The U.S. Commodity Futures Trading Commission (CFTC) has recently concluded a case against a South African company involved in crypto fraud. In an announcement made on September 7, the CFTC disclosed that a judge has entered a consent order against Mirror Trading International Proprietary Limited (MTI), holding the company accountable for various types of fraud.
Regulation
The rapid growth of crypto-assets, including Bitcoin and stablecoins, has caught the attention of global financial regulators. The International Monetary Fund (IMF) and the Financial Stability Board (FSB) recently published a report commissioned by G20 under India’s leadership, which highlights the need for a comprehensive framework to regulate these digital currencies effectively. The report emphasizes
The South Korean government is set to introduce a new bill aimed at tracking and freezing crypto assets that North Korea is allegedly using for its weapons program, according to local media outlet Korea JonngAng Daily. This bill, if implemented, will further enhance sanctions against the neighboring nation and provide measures to monitor and mitigate
As the world continues to embrace the transformative potential of artificial intelligence (AI), governments and organizations are increasingly recognizing the need to address the ethical and safety implications associated with its development. In this regard, the government of the United Kingdom has taken a proactive stance by publishing a series of objectives for its upcoming
In a recent court case against Grayscale Investments, the SEC was dealt a blow as a federal court ruled that the agency must review its rejection of Grayscale’s proposal to convert its bitcoin trust into an ETF. The court found the SEC’s rejection to be “arbitrary and capricious” as it failed to provide a clear
The cryptocurrency industry is continuously evolving, and as innovation meets regulation, the need for legal clarity has become of utmost importance. Recent legal battles between major crypto exchanges and regulatory authorities highlight the significance of obtaining comprehensive legal opinions for token projects. These opinions play a pivotal role in navigating the complex regulatory environment and
Former chairman of the U.S. Securities and Exchange Commission (SEC), Jay Clayton, has expressed his belief that U.S. securities regulators will likely approve a Bitcoin exchange-traded fund (ETF). In an interview with CNBC on September 1, Clayton discussed the challenges faced by the SEC in regulating the cryptocurrency market and expressed optimism about the future
Worldcoin, a digital identity project, has gained significant popularity in Argentina, with 9,500 Argentinians verifying their World ID on the platform within a day. The project’s success can be attributed to Argentina’s crypto-forward attitude and the unstable state of its economy. However, Worldcoin currently faces regulatory investigations in various jurisdictions, raising concerns about its data
Securities and Exchange Commission (SEC) Chairman Gary Gensler is set to testify before Congress twice this September, facing questions about the SEC’s approach to digital asset regulation. This comes amidst a wave of criticism and accusations from lawmakers, particularly Republicans, regarding the lack of explicit guidelines for cryptocurrencies falling under the SEC’s jurisdiction. One of
In a significant ruling on August 29, 2023, the United States Court of Appeals for the District of Columbia Circuit overturned a Securities and Exchange Commission (SEC) order, delivering a long-awaited victory to Grayscale Investments LLC in their lawsuit regarding the conversion of their Bitcoin Trust into a spot Bitcoin exchange-traded fund (ETF). The SEC
Recently, three influential U.S. representatives expressed their concerns regarding stablecoin and crypto rules proposed by the Federal Reserve. The lawmakers who objected to these rules are Patrick McHenry, Chairman of the House Financial Services Committee; French Hill, Chairman of the Committee on Financial Services Subcommittee on Digital Assets; and Bill Huizenga, Chairman of the Committee
Federal Reserve Chair Jerome Powell has expressed concerns about the robust growth of the U.S. economy and its potential impact on inflation. Speaking at the Jackson Hole Economic Symposium, Powell acknowledged the uncertainties surrounding the economic outlook and emphasized the need for further restrictive monetary policies to mitigate inflationary pressures. Despite a decline in inflation
U.K. regulators are cracking down on cold calls for consumer financial services, and the crypto sector is expected to be one of the industries affected. The initiative is part of the U.K. Treasury Fraud Strategy, which was introduced in May to combat fraudulent activities in the country. In a recent consultation paper published by His
Coinbase, one of the leading cryptocurrency exchanges, has made significant progress in its quest for regulation and transparency. The platform recently obtained regulatory approval from the National Futures Association (NFA) to operate as a Futures Commission Merchant (FCM). This is a crucial milestone in the evolution of crypto regulation in the United States. Breaking New