Regulation

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Gavin Newsom – Governor of California – refused to sign legislation that would have required cryptocurrency firms and individuals in the state to gain a certain license to operate in the area. Instead, he argued that the authorities should impose more flexible rules to “keep up with rapidly evolving technology and use cases” of digital assets. Earlier this year, Governor Newsom issued an executive order on cryptocurrencies, aiming to establish a bridge between California...

Mario Abdo Benitez – the president of Paraguay – has rejected a crypto mining bill that would have brought a certain level of regulation to an industry that has grown so popular in recent years. Benitez Doesn’t Want to Regulate Crypto Mining The bill calls for two specific things. Number one, it asks for committees and agencies throughout the country to explore the benefits of mining to see if it could potentially be transformed into an industrial activity. This would...

The Commodity Futures Trading Commission (CFTC) has filed an enforcement action lawsuit against Ooki DAO, a crypto margin trading and lending platform for engaging in digital asset margin trading that only CFTC-registered Futures Commission Merchants (FCM) can perform.  Ooki DAO also failed to adhere to customer identification requirements prescribed under the Bank Secrecy Act, the commission further alleged in its lawsuit filed in the U.S. District Court for the Northern...

A unique event “MetaVentures Bangkok” will be held on December 14-15 in Bangkok. The organizers are venture capital fund “MetaVentures”. The “MetaVentures” brand is reorganized into a venture capital fund focused on digital projects related to Metaverse, NFT, Digital Art and other promising areas of the cryptocurrency industry. “MetaVentures Bangkok” will be a vivid event due to the global experience of the organizers and unification industry leaders in the areas of NFT,...

Andrew Bragg – an Australian Liberal Senator for New South Wales – drafted a bill that could put the local cryptocurrency sector under strict supervision. If accepted, the legislation will require digital asset exchanges and stablecoin issuers to disclose their operations to authorities, while Chinese banks dealing with digital yuan in Australia will also face enhanced scrutiny. Australia Should Move Fast In a recent speech at the Blockchain Associations Forum, Senator Bragg...

In a series of reports, the Joe Biden administration on Friday has offered its response to the President’s executive order on cryptocurrencies – Ensuring Responsible Development of Digital Assets – issued earlier this year, media reports said. Here is all that you need to know about the Biden administration’s Friday reports: The Joe Biden administration has asked the enforcement agencies to strictly pursue the digital asset sector and identify gaps in regulations. It also...

India’s government has not completely embraced cryptocurrencies, and the Governor of the Central Bank of India, Shaktikanta Das has warned Indians about cryptocurrencies. There have been different reactions from different nations to cryptocurrencies, ranging from rejection to acceptance and regulation. The cryptocurrency market has been on a bearish cycle, the bulls on numerous occasions tried to take over the market, but all to no avail. Different government agencies...

The Australian Federal Police – an independent agency responsible for investigating crime and protecting the country’s national security – reportedly formed a new cryptocurrency unit. The goal is to detect criminals who use digital assets in their activities, such as money launderers, and bring them to justice. Applying strict regulations on the digital asset sector has been a mission for the Aussie government for a while now. Last year, former Federal Treasurer – Josh...

The United Kingdom finally has a new Prime Minister of the United Kingdom in the face of Liz Truss, who spoke positively about the cryptocurrency industry several years ago. To become the UK’s next PM, Truss was chosen over Rishi Sunak (Chancellor of the Exchequer from 2020 to 2022), who also favors digital assets. Earlier this year, he opined that Britain will thrive economically if it becomes a global crypto hub. It is safe to say that the political environment in the...