The crash of Sam Bankman Fried-led crypto exchange FTX has been described as another Lehman shock in the financial sector that plunged most firms to liquidity. The aftermath of the FTX challenged the regulators to team up with the key industrial players…
In an advancement announcement, Standard Chartered Bank’s investment and innovation division SC Ventures released a tokenization platform dubbed Libeara. Launching the Libeara positions Standard Chartered Group among the list of companies seeking to capitalize the tokenization of real-world assets (RWA). Lately, the…
The securities and exchange commission (SEC) has given itself an applause for “another highly productive year” in crypto-related charges in 2023. The agency said in a report that it filed 784 total enforcement actions in the fiscal year 2023, including big names…
The crypto industry has reacted to the proposed tax reporting rules put forward by the Treasury. The proposed regulation in collaboration with the Internal Revenue Service (IRS) will require crypto brokers to be treated in the same way as brokers for traditional investments…
As the countdown to April 2024 Bitcoin halving begins, critical players in the crypto sector forecast that the demand for BTC will double down. Michael Saylor, the co-founder of MicroStrategy, anticipates that BTC will increase by ten times before the end of…
As the crypto community ponders the next move for the collapsed Bahamian crypto exchange FTX, the former top executives have established a significant comeback in the digital sector. The return of the former executive aims at identifying the critical areas that went…
Chairman of the Commodities Futures Trading Commission (CFTC), Rostin Behnam has called on Congress in the U.S. to take a more critical position in providing guidance to federal agencies on the way forward for crypto regulation. Behman made the call on Wednesday at…
As Asia positions itself as a hotbed for Web3 technologies, key industrial players in the crypto sector have made impressive moves to push for mainstream adoption of crypto and blockchain technologies. On Tuesday, November 7, the best performing Web3 coalition in Vietnam,…
The government of Kazakhstan has blocked access to Coinbase trading platform in the country, citing violations of digital asset laws, a local media report says. According to the reports, the ministry of Culture and Information said the action was related to crypto…
Crypto bank, SEBA Bank has secured a license from Hong Kong’s Securities and Futures Commission for its subsidiary to operate crypto-related services in the city. The license allows SEBA Bank to be a dealer and distributor of all securities, including virtual assets-related…
In an advance report, the Financial Services Commission (FSC) in Mauritius revealed plans to gather valuable inputs from key industrial players on the significance of incorporating the metaverse in the financial sector. With the rapid growth of the financial sector, the FSC…
Avraham Eisenberg, the man behind the $116 million Mango Market exploiter, has received an extension to his trial dates after a long legal battle between the government prosecutors and his defense lawyers. As the legal peril facing Eisenberg widened, his lawyers requested…
Bittrex Global CEO Oliver Linch says the UK crypto asset regulation proposals released earlier this week are a step in the right direction. He said the proposal is necessary for the UK to become a true crypto hub. He added that although…
The Dubai Financial Services Authority (DFSA) has approved Ripple’s XRP token for use within the Dubai International Financial Centre (DIFC). As a result, licensed virtual asset firms within the DIFC can now incorporate XRP into their virtual asset services. By this approval,…
The financial regulator in Hong Kong, the Securities and Futures Commission (SFC) has released new guidelines for asset tokenization in the Chinese administrative region. In a circular released on Thursday 2 November, the SFC provided rules for intermediaries engaging in tokenized securities-related…
Web3 digital wallet company Backpack has announced it is launching a crypto exchange backed by Dubai regulatory license. The new exchange has already obtained a VASP license from the Dubai Virtual Assets Regulatory Authority. Named Backpack exchange, the trading platform will enter…
In an advanced report, the policymakers in Marshall Island approved new legislation on crypto assets. The report demonstrated that the new law aims to strengthen existing laws on decentralized autonomous organizations (DAOs). At the initial rule-making process, the bill was formulated by…
The Monetary Authority of Singapore (MAS) has partnered regulators in Europe for better policy on the regulation of crypto assets. According to a press release today, Monday 30 October, the agency is partnering Financial Services Agency of Japan (FSA), the Swiss Financial…
The UK has finally released its policy for the regulation of fiat-backed stablecoins, marking a significant milestone in its effort towards crypto regulation. The release of this policy makes way for inclusion of these stablecoins in the UK payment chains. The new…
A senior official of the Federal Reserve, Michael Barr says stablecoins need to be regulated. Barr stated this on Friday in prepared remarks while speaking at a conference in Washington D.C. Barr, who is the vice chair of supervision at the Fed,…
