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
