Tag Archives: Regulations

For several years now, Binance has played an important role as the big brother of the crypto industry by assisting in the recovery of funds from users who have been victims of theft, scams, or hacks. But now, they are aiming higher with an e-crime training program. On September 27, Binance announced the official launch of its “Global Law Enforcement Training Program,” created to help law enforcement agencies combat financial and electronic crimes that involved crypto or...

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...

The California-based cryptocurrency exchange – Coinbase – reportedly appointed at least four Wall Street traders and established a group to use the company’s own funds to trade cryptocurrencies. Undisclosed members of the platform described the activity as “proprietary” trading. On another note, the company received regulatory approval from the Dutch Central Bank to start providing its products and services on the domestic market. The $100 Million Test Transaction According...

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...

The Biden administration issued its first-ever paper on cryptocurrencies and how the asset class should be regulated within the nation on Friday. While some believe the guidelines require more clarity, Binance’s CEO asserted that the framework is a significant recognition of itself, and his company aims to work with global watchdogs. After issuing a few executive orders on digital assets in the past several months, the Biden administration took it up a notch on Friday when it...

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...

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...