California has signed the Digital Financial Assets Law, raising concerns within the industry regarding the potential consequences of this legislation. On Friday, Governor Gavin Newsom signed the bill into law, aiming to regulate California’s cryptocurrency industry, which is home to nearly a quarter of the blockchain companies in North America…. Read More: California’s Crypto Regulation: Will It Push Firms Out? Read…
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Though the issuance of a digital euro is not a certainty, officials with the European Central Bank are moving to next phase of the project. The governing council of the European Central Bank (ECB) has announced it will begin the ”preparation phase” for the digital euro project following a two-year investigation. In an Oct. 18…
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The European Securities and Markets Authority (ESMA) is preparing to implement the Markets in Crypto-Assets Regulation (MiCA). The regulator has issued several crypto warnings that investors and users of crypto services providers should be aware of, particularly before MiCA is fully implemented. The regulator cautioned: “Even with the implementation of MiCA, retail investors must be…
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The European Central Bank (ECB) has decided to move its digital euro project to the next phase after two years of investigation. The “preparation phase” of the digital euro will involve “finalizing the digital euro rulebook and selecting providers that could develop a digital euro platform and infrastructure.” Digital Euro Proceeds to ‘Preparation Phase’ The…
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The U.S. Securities and Exchange Commission (SEC) has published its examination priorities for 2024 which include crypto monitoring and examinations. The securities regulator disclosed: “Examinations of registrants will focus on the offer, sale, recommendation of, advice regarding, trading in, and other activities in crypto assets or related products.” Division of Examinations’ 2024 Priorities The U.S.…
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Ohio Representative Jim Jordan, the Republican Party’s nominee for Speaker, won the support of 200 of his colleagues in an Oct. 17 vote — below the 217 needed to hold the position. North Carolina Representative Patrick McHenry, chair of the United States House Financial Services Committee and crypto proponent in Congress, is still temporarily in…
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The Bank of Canada published a staff analytical note that mirrors the development of decentralized finance (DeFi) alongside possible routes of wider market regulations. The staff note released on Oct 17 shows the development stages of the cryptocurrency market, its benefits, challenges facing traditional finance, risk, and possible impact on financial markets alongside regulations…. Read…
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Australia-based crypto exchanges may soon be required to hold a financial services license issued by the Australian Securities and Investments Commission. The Australian government expects to have the draft legislation ready in 2024. According to the proposals, crypto exchanges will be given a period of twelve months to comply with the new regulations. Protecting Consumers…
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The U.S. Federal Trade Commission (FTC) has warned consumers that crypto deposits are not insured by the Federal Deposit Insurance Corporation (FDIC). “That money isn’t FDIC insured or protected if the crypto company goes under,” the agency cautioned. “If something happens, the government may not have an obligation to step in and help get your…
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The order was unclear as to the nature of the documents under subpoena but stated Genesis had failed to provide the information by Oct. 9. A United States judge has approved an order requiring Genesis Global entities to produce certain documents in accordance with a subpoena requested by Terraform Labs. In an Oct. 13 filing…
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