Regulations – Ƀitsell X

Queensland’s CCC Aims to Modernize Confiscation Laws to Facilitate “Effective” Seizure of Crypto Assets

April 10, 2024

Queensland’s Crime and Corruption Commission (CCC) has identified gaps in state laws that inadvertently encourage criminal use of digital assets, prompting the agency to propose a modernization of Queensland’s asset confiscation laws. In a 54-page report, the CCC expressed concerns about the effectiveness of Queensland’s Criminal Proceeds Confiscation Act 2002 (CPCA) in seizing cryptocurrencies linked to…
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Report: Election Concerns Halt South Korea’s Crypto and ETF Regulation Ease

March 1, 2024

South Korea has delayed its efforts to relax its crypto regulations and the prohibition on spot bitcoin exchange-traded funds (ETFs). This development follows closely behind the People Power Party’s contemplation of removing certain regulations and the ETF ban before the commencement of South Korea’s general election. South Korea Holds Back on Crypto Regulation and Reported…
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New York’s Bar Association Seeks Law Reform to Keep Crypto Market Lead

January 30, 2024

New York City’s Bar Association has pitched an amendment to the law relating to emerging technologies aiming to see the city maintain its crypto market lead. The proposals on several issues were contained in its New York’s state Legislative Agenda released on Jan 29. The Bar seeks to amend lawsuits ranging from financial activities to…
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IMF Head Urges For Clear Rules and Infrastructure to Curb Crypto Risks

December 14, 2023

Source: iStock Kristalina Georgieva, the managing director of the International Monetary Fund (IMF), addressed ways to curb cryptocurrency risks on financial stability. Georgieva stressed that crypto assets need to be regulated with clear rules and infrastructure. Speaking at an international conference in Seoul on digital money, she warned that these asset classes could undermine macro-financial…
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Binance and CZ Settle With the DOJ and Other Federal Agencies

December 6, 2023

On November 21, 2023, the Commodity Futures Trading Commission (CFTC), the Department of Treasury’s Finance Crimes Enforcement Network (FinCEN), its Office of Foreign Assets Control (OFAC), and the Department of Justice (DOJ) all settled charges against Binance, the world’s largest cryptocurrency exchange, and its Chief Operating Officer, Changpeng Zhao (CZ). The settlement concerned a variety…
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SEC Postpones Verdict on Global X Spot Bitcoin ETF, Cites Market Manipulation Concerns and Need for Public Insight

November 18, 2023

The U.S. Securities and Exchange Commission (SEC) has postponed its decision on the Global X Bitcoin Trust’s application to list a spot bitcoin exchange-traded fund (ETF). The delay, announced on November 17, 2023, marks a continued period of uncertainty in the spot bitcoin ETF space. Global X Spot Bitcoin ETF Delayed by SEC The Global…
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The Alameda gap and crypto liquidity crisis explained

November 7, 2023

The November 2022 Alameda gap exposed vulnerabilities in the crypto market, shedding light on FTX and Alameda Research’s fraud. FTX collapse: Unraveling the cryptocurrency crisis of November 2022 In November 2022, the cryptocurrency world was rocked by the collapse of FTX, one of the largest cryptocurrency exchanges. The collapse was triggered by a liquidity crisis…
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Senator Lummis Takes a Stand Against SEC’s Crypto Crackdown, Says the Commission is “Overreaching”

November 6, 2023

Source: Adobe Senator Cynthia Lummis (R-Wyo.) has voiced opposition to the Securities and Exchange Commission’s ongoing crackdown on the cryptocurrency industry. In an interview with Yahoo Finance, she expressed her concerns about the regulatory agency’s actions and vowed to block one of its controversial new crypto policies. “I think the SEC is overreaching,” she said.…
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Paypal Achieves FCA Registration in the UK, Paving the Way for Crypto Services Resumption in 2024

November 2, 2023

The payments giant Paypal has successfully achieved registration with the Financial Conduct Authority (FCA) in the United Kingdom, a fact verified by the FCA’s website on October 31. This move comes shortly after Paypal’s temporary cessation of crypto purchases within the U.K., although the company pledged to reinstate these services at the start of 2024.…
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UK Issues Over 200 Alerts Against Crypto Firms Allegedly Breaking Promotion Rules

October 27, 2023

Britain’s Financial Conduct Authority (FCA) has issued hundreds of alerts regarding companies “illegally promoting crypto assets to U.K. consumers.” The regulator also highlighted several “common issues” with crypto promotions it has identified since it imposed stricter marketing rules earlier this month. U.K.’s Financial Watchdog Vows to Remove ‘Illegal’ Crypto Marketing Content Businesses that wish to…
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