Regulation

Terraform Labs, the company behind the development of the Terra (LUNA) blockchain said South Korea’s case against its co-founder Do Kwon has become political, alleging prosecutors expanded the definition of a security in response to public pressure. “We believe that this case has become highly politicized, and that the actions of the Korean prosecutors demonstrate
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The White House released its first comprehensive framework this month for the Responsible Development of Digital Assets following President Joe Biden’s March 9 executive order. The order called for regulators to assess the industry and develop recommendations to safeguard investors while simultaneously promoting innovation. While more work is needed, the framework is a step in
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United States Senators Marsha Blackburn and Cynthia Lummis have introduced proposed changes to a 2015 bill that would allow “voluntary information sharing of cyber threat indicators among cryptocurrency companies.” According to a draft bill on amending the Cybersecurity Information Sharing Act of 2015, Blackburn and Lummis suggested U.S. lawmakers allow companies involved with distributed ledger
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The United States Commodity Futures Trading Commission (CFTC) Market Risk Advisory Committee (MRAC) held its first meeting with its new membership Sept. 28. In her opening statement, the committee’s sponsor, Commissioner Kristin N. Johnson, ran through a laundry list of issues for consideration, but spent the bulk of her time talking about digital assets. This is
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There’s more to crypto than just assets, Bank of England Deputy Governor Sir Jon Cunliffe reminded the Association for Financial Markets in Europe Conference in London on Sept. 28. The distributed ledger technology (DLT) behind crypto assets has far-reaching implications for traditional markets and interoperability.  DLT will touch on trading, clearing, settlement and custody as it is
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Singapore-based digital asset platform Crypto.com scored a major regulatory approval in France. The digital asset platform was approved to register as a Digital Asset Service Provider (DASP) by the stock market regulator Autorité des marchés financiers (AMF). The approval was granted after the platform received  clearance from the Autorité de Contrôle Prudentiel et de Résolution
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Thailand’s largest crypto exchange Bitkub has come under regulatory scrutiny from the country’s Securities and Exchange Commission (SEC) over falsifying and creating artificial trading volume on its platform. Thai SEC ordered legal action against the crypto exchange and two individuals alleging the crypto platform was involved in wash trading, a process where investors buy and
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United States Federal Reserve chairman Jerome Powell has spoken out about the expansion of decentralized finance (DeFi) and its impact on the traditional finance ecosystem, calling for appropriate regulation. During an event titled the “Opportunities and challenges of the tokenisation of finance” hosted by the Banque de France on Sept. 27, Jerome Powell said there
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New Jersey Representative Josh Gottheimer said that United States lawmakers needed to pass legislation clarifying regulators’ role over crypto or risk companies taking their business abroad. Following a roundtable discussion on Sept. 27 with Commodity Futures Trading Commission chair Rostin Behnam and many industry leaders, Gottheimer said some of the crypto bills proposed by members
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Binance announced the existence of its Global Law Enforcement Training Program in a blogpost on Sept. 27. The creation of the program could be considered retroactive, since the company’s investigations team has been holding workshops for law enforcement for the past year.  Binance expanded its investigations team a year ago, and has held one-day workshops
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The United Kingdom’s Financial Conduct Authority, or FCA, has added cryptocurrency-friendly payments app Revolut to its list of companies authorized to offer crypto products and services in the country. In a Monday update to its list of registered crypto asset firms in the U.K., the FCA showed Revolut was in compliance with amended regulations from
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The electricity mix of Bitcoin (BTC) has drastically changed over the past few years, with nuclear energy and natural gas becoming the fastest growing energy sources powering Bitcoin mining, according to new data. The Cambridge Centre for Alternative Finance (CCAF) on Tuesday released a major update to its Bitcoin mining-dedicated data source, the Cambridge Bitcoin
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The California Department of Financial Protection & Innovation (DFPI) has filed a desist and refrain order against crypto lending platform Nexo as part of its ongoing investigation of companies offering interest-bearing crypto assets accounts. The agency claims it is joining regulators from seven other American states in taking action against the company. The other states
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