Regulatory

China’s central bank has reiterated its ban on cryptocurrency trading and yesterday said it had ordered a company in Beijing suspected of offering software services for crypto trading to shut down as part of an ongoing nationwide crackdown on the crypto industry. Fast facts A Beijing office of the People’s Bank of China and a […]

Facing an onslaught of regulatory scrutiny, Binance CEO calls crypto regulations ‘positive sign’ of a maturing industry and announces new hires in compliance.

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 […]

Crypto exchange Huobi yesterday issued an announcement in simplified Chinese saying that it would implement a “T+1” withdrawal freezing time for all over-the-counter trades, meaning that traders can transfer cryptocurrency out only 24 hours after depositing it. In some cases, the freeze will last up to 36 hours.  Fast facts At present, the announcement appears […]

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

Nasdaq-listed Coinbase, the largest cryptocurrency exchange in the United States, announced today its plans to expand its business internationally as it seeks to improve its asset-listing process and build a crypto app store. Fast facts: “We’re seeing crypto quickly mature from its initial use case of trading bitcoin to the trading of thousands of new […]

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

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.

Chinese cryptocurrency exchange Huobi has stopped providing crypto derivative trading services to users in China and Taiwan.

Mexico’s finance minister reiterated his country’s ban on cryptocurrencies on Monday, saying they are not legal tender and are not to be treated as currencies within the country

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.

Why are so few adopting FATF guidance for VASPs? Money laundering watchdog decries ‘continued misuse of virtual assets through jurisdictional arbitrage.’

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.

Chinese crypto mining rig maker Bitmain has decided to suspend global spot sales of its Antminer machines, as some of its clients are reselling their rigs.

South Korea’s presidential office has reacted defensively to a petition calling for the chief of the country’s main finance sector regulator to step down over comments he made about cryptocurrencies.

Chinese mining rig maker Bitmain is offering assistance to clients that want to relocate their cryptocurrency mining operations from China to other countries.

Chinese mining rig maker Bitmain has stopped selling in-stock cryptocurrency mining equipment amid a plunge in the prices following a shutdown of major mining pools in China.

Iranian police have confiscated 7,000 cryptocurrency mining machines from an abandoned factory in western Tehran, the largest batch discovered in recent days.

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

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 […]

The People’s Bank of China has told the country’s big banks and other finance sector heavyweights to cut off financing sources for cryptocurrency transactions.

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.

The Bitcoin hashrate plunged over the weekend following a clampdown on cryptocurrency mining by the southwestern Chinese province of Sichuan.

The city’s mayor says it welcomes an exodus of miners from China amid a generalized clampdown on the industry.

Miners face imminent shutdown as power companies told to cut electricity, according to multiple reports.

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.

Chinese stock trading app Futu Niuniu has suspended Chicago Mercantile Exchange cryptocurrency futures services and stopped supplying crypto market information.

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

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.

The Indian government and leading industry stakeholders are reviewing elements of legislation that proposed a ban on cryptocurrencies.

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.

Following rumors of a possible ban on cryptocurrency mining in the province last week, its energy regulator has clarified an approach to the industry that looks set to rein in rogue operators.

Thailand’s securities regulator has announced new rules for cryptocurrency exchanges in the country, including a ban on utility tokens and meme tokens.

On June 14, the difficulty of Bitcoin mining fell 5.3%, the first time this year that there have been two consecutive downward adjustments.

A judge overseeing discovery in the U.S. Securities and Exchanges Commission’s lawsuit against Ripple Labs has granted the SEC’s request to extend deadlines by 60 days as well as a request by co-defendants Ripple CEO Brad Garlinghouse and executive chairman Chris Larsen to obtain information from 16 cryptocurrency exchanges outside the United States. Fast facts: […]

India’s central bank has clarified that cryptocurrencies are not illegal, but that does little to prevent lenders from refusing to provide crypto-related services.

India’s Enforcement Directorate has issued a show cause notice to cryptocurrency exchange WazirX for alleged foreign exchange violations involving 27.9 billion rupees (US$382 million).

A former governor of the People’s Bank of China said today that some cryptocurrencies have forfeited their opportunity to return to use as methods of payment.

Chinese crypto mining rig maker Bitmain is reportedly set to meet with miners and industry participants next week to discuss relocating mining operations overseas.

The Basel Committee on Banking Supervision has launched a public consultation on preliminary proposals for the treatment of banks’ crypto asset exposures.

El Salvador’s adoption of Bitcoin has the world buzzing. Can Singapore be next? China mining crackdown continues.

Cryptocurrency mining prohibition in Xinjiang and Qinghai follows Inner Mongolia ban.

South Korea’s main finance sector regulator has launched an investigation of accounts operated by crypto exchanges under false or third-party names.

In a new court filing, Ripple describes the damage the SEC lawsuit has already done to XRP and the payment company’s now-frozen US business.

Staking service provider Moonstake has partnered with UzNEX to provide blockchain consulting services in Southeast Asia and the Middle East.

Xinjiang and Qinghai regions in China are now banning cryptocurrency mining, after Inner Mongolia tightened its crypto mining ban last month.

A bill restricting the granting of crypto mining permits on environmental ground has passed the New York State Senate.

Iran wants to “preserve and protect national interests” in the field of digital currencies and cryptocurrencies, Iranian President Hassan Rouhani says.

The Ontario Securities Commission is set to take enforcement action against two companies behind the cryptocurrency exchange KuCoin for violating the province’s securities laws.

Microblog platform Weibo has blocked more than 30 influential Chinese cryptocurrency-related accounts amid a series of actions by Beijing against crypto mining and trading.

Australia’s first capital growth fund to offer institutional exposure to BTC has announced its received inquiries from some of the country’s largest companies.

Global crypto exchange Luno is in talks with conglomerate Lippo Group to launch operations in Indonesia in order to enter the Southeast Asian market.

Regulators Hainan province have issued a warning against illegal fundraising schemes using crypto or blockchain..

Many of Britain’s crypto firms are failing to meet required anti-money laundering and counter-terrorism financing laws, says the country’s watchdog.

To defend themselves against SEC lawsuit, Ripple’s CEO and chairman ask court for help getting XRP info from a who’s who list of offshore crypto exchanges.

Eleven users of Upbit have filed a class action lawsuit against its owner, Dunamu Inc., seeking damages over a suspected technical failure.

Google has announced plans to lift a ban on advertising cryptocurrency wallets and exchanges that has been in place for almost three years. A ban on advertising initial coin offerings will remain, however. Fast Facts: An advertising policy update on the company’s main webpage states that advertisers of crypto wallets and exchanges targeting the US […]

Chinese Bitcoin mining hardware maker Canaan says overseas sales accounted for almost four-fifths of its revenue during the first quarter of 2021.

Green crypto mining operations should be spared China’s recent crackdown on the sector, according to the CEO of Canaan Inc.

South Korean banks processed over 64 trillion won (US$57 billion) of deposits and withdrawals linked to crypto exchanges in the first quarter.

‘Know your customer’ is key to anti-money laundering efforts. Isabelle Corbett of R3 explains why blockchain is uniquely suited for KYC/AML.

Thailand’s Securities regulator has announced that digital tokens issued and offered for transactions must have its approval.

India’s central bank has said that banks and other finance sector businesses should not adhere to a prohibition it imposed on lenders dealing in cryptocurrencies.

Since Beijing’s announcement of tighter restrictions on cryptocurrency trading earlier this month, investors have found a workaround in over-the-counter and peer-to-peer transactions.

Banks in India, including some of the country’s largest lenders, are notifying their customers not to engage in cryptocurrencies, adhering to a central bank rule from 2018 that bans them from dealing in cryptos — despite the fact the ban was overturned by the Supreme Court more than a year ago.

Turkish regulators have tightened their grip on cryptocurrencies, but small traders and investors appear to have barely noticed.

SEC says Ripple had plenty of ‘notice’ that XRP transactions could be violating the law via its many enforcement actions against other crypto companies.

Gary Gensler, chairman of the U.S. Securities and Exchange Commission, has said he wants to see regulation to protect consumers built into the operations of cryptocurrency exchanges.

A proper regulatory system for cryptocurrencies and virtual assets can facilitate development, protect investors, and adhere to international regulatory standards, says treasury chief Christopher Hui

Ontario Securities Commission is taking enforcement action on crypto exchange Poloniex for its alleged violation of Ontario securities law.

The Chinese region of Inner Mongolia – once a thriving cryptocurrency mining hub that has recently enacted a series of measures to rein in the sector – has unveiled eight new proposals designed to give added force to its recently imposed, all-out ban on crypto mining.