Australia-based crypto exchanges may soon be required to hold a financial services license issued by the Australian Securities and Investments Commission. The Australian government expects to have the draft legislation ready in 2024. According to the proposals, crypto exchanges will be given a period of twelve months to comply with the new regulations. Protecting Consumers…
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Attitudes toward crypto in Hong Kong have taken a hit, as a new survey reveals a growing aversion to virtual assets in the aftermath of the JPEX scandal. This shift in sentiment poses significant challenges to Hong Kong’s aspirations to establish itself as a global hub for the cryptocurrency industry…. Read More: JPEX Scandal Undermines…
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The U.S. Securities and Exchange Commission (SEC) released its fiscal plan for 2024 today, detailing a heightened regulatory focus on cryptocurrency and associated financial technologies. This report comes from the SEC’s Division of Examinations and outlines the agency’s approach to emerging market risks…. Read More: SEC Announces Increased Oversight of Cryptocurrencies in 2024 Fiscal Plan…
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Crypto firms that operate in Cyprus without registration may soon be fined as much as $350,000 while individuals behind such firms could face up to five years in jail. The Finance Ministry says its proposals, which are included in a draft recently submitted to parliament, seek to align the country’s laws with the standards set…
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South Korea’s virtual asset market has experienced a significant surge during the first half of 2023, reaching a total market cap of $21.1 billion. The Financial Services Commission (FSC) of South Korea revealed that the country’s crypto market cap witnessed a 46% increase compared to the previous half-year term, local media outlets reported. … Read More:…
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The Basel Committee on Banking Supervision has unveiled a new plan that will require banks to disclose their cryptocurrency holdings. This development comes on the heels of a tumultuous year that witnessed the collapse of several major crypto firms as well as crypto-focused lenders Signature and Silicon Valley Bank…. Read More: New BIS Plan Mandates…
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On October 4, the Securities and Futures Commission (SFC) of Hong Kong, in collaboration with the Hong Kong Police, announced the formation of a special group to monitor and investigate crimes related to crypto exchanges. The initiative was prompted by the ongoing controversies surrounding the JPEX exchange, a leading Hong Kong crypto entity based in…
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Hong Kong’s troubled crypto exchange JPEX has announced plans to move forward with its DAO Stakeholder Dividend Plan. This decision comes amid the ongoing investigation into the financial scandal worth over HK$1.5 billion ($191 million) and the arrest of multiple suspects associated with the platform. The unfolding scandal first came to light when Hong Kong’s…
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Valr, the South Africa-based crypto exchange, recently said it had won initial approval from the Dubai virtual assets regulator. The crypto exchange’s Head of Growth, Blake Player, said Valr has been attracted by the Middle East region’s significant crypto flows and in particular Dubai’s growing reputation “as a forward-thinking and pragmatic jurisdiction.” Valr Cannot Offer…
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The Brazilian Securities and Exchange Commission (CVM) has opened the doors for investment funds to invest in cryptocurrency. Resolution 175, drafted last year and coming into effect on October 2, defines the rules these institutions must follow to invest in crypto, with analysts predicting a rise in interest in the sector. Brazilian CVM Resolution 175…
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