Search results: law

Italy has become the latest jurisdiction to clamp down on Binance amid regulatory pressure around the world centered on the biggest crypto exchange by trading volume. Fast facts Binance Group companies are “are not authorized to provide investment services and activities” in Italy, not even through the exchange’s website, “whose sections called ‘derivatives’ and ‘Stock […]

Ripple scores major discovery win as judge rules ex-SEC official William Hinman must answer ‘central question’ on Ethereum in the globally-watched case about XRP.

India seeks crypto advice meanwhile K-drama joins NFT bandwagon

Tether stablecoins linked to funds funneled to banks in Singapore and elsewhere amid worldwide cryptocurrency crime increase.

Top blockchain and crypto news: Crypto markets await Bitcoin fund release. USDC issuer opts for the back door. In China, NFT copyrights and wrongs.

ICICI blocks crypto transfers as South Korean banks are to report crypto crime.

London police announced on Tuesday they have seized a record £294 million (US $408 million) in cryptocurrency in less than a month, as part of an ongoing investigation into money laundering. Fast facts According to London police, their recent £180-million (US＄248.8 million) seizure in cryptocurrency comes less than three weeks after a £114-million (US＄157.5 million) […]

A Shanghai procuratorate has held a seminar gathering judges, police, procurators and scholars to discuss how crimes related to cryptocurrency fit into China’s current legal framework. Fast facts The procuratorate said in a post on Monday that there had been confusion as to how to categorize cryptocurrencies. Some consider them data, while others regard them […]

South Korean lenders Kbank, Nonghyup Bank and Shinhan Bank have decided to extend their affiliations with cryptocurrency exchanges until a crypto exchange law compliance deadline of Sept. 24. Fast facts Kbank’s contract ended in June, and Nonghyup and Shinhan’s end in late July. Instead of renewing their contracts with the exchanges, the three banks have […]

Ban on branded content covers range of financial services and ‘get-rich-quick’ schemes boosted by influencers with young followings.

Despite opposition from the U.S. Securities and Exchange Commission, Ripple is pushing ahead with plans to question former SEC director William Hinman, the former head of the regulator’s Division of Corporation Finance, telling the judge overseeing discovery in the SEC v. Ripple Labs lawsuit that Hinman’s deposition has been rescheduled to July 19, according to a […]

Crypto industry gets the ‘overleveraged’ label and authorities are cracking down on derivatives providers. Alexander Höptner of 100x believes the pushback foreshadows the industry’s next big thing — derivatives.

Cryptocurrency miners blamed for blackouts as government eyes excess electricity for mooted state crypto mining operation.

Regulators in South Korea clashed with blockchain game developers yesterday at an event entitled “The Future of Blockchain Games in Korea,” at which arguments centered on whether incorporating blockchain into gaming could lead to speculation and whether game developers were being discriminated against. Fast facts Blockchain games in South Korea include in-game items represented in […]

Circle, the issuer of stablecoin USD Coin, has announced that it will go public through a merger with special purpose acquisition company Concord Acquisition Corp in a deal valuing Circle at US$4.5 billion. Fast facts Law firm Brodsky & Smith has announced an investigation of the merger agreement, saying it may violate Concord’s fiduciary duties and the law. […]

NFTs offer haven as authors self-censor amid intensifying crackdown on free expression.

El Salvador’s government may face challenges in making Bitcoin legal tender, as more than three-quarters of the country remains skeptical of the plan, according to a report by Reuters. Fast facts A survey of 1,233 people across El Salvador earlier this month found that 54% of people said Bitcoin adoption was “not at all correct.” […]

Is William Hinman a former ‘high-ranking’ SEC official exempt from disclosing his prior communications on XRP, or must he provide testimony to Ripple?

Korea issues penalties for kimchi premium arbitrage as China holds its 15th digital yuan pilot trials.

Customs officers use foreign exchange law to shut down cycle of foreign remittances and arbitrage.

The Financial Action Task Force — the global anti-money laundering and counter-terrorist financing standards-setter — this week released its second 12-month review on virtual assets and virtual asset service providers, and called on countries to implement the revised FATF standards, including travel rule requirements “as soon as possible.” “The global nature of the underpinning technology […]

Israel’s National Bureau for Counter Terror Financing has issued a seizure order against 84 cryptocurrency addresses associated with Palestinian resistance group Hamas as it looks to confiscate holdings of Bitcoin, Tether, Dogecoin and other cryptos. Fast facts “This action comes after a sizable uptick in cryptocurrency donations to Hamas in May following increased fighting between […]

An Argentine lawmaker presented a bill this week to allow employees and those exporting services abroad to be paid in cryptocurrency, Yahoo News reports. Fast facts Congressman José Luis Ramón said that he presented this bill to allow Argentina’s people — whose local currency, the peso, currently suffers from roughly 50% inflation a year — […]

Top blockchain and crypto news: Ethereum upgrade, torque of the town. SEC in snafu over Bitcoin ETFs. Crypto miners flourish amid China fallout.

Centralized data management is outdated and vulnerable to hacking, says Li Jun of Ontology. Here’s how blockchain can make data more secure.

Three of the biggest cryptocurrency exchanges in South Korea have tightened restrictions on virtual currency trading by their employees in a move designed to comply with the nation’s crypto regulations. Fast facts Bithumb announced that starting this month, it had banned its employees from trading cryptocurrencies using Bithumb accounts. The exchange has made employees sign […]

Being a ‘crypto native’ involves much more than using Bitcoin and DeFi, writes Alvin Lee of DeGate DAO. It’s sharing core values like freedom and inclusion.

Crypto exchanges WazirX and Binance look to implement stronger compliance measures. Forkast News speaks with FTX founder and CEO Sam Bankman-Fried about crypto regulatory measures in Asia. Chinese district rewards residents with e-Yuan for counting footsteps. We’ll have more on these stories and other news shaping the cryptocurrency and blockchain world in this episode of […]

El Salvador recently became the first country to recognize Bitcoin as legal tender, and it seems unlikely to be the last. Samson Mow, chief strategy officer of Bitcoin technology company Blockstream, looks forward to a future in which Bitcoin edges out fiat currency.

As countries step up their implementation of the Financial Action Task Force’s standards, the list of regulators that have Binance in their crosshairs just keeps growing longer. Fast facts Thailand’s Securities and Exchange Commission today filed a criminal complaint against Binance — the world’s largest cryptocurrency exchange by trading volume — for operating a digital asset […]

Ripple says William Hinman holds important insights into SEC’s stance on Bitcoin, Ether and XRP. How is Hinman’s 2018 speech on crypto relevant to the lawsuit?

Top blockchain and cryptocurrency news: Binance bounced out of Britain. Musk moves Shiba Inu prices again. China’s digital currency gets ready to roll.

Demand for blockchain analytics is on the rise as FTX partners up with NFL superstar quarterback Tom Brady and supermodel Gisele Bündchen.

Taiwan is set to enact new anti-money laundering rules that take effect July 1 to further boost AML requirements for crypto exchanges.

How value is created Our methodology for calculating the value of this market includes tokenized commodity, energy, currency (i.e., stablecoins), gold and real estate projects. Calculations include publicly listed projects found via Blockexplorers. It excludes cryptocurrency, as it’s a native digital asset, as well as DeFi projects because of their extreme volatility. All tokenized assets […]

Through tomorrow, a Senate committee is taking public comments on how best to make Australia into a global crypto leader and fintech hub.

Hong Kong’s Securities and Futures Commission chief, Ashley Alder, kicked off a firestorm during Hong Kong FinTech Week 2020 by announcing a plan to regulate all cryptocurrency exchanges that operate in the city or target its citizens.  These new proposed rules would replace a voluntary framework introduced in 2019 that allowed exchanges to opt in […]

Crypto investment in India has grown from about US$200 million to nearly US$40 billion in the past year, driven in large measure by demand among young investors.

Nansen, a Singapore startup, is the latest darling of venture capitalists like Andreessen Horowitz (a16z) bullish on the growing field of crypto analytics.

Interview with Phil Mochan, founder of UK-based custody provider Koine Forkast.News: What is a custody solution? What’s the difference between simple cold storage and custody? Phil Mochan: Custody is about a lot more than simply managing safes (or cold stores). The trade settlement process is an integral part of the function of the custodian. At […]

Interview with Thor Chan, CEO of AAX Forkast.News: The value of digital assets has exploded during the last year, and we are now at levels well above previous forecasts. What are you seeing in the market right now? Thor Chan: We think that the global crypto market is growing. More money is flowing in, and […]

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FCA says Binance is not permitted to offer regulated activities in the UK, but users of the world’s largest crypto exchange remain unaffected — for now.

As China shuts down crypto mining over environmental concerns, miners are moving next door to Kazakhstan, one of the most coal-rich countries in the world.

Bitcoin was recovered by the FBI from the Colonial Pipeline ransomware cyber criminals DarkSide, sparking privacy concerns around cryptocurrencies.

SEC does not want its former head of Corporation Finance to testify or answer question about XRP. Who is William Hinman — and what might he tell Ripple?

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Law enforcement agencies in several countries have arrested suspected members of a crypto-linked cybercrime group believed to be responsible for laundering more than US$500 million from ransomware attacks.

A university in Paraguay has announced that it will begin accepting cryptocurrency as payment for tuition starting from August.

Auction house Lloyds Auctions Australia has begun accepting cryptocurrency for all purchases on its marketplace.

A judge has granted Ripple’s request to force the U.S. Securities and Exchange Commission to reveal its non-public policies regarding whether agency employees may buy and sell XRP and other cryptocurrencies, according to a screenshot of a new legal filing shared by the lawyer representing XRP holders. Fast facts: Earlier this month, Ripple sought the […]

John McAfee has died by suicide in a prison cell in Barcelona after a Spanish court authorized his extradition to the US where he faced tax evasion charges.

Top blockchain and cryptocurrency news: Bitcoin’s still winning. Titan’s troubles as a teachable moment. Beijing creates a crypto mining diaspora.

Another legal challenge faces cryptocurrency exchange Upbit. In China, Ant Group is getting into the NFT game — through Alipay.

South Korean crypto exchange Upbit — the country’s biggest — is facing a lawsuit filed by a university foundation alleging patent infringement.

Indian cryptocurrency investors could face a 2% levy on transactions made through foreign-owned crypto exchanges operating in the country.

Two nominees to the U.S. Treasury Department have promised, if they are confirmed in their posts, to implement new regulations relating to cryptocurrency.

The next generation of mining hot spots are shaping out in the aftermath of China’s mining exodus as Upbit’s delisting generates new enemies.

Kazakhstan offers nearby bolthole as North America and Europe beckon.

The Ontario Securities Commission (OSC) is seeking to bring enforcement action against Singapore-based crypto derivatives exchange Bybit for allegedly violating the Canadian province’s securities laws, according to a statement. Fast facts: “Bybit, incorporated in the British Virgin Islands, is operating an unregistered crypto asset trading platform, encouraging Ontarians to use the platform, and allowing Ontario […]

Sotheby’s has announced it will be accepting cryptocurrency as payment in an upcoming auction for a 101.38-carat diamond with flawless clarity.

CBDC ATMs appear around Beijing and Hong Kong-based Amber Group is Asia’s billion dollar unicorn after raising US$100 million in its Series B.

South Korean lenders have started money laundering risk assessments of the country’s “big four” cryptocurrency exchanges, with which they have contracts to provide real-name accounts.

Crypto literacy of Indian regulators is evolving and crypto players are trying to keep industry clean via self-regulations, says Nischal Shetty of WazirX.

Dashing hopes of greater regulatory clarity for the cryptocurrency industry, the U.S. Securities and Exchange Commission’s recently released annual regulatory agenda does not mention Bitcoin or cryptocurrency regulations.

Australian investors adversely impacted by repeated system failures on Binance are considering taking a class action lawsuit to recoup their losses.

Self-published tokens get barred from South Korean exchanges as Hong Kong’s air quality recording meets blockchain technology.

Bitcoin sheds 4% but BTC’s share of the total crypto market grows after US Fed projects higher inflation and plans interest hikes earlier than expected.

The El Salvadorean Department of Labor and Social Welfare has had to clarify it is not within its purview to determine whether salaries can be paid in Bitcoin.

Top blockchain and crypto news: Bitcoin finds fresh favor in Global South. Why would hackers demand a Bitcoin ransom? Chinese miners eye Yunnan probe.

Fifty South Korean crypto exchanges have applied for certification under the country’s Information Security Management System — the first step in meeting stringent new crypto exchange regulations.

A judge has denied the U.S. Securities and Exchange Commission’s request for documents related to Ripple’s XRP transactions and lobbying efforts that took place after the SEC filed its lawsuit last December, according to a new legal filing. Fast facts: “As discussed in the Court’s earlier Opinion and Order denying access to Ripple’s privileged communications, […]