Regulation

Karl Racine, Attorney General for the District of Columbia in the United States, has announced that his office has sued business intelligence firm MicroStrategy and its co-founder Michael Saylor for charges related to tax evasion. In a Wednesday Twitter thread, Racine announced a lawsuit against MicroStrategy and its previous CEO Michael Saylor, claiming that he

Christopher Hamilton, a British national allegedly connected to Cryptoqueen’ Ruja Ignatova’s cryptocurrency scheme OneCoin, reportedly faces extradition to the United States on charges related to a scam going back to 2014. According to a Tuesday report from legal news outlet Law360, a judge in the United Kingdom will allow the process to move forward for

Studies show that most people who attempt to wash trade nonfungible tokens (NFTs) are unprofitable. But that doesn’t stop them from trying, which makes it a glaring regulatory and enforcement issue for the industry.  In wash trading, manipulators buy and sell an asset between themselves to create the appearance that the asset is in higher

Georgia, one of the world’s most cryptocurrency-friendly countries, is moving to introduce new crypto regulations to pursue its ambitions to become a global crypto hub. Georgian lawmakers have prepared a new regulatory framework targeting digital business and cryptocurrency trading in the country, Georgian Minister of Economy and Vice Prime Minister Levan Davitashvili announced. Davitashvili said

Brian Shroder, the president and CEO of Binance US, received a federal letter requesting the urgent disclosure of official documents that prove the exchange’s adherence to various investor-centric safety protocols. The request comes from a Subcommittee chairman under the United States House Committee on Oversight and Government Reform. In the letter addressed to Shroder, Congressman

Paraguay’s president, Mario Abdo Benítez, vetoed a bill that sought to recognize cryptocurrency mining as an industrial activity on Monday. He reasoned that mining’s high electricity consumption could hinder the expansion of a sustainable national industry.  The decree stated that crypto mining uses intensive capital with low manpower usage, and therefore would not generate added

United States House of Representatives member Tom Emmer has reportedly suggested that regulating and encouraging innovation in the crypto space should not be a political win for either Democrats or Republicans. According to an interview released Tuesday by Axios reporter Brady Dale, Emmer said many of his colleagues in Congress were treating cryptocurrencies as a

Thailand’s Securities and Exchange Commission, or SEC, announced enforcement actions against the chief technology officer of crypto exchange Bitkub, who allegedly used insider information around the purchase of Bitkub Coin (KUB). In a Tuesday announcement, the Thai SEC said it had fined Bitkub chief technology officer Samret Wajanasathian 8,530,383 baht — roughly $234,000 at the

Regulators are tasked with balancing between protecting consumers and creating environments where entrepreneurs and the private sector can thrive. When markets face distortions, perhaps due to an externality or information asymmetry, regulation can play an important role. But regulation can also stifle entrepreneurship and business formation, leaving society and its people worse off. The United

With more institutions joining the Web3 space, regulation has been identified as one of the trickier challenges that can either smother creativity or become a catalyst to broader adoption.  In an interview with Cointelegraph, Jaime Baeza, the CEO of crypto hedge fund ANB Investments, shared the challenges of managing funds in the crypto space, opportunities

Russia may soon be taking a cue from Iran by using cryptocurrencies for imports, according to commentthe Russian prime minister. The adoption of digital assets is necessary as a “safe alternative” for cross-border payments, Russian Prime Minister Mikhail Mishustin declared at a strategic session on the development of the domestic financial system on Tuesday. The

The saga of the defunct Turkish crypto exchange, Thodex, continues as its fugitive founder is now in custody in Albania. Local law enforcement detained Faruk Fatih Özer in an operation carried out at 05:30 AM (UTC) on Tuesday, Aug. 30, in the country’s capital city Tirana. According to a report by Cointelegraph Turkey, Özer is currently

Singapore-based crypto lending firm Hodlnaut was placed under interim judicial management, a form of creditor protection program, by the Singapore court on Aug. 29. The court orders came three weeks after Hodlnaut froze all trading activities and withdrawals on its platform citing a liquidity crisis. In an official blog post on Aug. 30, the crypto

Iran’s Industry, Mines and Trade Ministry has approved the use of cryptocurrency for imports into the country amid ongoing international trade sanctions. According to local news reports, Trade Minister Reza Fatemi Amin confirmed that detailed regulations have been approved outlining the use of cryptocurrencies for trade and supplying fuel and electricity to Bitcoin (BTC) and

In another shift toward widespread crypto adoption in Argentina, citizens from the Mendoza Province can now pay government fees and taxes using cryptocurrencies.  In an Aug. 27 statement, the Mendoza Tax Administration (ATM) described the new crypto payment service as fulfilling “the strategic objective of modernization and innovation,” giving “taxpayers different means to comply with

Ripple Labs General Counsel Stu Alderoty has hit back at a recent opinion piece by Security and Exchange Commission chairman Gary Gensler, arguing that the regulator’s crypto market shakedowns aren’t protecting consumers.  In an Aug. 28 opinion piece on the Wall Street Journal (WSJ) titled “The SEC Wants to Be America’s Crypto Cop,” Alderoty claimed

Australia’s financial regulator, the Securities and Investments Commission (ASIC), has pledged to put crypto assets and decentralized finance (DeFi) firmly in its sights over the next four years. The regulator intends to focus on “digitally enabled misconducts” and to protect investors “from harms posed by crypto-assets.” Given the ASIC’s history of anti-crypto sentiments, such an

The South Korean central bank has indicated that initial coin offerings (ICOs) will be allowed under the Digital Assets Framework Act, according to a local news report. That comprehensive legislation is expected to be introduced in 2023 and implemented the following year.  The Bank of Korea (BOK) discussed ICOs in comments to a Korean translation

The creators of Three Arrows Capital are missing. According to reports, when court-appointed liquidators recently visited the firm’s Singapore headquarters, all they discovered was a locked door and a stack of outdated mail. Singapore-based 3AC is among the flagship cryptocurrency firms that have crumbled in recent weeks under bear pressure and faced liquidity issues driven by

Crypto advertising has been plastered across every available sporting surface since the bull run of 2021, from stadium naming deals and team’s playing kits to Formula One racing car liveries. But in the current bearish market conditions, it seems hard to calculate a return on the ubiquitous spending of 2021’s crazy big advertising.  In Australia,