal dispute with Coinbase. This statement has been filed with the United States District Court for the Southern District of New York. NASAA contends that digital assets should not be treated as unique […]

Regulation

Taming the Wild West of Cryptocurrencies: SEC’s Gary Gensler Unveils New Regulations and AI Insights

SEC Chair Gary Gensler is preparing to discuss the Securities and Exchange Commission’s (SEC) updated approach to overseeing technological advancements, including cryptocurrencies and artificial intelligence (AI), in front of the U.S. House Financial Services Committee. Gensler’s opening remarks for the hearing on September 27 have been made available, shedding light on the SEC’s expanded regulatory […]

News Regulation

California’s Cryptocurrency Revolution: The Battle for Regulation and Innovation

Last week, the California Legislature took a significant step by approving a bill designed to establish a new set of rules and licensing requirements for cryptocurrency firms. The bill also intends to implement various regulatory measures to oversee these crypto companies. Currently, the bill is awaiting approval from Governor Gavin Newsom, who has until October […]

News Regulation

India Surges to Second Place in Global Cryptocurrency Transactions, Defying Regulatory Challenges

India has secured the second spot globally in terms of cryptocurrency transaction volume, as revealed in a recent report by Chainalysis. Despite facing challenges related to tax laws, India has emerged as a significant player in the crypto market, surpassing the UK, Turkey, and Russia. According to Chainalysis, India has showcased remarkable grassroots adoption, with […]

News Regulation

Takedown of Hong Kong Crypto Exchange: Influencer Arrested in HK$34 Million Scandal

Hong Kong authorities have arrested an internet celebrity for allegedly promoting the unlicensed cryptocurrency exchange known as JPEX. The arrest comes after more than 83 reports were filed against JPEX, resulting in an estimated loss of HK$34 million. The Securities and Futures Commission (SFC) has raised concerns about JPEX’s active promotion of its services without […]

Regulation

Ethereum Co-Founder’s Optimistic View: How Crypto Regulation Will Align with U.S. Principles

Joseph Lubin, one of the co-founders of Ethereum and the CEO of ConsenSys, expressed confidence that the ongoing legal battles between the U.S. Securities and Exchange Commission (SEC) and various crypto firms will eventually find a resolution in favor of the crypto industry. He believes that U.S. regulators will come to recognize the alignment of […]

Regulation

Kemenag developing a crypto asset ecosystem authority will be transferred to OJK later

Deputy Trade Minister Jerry Sambuaga explained that the government continues to encourage the development of the digital economy in Indonesia. One of them is through the development of a national crypto asset ecosystem, and later the regulation and supervision will be handed over to the Financial Services Authority (OJK). This was conveyed by the Deputy […]