In recent years, the Korean crypto industry has been plagued by devastating scandals, eroding investor confidence and creating a sense of urgency for regulatory intervention. On Dec. 11, the Korean Financial Services Commission (FSC) unveiled a comprehensive set of regulations under the Act on the Protection of Virtual Asset Users, signaling a new era of
Regulation
Senator Elizabeth Warren’s announcement of an expanded coalition of Senate support for the Digital Asset Anti-Money Laundering Act marks a significant development in the ongoing effort to regulate cryptocurrencies. The bipartisan bill aims to mitigate the risks of illicit finance posed by digital assets by bringing them into greater compliance with anti-money laundering frameworks. This
The European Union (EU) has made a significant breakthrough in the regulation of artificial intelligence (AI). After three days of negotiations, the European Council and the European Parliament have reached a provisional agreement on what is expected to be the world’s first comprehensive regulation of AI. This achievement has been hailed as a historical milestone
The U.S. Securities and Exchange Commission (SEC) recently met with Fidelity to discuss the firm’s spot Bitcoin ETF application. This meeting, which took place on December 7th, involved several members of the SEC’s Division of Corporate Finance as well as representatives from CboeBZX. The primary focus of the meeting was a proposed rule change that
The major cryptocurrency exchange Binance has withdrawn its application for certain operations in Abu Dhabi. This decision comes as a result of a request from the Abu Dhabi Global Market (ADGM), the regulatory body responsible for overseeing these operations. The request, which came into effect on November 15, 2022, was officially withdrawn by Binance on
Cryptocurrencies have been a subject of intense debate and scrutiny in recent years, with regulators worldwide grappling to establish a comprehensive framework for this emerging asset class. In New Jersey, Assemblyman Herb Conaway Jr. recently introduced a bill that seeks to categorize cryptocurrencies sold to institutional investors as securities. This article delves into the potential
Bitwise and BlackRock, two prominent asset managers, have recently submitted updated filings to the U.S. Securities and Exchange Commission (SEC) for their respective spot Bitcoin exchange-traded funds (ETFs). These filings come as a result of discussions between the SEC and ETF applicants, and they may address concerns raised during these talks. Increased Interest in Bitcoin
Terraform Labs, currently facing a securities lawsuit from the U.S. Securities and Exchange Commission (SEC), has recently filed a request for a summary judgment to conclude the case. The defense argues that the SEC misinterpreted facts in a separate case involving DEBT Box, pointing out the regulatory body’s misrepresentations. The presiding judge acknowledged the defense’s
In a recent development in the lawsuit against cryptocurrency firm Debt Box, U.S. District Judge Robert Shelby has expressed his dissatisfaction with the Securities and Exchange Commission (SEC)’s attorneys. According to court filings, Judge Shelby warned the SEC about possible sanctions for their “misleading” court proceedings in the case. This stern warning comes after the
The recent arrest of Alejandro Cao de Benos, a Spanish citizen, by the Spanish police has brought to light a case of alleged involvement in assisting Ethereum developer Virgil Griffith in violating U.S. sanctions and traveling to North Korea. The incident has sparked international interest and raises questions about the role individuals play in bypassing
