Regulation

Marathon Digital Holdings, a leading Bitcoin mining company, has announced a $250 million private offering of convertible senior notes. This move has sparked debate within the industry as Marathon aims to strengthen its Bitcoin holdings for the long term. The notes are due to mature in September 2031 and offer investors the option to convert them into cash, Marathon’s stock, or a combination of both. According to their blog post, the offering is being made under the United States Securities...

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Publicly listed crypto exchange Coinbase has issued a statement to Commodities and Futures Trading Commission (CFTC) officials on reconsidering its definition of ‘gaming.’ With that, it seeks to convince the agency to alter its upcoming rules for prediction markets. The Coinbase statement noted, “We support the Commission’s mission to promote integrity, resilience, and vibrancy of the US derivatives markets through sound regulation. However, we have significant concerns with both the...

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India has no immediate plans to regulate cryptocurrency sales and purchases The government is assessing crypto risks and benefits, aiming for a policy by September 2024. The Ministry of Finance states that India does not currently have any plans to regulate Cryptocurrency transactions. GM Harish Balayogi, a member of the Lok Sabha, asked questions concerning the country’s laws governing virtual digital assets (VDAs). Pankaj Chaudhary, the Minister of State for Finance, responded in writing...

Xapo Bank is the first UK bank to offer interest-bearing accounts for Bitcoin and fiat currency. Xapo Bank provides 1% interest on Bitcoin without staking, lending, or locking up assets. Xapo Bank is the first bank to provide interest-bearing accounts in both Bitcoin and fiat currencies. Gibraltar-based bank announced its extension into the United Kingdom on August 5, 2024, This milestone took place under the UK’s passport program, which was approved by the Financial Conduct Authority (FCA),...

The French financial regulator, the Autorité des Marchés Financiers (AMF), is now open to scrutinizing applications of companies that want to register as crypto asset service providers (CASPs). With the markets in crypto assets (MiCA) legislation set to take full effect by year-end throughout Europe, CASPs must register in any of the bloc’s countries to operate legally in the EU. France has become the first major EU economy to accept CASP applications. The AMF’s announcement read, “With six...

Vice President Kamala Harris faces increasing pressure to clarify her stance on cryptocurrency as the 2024 election approaches or risk losing the crypto industry’s support to former President Donald Trump. A new report from the Official Monetary and Financial Institutions Forum (OMFIF) underscores the urgency for Harris to engage with the crypto community more effectively. Democrats Urge Party to Embrace Crypto and Blockchain Trump has gained favor within the crypto community by promising...

South Korea has introduced new supervisory fees for cryptocurrency exchanges. These regulations have affected major players like Upbit and Bithumb. Starting next year, these exchanges will need to pay these fees as part of updated regulations announced by the Financial Services Commission on July 1. The new rules are part of the revised ‘Enforcement Decree of the Act on the Establishment of the Financial Services Commission’ and the ‘Regulations on the Collection of Financial Institution...

Tron founder Justin Sun has urged China to reconsider its stance on cryptocurrency and embrace friendly policies. Sun’s call to action comes in the wake of former President Donald Trump’s speech at the Bitcoin 2024 event, where the former President pledged to prevent China from dominating the global digital asset industry. Sun Sees US-China Crypto Rivalry as a Positive Force In a July 28 post on X, Sun urged China to advance its crypto regulations in response to former...