Regulation

The Brazilian central bank digital currency (CBDC), previously commonly referred to as the “digital real,” has been given its official brand name: the Drex.  On Aug. 7, the Central Bank of Brazil issued a press release revealing and explaining the new brand for its CBDC. Developed by the central bank, the brand “Drex” is an

Crypto exchange Blockchain.com has been granted a payments license from Singapore’s central bank — the Monetary Authority of Singapore (MAS). Blockchain.com announced on Aug. 7 it received its major payment institution (MPI) from MAS on Aug. 1 allowing it to provide what the regulator calls digital payment token services to institutional and accredited investors. The exchange’s

FTX has outlined its intended reorganization plan, which will categorize claimants of the bankrupt exchange into specific classes and pave the way for it to become operational as an offshore entity. However, a body representing FTX customers said it is “extremely disappointed” by the plan.  FTX’s Official Committee of Unsecured Creditors (UCC) said despite its

The Securities and Futures Commission (SFC) of Hong Kong issued a notice about unlicensed virtual asset trading platforms “engaging in improper practices”, warning of potential criminal charges. In an Aug. 7 notice, the SFC said certain trading firms had falsely claimed to have submitted applications for licenses in Hong Kong. The securities regulator said should

The lower house of India’s parliament voted in approval of a bill that will ease data compliance regulations for Big Tech companies, according to a report from Bloomberg.  On Aug. 7, the legislation that was approved by the house will ease storage, processing and transfer standards for major global tech companies like Google, Meta and

CoinGecko launched a new index tracking the biggest crypto tokens viewed as likely securities by the United States Securities and Exchange Commission (SEC).  The ‘Top Alleged Securities Coins’ page sorts the selection of crypto assets by market capitalization, placing Binance Coin (BNB) at the top of the list — followed by Cardano (ADA), Solana (SOL)

The Chamber of Digital Commerce (CDC), an American advocacy organization, on August 1, unveiled a comprehensive “impact and analysis” report on the SEC’s lawsuit against Ripple. The report scrutinizes the case’s verdict, highlighting its profound implications for the crypto industry’s future. According to the CDC’s evaluation, Judge Analisa Torres’s ruling sets a vital precedent in

Three members of the United States Senate have reportedly sent a letter to the White House and Treasury Department in an effort to crack down on North Korea using cryptocurrency to fund its nuclear program and evade sanctions. According to an Aug. 4 report in The Wall Street Journal, Sens. Elizabeth Warren, Tim Kaine and

United States-based cryptocurrency exchange Coinbase has filed a motion to dismiss a lawsuit brought by the Securities and Exchange Commission (SEC) in June. In an Aug. 4 filing with U.S. District Court for the Southern District of New York, lawyers for Coinbase filed a motion for judgment, claiming the SEC had “violated due process, abused

The Sultanate of Oman is inching closer to launching its own virtual asset regulations, with its financial markets regulator seeking public comments on its proposed regulatory framework governing digital assets, such as cryptocurrencies. The Capital Market Authority of Oman is currently in the process of drafting a comprehensive regime for the virtual asset sector, which

Cryptocurrency-friendly trading neobank Revolut is wrapping up its crypto services in the United States amid the ongoing regulatory uncertainty. Soon after announcing a partial delisting of certain digital assets from its platform, Revolut took a decision to suspend all crypto services for U.S. users, the firm said in a statement to Cointelegraph on Aug. 4.

Massachusetts securities regulators have started a new investigation into the use of artificial intelligence (AI) in the securities industry, after becoming increasingly concerned about the implications. On Aug. 3, Massachusetts Secretary of the Commonwealth William Galvin officially announced an investigation into the ways in which firms may be using AI in their interactions with Massachusetts

The central bank digital currency (CBDC) project, being developed by the Bank of Russia has now got its official logo. The Bank of Russia has also published commission fee rates, which would exceed zero points only in 2025.  Source: The Central Bank of Russia On August 3, the Bank of Russia revealed the corporate identity

The United States Securities and Exchange Commission has obtained a temporary asset freeze against Utah-based crypto company Digital Licensing Inc, accusing the firm of perpetrating a $50 million fraudulent crypto scheme. On Aug. 3 the SEC announced it had obtained a temporary asset freeze, restraining order, and other emergency relief against Digital Licensing Inc., which

One half of the couple alleged to have laundered billions of dollars worth of cryptocurrency has reportedly admitted he was behind the 2016 Bitfinex hack. According to an Aug. 3 CNBC report, Ilya Lichtenstein told a U.S. court he was the individual behind an exploit of cryptocurrency exchange Bitfinex in 2016 which resulted in the

The New York Times has submitted a filing in the criminal case against former FTX CEO Sam Bankman-Fried (SBF), arguing the court should defend First Amendment rights by allowing certain parties to provide information to members of the media. In an Aug. 2 letter to Judge Lewis Kaplan of United States District Court for the

Let’s get business out of the way before getting to the fun part: Meta, the parent company of WhatsApp, Facebook and Instagram, is heavily involved in virtual worlds through its metaverse unit, Reality Labs.  However, its investments have yet to pay off, with the metaverse company reporting collective losses of over $40 billion.  Despite the

Bankrupt crypto exchange FTX filed a motion in court to remove its Dubai unit from the ongoing restructuring proceedings in the United States. In a court filing on Aug. 2, the crypto exchange argued that its FTX Dubai unit didn’t conduct any business prior to the bankruptcy filing, thus the subsidy has no likelihood of

Israel is set to introduce more regulated cryptocurrency opportunities, with the country’s only public stock exchange preparing to offer new crypto services. The Tel Aviv Stock Exchange (TASE) has signed an agreement with the digital asset platform Fireblocks to jointly offer a range of new digital asset products and services. Announcing the news on Aug.

Hong Kong is expanding cryptocurrency trading exposure to individual investors, with at least one exchange getting the regulatory green light to offer such services. Local digital asset firm HashKey has successfully obtained all necessary licensing to expand its business from serving professional investors to taking on retail users. HashKey’s new regulatory milestone has been enabled