Articles filed under

Regulatory

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September 2021

Why decentralization can help solve the content moderation problem | Ep. 3

Why is content moderation a cosmically huge problem, do humans need to be involved and how can the decentralized web ensure it’s a place for everyone.

India may not be ready to follow El Salvador’s lead, but don’t rule out cryptocurrency, finance minister says

Nirmala Sitharaman says ‘a futuristic thing can’t be shut out’ as the country considers crypto regulation, including a possible blanket ban.

Upbit passes Korea crypto race post; P2P transactions surge in India

Upbit passes Korea crypto race post meanwhile P2P transactions surge in India

Black Friday in South Korea as crypto exchanges announce shutdown

All but four platforms in South Korea obligated to announce the suspension of their services by today.

South Korea’s crypto ‘death note’ updated; 7 more exchanges to survive

Financial authorities reveal an updated list of virtual asset platforms that have complied with new regulations.

SEC pushes back on Ripple’s legal questions over XRP

Ripple wants to know how SEC regards Bitcoin, Ether and XRP, but SEC says Ripple is repeating the same questions as ‘they do not like the answers they received.’

El Salvador wowed the world by adopting Bitcoin as legal tender. Other countries are taking note

Following crypto’s adoption in one struggling economy, nations in Latin America and elsewhere are now weighing the pros and cons of digital currency

What decentralization means for internet censorship | Ep. 2

What was internet censorship like in the early days, how has it changed, and what role does decentralization play.

South Korean crypto exchanges in ‘purgatory’ plea for survival

Smaller virtual asset exchanges ask for mercy as a deadline looms to commit to Korea’s new standards.

Bitcoin price plunges; Metaverse actions heats up in China

Bitcoin price plunges however Metaverse actions heats up in China

SEC threatens to sue Coinbase over high-yield savings account

Crypto platform CEO claims regulators use ‘intimidation tactics behind closed doors’ by refusing to provide clarity.

South Korea expected to allow more crypto exchanges to survive do-or-die regulations

Only 21 out of 60 exchanges are expected to continue their services in Korea.

How aggrieved traders are uniting against Binance after the crypto crash

Too small to fight as individuals, Binance users are now banding together to take on the world’s largest crypto exchange in arbitration. David Kay of Liti Capital explains how it’s done.

So, no ban? India’s crypto bill will treat virtual currencies as commodities in the asset class

The veil of uncertainty that has shrouded crypto regulatory discussions seems to be lifting, but how the government will regulate and tax digital money remains to be seen.

Exchanges in South Korea race toward last chance of survival

Crypto trading platforms rush to meet a Sept. 24 deadline, hoping to comply with new rules designed to protect investors.

Australian consumer protection body issues warning to crypto investors

The Securities and Investments Commission warned against investing in digital-asset financial products. Some say the warning lacks specifics.

FastForkast headlines

Laos backpedals on crypto ban, looks to trading, mining pilot program

South Korean exchanges close cash-to-crypto trading services as new rules loom

Australian banks defend decision to shun business with crypto providers

Mark Cuban to Coinbase: ‘Go on the offensive’ against SEC over high-yield product

Hong Kong regulator: ramp up oversight of virtual assets

SEC charges BitConnect founder with $2B ‘textbook Ponzi scheme’

September 2021

More teens in South Korea buy crypto despite strict pending regulations

New data shows increasing deposits made by teens in virtual currency despite new rules that may close down many platforms in less than a month.

How regulators should consider the future of DeFi | Ep. 1

What is DeFi, why it’s poised to enable financial inclusion, and how the showdown between decentralized finance and regulators is taking shape.

Court in China says trading in cryptocurrency ‘not protected by law’

The ruling by Shandong’s High Court backs up China’s official stance against trading in cryptocurrencies. What does this mean for investors?

Ripple: SEC ex-chief Hinman’s views on XRP are ‘dubious’

Ripple also challenges SEC’s use of ‘deliberative process privilege’ to prevent agency documents on Bitcoin, Ethereum and XRP from disclosure.

Binance users burned by outage band together to take legal action

Crypto traders who suffered losses on Binance due to tech outages are turning to arbitration and crypto litigation finance.

India’s crypto sector on edge as bill that may lead to ban awaits cabinet approval

If cabinet approves crypto bill by November, it could be introduced as early as parliament’s winter session.

Ripple decries SEC’s demand for employee Slack messages on XRP

Ripple claims the SEC’s request for 1 million more of the company’s internal messages is costly and unlikely to resolve disputes at the heart of the litigation.

How to avoid the pitfalls of FATF’s crypto travel rule

Crypto exchanges, or VASPs, are coming under increasing regulation. Complying with the Financial Action Task Force’s travel rule will be one of them.

Unocoin now allows Indians to buy pizza, coffee with Bitcoin

Several cryptocurrency payment methods exist around the world, but new service is the first major one of its kind in India.

Crypto miners set to be snared by U.S. infrastructure bill

A landmark US$1 trillion infrastructure bill moved one step closer to becoming law on Sunday, notably without carve-outs for cryptocurrency miners and network validators. What does it mean for the industry?

What is the regulatory outlook for virtual asset exchanges in Hong Kong and Singapore?

Singapore and Hong Kong are at the forefront of regulations over crypto exchanges, writes Vince Turcotte of Eventus Systems. Here’s why trade surveillance and risk management will be critical.

Ripple expands XRP into NFTs amid escalating legal battles

As court grants CEO request to obtain info from Binance to bolster defense in SEC lawsuit, Ripple seeks to expand use cases for XRP Ledger.

Ethereum rising: 3 reasons why Ether’s price could soon break $3,000

Will Google greenlighting US crypto ads, Ethereum’s London upgrade and clearer regulations pave the way for another Ether price rally?

Chinese central bank shows no sign of softening stance on crypto

People’s Bank of China vows to keep sector under ‘heavy pressure’ as it pushes digital yuan.

Binance in Malaysia ban as it ends derivatives trading in Germany, Italy, Netherlands

World’s biggest cryptocurrency exchange steps up compliance and cuts product offerings, with a ban in Malaysia and end of lucrative derivatives business in three EU nations.

FastForkast headlines

SEC charges BitConnect founder with $2B ‘textbook Ponzi scheme’

Philippines may classify Axie Infinity as a company running a payment system

Cardano Foundation partners with Coinfirm for AML/CFT compliance

Crypto bank in South Korea says it aims to comply with strict but unclear new law

Canadian regulator seeks enforcement action against crypto exchange OKEx

China shuts down website and social media of high-profile blockchain center

Shanghai court rules Bitcoin is virtual property, not currency

Netherlands warns Binance is illegally offering crypto services

El Salvador’s finance minister says Bitcoin is ‘totally optional’

U.S. Treasury eases concerns over crypto reporting requirements

Iran tax authority pushes to legalize crypto exchanges

US Senate passes $1 trillion infrastructure bill with crypto tax requirements

Tencent blockchain applet IOU accused of breaking Chinese competition law

USDC issuer Circle to become full-reserve digital currency bank

First SEC DeFi bust made in US$30M fraud case

Venezuela launches CBDC amid runaway inflation and currency redenomination

U.S. infrastructure bill set for possible change following crypto industry backlash

SEC chair labels crypto industry ‘Wild West,’ asks for more powers

HSBC blocks UK customer payments to Binance

U.S. infrastructure bill could bring sweeping regulatory changes to crypto

August 2021

Chinese authorities swoop on 380 suspected crypto and wire fraud groups in 1H 2021

Wire fraud, including cryptocurrency-related fraud, becomes fastest-growing crime as scams — some even involving China’s digital yuan project — proliferate.

Crypto mining rig giant Bitmain divests from AntPool, the world’s biggest mining pool

Bitmain’s move comes amid China’s crypto mining crackdowns and AntPool’s shrinking hashrate. Is Bitmain gussying up for an IPO?

Binance CEO reiterates willingness to replace self, beefs up KYC

Binance also tightens withdrawal limits and unveils new tax reporting tool, to counter recent flurry of government investigations and bad publicity.

Huobi’s stock plunges in Hong Kong as it shuts Beijing unit

Closure of blockchain business may be related to regulatory concerns, but unlikely to hit crypto industry hard, observers say.

Crypto miner ships China-based rigs abroad in deal with U.S. fossil fuels firm

Optimum Mining Host-Black Rock Petroleum plan comes as Canaan seeks greener operations through Czech partnership.

Russia looks to tap demand for power as crypto miners flood out of China

Plentiful electricity, cold climate are among drawcards as Chinese mine operators flee crackdown at home.

Chinese crypto news service forced to shutter site

Bishijie’s suspension deprives users of industry news and community forum as Beijing continues campaign targeting cryptocurrency sector.

Hong Kong raid uncovers suspected US$155M crypto laundering scheme

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

SEC says Ripple not entitled to testimony on XRP from ex-director

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

FastForkast headlines

U.S. infrastructure bill could bring sweeping regulatory changes to crypto

Iran’s electric utility issues warning about Chinese crypto miners

Bitmain joins hands with Kazakhstan mining farm Enegix to host rigs

BIT Mining to exit lottery business for crypto mining expansion

Turkey to debate crypto regulation bill in October

UK finance watchdog to spend £11M to warn young people off crypto investment