Crypto firms that operate in Cyprus without registration may soon be fined as much as $350,000 while individuals behind such firms could face up to five years in jail. The Finance Ministry says its proposals, which are included in a draft recently submitted to parliament, seek to align the country’s laws with the standards set…
Read more
The European Securities and Market Authority (ESMA) has released a report on the development of decentralized finance (DeFi) and the risk posed by growing adoption. In a report released on Oct 11, the 22-page document highlights the risks posed by a sector that holds much promise and reshaped finance in the region…. Read More: EU’s…
Read more
The cryptocurrency industry has been grappling with major challenges, including the collapse of FTX, fraud allegations, and the fall of some other high-profile companies. This has created a need for legal and compliance professionals in the crypto sector, particularly due to the growing regulatory scrutiny and the industry’s tarnished reputation…. Read More: Rebuilding Reputation: Crypto Industry…
Read more
Lawmakers are scheduled to return to the House of Representatives on Oct. 11 to vote on a replacement for Speaker Kevin McCarthy, whose position has been vacant for a week. At the time of publication, half of the legislative branch of the federal government of the United States was largely paralyzed following a vote ousting…
Read more
Reports have suggested the former CEO of Alameda Research and SBF had largely been out of contact following the collapse of FTX in November 2022. Former FTX CEO Sam “SBF” Bankman-Fried watched from the defense table as his former business associate and girlfriend, Caroline Ellison, testified at his criminal trial. According to reports from the…
Read more
The Financial Conduct Authority’s marketing requirements for crypto firms went into effect on Oct. 8, requiring some to partner with local companies for compliance. The Financial Conduct Authority (FCA) of the United Kingdom has placed restrictions on peer-to-peer lending platform Rebuildingsociety, the firm with which crypto exchange Binance partnered for compliance with the regulator’s marketing…
Read more
The former CEO of crypto exchange FTX also reportedly explored paying off Donald Trump from running for U.S. president again. Former FTX CEO Sam “SBF” Bankman-Fried had ambitions to become president of the United States, according to his former girlfriend and business associate Caroline Ellison. Appearing in court on Oct. 10 to testify against Bankman-Fried,…
Read more
British financial regulator, the Financial Conduct Authority (FCA), has issued 146 crypto promotion alerts in the first 24 hours of its new crypto marketing regime. “We expect businesses including social media platforms, app stores, search engines, domain name registrars, and payments firms to consider the alerts we have issued and play their part in protecting…
Read more
Daniel Maeda with Brazil’s CVM said during Rio Innovation Week the regulator plans to explore a regulatory sandbox for use cases of tokenization potentially starting in 2024. The Comissão de Valores Mobiliários (CVM) of Brazil is planning to start a second regulatory sandbox program in 2024. Speaking at Rio Innovation Week on Oct. 4, the…
Read more
Crypto lawyers are seemingly divided over the significance of a court order to dismiss the SEC’s motion. On Oct. 3, United States District Court Judge Analisa Torres rejected the U.S. Securities and Exchange Commission’s (SEC’s) motion to appeal its loss against Ripple Labs, the company behind the XRP (XRP) cryptocurrency. Torres denied the SEC’s motion,…
Read more
