Nigerian Entrepreneur: Recent Regulatory Moves Signal Support for Crypto

September 22, 2024 Bitcoin.com

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While Nigerian authorities have generally been perceived as having an anti-crypto stance, recent developments on the regulatory front suggest a shift toward supporting crypto businesses. Buchi Okoro, CEO of the digital asset exchange Quidax, which recently obtained an operating license, believes these developments could lead to broader adoption of crypto assets in Nigeria. Quidax Wins […]

US Lawmakers Call for Clear SEC Rules on Digital Asset Airdrops

September 19, 2024 Bitcoin.com

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Congressman Tom Emmer is pushing the U.S. Securities and Exchange Commission (SEC) to provide clear rules on digital asset airdrops, arguing that current regulatory uncertainty is stifling innovation and blocking American participation in blockchain projects. He emphasized the importance of airdrops in decentralizing networks and shaping the future of blockchain, criticizing the SEC’s approach under […]

Lawmaker Flags Concerns Over SEC’s Crypto Approach

September 18, 2024 Bitcoin.com

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Congressman French Hill has raised concerns over the U.S. Securities and Exchange Commission (SEC)’s handling of digital asset regulations, criticizing Chairman Gary Gensler’s leadership for creating legal uncertainty and a politicized approach. The lawmaker highlighted his subcommittee’s legislative successes but expressed frustration with the SEC’s broad and unclear regulations, which he argued burden digital asset […]

Bitgo to Launch USDS Stablecoin in January 2025

September 18, 2024 Bitcoin.com

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Bitgo plans to launch its new stablecoin, USDS, in January 2025, offering a unique model that rewards liquidity providers. The announcement was made by Bitgo CEO Mike Belshe during an interview with Coindesk at the Token2049 event in Singapore. The stablecoin will be backed by U.S. Treasury bills, overnight repos, and cash, aiming to create […]

Qatar Financial Centre Activates Digital Assets Lab

September 17, 2024 Bitcoin.com

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Qatar Financial Center (QFC) has launched its Digital Assets Lab, selecting 24 participants to develop innovative digital solutions using distributed ledger technology. Key partners include Google Cloud, Masraf Al Rayan, The Hashgraph Association, and R3. Lab Participants to Lead Digital Transformation In a move signaling Qatar’s embrace of digital assets, the QFC, the region’s leading […]

Elon Musk Warns US Laws and Regulations Will Worsen Every Year Without Major Reform

September 13, 2024 Bitcoin.com

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Tesla and Spacex CEO Elon Musk has warned that without substantial government reform, laws and regulations will worsen annually, potentially stifling major initiatives. He has reiterated his call for significant U.S. government changes and agreed to help former President Donald Trump lead a new government efficiency commission, an idea he proposed. Musk believes reducing wasteful […]

Nigerian Regulator Threatens Crackdown on Unlicensed Crypto Entities

September 10, 2024 Bitcoin.com

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The Nigerian Securities and Exchange Commission (SEC) has vowed to crack down on unlicensed cryptocurrency businesses targeting Nigerians. This comes just two weeks after approving two crypto exchanges and promising to consider similar applications. The SEC aims to protect investors without hindering innovation. To achieve this balance, Emomotimi Agama believes Nigeria needs a clear regulatory […]

US Banking Regulator Calls for Stronger Oversight of Crypto Risks

September 5, 2024 Bitcoin.com

bank

Acting Comptroller Michael Hsu has emphasized the importance of proactive oversight in managing crypto risks. He cited the 2022 crypto market collapse, with a $2 trillion loss, where effective supervision kept banks stable. Hsu emphasized the need for vigilant supervision as digital assets and fintech increasingly integrate with traditional banking, presenting new challenges and risks. […]

Hong Kong Regulator Launches Sandbox to Test Tokenized Asset Transactions

August 29, 2024 Bitcoin.com

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The Hong Kong Monetary Authority has launched a sandbox to test the use of tokenized assets in real-world scenarios. The sandbox aims to promote interbank settlement using tokenized currency and central bank digital currencies. The HKMA will collaborate with other regulators and industry players to support the development of Hong Kong’s tokenization market. Testing Tokenized […]

SEC Issues Wells Notice to Opensea, Alleging NFTs on the Marketplace Are Securities

August 28, 2024 Bitcoin.com

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The U.S. Securities and Exchange Commission (SEC) has issued a Wells notice to Opensea, signaling potential enforcement action against the NFT marketplace. Opensea’s CEO criticized the SEC’s move, claiming it could negatively impact innovation and creators’ livelihoods. The platform is prepared to contest the action and has committed $5 million to support NFT creators facing […]

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