The Asia Pacific region (APAC) has undeniably solidified itself as a thriving environment for the rapidly expanding technology industry. With countries like Singapore, Hong Kong, Vietnam, and Japan leading the charge in innovation, APAC has demonstrated its prowess in technological creativity and advancement. From bustling tech hubs to financial powerhouses, APAC has consistently been at
Regulation
Grayscale has made a significant regulatory filing amendment to convert its Ethereum Trust to a spot exchange-traded fund (ETF). The latest filing, released on March 15, strengthens their previous submission in various ways. One key point of the update is that it argues surveillance sharing within the CME ETH market is adequate to safeguard against
The recent pushback from Senators Jack Reed and Laphonza Butler against the approval of non-Bitcoin crypto ETFs, particularly focusing on Ethereum, has put a spotlight on the challenges faced by the SEC in regulating these new investment products. The Senators highlighted concerns about the lack of trading volumes and market integrity in cryptocurrencies other than
It has come to light that the notorious North Korea-backed hacker group Lazarus has made a strategic shift in its money laundering tactics. Despite previous US government sanctions that led them to cease the use of the crypto mixer Tornado Cash, the group has resorted to utilizing it once again to obfuscate their transactions. This
Recently, Hong Kong’s Securities and Futures Commission (SFC) has raised concerns about Bybit, a virtual asset trading platform, for operating without the required licensing. The SFC issued a public warning on March 14, stating that Bybit had offered its products to investors in Hong Kong without proper authorization. Unlicensed Operations and Concerns The SFC highlighted
Tether, a stablecoin issuer, recently worked closely with the US Department of Justice and the FBI to seize $1.4 million USDT linked to a tech support scam network. The scam targeted vulnerable elderly individuals through deceptive pop-up ads, tricking them into thinking their devices had been compromised. Victims were then coerced into transferring their funds
The recent release of the Biden administration’s proposed budget for 2025 has sparked discussions among investors and experts alike. With provisions aimed at implementing regulatory measures targeting digital assets, the proposed budget is expected to have significant implications for the cryptocurrency industry. By addressing loopholes that have allowed wealthy crypto investors to benefit disproportionately, the
The recent ban imposed by Spain on Worldcoin’s data collection and usage has raised concerns over the company’s compliance with EU GDPR rules. Despite Worldcoin’s claims of being fully compliant with the EU’s data protection laws, Spanish regulators have accused the company of spreading inaccurate and misleading information globally. This lack of clarity surrounding the
The discussion around central bank digital currencies (CBDC) has been a hot topic globally, with various countries exploring the idea of a government-backed digital currency. US Federal Reserve Chair Jerome Powell recently addressed lawmakers regarding the Fed’s stance on CBDC during a Senate Banking Committee hearing on monetary policy. Powell emphasized the importance of privacy
The recent joint motion filed by the Securities and Exchange Commission (SEC) on March 5 has brought to light a series of allegations against Binance.US. The SEC claims that Binance.US has not adequately complied with regulatory requests for information on customer assets. The regulatory body alleges that the company’s inspections have been insufficient, critical questions
