The majority of crypto companies attracted by the once favorable Estonian regulations have either abandoned or lost their licenses. According to the latest numbers released by the Baltic nation’s anti-money laundering bureau, only 100 businesses are currently authorized to provide digital-asset services. Most Estonian Licenses for Provision of Crypto-Related Services Expire A total of 389…
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The European Union’s Markets in Crypto-Assets regulation could stifle innovation and increase compliance costs for the crypto industry. The European Union has become the first major jurisdiction to pass a comprehensive crypto law, the Markets in Crypto-Assets (MiCA) regulation, which aims to provide legal certainty for the crypto industry and investors by establishing standard regulations…
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Lawmakers on both sides of the aisle seem to be reaching some sort of agreement on the need for legislation to regulate cryptocurrency. Rep. French Hill, R-Ark., said his Democratic colleagues have told him they have supported “commonsense legislation for months.”… Read More: US House Lawmakers on Both Sides Seemingly Agree on Need for Crypto…
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The US Chamber of Commerce backed Coinbase’s request for the US Securities and Exchange Commission to write rules for cryptocurrency in a recent court filing. The Chamber, which is the world’s largest business organization, said no one knows for certain which digital assets are securities under federal law…. Read More: US Chamber of Commerce Backs…
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Gabriel Makhlouf, the Governor of the Central Bank of Ireland, has likened unbacked cryptocurrencies to a “Ponzi scheme” while noting that “crypto is not going away very soon.” In a Friday blog post, Makhlouf stated that Ireland’s Central Bank differentiates between ‘backed’ and ‘unbacked’ crypto. … Read More: Ireland’s Central Bank Governor Labels Unbacked Cryptos as…
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Over 1,000 human trafficking victims were recently rescued from a “fraud factory” in Mabalacat, a town located nearly 90 kilometers northwest of Manila, Philippines law enforcement has said. Michelle Sabino from the Philippine National Police Anti-Cybercrime Group said trafficking victims use social media platforms such as Facebook to lure unsuspecting individuals. Cryptocurrency Scams According to…
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Companies attracted by the plan to turn Hong Kong into a hub for digital assets should expect strict regulations, the region has indicated. Authorities are preparing new licensing rules for service providers working with cryptocurrencies and guidelines for banks interacting with crypto firms. Crypto Hub Hong Kong Has No Intentions to Adopt ‘Light-Touch’ Regulations Hong…
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Top legal officers and a former regulator are slated to testify in front of US congressional committees on Wednesday to unpack digital asset regulation following ongoing tension between the industry and federal agencies. The House Financial Services Subcommittee on Digital Assets, Financial Technology and Inclusion together with the House Agriculture’s Commodity Markets, Digital Assets and…
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Coinbase’s chief legal officer called a newly proposed US rule tightening cryptocurrency custody requirements “misguided” and said some parts need to be changed. The Securities and Exchange Commission rule was proposed in February and would require registered investment advisers to keep crypto with a qualified custodian, which would mandate certain requirements such as segregating investors’…
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A former Coinbase product manager was sentenced to two years in prison in a one-of-a-kind insider trading case. Ishan Wahi, 32, of Seattle, Washington, was sentenced by U.S. District Judge Loretta A. Preska on Tuesday for providing Coinbase’s confidential information about upcoming crypto listings to his brother and his friend to then make profitable trades. ……
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