Paxos, a provider of blockchain and tokenization infrastructure, has recently received preliminary approvals from the Financial Services Regulatory Authority (FSRA) of Abu Dhabi. The company stated that these endorsements are crucial steps for Paxos, enabling it to issue stablecoins pegged to the U.S. dollar and introduce crypto brokerage and custodial services in the Abu Dhabi…
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Crypto exchange Binance is not a registered corporation in the Philippines hence its activities in the country are not above board, the Asian country’s securities regulator has said. The regulator warned of a possible jail term for individuals found enabling Binance’s activities in the Philippines. Licensed Overseas Organizations Still Need to Get Local Approval According…
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Former U.S. Securities and Exchange Commission (SEC) Chairman Jay Clayton has discussed what he believes to be the “appropriate way” to regulate crypto. The former regulator added that “the classification issues” about whether a crypto token is a security or a commodity are “overblown,” emphasizing: “Most of those decisions are pretty easy.” Ex-SEC Chair Discusses…
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The trading firm and its CEO, Kanav Kariya, allegedly manipulated the price of TerraUSD to gain roughly $1.3 billion in profits. A federal judge has accepted materials from Jump Crypto Holdings in discovery for the United States Securities and Exchange Commission’s case against Terraform Labs. In a Nov. 28 filing in the U.S. District Court…
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The settlement between the crypto lending firm and the FTC was first announced in October and does not resolve former CEO Stephen Ehrlich’s pending case with the CFTC. A federal judge has approved an order requiring crypto lending firm Voyager Digital and its affiliates to pay $1.65 billion in monetary relief to the United States…
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Source: AdobeStock / Vitalii Vodolazskyi Get your daily, bite-sized digest of crypto and blockchain-related news – investigating the stories flying under the radar of today’s news. __________ Regulation news Hong Kong authorities may give regulators more power to fight cryptocurrency scams and will consider measures to take, such as using laws targeting money laundering, the…
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Source: AdobeStock / Diego Get your daily, bite-sized digest of crypto and blockchain-related news – investigating the stories flying under the radar of today’s news. __________ Market news Contrasting with the crisis experienced by exchanges like FTX, Binance has demonstrated greater resilience in its net flows, according to digital asset data provider CCData. During the…
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Despite regulatory action against Binance, a surge in Ethereum network activity and the expectation of a spot ETF approval fueled a price move above $2,000. Ether (ETH) price is trading slightly higher on Nov. 23, maintaining support above the $2,000 level after briefly retesting $1,930 on Nov. 21. Over the past week, Ether’s price has…
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Consensys senior counsel and director of global regulatory matters Bill Hughes spoke at the North American Blockchain Summit on crypto bills and their role in politics. Amid ongoing campaigns for the elections in 2024, many United States lawmakers have not sealed the deal on legislation aimed at establishing regulatory clarity on aspects of the digital…
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European Commission policy officer Ivan Keller highlights high-profile centralized exchange shortcomings as key reasons for the implementation of MiCA regulations in Europe. The collapse of FTX in 2022 and Binance’s recent $4.3-billion settlement with United States authorities provide a strong argument for the provisions of the European Union’s Markets in Crypto-Assets (MiCA) legislation, a European…
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