Regulation

In the fast-paced world of cryptocurrency, shrewd investments are the gateway to true wealth. On that note, XRP and Bitcoin Spark (BTCS) are leading the pack in financial opportunities in the crypto market. XRP Lawsuit The XRP lawsuit began in December 2020, when the United States Securities and Exchange Commission (SEC) accused Ripple and two of its executives of violating securities regulations in the initial and subsequent XRP token sales. Almost three years later, on July...

The initiative follows the introduction of a roadmap proposed in a synthesis paper by the IMF and FSB, aimed at fostering international policies and regulations for crypto assets. With the growing participation of investors in the crypto market, the group of G20 Finance Ministers and Central Bank Governors (FMCBG) have agreed to work on a common roadmap in handling the challenges associated with the crypto market. The roadmap was introduced through a collaborative synthesis paper by the...

Aside from Coinbase has raised concerns about the potential adverse impact of the proposed law across various sectors within the digital asset ecosystem. The recent proposal from the US Internal Revenue Service (IRS) regarding crypto tax regulations has drawn strong criticism from Coinbase, the largest cryptocurrency exchange in the United States. Expressing deep concern, the exchange emphasized that the proposed IRS rule could pose a significant threat to both the crypto industry and the...

CCS Insight predicts that the EU will indeed be the first to introduce specific regulations for AI. CCS Insight, a leading technology research firm has made a bold prediction that generative Artificial Intelligence (AI) is in for a reality check in 2024, as the hype surrounding this transformative technology gives way to the practical challenges it poses. The Cold Shower for Generative AI in 2024 According to recent reports, CSS Insight shared this prediction in its annual roundup of top...

In a bold move aimed at safeguarding consumers, the FCA added 145 digital asset companies, including major exchanges Huobi-owned HTX and KuCoin, to its warning list. This decision follows the FCA’s expansion of regulations to include cryptoasset service providers, regardless of their geographical location. Cracking Down on Crypto The United Kingdom’s Financial Conduct Authority (FCA) has taken a decisive step in its efforts to safeguard consumers and regulate the growing...

Under the Act, companies building and deploying AI models would need to perform risk assessments and label AI-generated content. European Union (EU) negotiators are reportedly discussing placing additional restrictions on large artificial intelligence (AI) models as part of the upcoming AI Act. According to a Bloomberg report, representatives from the European Commission, European Parliament, and EU countries are in talks to implement a plan that would address the issues associated with...

The Hong Kong Monetary Authority (HKMA) recently completed a public consultation on stablecoins regulations. As the city of Hong Kong prepares for mainstream adoption of digital assets through a regulated manner, the officials are grappling with cases of crypto-related scams. In a bid to ensure maximum protection of investors’ funds, Hong Kong’s Secretary for Financial Services and Treasury Christian Hui has noted that trading of retail stablecoins is not yet allowed. With the regulations...

BIS continues to warn that crypto data can be “manipulated or distorted”. The Bank for International Settlements (BIS) has unveiled a new platform it calls “Project Atlas”. According to the Wednesday announcement, the decentralized finance data platform will play an important role in the future regulation of crypto market participants. In a joint report with the Dutch and German central banks, BIS confirms that Project Atlas, which is merely a proof-of-concept for now, has been used to...

Eastern Asia ranks as the fifth most active crypto market, contributing 8.8% of global digital asset activity between July 2022 and June 2023. Its decline over the last few years has been notable – largely propelled by the big blow to the Chinese trading activity and mining sector. Chainlysis’ latest analysis signals a potential tailwind for the region East Asia owing to Hong Kong’s crypto initiatives and industry-friendly regulations that have been launched over the past...

Binance – the world’s largest and most popular digital currency exchange – may not remain in Europe, according to various analysts. What Will Happen with Binance in Europe? Right now, Binance is being hit from both sides. In the U.S., for example, regulations are coming down hard. The company is the victim of a lawsuit filed against it by the Securities and Exchange Commission (SEC), and it has stated that it may shut down its America-based unit as a means of...