A Nigerian court has ordered the freezing of nearly $40 million in crypto funds believed to have been used to support nationwide protests against the government. The ruling, amid heightened tensions over the rising cost of living in Africa’s most populous nation, has sparked concerns over the authorities’ response to civic unrest. Anti-Graft Agency Freezes […]
The cryptocurrency industry is making a concerted push to win over the Democratic Party ahead of the 2024 presidential election, with a new organization hoping to counter former President Donald Trump’s growing influence among crypto supporters. Political Crypto Battle According to a Fortune report, a new grassroots organization called ‘Crypto for Harris’ is leading the […]
The NYDFS is recruiting a policy specialist to address key crypto, DeFi, and AI issues within financial services.
In its third letter to the SEC, the crypto exchange said it would withdraw the proposal, which was first released in 2022, and start over again.
Some lawyers are doubtful on whether the latest court decision in the Ripple case should be referred to as a pure victory over the SEC.
A Nigerian pro-Bitcoin politician and activist revealed he filed a lawsuit against several Nigerian authorities for the restrictions on ownership, use, and trade of BTC, USDT, and other cryptocurrencies in the country. The lawsuit comes after the Nigerian government’s stringent measures to try to control the crypto industry. Related Reading: Crypto Exchange WazirX To Restore […]
The Supreme Court of Montenegro has postponed the extradition of Terraform Labs founder Do Kwon to his home country of South Korea, pending a review of the legality of the previous court decisions. This comes after the Supreme State Prosecutor’s Office (VDT) submitted a request to protect legality on August 2nd, proposing to delay the […]
Former President Donald Trump made waves at the recent 2024 Bitcoin Conference in Nashville when he pledged to “make crypto great again” – including firing the Securities and Exchange Commission (SEC) Chair on his first day back in the White House. Trump’s promise to oust the crypto-skeptic Gary Gensler resonated with many in the crypto industry who […]
Long at odds with the Biden administration, the crypto industry has launched a major political offensive to influence the Democratic Party. According to a Bloomberg report, a network of pro-crypto super Political Action Committees (PACs) has raised over $170 million to back crypto-friendly candidates in congressional primaries, focusing on supporting Democrats. Crypto Industry’s Political Offensive […]
Pro-XRP and crypto attorney John E. Deaton, who won the Republican nomination for Senate in Massachusetts, has emerged as one of the largest crypto holders in the political space ahead of the election, with significant holdings in the largest digital assets on the market. XRP Defender John E. Deaton’s Crypto Holdings Exposed Deaton, known not […]
The anticipated 2024 November elections in the US have stirred discussions within the crypto community regarding the potential stance of Vice President Kamala Harris towards the industry, should she become the Democratic Party’s nominee. With uncertainty shrouding her position, voices from the crypto space have raised concerns about her willingness to support the crypto sector […]
This Friday, the first South Korean crypto regulatory framework has gone into effect after the one-year preparation period. The new law requires firms in the country to comply with stricter requirements to protect investors and their assets. Related Reading: $235 Million Crypto Theft from WazirX Was ‘Perpetrated’ By North Korean Hackers, Report Reveals South Korea’s […]
Need to know what happened in crypto today? Here is the latest news on daily trends and events impacting Bitcoin price, blockchain, DeFi, NFTs, Web3 and crypto regulation.
After 14 years, Labour is in control of the UK government. Chancellor of the Exchequer Rachel Reeves may have discretion to use the country’s Bitcoin holdings for the party’s goals.
In a recent interview, US Securities and Exchange Commission (SEC) Commissioner Hester Peirce reopened the discussion of adding staking features to Ethereum ETFs (exchange-traded funds) after their upcoming launch, possibly on July 23. Initially, ETF issuers such as VanEck and Fidelity had sought approval to wager the underlying Ethereum held in their products. However, it […]
In a thought-provoking session at the Fortune 2024 BrainstormTech conference, Ripple CEO Brad Garlinghouse addressed the division between Republicans and Democrats in the United States when it comes to crypto policy. Expressing his discontent, Garlinghouse emphasized the need for a unified approach towards innovation, highlighting the importance of crypto technology which supports efficiency and reduces […]
By treating Bitcoin and Ether as commodities, Nigerian regulators can establish a more tailored regulatory framework that reflects the unique characteristics of the digital assets.
The UK Law Commission scoping paper suggested legal reforms for DAOs, a review of the Companies Act and international cooperation on AML and tax frameworks.
A recent report by Bloomberg has revealed that suspected digital wallets have been responsible for distributing nearly $100 billion in illicit funds across the crypto market since 2019, with a significant portion flowing through two key sectors of the industry. Crypto Criminals Exploit Stablecoins And CEXs The report highlighted that criminals are increasingly using stablecoins, […]
Stuart Alderoty, the Chief Legal Officer (CLO) of prominent blockchain company Ripple, has criticized the US over its inaction in the establishment of clear crypto regulations. This development underlines the continuous calls for the economic superpower to form a stable regulatory framework for digital assets amidst consistent enforcement actions by the US Securities and Exchange […]
Taiwan’s second-largest telecom has found a way into the crypto market, bring resources and experience with it.
Hong Kong’s financial regulators are taking a measured approach to cryptocurrency regulations, responding with a constant change to market developments. Christopher Hui, the Treasury chief, recently emphasized the government’s strategy of continuously monitoring and adapting crypto-related rules to match the evolving industry. This comes amidst concerns about whether regulatory frameworks could suppress innovation or fail […]
Cryptocurrency firm Circle has achieved a significant milestone by securing registration as an electronic money institution (EMI) in France. This move grants Circle a crucial license to operate as a compliant stablecoin issuer under the European Union’s rigorous crypto laws. Circle Breakthrough According to a CNBC report, the approved license positions Circle as the first global stablecoin issuer to achieve compliance with the European Union’s regulatory framework known as Markets in Crypto-Assets (MiCA). This framework, considered a cornerstone in the EU’s approach to governing cryptocurrencies, sets out comprehensive rules and obligations for crypto companies to ensure investor protection and safeguard against market manipulation. Related Reading: Bitcoin Weekend Trading Takes A Siesta: Volumes Plunge To Record Lows Circle’s acceptance into the MiCA regulatory framework means that both its USDC and Euro Coin (EURC) tokens can now be issued within the European Union while meeting the stablecoin regulatory obligations outlined by MiCA. Additionally, Circle is opening up its Circle Mint service, enabling businesses to mint and redeem Circle stablecoins, to customers in France. Expressing his satisfaction with the achievement, Jeremy Allaire, co-founder and CEO of Circle, emphasized the company’s longstanding commitment to building compliant and well-regulated infrastructure for stablecoins. He stated: Our adherence to MiCA, which represents one of the most comprehensive crypto regulatory regimes in the world, is a huge milestone in bringing digital currency into mainstream scale and acceptance. European Stablecoin Adoption The EU’s MiCA law, which officially came into effect in May 2023, introduced the world’s first comprehensive regulatory framework for cryptocurrency operations. Last week, provisions specifically governing stablecoins were approved, imposing stringent measures on trading volume limitations for certain stablecoins, particularly those denominated in US dollars. As a registered EMI in France, Circle can now extend its services, including the minting and redemption of USDC through Circle Mint, not only to customers in France but also to individuals and businesses across the European Union. This is made possible by the concept of “passporting” outlined in MiCA, which allows crypto businesses to offer services in one EU country and expand into other markets within the bloc. Related Reading: Dogecoin Could Eclipse $1 Mark This Bull Run, Predicts Analyst While Circle’s achievement is commendable, it should be noted that additional obligations under MiCA about crypto asset service providers will become applicable by December 30, 2024. Crypto companies will then have until July 2026 to ensure full compliance with MiCA’s requirements. Since its launch in September 2018 by Circle and crypto exchange Coinbase, USDC has gained significant traction and now holds the position of the second-largest stablecoin globally. According to CoinGecko data, USDC’s circulation amounts to $32.4 billion, trailing only Tether’s USDT, which holds the title of the world’s largest stablecoin with a circulation of $112.7 billion. Featured image from Shutterstock, chart from TradingView.com
In a recent development, Coinbase, the largest cryptocurrency exchange in the United States, has initiated a legal offensive against the Securities and Exchange Commission (SEC) and the Federal Deposit Insurance Corporation (FDIC). The lawsuits, filed in a Washington, D.C., district court, aim to secure access to internal records that would shed light on what Coinbase […]
In a surprising turn, former President Donald Trump has positioned himself as a strong advocate for cryptocurrencies, pledging to champion financial innovation and deregulation in the industry. As the 2024 election approaches, Trump’s pro-crypto stance has gained significant attention, reflected in the betting odds on prediction markets like Polymarket, where he is currently favored to […]
In a landmark case brought by the US Department of Justice (DOJ), two individuals have been convicted of manipulating the price of a crypto asset deemed a “security” and allegedly conspiring to defraud investors by purchasing Hydrogen Technology’s HYDRO cryptocurrency. The federal jury’s verdict resulted in significant prison terms for the defendants and established a crucial […]
The details of enforcing the Protection of Virtual Asset Users Act are not contained in the bill, which comes into force July 19.
In a significant development for the crypto industry, Republican Congressman Matt Gaetz is set to introduce a new bill allowing federal income tax payments to be made using Bitcoin (BTC). Gaetz believes that by allowing taxpayers to utilize Bitcoin for their federal tax obligations, the country can foster innovation, enhance efficiency, and provide greater flexibility […]
In a significant regulatory shift, the US Securities and Exchange Commission (SEC) partially approved the long-awaited Ethereum ETF filings submitted by prominent asset managers three weeks ago, including BlackRock and Grayscale. SEC Chairman Gary Gensler has indicated that full approval for these Ethereum ETFs could come by the end of the summer, providing much-needed clarity […]
The Zimbabwean government has initiated a study to develop regulations for the virtual asset industry. On June 12, the Zimbabwe Mail reported that the government had established a committee to collect data from crypto companies operating within the country. This study aims to provide a detailed understanding of the country’s crypto industry, including its size […]
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