Regulation

There are mounting concerns that recent United States government sanctions against Tornado Cash will become a “slippery slope” for Web3 privacy that could eventually make the entire space “meaningless.” Speaking to Cointelegraph, Shumo Chu, co-founder of privacy protocol Manta Network expressed worry that the strict sanctions against Tornado Cash could have a knock-on effect on
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The U.S. Treasury’s Office of Foreign Assets Control (OFAC) issued sanctions against Tornado Cash this month, marking its first action against a decentralized finance (mixer in what may prove to be a watershed moment for DeFi regulation. A lack of response and regulatory preparation from the industry is perhaps unsurprising of a mindset honed outside
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Crypto exchange Huobi Global announced the suspension of derivatives trading in New Zealand. The statement from Huobi said the new restrictions against derivative offers are in light of compliance with local regulations.  Users in New Zealand will no longer have access to derivative trading services, which include coin-margined futures and swaps, USDT-margined contracts, options and
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Singapore-based crypto lending platform Hodlnaut is seeking judicial management to manage its ongoing liquidity crisis and avoid the forced liquidation of assets in the current bear market. The crypto lender informed its users in a Tuesday announcement that they have applied to the Singapore High Court to be placed under judicial management. The firm said: “We are aiming
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South Korean banks are being investigated for their role in facilitating $6.5 billion in suspicious overseas remittances which have been tied to companies arbitraging cryptocurrency.  According to an Aug. 15 report from Asia Times, the Financial Supervisory Service (FSS) ordered an investigation into South Korean banks last month after identifying a significant amount of overseas
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United States-based crypto policy advocacy group Coin Center said it intended to “pursue administrative relief” for individuals affected by Tornado Cash sanctions imposed by the Treasury Department’s Office of Foreign Asset Control, or OFAC. In a Monday blog post, Coin Center executive director Jerry Brito and director of research Peter Van Valkenburgh alleged OFAC “overstepped
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Summer is still on, harvesting the fresh names for its list of the crypto companies in deep trouble. This time, the trouble came not from the market or management but from the United States Treasury Department. The regulator has added more than 40 cryptocurrency addresses allegedly connected to crypto mixer Tornado Cash to the Specially
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The United States Federal Reserve Board announced Monday that it had finalized its guidelines for the factors reserve banks are to consider when reviewing requests for Federal Reserve accounts and payment services. The guidelines create a three-tiered review framework with the level of due diligence to be provided, depending on the applicant’s risk level.  Guidelines
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The Canadian Securities Administrators (CSA), the council of provincial and territorial securities regulators, announced Monday that crypto trading platforms will be expected to provide a preregistration undertaking to their principal regulators as they take steps to comply fully with securities regulation. Two platforms, Crypto.com and the Canadian platform Coinsquare Capital Markets, have already filed those undertakings. 
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The Astana Financial Services Authority, or AFSA, an independent financial regulator in Kazakhstan, has taken a step towards licensing major cryptocurrency exchange Binance to operate in the country. In a Monday announcement, AFSA said it had granted in-principle approval toward Binance operating as a digital asset trading facility and providing custody services in the Astana
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