In a recent statement, Gary Gensler, the outgoing Chairman of the U.S. Securities and Exchange Commission (SEC), spoke about the nature of his role overseeing the $120 trillion U.S. capital market, opening up about its integral role in the economy. The SEC Chairman addressed the criticism he’s received during his tenure, notably from high-profile figures …
Hong Kong, considered as one of the thriving financial hubs of Asia, is know for its welcoming attitude towards innovative technologies, especially those capable of strengthening its dominance in the financial sector. The Hong Kong Monetary Authority, which is responsible for the upgrading of the nation-state’s financial framework, has launched a new initiative to help …
Portugal’s largest bank Banco de Investimentos Globais (BiG) has recently taken the step of blocking fiat transfers to cryptocurrency platforms, citing compliance with new European Union regulations. This marks a significant shift for Portugal, once regarded as a haven for crypto enthusiasts. The decision aligns with growing regulatory pressure from European authorities like the European …
Defying an IMF agreement, which stipulates El Salvador to reduce its economy’s exposure to the Bitcoin market, the Central American country has recently purchased at least eleven BTC for nearly $1 million. What’s the message that this BTC-friendly is trying to give to the crypto community? El Salvador’s Latest Bitcoin Purchase Reports indicate that at …
As President-elect Donald Trump prepares for his inauguration, the U.S. cryptocurrency industry is urging him to follow through on his campaign promises to push cryptocurrencies into the mainstream. The industry is hoping for a series of executive orders on his first day in office, January 20, to lay the foundation for a crypto-friendly future. Bitcoin …
In a landmark ruling, a Texas federal court has ordered Bitcoin investor Richard Ahlgren III to surrender encryption keys unlocking $124 million in crypto. Ahlgren, convicted of tax evasion for failing to report $3.7 million in Bitcoin sales, must also disclose devices used to store crypto and is barred from transferring assets without court approval. …
El Salvador is one of the prominent crypto-friendly countries. It is the first in the world to make Bitcoin a legal tender. In 2023, it introduced a revolutionary law, called the Digital Assets Securities Law, boosting its efforts to become the global crypto hub. Recent developments indicate that many crypto companies are keen to benefit …
Ripple CEO Brad Garlinghouse has confirmed a significant meeting with former U.S. President Donald Trump, held at Trump’s Mar-a-Lago resort. Accompanied by Ripple’s Chief Legal Officer Stuart Alderoty, the dinner highlights Ripple’s expanding influence amidst the changing regulatory environment in the US, sparking optimism for the crypto market in 2025. With plans to slay 2025 …
In a latest development, Coinbase Global Inc has once again achieved a big win in its ongoing legal battle against the US SEC. Coinbase CLO Paul Grewal, in a latest X post shared that the court, led by Judge Catherine Polk Failla, has approved Coinbase’s request for an interlocutory appeal. This case involves charges from …
FTX EU, once a part of the now-defunct FTX empire, has found a new home with Backpack Exchange. This $32.7 million deal isn’t just about ownership—it’s about shaking up the European crypto market. This is also perfect timing as European markets are getting softer on their crypto regulations, and there is a possible increase in …
In a latest development, the Federal Reserve Board announced on Monday that Michael S. Barr will step down as Vice Chair for Supervision of the Federal Reserve Board. However, he will remain a member of the Board of Governors. The Fox Business Journalist, Eleanor Terett took to X and shared that Michael S. Barr was …
Indian cryptocurrency exchange CoinDCX is facing criticism on social media due to restrictions on crypto withdrawals. Many users have reported issues such as failed INR withdrawals and delays in resolving their support tickets, with some claiming their withdrawal requests have been pending for weeks. This has led to growing frustration among users. The confusion surrounding …
Back in August, Ripple was fined $125 million, and it seemed like the lawsuit was over. However, the SEC has continued to appeal the decision. In October, the SEC officially appealed the previous ruling on XRP. The SEC was not satisfied with the judge’s decision and took it to the appeals court. Now, Paul Atkins …
In a Thinking Crypto podcast, Amanda Tuminelli, Chief Legal Officer at the Defi Education Fund, has discussed the IRS and treasury’s recent rulemaking on digital asset transactions. The IRS finalized a tax reporting rule for defi industry participants on December 27th, which they argue is too broad to be considered a broker under the statutory …
The IRS has introduced temporary tax relief for cryptocurrency holders using centralized exchanges, aiming to ease the transition to stricter tax regulations coming in 2025. This move will give more flexibility, potentially saving taxpayers from paying higher tax bills. The change of heart could be the changing political scenario to make crypto less complicated for …
Singapore is quickly emerging as Asia’s top destination for cryptocurrency, with a clear strategy to attract global companies and innovate in blockchain technology. The Monetary Authority of Singapore (MAS) has already licensed over 200 payment institutions, including major players like Okx, Upbit, and Bitgo, under the Payment Services Act (PS Act). But what makes Singapore’s …
Garanti BBVA, part of Spain’s Banco Bilbao Vizcaya Argentaria (BBVA), will soon offer crypto trading services to the public through its platform, Garanti BBVA Kripto. This move follows the full implementation of the Markets in Crypto-Assets (MiCA) regulation in the EU. The platform will use Bit2Me, a Spanish crypto exchange, for trading execution. As MiCA …
Singapore’s crypto-friendly regulations and doubling of licenses in 2024 position it as a growing hub for blockchain innovation.
A major legal battle between Gemini Trust and the U.S. Commodity Futures Trading Commission (CFTC) has hit a pause. In a recent court decision, Judge Alvin Hellerstein postponed the civil case, pushing back the hearing date from January 13 to January 21, 2025. According to a court document from December 30, 2024, the final pre-trial …
The cryptocurrency market had an extraordinary year in 2024. Bitcoin (BTC) led the charge, propelling the industry to nearly $4 trillion in valuation before a market correction. Earlier in the year, Bitcoin hit the long-awaited $100,000 milestone, eventually settling at about $92,700 in the final hours of the year during the mid-London session. Bitcoin’s price …
Crypto payment platform MoonPay has obtained a MiCA license from the Dutch Authority for the Financial Markets, enabling it to offer fiat-to-crypto and crypto-to-fiat services across Europe. The MiCA regulation, effective today, establishes a unified framework for digital assets in the European Economic Area, focusing on consumer protection and market stability. MoonPay, operating in over …
Malaysia’s Securities Commission (SC) has directed Bybit Technology Ltd, formerly Bybit Fintech Ltd, to cease operations in the country for violating securities laws. Bybit and its CEO, Ben Zhou, were reprimanded for running an unregistered exchange. The SC instructed Bybit to disable its website, halt promotional activities, and terminate its Telegram support group for Malaysian …
The most anticipated question of who could be the next SEC Chair finally came to an end when President-elect Donald Trump officially nominated Paul Atkins as the next SEC Chair. But there are still some questions on investors’ minds as to how Atkin will address the ongoing crypto cases. Paul Atkins is a former SEC …
Tether’s USDT the largest stablecoin by market cap, is set to be delisted from EU exchanges starting today, creating a situation of fear, uncertainty, and doubt (FUD) in the crypto market. However, crypto analyst Axel Bitblaze believes this might not lead to a market crash but instead could be another buying opportunity, similar to past …
Malaysia’s Securities Commission (SC) has ordered Bybit and its CEO, Ben Zhou, to suspend operations for running without proper registration. Bybit must shut down its platforms, halt advertising, and dissolve its Malaysian Telegram support group by December 25. The SC cited investor protection concerns, reminding users that unregistered platforms pose higher risks. Bybit has complied …
Republicans currently have a narrow majority in the United States House of Representatives, where the party holds 219 seats.
A South Korean court has sentenced a celebrity golfer and the former CEO of Bithumb, a major crypto exchange, to prison for their roles in a bribery and market manipulation scheme. Lee Sang-jun, the former CEO of Bithumb, was sentenced to two years in prison, while Ahn Sung-hyun, a well-known golfer married to actress Song …
Recently, the U.S. Internal Revenue Service (IRS) has announced new regulations that classify certain decentralized finance (DeFi) protocols as brokers. This move requires these protocols to disclose Know Your Customer (KYC) information for digital asset transactions. The IRS estimates that up to 875 DeFi brokers could be affected by these new rules, which has quickly …
The U.S. Internal Revenue Service (IRS) has introduced a new tax rule that will affect decentralized finance (DeFi) brokers. Starting in 2027, DeFi platforms will have to collect user trading information, issue tax forms, and provide customer details like names and addresses. This rule is meant to make digital asset taxes similar to traditional ones. …
U.S. Congressman Ro Khanna has introduced a bill to ban stock trading by Congress members and their spouses, aiming to “clean up corruption in Washington.” Khanna’s proposal includes prohibiting PAC and lobbyist donations, instituting term limits, and adopting ethics codes for justices. The move follows President Joe Biden’s recent support for a similar ban, citing …