South Korea’s Financial Supervisory Service (FSS) is taking proactive steps to tighten oversight of crypto trading platforms within its jurisdiction. The regulator recently announced that local exchanges will be required to establish a continuous monitoring system for unfair transactions and report any abnormal activities promptly. This move aims to eliminate fraudulent transactions and ensure compliance
Regulation
Mike Novogratz, the CEO of Galaxy Digital, recently expressed his optimistic outlook for cryptocurrency regulation in the US, regardless of the outcome of the 2024 presidential election. He emphasized the importance of bipartisan support for the crypto sector, stating that it cannot afford to have one party in favor of it while the other opposes
Entrepreneur and billionaire Mark Cuban has recently called on the US Securities and Exchange Commission (SEC) to make adjustments to Form S-1 to accommodate token-based companies looking to register with the authorities. This request comes in response to SEC Commissioner Mark Uyeda’s concerns about the current challenges with crypto disclosure filings. Form S-1 is a
Silvergate Capital found itself in hot water after settling with the SEC for a hefty $50 million. The SEC accused the company, its subsidiary Silvergate Bank, and two executives of deceiving investors about the strength of their BSA/AML compliance program. In addition, they were accused of failing to adequately monitor crypto customers, including the exchange
Circle, a prominent player in the cryptocurrency space, recently made headlines by announcing that it has obtained an e-money license from France. This development positions Circle as the first global stablecoin issuer to comply with the EU’s Markets in Crypto-Assets (MiCA) regulations. This article delves into the significance of this achievement and what it means
The Bahamas are taking steps to increase the adoption of their central bank digital currency, the “Sand Dollar”, by providing access through commercial banks. This move is seen as critical by the Central Bank of The Bahamas to raise adoption rates for CBDCs and mobile payments. Governor of the Central Bank of The Bahamas, John
Cryptocurrencies have brought about a revolution in the world of digital finance, presenting both challenges and opportunities for regulators across the globe. The European Union has taken a proactive approach by introducing the Markets in Crypto-Assets regulation (MiCAR) to provide a harmonized framework for crypto asset services. However, the emergence of non-custodial crypto asset service
Coinbase, a prominent player in the cryptocurrency market, could be facing regulatory challenges in the near future. This is in relation to new FASB accounting rules that are set to change the way digital assets are accounted for. The Financial Accounting Standards Board (FASB) agreed upon new accounting rules in 2023 that will officially come
Louisiana Governor Jeff Landry recently signed a bill, HB 488, that aims to protect the rights of individuals and businesses to engage in crypto transactions. The bill prohibits central bank digital currencies (CBDCs) and ensures that governing authorities cannot accept or require payments in CBDCs. The bill also lays out rules around crypto mining and
Ripple, a prominent cryptocurrency company, is facing new legal challenges following a US judge’s decision to allow a lawsuit against the firm. The lawsuit specifically targets CEO Brad Garlinghouse for allegedly making misleading statements. The case is set to proceed to trial, where a jury will determine whether Garlinghouse misled investors during a televised interview
