The warning comes in response to Bybit’s marketing campaign that reportedly targeted Japanese investors. Singapore-based Bybit, the world’s fifth-largest cryptocurrency derivatives exchange by trading volume, has allegedly been running unregistered crypto services in Japan, according to an official warning. The Japan Financial Services Agency issued a formal warning letter to Bybit stating that the firm is…
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The world of cryptocurrency shares a similar template to the emergence of the World Wide Web back in the 1990s. This year marks the 30th anniversary of the first web page on the World Wide Web, which means a person has to be nearly half a century old to clearly remember the patchwork progress, the…
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After some confusion, South Korea’s government has laid out which state and regulatory bodies are charged with the oversight of various aspects of crypto-related activities. Over the past year or so, the crypto community in South Korea has had to adapt to a suite of new regulations and government frameworks tailored to the growing industry.…
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Multiple efforts to ban Bitcoin couldn’t stop the largest cryptocurrency from becoming a $1-trillion asset earlier this year. While Bitcoin (BTC) increasingly falls under the scrutiny of regulators worldwide, Ark Investment founder and CEO Cathie Wood is confident that regulators will be unable to shut down the world’s largest cryptocurrency. Wood said that Bitcoin is “already…
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Only five crypto firms have received FCA AML registration after the authority became the official money laundering supervisor for crypto businesses last year. Cryptocurrency businesses in the United Kingdom have been struggling to meet Anti-Money Laundering standards set by the Financial Conduct Authority, according to a senior official. John Glen, a member of U.K. parliament…
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Hong Kong citizens are using a blockchain system to fight back against the government’s attempts to erase and overwrite the history of recent years’ anti-authoritarian struggles. Blockchain’s potential to sustain a distributed, tamper-proof infrastructure for collective digital memory has taken on an unexpected political salience for citizens in Hong Kong. Soon after Hong Kong’s public…
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Canada’s OSC continues to take action against allegedly non-compliant cryptocurrency trading platforms after announcing new compliance measures in March. Canadian securities regulators have initiated a regulatory action against major global cryptocurrency exchange Poloniex. On Tuesday, the Ontario Securities Commission published a statement of allegations against Polo Digital Assets, also known as Poloniex, alleging that the firm…
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This is the third time Rep. Emmer has introduced the bill to the House of Representatives, but the first with a Democrat in the presidency. Minnesota Rep. Tom Emmer has reintroduced a bill aimed at preventing the IRS from imposing penalties or fees on crypto taxpayers with forked assets. In an announcement from Emmer on…
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Iran is fighting against unauthorized crypto mining amid ongoing energy supply shortages. The Iranian government continues to closely monitor the cryptocurrency mining industry by initiating new measures against home crypto miners, according to a new report. Mostafa Rajabi, a spokesperson for Iran’s Ministry of Energy, said that crypto mining with household electricity is not legal…
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Emerging technology such as blockchain can change the world for the better, but regulation and innovation must work in tandem. There is often a perceived tension between regulation and innovation. A pervasive narrative has emerged that these two important parts of our society are at odds with each other. In reality, it’s when these two…
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