The CEO of the cryptocurrency exchange Coinbase has encouraged decentralized finance (defi) protocols to fight regulators in court if they face regulatory crackdowns. He stressed that the Commodity Futures Trading Commission (CFTC) “should not be creating enforcement actions against decentralized (defi) protocols,” emphasizing that they are not financial service businesses. “The only thing this is…
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G20 leaders have called to swiftly implement the Crypto Asset Reporting Framework (CARF) while endorsing synthesis paper proposed by IMF and FSB. The G20 summit held over the weekend under the presidency of India saw a consensus among member nations to adopt a global framework to regulate cryptocurrencies. The CARF, a reporting template currently in…
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Taiwan is set to impose restrictions on offshore cryptocurrency exchanges operating within its jurisdiction unless they gain the required registration. The country’s Financial Supervisory Commission (FSC) has drafted ten guiding principles for virtual asset services providers (VASPs) to establish self-regulatory rules, according to a report by Taiwan’s semi-official Central News Agency…. Read More: Taiwan’s Crackdown: Offshore Crypto Exchanges Must Comply…
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In an exclusive interview with CryptoNews, OKX Global Chief Marketing Officer, Haider Rafique, expressed the company’s vision to target India’s “tech-savy” market. OKX, one of the largest crypto exchanges in terms of trading volume, currently does not offer any centralized finance products to Indian users. However, the company is looking to scale its general Web3…
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Senator Bill Hagerty (R-Tenn.) has said that the lack of regulatory clarity in the United States is creating an unfavorable environment, driving crypto companies outside the country. “It is a terrible environment. For those companies who are trying to invest and expand, it’s forcing them to look overseas to more favorable regulatory environments,” Hagerty said while addressing an audience…
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A joint synthesis paper from the International Monetary Fund (IMF) and the Financial Stability Board (FSB) on crypto regulations is set to be presented to G20 members during the leadership summit under India’s presidency on 9th and 10th September. The key policy paper, released on Thursday, acknowledges the challenges of enforcing a blanket ban on…
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The Financial Accounting Standards Board (FASB) in the United States has given unanimous approval to new accounting standards for disclosure of cryptocurrency holdings. The FASB, a non-governmental entity overseen by the U.S. Securities and Exchange Commission (SEC), introduced these rules in March, departing from the traditional practice of valuing cryptocurrency assets solely based on unrealized…
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Singapore’s newly elected president, Tharman Shanmugaratnam, had once called crypto “inherently purely speculative and slightly crazy”. With 70.4% of the vote, Shanmugaratnam has become Singapore’s 9th president, succeeding Halimah Yacob, the country’s first female head of state. However, to the relief of the crypto community, the President’s role in Singapore is mostly ceremonial. … Read More:…
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Bankrupt crypto exchange FTX’s Solana wallet has moved $10 million in altocoins to Ethereum network through the Wormhole bridge in the last 4 days, sparking fears of more token dumps in the market. In a filing submitted the previous month, FTX debtors proposed a structured approach to crypto sales so it does not affect the…
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A U.S. congressman has defended the crypto industry against Securities and Exchange Commission (SEC) Chairman Gary Gensler, who stated that it is rife with noncompliance. The lawmaker’s statement followed a pair of legal cases in which the judges sided with cryptocurrency firms over the securities regulator. ‘Crypto Is Not an Industry Rife With Noncompliance’ U.S.…
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