Regulation

There are ongoing efforts to classify Ethereum. As of now, a final decision is yet to be reached regarding whether it should be considered a security or not. Considering the arguments, predicting the final outcome is challenging. With the recent noise about cryptocurrency regulation and events such as crypto exchanges being sued for offering unregistered securities, there have been varying views from experts and high-profile individuals about the state of some specific cryptocurrencies....

Wird Binance sein US-Geschäft aufgeben müssen? Die grossen Kryptobörsen haben stürmische Monate hinter sich, doch die schlechten Nachrichten reissen nicht ab. Im Fadenkreuz diesmal: Branchenprimus Binance. Die US-Börsenaufsicht SEC hat gestern stolze 13 Klagen gegen das Unternehmen sowie deren Gründer Changpeng Zhao eingereicht. Die Vorwürfe dabei wiegen schwer: Der Anbieter habe unter anderem auf illegale Weise Finanzgeschäfte und Dienstleistungen...

Representatives from Coinbase, Robinhood, and the Commodity Futures Trading Commission, among others, will speak at a House Agriculture Committee hearing on digital asset regulation about the recently released draft crypto bill. United States legislators put forth a crypto bill to provide clear regulations for cryptocurrency, its users, and companies. The 162-page bill attempts to establish regulatory jurisdiction and definitions. However, it was also acknowledged that the bill would...

Through its privacy commission, Japan issued a warning and threatened to take action against OpenAI if it violates any privacy regulation. Japan’s privacy agency has announced it issued a warning to OpenAI on using or collecting user data. The Personal Information Protection Commission (PPC) urged the ChatGPT creator to only collect sensitive information with consent from users. In the statement, the privacy watchdog suggests it is currently not investigating OpenAI for any breach of...

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...