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
Regulation
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
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
The cryptocurrency industry is eagerly awaiting a potentially momentous decision from the Securities and Exchange Commission (SEC) regarding Grayscale Investments. This decision, expected to be announced in the coming days, could have significant implications for the approval of Bitcoin exchange-traded products (ETPs). All eyes are on Blackrock’s recent filing, along with other asset managers, adding
Bitstamp, a popular cryptocurrency exchange, has recently announced its decision to halt U.S. trading for several cryptocurrencies due to increasing regulatory concerns. The company revealed that it would be blocking U.S. users from trading Axie Infinity (AXS), Chiliz (CHZ), Decentraland (MANA), Polygon (MATIC), Near Protocol (NEAR), The Sandbox (SAND), and Solana (SOL). These delistings come
The Federal Reserve Board has taken a significant step towards regulatory oversight of rapidly advancing technologies within the banking sector with the creation of the Novel Activities Supervision Program. This program aims to oversee complex partnerships with non-banks, crypto-asset-related activities, distributed ledger technology, and concentrated provision of banking services to crypto-asset-related entities and fintechs. By
Worldcoin, a global World ID verification project, has recently claimed that its demand doubled during the first week of its launch. Despite the initial regulatory challenges it faced across multiple jurisdictions, the release of new Orbs worldwide contributed to the surge in weekly verifications. This growth adds to the already high verifications rate the project
Binance, the leading digital asset exchange, has made history by becoming the first exchange to receive an Operational Minimum Viable Product (MVP) license from Dubai’s Virtual Assets Regulatory Authority (VARA). This achievement is particularly significant as Binance faces regulatory challenges in various European countries. With the Operational MVP license, Binance FZE, the Dubai subsidiary, can
