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Regulation

Fidelity Remains Devoted to Crypto but Will ‘Tread With Caution’

Christian Staub – Managing Director for Fidelity International’s business in Europe – said the investment giant intends to remain part of the cryptocurrency ecosystem.  However, he added that it will not urge people to buy bitcoin due to its “volatile and nascent” nature. The lack of pertinent regulation in the space is another present obstacle for the firm. Crypto to Become ‘More Sophisticated’ The multinational investment firm that has introduced several cryptocurrency...

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More Crypto Firms Will Leave The US Due to Confusing Regulations: Ripple CEO

Brad Garlinghouse, the chief executive officer of blockchain company Ripple, believes more crypto firms and businesses will leave the United States due to confusing regulations in the country. During an interview with CNBC, the CEO said the confusion in the country would push crypto entrepreneurs and investments into other friendly regions like Europe, the United Arab Emirates (UAE), the United Kingdom, and even Singapore. Regulatory Confusion in the U.S. Garlinghouse noted...

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MiCA et TFR adoptés définitivement par le Parlement Européen

Les parlementaires européens ont adopté le 20 avril dernier la version définitive des règlementations MiCA et TFR, qui encadrent dans l’Union Européenne l’activité des plateformes centralisées d’échange d’actifs numériques. TFR (Transfer of Funds Regulation) Le règlement TFR exige des plateformes centralisées : – qu’elles fournissent des informations d’identification sur toutes les transactions, – qu’elles bloquent les transactions...

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UK Crypto Hub Ambitions on Rocks as Treasury Wants to Treat it as Gambling

The United Kingdom has grand aspirations of becoming a digital assets hub, just as London already is for traditional finance. However, those plans are being thwarted by watchdogs and policymakers who want to take a heavy-handed approach to regulation. On May 17, it was reported that a panel of UK lawmakers said crypto assets should be regulated as gambling “given they are potentially used by fraudsters and pose significant risks to consumers.” The report from Parliament’s...

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China’s Top Prosecution Agency Warns NFT Users of Possible Economic Exploitation via Price Manipulation

According to Chinese prosecutors, NFT creators hide in plain view through the use of airdrops, blind boxes, limited sales, and synthesis. The Chinese government has pushed the country to digital economy adoption post-Covid-19 global pandemic. The country has significantly rolled out the digital yuan in anticipation to widen the adoption of its currency as a global reserve. The digital Yuan is expected to significantly help improve the overall liquidity of cryptocurrencies in the Asian...

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Tencent Q1 2023 Earnings Statement Rides High on Increased Payment Volumes, Ad Sales, Gaming

Chinese tech giant Tencent saw its Q1 2023 revenue jump 11% YoY to $21.4 billion amid relaxed industrial regulations.  Tencent Holdings posted its Q1 2023 results, reflecting the company’s fastest jump in quarterly revenue in over a year. The latest quarterly figures also mark a resounding rebound for the Chinese tech giant following a series of underwhelmingly flat quarters. For Q1 2023, Tencent posted an 11% year-over-year revenue jump to 150 billion Chinese yuan ($21.4 billion) compared...

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SEC Moves to Block Coinbase’s Request for Clarification in Court (Report)

Late last month, Coinbase – who had previously been hit with a Wells notice, an informal warning from the SEC usually followed by a lawsuit – asked the courts to force the agency to clearly explain what actions they should take in order to remain compliant. The SEC, on the other hand, remains tight-lipped. Amicable Discussion Preferred According to Brian Armstrong – the CEO of Coinbase – his firm intends to fight the current trend of regulation by enforcement and seeks to...

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Opinion: Crypto Fans May Want to Wait on Their Calls for Regulation

Earn Your First Bitcoin Sign up and get $12 Bonus Referral bonus up to $3,000 Sign up Everyone keeps talking about crypto regulation as of late. It appears the topic has gained a lot of steam since crypto exchange FTX collapsed into a steaming pile of bankruptcy and fraud. Regulation Should Wait Until We Can Replace Those in Charge Under normal circumstances, a situation like this would indeed...

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SEC Says Crypto Regulatory Clarity May Take Years and They’re in No Rush

The regulator argues that it is under no obligation to meet the requirements outlined in Coinbase’s recent petition. The United States Securities Exchange Commission (SEC) has finally replied to Coinbase’s demand for regulatory clarity. Recall that the American exchange recently filed a petition asking the regulator to make clear crypto regulations. In a formal response issued to the court, the SEC insists that it will take its time to come up with regulations. But while the rules may take...

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South Korean Prosecutors Raided UpBit and Bithumb HQs (Report)

South Korean prosecutors have reportedly raided the offices of the two leading cryptocurrency exchanges in the country – Upbit and Bithumb – as part of an ongoing investigation against Kim Nam-kuk.  The politician faced public scrutiny after several reports indicated he acquired 800,000 Wemix tokens by bypassing necessary regulations. He transferred the coins from Bithumb to Upbit last year, and the authorities suggested the platforms could have been involved somehow.  The...

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