People in Turkey have been seeking refuge in stablecoins as their national fiat continues to depreciate against the greenback. The Turkish lira saw a record drop in its exchange rate with the U.S. dollar when the country’s central bank halted intervention after the recent presidential vote. Turkish Investors Seek Safe Haven in Stablecoin Tether Despite…
Read more
Hong Kong fosters a favorable environment for industry growth with its proactive regulation and dedication to becoming a digital hub. Touting its progressive stance on cryptocurrencies, a Hong Kong legislator has invited Coinbase and other crypto exchanges to establish operations in the region. Legislative Council member Johnny Ng took to Twitter to express support and assistance…
Read more
The regulatory framework will allow individuals and companies to own and trade digital assets in the United States. United States Senator Cynthia Lummis has said her efforts to push for a positive crypto regulatory framework are still in motion, with the rapid evolution and increasing adoption of cryptocurrencies adding to its urgency. Lummis received praise from…
Read more
BEUC, the European Consumer Organization, has urged Brussels to clamp down on the promotion of crypto assets on social media. The umbrella group calls for implementing stricter advertising rules on major platforms like Twitter and Tiktok as well as preventing influencers from misleading investors. BEUC Complains About Promotion of Risky Crypto to European Consumers on…
Read more
The CEO of Btc. x mentioned the possibility of governments deeming the MiCA framework inadequate, leading to a two-sided power dynamic. Christian Anders, the CEO of Btc. x has said that despite the Markets in Crypto Assets (MiCA) being signed into law, the European Union (EU) might need to do a lot of more lobbying…
Read more
The legislation aims to enhance fiscal transparency, boost revenue and recognize cryptocurrencies as legitimate assets. On the eve of his departure from office on May 28, former Nigerian President Muhammadu Buhari signed the Finance Act, 2023, into law. The act introduces a series of tax reforms aimed at modernizing the country’s fiscal framework. Among its provisions…
Read more
Businesses marketing crypto assets to U.K. consumers will have to abide by stricter advertising rules presented by the country’s financial watchdog. These include prohibiting ‘refer a friend’ bonuses for the industry as well as introducing a cooling-off period for first time investors. Regulator Clamps Down on Crypto Ads, Wants to Make Risks Clearer to British…
Read more
The Binance CEO is rumored to be in Dubai, but with no known base of operations, the SEC wants permission to serve his lawyers on his behalf. The United States Securities and Exchange Commission (SEC) is seeking ‘alternative service’ from the U.S. District Court in Washington, D.C., to issue a legal summons to Changpeng Zhao,…
Read more
MiCA, which comes fully into force by the end of 2024, aims to create a consistent regulatory framework for crypto assets among European Union member states. On June 9, the European Union’s Markets in Crypto-Assets (MiCA) legislation was published in the Official Journal of the European Union (OJEU). This triggers the countdown for the law to come…
Read more
Commonwealth Bank of Australia plans to restrict payments to crypto trading platforms, citing the threat of scams. The measure would deal another blow to digital asset exchanges operating in the country where it has been getting harder to deposit funds for cryptocurrency operations. Crypto Traders in Australia to Face Another Restriction on Fiat Deposits Australia’s…
Read more
