Regulation

[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...

Japan will implement stricter rules for exchanges, including the implementation of the FATF travel rule, to combat money laundering and ensure transparency in cryptocurrency transactions. On May 23, Japan announced that it will implement stricter measures against money laundering (AML) in cryptocurrency transactions starting from June 1, in order to comply with global regulations. According to Kyodo News, the decision to strengthen the regulations was made after a review of relevant laws...

Michael Saylor – Executive Chairman of the Bitcoin-bullish software company MicroStrategy – spoke at the Bitcoin 2023 conference in Miami regarding the trajectory of Bitcoin adoption as a Treasury Reserve asset, and its place next to crypto in the US regulatory perimeter.  The former CEO addressed whether the so-called “lack of clarity” surrounding crypto regulation in the United States is “by design,” and how regulatory agencies actually view digital assets.  What the SEC...

Earn Your First Bitcoin Sign up and get $12 Bonus Referral bonus up to $3,000 Sign up Zambia is in the process of testing digital currencies like bitcoin. The country recently commented that these tests are almost finished, and that the nation is planning to use the results of the tests as a means of doling out solid crypto regulation once and for all. Zambia is Almost Done with Its Crypto...

Several jurisdictions have made outstanding efforts to release standard crypto regulations to safeguard citizens and their assets. World securities and future market regulator, the International Organization of Securities Commissions (IOSCO) has introduced a global approach to regulating the crypto market and digital assets. According to the statement made to the press, the proposed recommendation is largely directed toward addressing concerns related to investor protection and market...

Shanghai-based cryptocurrency exchange – Hotbit – announced its decision to stop all its operations starting May 22. The team behind the platform believes centralized exchanges are “becoming increasingly cumbersome.” It further added that the highly complex and interconnected businesses are difficult to comply with, whether for compliance or decentralization and are “unlikely to meet long-term trends.” The crypto exchange explained that successive collapses of large...

The Malaysian SC has urged the local investors to immediately cease trading via Huobi Global, withdraw their investments, and close their accounts. A leading centralized crypto firm Huobi Global Limited and its Chief Executive Officer Leon Li have been accused of operating a digital asset exchange in Malaysia without registration. As a result, the Securities Commission of Malaysia (SC) has ordered the cryptocurrency exchange to immediately cease operations within its jurisdiction. Notably,...