Regulation

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...

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...

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...

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...

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...

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...

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...

Earn Your First Bitcoin Sign up and get $12 Bonus Referral bonus up to $3,000 Sign up How does crypto regulation work around the world? It appears to be different in every country, and the goal is to try and find the best approaches and take the best points from each to form a solid roadmap for traders everywhere. Crypto Regulation Differs Depending on the Country There has been a huge call for...

A high-ranking Hong Kong official has warned crypto exchanges to expect strict regulation and advises those in opposition to go elsewhere.  Hong Kong has stated that its upcoming crypto regulation would not promote a light-touch approach despite the city’s crypto-friendly disposition. The Chinese special administrative region is putting the finishing touches to digital asset licensing rules as it seeks to become a global crypto hub. Speaking at Tuesday’s Bloomberg Wealth Asia Summit, Hong...

Brian Armstrong, the co-founder and CEO of leading American cryptocurrency exchange Coinbase, believes the U.S. Securities and Exchange Commission (SEC) is on a lone crusade in the push for regulatory clarity in the country, as the agency’s stance on the matter is different from that of Congress and other federal regulators. During a Monday interview with CNBC, the CEO insisted that SEC chair Gary Gensler is attempting to regulate the American digital asset industry from an...