Tag Archives: Regulations

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...

Well-known crypto critic, Senator Elizabeth Warren, won support from Washington-based banking advocacy group, the Bank Policy Institute (BPI), for newly introduced bipartisan legislation that seeks to regulate the crypto industry and eliminate loopholes for illicit activity. Its support has been viewed as a peculiar move because both Warren and the Wall Street banks have hardly agreed on the same things before. In fact, the Senator has been known to blast at the trade group...

The House Financial Services Committee (HFSC) failed to reach an agreement for stablecoin legislation on Thursday due to a number of disagreements Democrats had with its existing text. Committee Chair Patrick McHenry (R-NC) blamed the White House for holding up the bill, while Democrats alleged that Republicans were attempting to rush incomplete legislation. No Compromise For Stablecoin Bill The bill, titled the Clarity for Payment Stablecoins Act of 2023, would allow the...

The rapidly changing digital asset landscape has resulted in a flexing of regulatory muscles between different watchdogs in defining terms and drawing lines of authority. This is especially true in the case of the United States where the SEC and CFTC are engaged in a turf war over regulatory oversight of the space. But this conflict could come to an end soon with the help of FIT21. Weeks after the historic verdict on the Ripple vs. SEC case, the US is waiting for the approval...

U.S. Congress undertook its first-ever markup for digital asset legislation on Wednesday, attempting to establish clear jurisdiction for the nation’s chief market regulators. The bill was not well received by Democrats, however, many of whom find it overly friendly to the crypto industry, and similar to what disgraced FTX boss Sam Bankman-Fried had advocated for. Democrats Blast Crypto Bill During the hearing, House Financial Services Committee (HFSC) Chair Patrick McHenry...

The Indonesian government has unveiled the country’s crypto bourse and clearing house to increase monitoring of the cryptocurrency sector and also improve investor protection in the country. The launch of the new crypto asset exchange comes after an initial announcement in 2021. National Crypto Exchange Finally Launches Indonesia’s crypto bourse, which began operations earlier in the week according to the country’s Commodity Futures Trading Regulatory Agency (Bappebti), comes...

Andrew Griffith, economic secretary to the UK Treasury, said that equating crypto assets as a form of gambling would risk creating misalignment with international standards and approaches from other major jurisdictions, including the European Union. Responding to a Treasury Committee’s report on regulating crypto, Griffith said that such a move would potentially create unclear and overlapping mandates between financial regulators and the Gambling Commission. Regulating Crypto...