Regulation & Law

Russia has postponed the trial of a digital ruble originally scheduled for April 1, as it awaits a regulatory framework to be adopted before the pilot, according to a report by state-owned news agency TASS.

As US authorities continue to police crypto regulations, we take a look at the direction the country’s crypto innovation is headed.

European lawmakers have adopted legislation imposing a €1,000 (US$1,084) cap on anonymous cryptocurrency transactions, as part of the Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) package.

Top blockchain and crypto news: Binance targeted in CFTC lawsuit. Law catches up with Do Kwon. Chinese banks bet on Hong Kong crypto.

Bitcoin rallied above US$28,000 in Wednesday afternoon trade in Asia after losing ground earlier in the week when U.S. regulators filed a lawsuit against Binance, the world’s biggest crypto exchange, for allegedly breaching trading rules.

Seychelles-based cryptocurrency exchange OKX said it will apply for virtual asset licenses to operate digital asset services in Hong Kong.

Asia-Pacific nation are leading the way in developing global cryptocurrency regulations that favor innovation, which is something that U.S. regulators should also take note of, said Ripple Labs Inc. President Monica Long

Bitcoin and Ether continued to fall in Tuesday afternoon trade in Asia, along with most other top 10 cryptocurrencies by market capitalization, after regulators in the U.S. pulled up Binance, the world’s biggest crypto exchange, for allegedly violating trading mandates.

The Group of Seven industrial countries will discuss tougher rules on cryptocurrencies to improve transparency, protect investors.

Most cryptocurrencies saw a huge increase in price over the past week.

Hong Kong’s new crypto licensing regime isn’t the only bullish sign for the city’s digital asset industry, says Signum Digital, the first company to win a preliminary license to handle securitized tokens in the city.

Angelina Kwan, who helped shape early Hong Kong automated trading services and internet trading regulation, told Forkast the upcoming virtual asset licensing regime is almost identical to that for traditional financial institutions.

Hong Kong has opened its doors to the world once more, and it spared no time hosting blockchain and web3 focused summits.

The IRS intends to tax NFTs as collectibles in the U.S. and is soliciting public opinions on the proposal through June.

WazirX, India’s largest crypto exchange by trade volume, has blacklisted over 2,431 accounts between October 2022 and March 2023, based on its internal monitoring process as well as under the direction of law enforcement agencies (LEA). 

Over 80 foreign and Mainland China companies have expressed their interest in establishing a Web3 company in Hong Kong, ahead of new crypto regulations that will take effect from June

Paris-based Kaiko will move its Asian headquarters to Hong Kong as it sees growing crypto-related opportunities in the city.

As bank after bank topples, fingers are pointing everywhere. But crypto is not to be blamed for this unfolding crisis, writes Winston Hsiao of XREX.

Top blockchain and crypto news: USDC stabilizes after SVB collapse. Silvergate closes shop. China tightens financial supervision.

The NY State Attorney General is suing crypto exchange Kucoin for not registering as a securities and commodities broker-dealer and calling itself an exchange.

In the race to tame crypto’s excesses, we need to avoid regulatory clashes while DeFi draws lessons from TradFi, writes Rachel Lin of SynFutures.

CFTC chair Rostin Behnam has called Ethereum a commodity and not a security, in apparent contrast to past statements from SEC Chairman Gary Gensler.

NFTs have entered China’s Two Sessions, with a delegate to propose an NFT regulatory framework.

The Thai Finance Ministry will waive corporate income tax and value-added tax for firms that conduct initial coin offerings (ICOs), according to a spokesperson.

A crypto tech firm and three of its executives have been indicted for allegedly operating unlicensed Bitcoin ATMs in the U.S. that profited from scams.

Web3 is growing more rapidly than the early internet, writes Ken Timsit of Cronos Labs. But to achieve mainstream success, the following issues must be addressed.

U.S. Treasury Secretary Janet Yellen told Reuters after the G20 meeting in India on Saturday that while the U.S. has not indicated any outright bans, it is critical to put in place a strong regulatory framework for the cryptocurrency industry. 

Crypto industry’s interaction with regulators is important and quite common in Asia but missing in the US, says Brooks Entwistle of Ripple Labs.

World governments should not grant cryptocurrency legal tender status, the International Monetary Fund’s (IMF) executive board said in its new nine-point action plan on how countries should approach crypto assets published Thursday. See related article: India working with IMF, FSB on crypto regulations, says economic affairs secretary Fast facts See related article: India’s finance minister […]

A U.S.-based blockchain advocacy group has urged a federal court to dismiss SEC charges against an ex-Coinbase employee accused of insider trading.  

Hong Kong’s economy is shrinking, but a recent budget draft published by the government lists some changes that could help the city recover – and crypto is at the center of it all.

Cryptocurrency companies in Canada have 30 days to meet updated crypto registration guidelines released on Wednesday or risk losing their users.

A Taiwanese lawmaker has reiterated that the cabinet will have to mandate an acting central authority to shape regulatory frameworks and development roadmap for the cryptocurrency industry by May 16, a move that would push Taiwan closer to adequate crypto regulation.

Hong Kong’s proposed crypto licensing regime received Huobi Global’s pledge to return to the city, and more companies may follow, industry experts told Forkast.

The Hong Kong Securities and Futures Commission is calling for public feedback on its new proposals to regulate the crypto industry set to take effect in June.

Greater transparency and confidence in who you are transacting with could go a long way toward alleviating public mistrust, writes Travis Nelson of Quadrata.

Taiwan’s Ministry of Justice said on Wednesday that it may be adding cryptocurrencies to the list of properties for public servants to declare. 

Binance expects to pay to settle U.S. authorities’ investigations into its business and past crypto offerings, according to its chief strategy officer.

Top blockchain and crypto news: Paxos halts BUSD issuance. Kraken faces disclosure charges. Beijing backs new blockchain research center.

The cryptocurrency industry faced criticism during a Senate committee meeting on Tuesday entitled “Crypto Crash: Why Financial System Safeguards are Needed for Digital Assets.”

S.Korean regulators are planning to review crypto staking services on local exchanges following recent regulatory enforcements from the SEC.

The Blockchain Association Chief Policy Officer Jake Chervinsky said the U.S. Congress will ultimately set the laws in the country to govern the cryptocurrency industry and not the Securities and Exchange Commission

The U.S. Securities and Exchange Commission (SEC) plans to propose rule changes that would make it difficult for cryptocurrency firms to hold digital assets.

As financial regulators around the world continue to crackdown on stablecoins, some are asking if they are overreaching their jurisdiction.

Last year was memorable in the emerging world of digital assets for the sheer number of corporate failures. The industry itself has been asking for clearer legal guidelines to help development. Is that what’s happening now?

As India moves forward with its one-year presidency of the Group of 20 (G20), it is discussing cryptocurrency and regulation with the group’s members, India’s Finance Minister Nirmala Sitharaman said. 

Mastermind of the EminiFX fraud has pleaded guilty to soliciting investments worth more than US$248 million from tens of thousands of investors, says US DOJ.

The UK and Europe are following suit in trying to regulate crypto. Just how far along have they come and what more do they have in store?

Bitcoin continued to trade below US$22,000 in Monday afternoon trading in Asia. All other top 10 non-stablecoin cryptocurrencies dropped except Dogecoin.

Luxury fashion house Hermès International won its lawsuit against NFT artist Mason Rothschild on Wednesday for violating its Hermès’ Birkin trademark.

2023 could be the defining year for crypto regulation – but who’s leading the race to regulation and what’s the best way about it?

Top blockchain and crypto news: GOPAX deal sees Binance return to South Korea. Inflation fight spooks crypto markets. Chinese liquor giant gives cheers to NFTs.

Beijing’s market regulator warned that projects marketed in the country as non-fungible tokens or with metaverse-related concepts risk being involved in illegal fundraising or fraudulent activities.

CeDeFi offers the benefits of CeFi and DeFi without their shortcomings, writes Alexander Tkachenko of VNX. Here’s how it works.

South Korea published guidelines on Monday for defining what specific cryptocurrencies would fall under regulations applicable to financial securities.

India, the current holder of the G20 presidency, has been working with the IMF and the Financial Stability Board FSB to develop a regulatory approach for cryptocurrencies.

The future global financial system will be reliant on the cloud, especially when it comes to CBDCs and stablecoins, writes Michael Greenwald and Logan Weber.

Top blockchain and crypto news: BTC mining ETF outperforms. SBF under pressure as accusations mount. ‘China’s Instagram’ embraces NFTs.

The HKMA said in a consultation conclusion that algorithmic stablecoins will not be allowed in the city.

South Korea’s Financial Supervisory Service has recommended a unified system for mandatory disclosure from issuers of cryptocurrencies.

Laws to prevent another FTX blowup, crackdowns on crypto tax cheats, and a ruling on Ripple are likely imminent. A bull’s eye is also on DeFi, writes Gergo Varga of SEON.

Hainan province, a popular tourist destination in South China, published a notice on Sunday vowing to step up oversight on non-fungible tokens, or “digital collectibles,” which authorities said come with risks of fraud, money laundering and illegal fundraising.

The Dutch central bank (DNB) has fined U.S.-based cryptocurrency exchange Coinbase €3.3 million (US$3.6 million) for failing to obtain correct registrations

European Union lawmakers have voted in favor of a draft bill that imposes stricter capital requirements on banks holding crypto assets.

Crypto ads airing in South Africa must warn potential investors of risks, according to new guidelines by the country’s Advertising Regulatory Board (ARB).

EU’s new Digital Operational Resilience Act aims to help firms withstand cyberattacks. Monica Oravcova of Naoris Protocol explains why it doesn’t go far enough.

Caroline Pham, commissioner of the U.S. Commodity Futures Trading Commission (CFTC) commissioner, has urged regulators to develop clearer crypto industry standards.

The Securities and Exchange Commission of Thailand issued new rules for cryptocurrency custody services on Tuesday.

The U.S. House of Representatives has created a new congressional subcommittee focused on digital assets, as one of its first moves under the control of the Republican Party.

El Salvador has passed landmark legislation that establishes a legal framework for all cryptocurrencies to build on the country’s “first-mover advantage.”

Shanghai Two Sessions’ delegate urges stronger supervision in the metaverse industry, as metaverse fever continues.

Hong Kong has passed a new licensing regime on for crypto exchanges that will subject providers to the same legislation and rules as traditional finance.