Tag Archives: Regulations

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...

Dubai’s Virtual Asset Regulatory Authority (VARA) reportedly instructed local cryptocurrency-related firms to require a license from the watchdog before advertising their products. The initiative could secure maximum protection for investors and limit the spread of misleading marketing campaigns focused on digital assets. Over the past several months, Dubai has emerged as a global cryptocurrency center where numerous companies and leading players set foot. Sam Bankman-Fried’s...

In an attempt to stay afloat, Zipmex has asked for meetings with the Securities Exchange Commission in Thailand as well as other government agencies as it works on a recovery plan. The firm intends to introduce its investors to the watchdogs. In a statement, Zipmex said, “We have requested meetings with Thailand’s Securities and Exchange Commission and regulators in the country where we operate to introduce our investors to regulators and present our recovery plan to...

Tether – the issuer of USDT, the world’s largest stablecoin – is yet to freeze addresses associated with the privacy protocol Tornado Cash. That means USDT holders can still technically use the smart contract to obfuscate their funds.  However, it remains unclear whether Tether’s permissiveness amounts to a violation of U.S. sanctions. Tether and Tornado According to a statement from Tether on Wednesday, the Office of Foreign Assets Control (OFAC) has established no...

On August 19, The Federal Deposit Insurance Corporation (FDIC) issued various cease and desist letters to five cryptocurrency companies including FTX US, owned by the crypto billionaire Sam Bankman-Fried, along with news outlets Cryptonews.com, Cryptosec.info, SmartAsset.com, and the site FDICCrypto.com. The FDIC asked the aforementioned companies to cease making “false or misleading statements” regarding their relationship with the FDIC. According to the FDIC, FTX US and the...