Tag Archives: Regulations

The United States Internal Revenue Service (IRS) released its annual report on criminal investigations, and cryptocurrencies played a starring role in the area of cybercrime. According to the IRS cybercrime unit’s report, more than $3.5 billion in cryptocurrencies were seized during 2021. This would make up to 93% of all seizures made in 2021. The Most Famous Crypto Cases Solved by The IRS: Among the most successful crypto cases closed by the IRS cybercrime unit are: The...

Changpeng Zhao – Chief Executive Officer of Binance – revealed that Binance US (the American arm of the cryptocurrency exchange) plans to raise hundreds of millions of dollars in a funding round. Additionally, Binance will soon disclose where its new headquarters will be. Funding Rounds Before The IPO Speaking at the Bloomberg New Economy Forum in Singapore, Zhao (commonly known as CZ) admitted he does not know the exact number of the fresh funding. However, it will be a...

Narendra Modi – the Prime Minister of India – urged democratic countries to work together and design a comprehensive regulatory framework for cryptocurrencies. Without it, the asset class can be employed unlawfully and can even spoil the younger generations, he added. Regulations Are Necessary In a recent appearance at the Sydney Dialogue, India’s leader highlighted the importance of implementing regulatory policies in the digital asset industry. He opined that the process...

The last couple of years have witnessed explosive growth in the mainstream acceptance of cryptocurrencies as aggregate global digital asset capitalization surged past $3 trillion in market capitalization amid a flood of institutional demand and expanded use cases. Digital assets like bitcoin (BTC), ether (ETH), and several other altcoins have come a long way, gradually transitioning from speculative investments to crypto portfolio stablemates. As cryptocurrencies continue...

Israel’s Authority for Combating Terror Financing and Money Laundering will reportedly impose new regulations on various digital financial products, with cryptocurrencies being some of them. The government unit raised hopes that the legislation will diminish crypto’s use in criminal activities and grant more support to the local investors. Clear Standards for Crypto A recent report by the Jerusalem Post reads that Israel intends to increase the clarity in the digital asset...

Binance believes the future of crypto needs to be user-focused. Amidst mounting regulations, the CZ-led cryptocurrency exchange has published a list of what it considers to be the basic rights for every digital asset user. Beyond the hype of Bitcoin (BTC) and Dogecoin (DOGE), Binance stated that there is more to the cryptocurrency sector. Its constitution-like document “10 Fundamental Rights for Crypto Users” emphasizes the need for financial inclusion, privacy, among...

The Q3 woes have not hindered FTX.US from posting impressive figures for the same time period. As a matter of fact, the platform claims to lead all crypto asset exchanges in the United States with respect to liquidity. FTX.US’ Volume Soars More Than 500% According to the latest report, the average daily volumes of FTX.US have surged by an astonishing 512% in its Q3 than the previous quarter. The metric even increased to $807 million during a 24-hour period on the 7th of...

The National Ulema Council (MUI) has reportedly announced a ban on the use of crypto, citing Shariya law. Even as the Indonesian government has acknowledged crypto as a commodity, it still cannot be legalized under Islamic law. According to the reports, the head of religious decrees, Asrorun Niam Soleh, stated that the rejection ignites from the thesis that cryptocurrencies are riddled with “uncertainty, wagering, and harm.” However, the Chairman of the MUI’s Fatwa Commission...

Bitcoin ETFs have been a smash hit this year, especially since the launch of the first futures one in the United States last month. But the Spanish counterpart may not be far behind as well. As a matter of fact, the Spanish multinational financial services company Banco Santander is looking to release its very own Bitcoin exchange-traded fund (ETF). The appetite for Bitcoin and other cryptocurrencies is growing at an unprecedented rate. Realizing the need to cater to this...

The government of Kazakhstan reportedly plans to put local companies working with digital assets under its regulatory scope. According to a proposed bill, those entities will have to give detailed information about their crypto operations to the country’s financial watchdogs to prove they have no connections to money-laundering schemes. Kazakhstan May Tighten Its Crypto Rules As reported by the local media Sputnik, the National Parliament of Kazakhstan passed a bill to make...