Tag Archives: Regulations

Thailand’s Securities and Exchange Commission (SEC) prohibited domestic cryptocurrency entities from providing staking and lending services to clients. The ban aims to protect traders and the public from risks related to such activities. The South East Asian country has been active on the digital asset scene lately. At the beginning of the year, the local authorities displayed intentions to start taxing transactions with bitcoin and alternative coins, while later, they...

On September 13, the U.S. Treasury Department published a guide with a series of steps for U.S. citizens to follow in order to withdraw their funds from Tornado Cash. Tornado Cash was a mixing service shut down on August 8 by the U.S. Treasury Department. This happened after investigations showed that the platform was used to launder money thanks to its transaction obfuscation features. Users Must Apply For a License to Withdraw Funds Per the Treasury Department’s guidelines,...

HashKey Capital Limited – the investment arm of the finance company HashKey Group – received approval from Hong Kong’s Securities and Futures Commission (SFC) to manage a portfolio of 100% digital assets. The regulatory green light doubled down on the pro-crypto stance that the special administrative region of China has displayed recently. Not long ago, a study estimated that Hong Kong is the most crypto-ready nation. Diving Deeper Into Crypto According to a recent press...

The U.S. Department of Justice released a statement on September 12 reporting that Nikhil Wahi, brother of ex-Coinbase product manager Ishan Wahi, pleaded guilty to committing cryptocurrency wire fraud using insider information sourced from his brother. Per the release, Nikhil Wahi faces up to 20 years of possible jail time. In addition, he will have to forfeit all unlawfully obtained monetary gains. Ishan Wahi, on the other hand, pleaded not guilty in early August to the...

The White House Office of Science and Technology Policy (OSTP) has released a report examining the connection between distributed ledger technologies (DLT) and climate change.  The office determined that crypto’s relationship with the environment is a mixed bag. While acknowledging the positive impact that mining can have on grid stability and renewable development, it can also exacerbate “environmental justice issues” due to greenhouse gas (GHG) emissions and other...

Blockchain Australia – an industry body representing Aussie businesses and individuals participating in the crypto industry – announced the appointment of Laura Mercurio as its next Chief Executive Officer. She has a rich experience in the financial field, working previously for BlackRock, Deutsche Bank, and Citigroup. Recently, numerous other individuals who were part of monetary institutions and even government officials moved to the digital asset space. Such an example is...

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...

The Securities and Exchange Commission of Thailand (SEC Thailand) has asked cryptocurrency companies operating in the country to include clear and visible warnings about the risks associated with virtual tokens and crypto investments. SEC Guideline on Crypto Ads In an email statement from last week, the capital market regulator asked companies to abstain from giving false and misleading information in their ads. They were also asked to provide information on advertising terms...

Earlier today, the Constitutional Court of the Central African Republic (CAR) dictated it was unconstitutional to purchase citizenship, e-residency, and land with the government-backed cryptocurrency “Sango Coin.” As per a Reuters report, the Court said the market’s volatility hindered the crypto project’s feasibility. The price of Sango Coin has been declining since November 2021, four months after its launch. Sango Coin launched on July 21 of 2021. The move was a...