Category Archive: Cryptocurrency, No picture
Crypto Advertisements Soon to Have Major Restrictions in UK
The UK Government has expanded the scope of the financial promotion regime to incorporate specific crypto assets. This new regulation, which comes into effect on October 8, 2023, mandates all firms, irrespective of their geographical location, to comply with the regime if they are marketing crypto assets to UK consumers: The financial promotion regime is […]
Singapore’s DBS Bank Launches Digital Yuan Payment Solution in China
DBS Bank, a leading Singaporean bank in China, has launched a digital yuan merchant collection solution, marking DBS’s first client transaction with China’s digital yuan. This solution allows DBS’s corporate clientele in China to process payments in digital yuan, the central bank digital currency of the country, automatically depositing digital yuan into their respective accounts. […]
Reserve Bank of India Explores Cross-Border Payments with Digital Rupee
The Reserve Bank of India (RBI) is actively exploring the potential of its digital currency, the digital rupee, for cross-border transactions. The RBI is in discussions with central banks from approximately 18 nations, according to a recent report by the Economic Times. RBI Governor, Shaktikanta Das, has emphasized the importance of foreign trade infrastructure for […]
Bankrupt Voyager Digital’s Creditors Racks Up $5.1M in Legal Fees
The creditors of the bankrupt crypto firm, Voyager Digital, face a $5.1 million bill. The New York law firm McDermott Will & Emery is seeking compensation for legal services provided from March 1 to May 13, 2023, according to a filing on July 3. The substantial invoice was charged to the “Official Committee of Unsecured […]
FTX Files Lawsuit Against Ex-Compliance Chief Dan Friedberg
FTX, a bankrupt crypto exchange, has filed a lawsuit against its former chief compliance/regulatory officer, Dan Friedberg, after his alleged conflicts of interest involving Sullivan & Cromwell (S&C) and Ryne Miller, FTX’s ex-U.S. General Counsel. Friedberg claimed S&C exploited Chapter 11 insolvency proceedings to secure high service fees from FTX, leading to over $40 million […]
P2P Transactions Could be Banned in Belarus
In a bid to clamp down on criminal activities, Belarus is creating legislation aimed at prohibiting peer-to-peer (P2P) cryptocurrency transactions, stating that “the Ministry of Internal Affairs is working on legislative innovations, prohibiting cryptocurrency exchange transactions between individuals” in a social media post from Belarus’ Ministry of Internal Affairs. Aleksandr Ringevich, the deputy head of […]
Bittrex Accuses SEC of Failing, Again, to Define Securities
Bittrex, a bankrupt cryptocurrency exchange, is contesting the U.S. Securities and Exchange Commission’s (SEC) authority to regulate its operations through securities violations. This dispute, if won, could limit the SEC’s power to oversee cryptocurrency exchanges and other digital asset businesses. The first line of the motion read: “After a six-year investigation during which the Securities […]
Singapore Further Solidifies Consumer Protection by Year-End
Singapore’s Monetary Authority of Singapore (MAS) has mandated crypto service providers to place customer assets into a statutory trust by the end of the year. This announcement, made on Monday, is part of a broader initiative to enhance customer protection to significantly reduce the risk of loss or misuse of customer assets in the city-state. The […]
Crypto.com Executive Goes to Washington
Crypto.com, a leading cryptocurrency platform with over 80 million global users, announced on June 30 that its global head of derivatives legal, Steve Humenik, has been appointed to the U.S. Commodity Futures Trading Commission’s (CFTC) Global Markets Advisory Committee (GMAC) Digital Asset Markets Subcommittee: https://t.co/vCNztATSCO is proud to announce the appointment of Stephen Humenik as […]
BTC Spot ETFs Rejected by SEC; Applications Lack Clarity
The U.S. Securities and Exchange Commission (SEC) has reportedly found the recent applications for spot Bitcoin exchange-traded funds (ETFs) to be lacking in clarity and comprehensiveness, according to the Wall Street Journal. A number of companies recently filed applications for spot Bitcoin ETFs, such as Invesco, Wisdom Tree and BlackRock, among others. The SEC has […]
