In a transformative move for the cryptocurrency landscape, Sygnum, a Swiss crypto banking group, has secured a comprehensive crypto license in Liechtenstein through its local subsidiary, Sygnum Europe AG. As announced on September 23, this approval from the Financial Market Authority (FMA) allows Sygnum to operate as a regulated service provider under the Token and
Regulation
The emergence of decentralized finance (DeFi) has revolutionized the way traditional banking and finance operate, offering innovative solutions and new avenues for investment. However, the rapid evolution of this sector has significantly outpaced regulatory frameworks around the world, leading to a convoluted environment filled with uncertainties. In this context, former President Donald Trump’s venture, World
In a bold move to combat the escalating threat of cybercrime, German authorities have recently taken the significant step of shutting down 47 cryptocurrency exchanges alleged to have facilitated illicit activities. This decisive action was announced by the Central Office for Combating Internet Crime (ZIT) in conjunction with the Federal Criminal Police Office (BKA). The
The state of Louisiana has taken a pioneering step by allowing residents to make payments to state agencies using cryptocurrencies, specifically Bitcoin and the stablecoin USDC from Circle. This initiative, announced on September 18, signals an intention to modernize payment systems within governmental operations, enhancing the convenience for constituents. Initially, the Louisiana Department of Wildlife
In a significant development in the cryptocurrency sector, eToro, a prominent trading platform, has announced a substantial halt in its digital asset trading operations following a settlement with the U.S. Securities and Exchange Commission (SEC). This decision stems from an investigation that uncovered eToro’s facilitation of trading crypto assets deemed as securities by U.S. law
The Commodity Futures Trading Commission (CFTC) has recently taken action to address the growing prevalence of crypto scams referred to as “pig butchering.” These scams have resulted in significant financial losses for victims, highlighting the need for increased awareness and education in the cryptocurrency space. The CFTC has partnered with various federal and private organizations
The Law Commission of the United Kingdom (UK) Parliament has recently introduced the Property (Digital Assets, etc.) Bill in an effort to legally recognize digital holdings. This proposed legislation aims to categorize crypto, non-fungible tokens (NFTs), and carbon credits as personal property under British law. This significant development marks a historic moment in British legal
The Digital Chamber (TDC) has taken a stand by calling on Congress to pass legislation that would categorize certain non-fungible tokens (NFTs) as consumer goods and therefore exempt them from federal securities laws. This move comes in response to the growing worries surrounding the Securities and Exchange Commission’s (SEC) recent actions, including sending a Wells
The US Securities and Exchange Commission (SEC) has been facing ongoing concerns regarding the Staff Accounting Bulletin No. 121 (SAB 121). Commissioner Hester Peirce has recently voiced her reservations about this regulation, emphasizing the need for a reevaluation of its content and process. Peirce’s comments follow a speech by SEC Chief Accountant Paul Munter, who
The US Securities and Exchange Commission (SEC) has been vocal about the need for retail investors to have more timely access to fund portfolio data. The current regulatory framework mandates that registered investment companies provide periodic portfolio holdings data to the Commission and investors. However, this data is often delayed, leaving investors with outdated information,
