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CFTC Lawsuit Against Ooki DAO, $250,000 Settlement with bZx Creates New Precedents

The Commodity Futures Trading Commission (CFTC) has filed an enforcement action lawsuit against Ooki DAO, a crypto margin trading and lending platform for engaging in digital asset margin trading that only CFTC-registered Futures Commission Merchants (FCM) can perform.  Ooki DAO also failed to adhere to customer identification requirements prescribed under the Bank Secrecy Act, the commission further alleged in its lawsuit filed in the U.S. District Court for the Northern...

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International summit “MetaVentures Bangkok” to be held on Dec. 14–15

A unique event “MetaVentures Bangkok” will be held on December 14-15 in Bangkok. The organizers are venture capital fund “MetaVentures”. The “MetaVentures” brand is reorganized into a venture capital fund focused on digital projects related to Metaverse, NFT, Digital Art and other promising areas of the cryptocurrency industry. “MetaVentures Bangkok” will be a vivid event due to the global experience of the organizers and unification industry leaders in the areas of NFT,...

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Australian Senator Calls for Urgent Stablecoin and Digital Yuan Regulation

Andrew Bragg – an Australian Liberal Senator for New South Wales – drafted a bill that could put the local cryptocurrency sector under strict supervision. If accepted, the legislation will require digital asset exchanges and stablecoin issuers to disclose their operations to authorities, while Chinese banks dealing with digital yuan in Australia will also face enhanced scrutiny. Australia Should Move Fast In a recent speech at the Blockchain Associations Forum, Senator Bragg...

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Biden Administration Pitches for Regulation and Strict Oversight of Crypto 

In a series of reports, the Joe Biden administration on Friday has offered its response to the President’s executive order on cryptocurrencies – Ensuring Responsible Development of Digital Assets – issued earlier this year, media reports said. Here is all that you need to know about the Biden administration’s Friday reports: The Joe Biden administration has asked the enforcement agencies to strictly pursue the digital asset sector and identify gaps in regulations. It also...

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The India Central Bank Governor Warns Against Cryptocurrencies

India’s government has not completely embraced cryptocurrencies, and the Governor of the Central Bank of India, Shaktikanta Das has warned Indians about cryptocurrencies. There have been different reactions from different nations to cryptocurrencies, ranging from rejection to acceptance and regulation. The cryptocurrency market has been on a bearish cycle, the bulls on numerous occasions tried to take over the market, but all to no avail. Different government agencies...

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Australian Federal Police Established a Crypto Unit to Target Criminals (Report)

The Australian Federal Police – an independent agency responsible for investigating crime and protecting the country’s national security – reportedly formed a new cryptocurrency unit. The goal is to detect criminals who use digital assets in their activities, such as money launderers, and bring them to justice. Applying strict regulations on the digital asset sector has been a mission for the Aussie government for a while now. Last year, former Federal Treasurer – Josh...

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UK’s New Prime Minister Advocated for Pro-Crypto Regulations

The United Kingdom finally has a new Prime Minister of the United Kingdom in the face of Liz Truss, who spoke positively about the cryptocurrency industry several years ago. To become the UK’s next PM, Truss was chosen over Rishi Sunak (Chancellor of the Exchequer from 2020 to 2022), who also favors digital assets. Earlier this year, he opined that Britain will thrive economically if it becomes a global crypto hub. It is safe to say that the political environment in the...

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There’s Too Much Money and Power Behind Crypto to Ban It: Congressman Sherman

Congressman Brad Sherman, who represents California’s San Fernando Valley in the U.S. Congress, is a keen critic of the cryptocurrency industry. In his view, it undermines the dominance of the American dollar and is a threat to the country’s national security. However, Sherman does not believe the government can prohibit the asset class “anytime soon” since there is too much money and power behind it. Crypto Should Have Been Banned Years ago Unlike some other American...

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Thai SEC Toughens Crypto Ad Regulations Amid Broader Market Downturn

The Securities and Exchange Commission of Thailand (SEC Thailand) has asked cryptocurrency companies operating in the country to include clear and visible warnings about the risks associated with virtual tokens and crypto investments. SEC Guideline on Crypto Ads In an email statement from last week, the capital market regulator asked companies to abstain from giving false and misleading information in their ads. They were also asked to provide information on advertising terms...

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Robinhood Crypto Division Hit with $30 Million Fine

The crypto division of the popular trading app Robinhood has been slapped with a $30 million fine in New York after the company allegedly violated cybersecurity regulations and anti-money laundering laws. The penalty was handed down by the New York State Department of Financial Services, which accused the company of failing to utilize proper resources to halt illicit trading activity on its platform. Robinhood Has Landed in Hot Water A press release involving the matter...

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