Regulation

Earn Your First Bitcoin Sign up and get $12 Bonus Referral bonus up to $3,000 Sign up The Texas House of Representatives has passed a bill saying that all crypto exchanges and related platforms must provide proof of reserves. This means that all trading companies must give regular proof that they have enough assets and currency in play to keep themselves afloat and to ensure all customers get...

FDUSD will not be used in Hong Kong until its stablecoin regulations are fully in place. First Digital Group announced the introduction of its USD stablecoin FDUSD. The company, which has its headquarters in Hong Kong, is launching the stablecoin on the Ethereum and BNB blockchains. Having a coin on multiple blockchains can facilitate better interoperability and broader adoption. It also heightens the chances of gaining access to a wider community and benefiting from each blockchain’s...

Popular cryptocurrency exchange Bybit announced it will be exiting the Canadian market, citing recent regulatory developments in the country as the reason behind its decision. The move follows similar decisions made by other exchanges that ceased operations in the North American nation. Starting May 31, new account openings will be unavailable, while existing customers will have until July 31 to make further deposits and enter into new contracts. The company also promised...

Following increased regulatory action from the SEC and other local and global watchdogs, members of the crypto community have been worrying about the industry’s future relationship with the banking sector. Pivot to Europe in The Cards The restlessness surrounding future crypto regulation was amplified following the collapse of both Signature Bank and Silvergate Bank, both of which supplied much of the infrastructure needed to keep the crypto world tethered to the banking...

Earn Your First Bitcoin Sign up and get $12 Bonus Referral bonus up to $3,000 Sign up The European Parliament has approved some of the most sweeping digital currency regulations the continent has ever seen. A digital euro is also planned to go into effect at some point later in the year. European Regulators Are Getting Serious The goal is to prevent all crypto traders from ongoing abuse and...

Earn Your First Bitcoin Sign up and get $12 Bonus Referral bonus up to $3,000 Sign up Hong Kong is looking to implement digital currency regulations. It recently took its first step in doing so by deciding (and taking a page out of the U.S. taxation book) that all crypto will be taxed as property and not money. Hong Kong Changes Its Thoughts on Crypto This is very similar to how crypto is taxed...

[PRESS RELEASE – Singapore, Singapore, May 26th, 2023] Huobi announced the launch of Huobi HK and stated that they will provide cryptocurrency trading services to users in HK. Huobi HK will play a significant role in driving Hong Kong towards becoming the global hub for Web3. In the future, users will be able to buy, sell, and hold mainstream cryptocurrencies such as BTC and ETH, as well as other major cryptocurrencies listed on the independent index through Huobi HK. Huobi...

Huobi Global announced gearing up for the launch of its Hong Kong division on June 1st for users in the city-state. The expansion comes in the backdrop of the Hong Kong securities regulator – Securities and Futures Commission’s (SFC) decision – to allow retail trading in cryptocurrencies has come after a year of turmoil in the sector. The new venue in the special administrative region of China called Huobi Hong Kong will be “fully compliant with local regulations and offer a...

Gemini also plans to expand its workforce after the EU adopted the new Markets in Crypto-Assets Regulations (MiCA), which were formally approved on May 16. Cryptocurrency firm Gemini has revealed that Dublin, Ireland, will be the home of its new European headquarters. On May 25, Tyler and Cameron Winklevoss, owners of the crypto firm, told reporters that the established technology and innovation community, a strong regulatory landscape, and a huge talent pool were all factors that...

OpenAI CEO warns of potential exit from Europe if the firm fails to meet regulatory requirements for the forthcoming AI rules. OpenAI, the brains behind the famous and controversial artificial intelligence (AI) ChatGPT, said Wednesday that it might consider leaving Europe if it faces challenges complying with the upcoming AI regulations in the region. Based in the United States, OpenAI encountered a major legal snag in Italy last month when its Data Protection regulator banned it from...