Regulation

Crypto exchange Binance launched a pilot program that allows banks to store trading collateral off-exchange, according to a Nov. 30 announcement. Binance claimed that the program would help reduce counterparty risk. Binance trading interface. Source: Binance According to the announcement, the program allows institutions to hold collateral at a third-party bank instead of depositing it

The United States’ approach to cryptocurrencies could do more harm than good and they risk losing major players by the time they “get their act together,” Cardano founder Charles Hoskinson has said. “When you look at some of the U.S. regulators, in particular, they’ve done a really good job of alienating most of the industry.

Binance’s $4.3 billion settlement with the United States Department of Justice (DOJ) is being hailed as a positive move for the company and the wider cryptocurrency industry, according to Galaxy Digital’s Mike Novogratz. In an interview with Bloomberg on Nov. 29, the CEO of the cryptocurrency investment firm expressed his belief that the high-profile settlement should assuage

Digital asset investment platform Fasset was granted an operational license on Nov. 29, according to a listing on the Dubai Virtual Asset Regulatory Authority (VARA) website. The Virtual Asset Service Provider (VASP) license granted to Fasset allows it to perform broker-dealer services legally in Dubai. The conditions of the license say that the platform is

An upcoming ‘scams code framework’ proposed by Australia’s Department of the Treasury considers applying sector-specific codes and standards to banking and cryptocurrency scams, among others. Adding to the efforts of the Australian Competition and Consumer Commission (ACCC), a regulator within the Treasury, to combat scams via the yearly Scams Awareness Week initiative, the Treasury issued

Brazilians may soon be required to pay up to 15% tax on income derived from cryptocurrencies held on exchanges outside the country, after new income tax rules were approved by the Brazil Senate on Nov. 29. The bill has already passed in the Chamber of Deputies and is expected to be approved by President Luiz

Wally Adeyemo, Deputy Secretary of the United States Treasury, said his department is looking into new sanctions tools to pursue bad actors in the crypto space, citing a recent settlement with Binance. In prepared remarks for the Blockchain Association’s Policy Summit on Nov. 29, Adeyemo said the U.S. Treasury had called on Congress to allow

Crypto firm Paxos has secured in-principle approval from Abu Dhabi’s regulator on two fronts: to issue stablecoins and conduct digital asset services. In a Nov. 29 announcement, Paxos said the Financial Services Regulatory Authority in the Abu Dhabi Global Market had granted in-principle approval for the company to issue U.S. dollar-backed stablecoins, as well as

Charlie Shrem went from running a small online business to becoming a Bitcoin millionaire and making the cover of Forbes magazine. And then, he went to prison. In the latest episode of Cointelegraph’s Crypto Stories, Shrem tells the story of how he founded BitInstant, grew it into a multimillion-dollar Bitcoin empire, an then was arrested

The United States Treasury Department’s Office of Foreign Assets Control (OFAC) imposed sanctions on cryptocurrency mixer Sinbad, alleging the platform was responsible for laundering funds for the North Korea-based hacking group Lazarus. In a Nov. 29 announcement, OFAC said Sinbad had “processed millions of dollars’ worth of virtual currency from Lazarus Group heists,” including the

A stakeholder in the blockchain and fintech ecosystem has called on the federal government of Nigeria to implement regulations that will foster the widespread integration of the approved blockchain policy in the country. Nigeria’s National Blockchain Policy aims to deliver economic growth, job creation and more financial inclusion.  Obinna Iwuno, the president of the Stakeholders

His Majesty’s Revenue and Customs (HMRC) has instructed crypto users in the United Kingdom to declare and pay their taxes on digital assets within a strict timeframe or face the consequences. HMRC guidance on how to declare and pay taxes on crypto holdings, published on Nov. 29, starts with a clear warning:  “If you do not

Embattled Thai crypto exchange Zipmex is offering its creditors 3.35 cents per dollar for initial claims, with further payouts in a recovery scenario. The proposal came as a part of the restructuring offer from the company, which owes its customers $97 million.  According to a Nov. 29 Bloomberg report, Zipmex could raise the sum from 3.35

Cryptocurrency exchange Binance has been operating in the Philippines without the necessary approval or license, according to the local securities regulator. The Philippines Securities and Exchange Commission (SEC) issued a warning against Binance on Nov. 28, informing the public that the exchange is not authorized to sell or offer securities in the country. The announcement

A federal judge has accepted materials from Jump Crypto Holdings in discovery for the United States Securities and Exchange Commission (SEC) case against Terraform Labs. In a Nov. 28 filing in U.S. District Court for the Southern District of New York, Judge Jed Rakoff approved the confidential treatment of certain materials produced by Jump Crypto

Coinbase is warning that it has received a subpoena from the United States Commodity Futures Trading Commission (CFTC), according to X (formerly Twitter) users who have posted copies of the message. The CFTC is seeking information about the Bybit cryptocurrency exchange. Recipients have speculated that any Coinbase customer who also used Bybit received the message.

Multi-party computation (MPC) wallet provider Fireblocks has released a new trading system for institutions that use centralized exchanges, according to a Nov. 28 announcement. Called “Off Exchange,” the new system allows institutional traders to swap tokens without first depositing them on the exchange. Fireblocks claimed this system would help to eliminate counterparty risk on centralized

A federal judge has approved an order requiring crypto lending firm Voyager Digital and its affiliates to pay $1.65 billion in monetary relief to the United States Federal Trade Commission (FTC). In a Nov. 28 filing in U.S. District Court for the Southern District of New York, Judge Gregory Woods ordered Voyager to pay $1.65

Many predicted that Binance would never embrace regulation — it would only pretend to comply in jurisdictions like the United States.  No more. Binance pleading guilty to money laundering and other federal charges on Nov. 21 means it’s giving up its free-booting ways. It will also pay a $4.3 billion fine, the largest in the

The Financial Stability Board (FSB) — the global body that monitors the financial services industry — released a report on Nov. 28 claiming the crypto industry might need additional regulations to prevent another catastrophe on the scale of the FTX scandal. According to the report, the FSB said the market turmoil that ensued from the