Tag Archives: Regulations

The Australian Securities and Investment Commission (ASIC) has sentenced Melbourne-based cryptocurrency lending firm Helio for falsely claiming it held an Australian credit license (ACL) in August 2019. According to an official release from the ASIC, Helio was sentenced to a non-conviction bond and entered into a recognizance of A$15,000 ($9,600) for 12 months on the condition of good behavior. ASIC Sentences Helio The Australian securities regulator charged Helio in April...

Singapore authorities have arrested 10 foreign nationals suspected to be involved in money laundering and forgery, among other illicit activities, and have seized or frozen cash, assets, and crypto worth over S$1 billion. While eight other suspects are on the run, the case could be considered one of Singapore’s largest money laundering crackdowns. Singapore Seizes Over $1B in Cash, Properties, and Assets The Singapore Police Force (SPF), in a Facebook post on August 16,...

Dante Disparte, the chief strategy officer and head of global policy of the second-largest stablecoin issuer Circle, has blasted crypto firms that create counterfeits of the U.S. dollar. According to a Bloomberg report, Disparte called for relevant federal legislation around stablecoins to protect consumers and prevent investors from companies with fake USD. Circle CSO Criticizes Firms That Counterfeit USD Disparte said the several bank failures in the U.S. earlier this year...

The U.S. Securities and Exchange Commission is leaving securities enforcement up to the CFTC when it comes to cryptocurrency. While the commission rushes ahead of Congress to write the entire federal crypto policy by lawsuit, the CFTC is going for more clear-cut violations. The Commodity Futures Trading Commission took the lead late last week and filed charges of securities fraud against a cryptocurrency business in Florida. It filed the charges in the U.S. District Court for...

Following last year’s stablecoin implosion, international leaders have emphasized the importance of setting up global regulations and norms for this sector. Despite such calls, only a few have taken concrete steps to enact these measures. In contrast, Singapore’s central bank has taken a proactive approach by introducing a structured framework, outlining various prerequisites, aiming to bring transparency to stablecoin issuers and their operations. Singapore’s Stablecoin...

The leading financial technology company – Revolut – reportedly plans to increase its global cryptocurrency team by hiring up to 20% more employees by the end of 2023. The move comes somewhat unexpectedly since the firm recently disclosed that it will suspend digital asset services to US-based customers from September. As revealed by Financial News, Revolut is set to onboard over 1,000 people this year across the United Kingdom, Europe, and India. Approximately 40% of those...

Binance became the first fully licensed cryptocurrency exchange in El Salvador after receiving Bitcoin Services Provider license (BSP) and Digital Assets Services Provider license (DASP) from the domestic regulators. The firm’s impressive expansion over the years includes nations like Italy, France, Sweden, Australia, the United Arab Emirates (UAE), Japan, and many more. The world’s largest cryptocurrency exchange – Binance – announced that the obtained authorization from El...

The leading cryptocurrency exchange Blockchain.com received a payment institution (MPI) license from the Monetary Authority of Singapore (MAS).  This marks the company’s second license in the city-state after the in-principle approval secured in September 2022. Blockchain.com announced that its recently-obtained authorization in Singapore follows the entity’s strategy to comply with regulators in every region where it conducts business. The team behind the exchange said the...

Kenyan police officers have reportedly raided a warehouse belonging to the recently launched crypto project Worldcoin, carting away documents and machines for investigative purposes. According to a report by local media KahawaTungu, police officers showed up at the Nairobi-based warehouse over the weekend with a search warrant and multi-agency officials. They left with equipment believed to store data collected by Worldcoin. Worldcoin Nairobi Warehouse Raided Recall that the...

The House Financial Services Committee (HFSC) approved a slew of proposals related to digital asset regulation last month, of which any could be the first piece of crypto-specific legislation signed into U.S. federal law. Here’s a summary of the differences between the most important bills, and what each could mean for crypto as a whole. 4 Crypto Bills: A Summary One of the most high-profile bills to score approval was the Financial Innovation and Technology for the 21st...