Two South Korean lawmakers have called for a full investigation into the KOK token after its value collapsed to almost zero. Victims have accused Korea’s largest newspaper of promoting the scam, sparking concerns about its role. The alleged cryptocurrency fraud has caused an estimated $3 billion in losses, affecting about 1.86 million investors worldwide. Korean…
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Following President Joe Biden’s veto of the resolution to overturn the U.S. Securities and Exchange Commission (SEC)’s controversial crypto rules in SAB 121, U.S. lawmakers in both the Senate and House of Representatives have intensified their efforts to pass the landmark crypto bill, the Financial Innovation and Technology for the 21st Century (FIT21) Act. ‘Senate…
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Forty-eight U.S. lawmakers have sent a letter to U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler asking him to clarify whether ether is a security. “The negative repercussions of the SEC implicitly or directly classifying ETH as a digital asset security will cascade throughout the digital asset marketplace both in the short and long…
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Brazilian lawmakers make moves to include cryptocurrencies in the list of debtors-protected assets on behalf of creditors following their recognition as tradable property. In recent months, Brazil has embarked on a major change to reduce the seizures of debtors’ assets which is meant to settle their creditors…. Read More: Brazil Debates Bill To Protect Debtors’…
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Lawmakers in Slovakia have adopted legislation that will reduce the tax burden for cryptocurrency holders in the country. Income derived from long-term investments in digital assets will also be relieved from healthcare taxes, the parliamentarians decided. Investors in Slovakia to Pay 7% Tax on Income From Crypto Held More Than a Year Members of the…
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A member of the eurozone is amending its constitution in order to guarantee citizens the right to cash payments. The move comes amid growing fears that a digital version of the common European currency may eventually become the only means of payment in the eurozone, despite currently being touted as merely an alternative. Lawmakers in…
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The agreement came on the back of “good faith, arm’s length negotiations” with FTX’s debtors, the museum said. The Metropolitan Museum of Art is set to return $550,000 in donations it received from crypto exchange FTX prior to its collapse in November. The New York-based museum confirmed its intention to repay the funds to FTX…
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A new bill requiring South Korean lawmakers to disclose their cryptocurrency holdings has been proposed in Seoul. The legislative initiative comes amid a snowballing scandal surrounding the crypto dealings of an opposition lawmaker whose case has been referred to the parliamentary ethics committee. New Legislation to Introduce Crypto Reporting Requirements for South Korean Parliamentarians Representatives…
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After the second largest bank failure in history, the U.S. Securities and Exchange Commission (SEC) is reportedly investigating First Republic Bank executives for allegedly engaging in insider trading. Two sources have claimed that the securities regulator is scrutinizing the bank’s executives for making trades using confidential information. Although the sources have not named any specific…
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Members of the European Parliament gave their final approval to a package of EU-wide regulations for crypto assets. The legislators also backed the introduction of mechanisms allowing the tracing of cryptocurrency transactions which will also apply to private crypto wallets above a certain threshold. European Lawmakers Endorse Groundbreaking Crypto Assets Legislation Europe’s new common rules…
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