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Report: 30% of UK Watchdog’s Financial Crime Experts Focused on Crypto Businesses in 2022-23

Report: 30% of UK Watchdog’s Financial Crime Experts Focused on Crypto Businesses in 2022-23According to a report, the Financial Conduct Authority, a watchdog for the financial services industry in the U.K., had 30% of its financial crime specialists focused on crypto-asset businesses. Assessments conducted by supervisors in the U.K. found that not only crypto-asset businesses, but nearly all participants in the country’s financial services sector, are susceptible to […]

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South African Regulator Licenses 75 Institutions as Crypto Asset Service Providers

South African Regulator Licenses 75 Institutions as Crypto Asset Service ProvidersSouth Africa’s Financial Sector Conduct Authority said on April 22 that it has approved 75 institutions to be licensed as crypto asset service providers (CASPs). The regulator said the unveiling of licensed CASPs is intended to dispel misconceptions arising from the supposedly misleading media reports. FSCA Continues to Receive License Applications The Financial Sector Conduct […]

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Philippines Securities Regulator Requests Apple and Google to Remove Binance Apps

Philippines Securities Regulator Requests Apple and Google to Remove Binance AppsThe Securities and Exchange Commission (SEC) of the Philippines has requested that tech giants Apple and Google remove Binance apps from their respective app stores. The SEC chairman stated that the blockade on Binance, coupled with the removal of its app, curbs the further spread of its unlawful activities in the country. Binance Apps Pose […]

Solana Faces a Bold New Challenger Lightchain AI and the Future of Blockchain

Two US Senators Introduce New Bipartisan Stablecoin Legislation

Two US Senators Introduce New Bipartisan Stablecoin Legislation

Two US lawmakers unveiled on Wednesday a proposed legislation that will create a regulatory framework for payment stablecoins. In a statement, senators Cynthia Lummis (R-WY) and Kirsten Gillibrand (D-NY) say the bipartisan Lummis-Gillibrand Payment Stablecoin Act will protect consumers, enable innovation and promote the dominance of the U.S. dollar while preserving the dual banking system. […]

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Australian Regulator Says Crypto Is a Debenture That Requires Regulation

Australian Regulator Says Crypto Is a Debenture That Requires RegulationThe chairman of the Australian Securities and Investments Commission (ASIC) has said his organization views cryptocurrency as a debenture hence it falls under regulatory purview. The ASIC chairman also argued that many cryptocurrency investors are unaware of what they are getting into. Crypto Falls Under the ASIC Regulatory Oversight Joe Longo, chairman of the Australian […]

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Cryptocurrencies Not Banned, Vietnam Requires Legal Framework for Regulation — Govt Official

Cryptocurrencies Not Banned, Vietnam Requires Legal Framework for Regulation — Govt OfficialA government official from Vietnam has stated that cryptocurrencies are not prohibited. However, the country urgently needs to establish a legal framework to regulate their use, the official said. The Finance Ministry has been tasked with drafting a framework to govern crypto assets, which is due for completion by May 2025. Finance Ministry Directed to […]

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Study Finds 70% to 80% of Secondary Market Transactions Involve Crypto and Stablecoins

Study Finds 70% to 80% of Secondary Market Transactions Involve Crypto and StablecoinsAround 70% to 80% of transactions in the crypto secondary market transactions occur between crypto assets and stablecoins. The South Korean government’s welcoming stance, coupled with the high popularity of crypto assets in the country, are among the reasons why the won is now the second most-used fiat currency. Decline in 2021/2 Crypto-to-Stablecoin Volumes According […]

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Australian Securities Regulator Appeals Federal Court Ruling Favoring Finder Wallet

Australian Securities Regulator Appeals Federal Court Ruling Favoring Finder WalletThe Australian securities regulator has said it will appeal the federal court’s dismissal of its civil penalty proceedings against Finder Wallet Pty Ltd. The regulator launched penalty proceedings against the crypto firm on Dec. 15, 2022, just days after Finder Wallet withdrew its Earn product. Product Finder Lacked the Necessary License or Authorization The Australian […]

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Lawmaker Highlights 2 Bills to Make US a Crypto Leader — Says Bitcoin Is ‘Unstoppable’

Lawmaker Highlights 2 Bills to Make US a Crypto Leader — Says Bitcoin Is ‘Unstoppable’Congressman Patrick McHenry says bitcoin is unstoppable and every regime that’s tried to shut it down has failed. He emphasized that the U.S. must become a leader in digital assets, noting that two congressional bills offer a path toward clear regulations. Two Pieces of Legislation Could Provide Greater Clarity in Digital Assets Congressman Patrick McHenry […]

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Coinbase Reaches ‘Crucial Milestone’ in Canada With Restricted Dealer Registration

Coinbase Reaches ‘Crucial Milestone’ in Canada With Restricted Dealer RegistrationCryptocurrency exchange Coinbase has announced that it has reached “a crucial milestone” in Canada by obtaining registration as a restricted dealer in the country. “Ranked as Coinbase’s third-most crypto-aware nation globally, Canada boasts an enthusiastic tech ecosystem that has the potential to be a leader in the global cryptoeconomy,” Coinbase noted. ‘Crucial Milestone in Coinbase’s […]

Solana Faces a Bold New Challenger Lightchain AI and the Future of Blockchain