According to a July 4, 2023 press release from the Danish Financial Supervisory Authority, Denmark’s Saxo Bank has been instructed to liquidate its holdings of cryptocurrency assets. The financial regulator maintains that Saxo Bank’s portfolio of crypto assets falls “outside the legal business area of financial institutions” and is in violation of the country’s Financial…
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The United Kingdom’s Financial Conduct Authority (FCA) has issued a warning to all crypto asset firms operating in the country, reminding them to ensure marketing compliance by the October deadline. According to a letter dated July 4, the FCA has stated that starting from October 8, crypto companies marketing to users in the UK must be in compliance with…
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Mark Cuban, a Shark Tank star and owner of the NBA team Dallas Mavericks, has slammed the U.S. Securities and Exchange Commission (SEC) for taking a wrong approach to regulating the crypto industry. “The SEC is not infallible. It makes mistakes,” the billionaire stressed, adding that if the SEC had taken a similar approach to…
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The Bitcoin futures premium surge is having traders ask whether this is excitement or a return to the average after a multimonth bear market. The Bitcoin futures premium reached its highest level in 18 months on July 4. But traders are now questioning whether the derivatives metrics indicate “excessive excitement” or a “return to the mean”…
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The U.S. Securities and Exchange Commission’s (SEC) former head of internet enforcement has called the creation of a central bank digital currency (CBDC) “the most absurd financial idea in the history of monetary policy.” He warned that a central bank digital currency not only creates “a multitude of unnecessary risks relating to global financial systemic…
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Hopes that China’s anti-crypto stance could soon change have been crushed by the appointment of a known crypto-critic as the Communist Party’s top official at the People’s Bank of China (PBoC). According to a recent Wall Street Journal report, the Party’s new appointee to the Chinese central bank is Pan Gongsheng, the bank’s current deputy…
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Following a third reading in the House of Lords, the Economic Crime and Corporate Transparency Bill will return to lawmakers to consider changes before being signed into law. Lawmakers in the upper house of the Parliament of the United Kingdom are moving forward with legislation aimed at expanding authorities’ ability to target cryptocurrencies used for…
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Companies operating in the U.K. will have only “four routes to lawfully communicate cryptoasset promotions” in order to be in compliance with the FCA’s regime. The United Kingdom’s Financial Conduct Authority, or FCA, has announced that all crypto asset firms marketing to users in the country must be in compliance with its financial promotions regime…
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According to Thailand’s securities regulator, digital asset service providers will be required to warn prospective investors of the risks that come with trading or investing in cryptocurrencies. The guidelines also state that starting on Aug. 30, 2023, digital asset business operators will be barred from “providing services or supporting deposit-taking [and] lending services.” The Crypto…
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