U.K. regulators are cracking down on cold calls for consumer financial services as part of the country’s efforts to curb fraudulent activities. This is a significant development that will undoubtedly impact various industries, including the crypto sector. The U.K. Treasury Fraud Strategy, introduced in May, aims to protect consumers from scams and manipulation. The government
Regulation
In a recent development, the U.S. Securities and Exchange Commission (SEC) has filed charges against John DeSalvo, the creator of a minor cryptocurrency known as Blazar Token. DeSalvo, a former State Correctional Police Officer in New Jersey, allegedly raised $620,000 from 220 investors before the token collapsed in May 2022. This article aims to shed
PayPal recently announced that it will be temporarily pausing its cryptocurrency buying services in the United Kingdom (UK) starting from October 1, 2023. The service is expected to resume in early 2024, although the exact date has not been specified. This means that users will be unable to purchase cryptocurrencies during this period. However, PayPal
Bloomberg’s Senior ETF Analyst Eric Balchunas recently highlighted that the Securities and Exchange Commission (SEC) could unveil a momentous decision concerning Grayscale Investments. This decision is expected to have significant implications for the approval of Bitcoin exchange-traded products (ETPs), capturing the attention and interest of industry players. Grayscale Investments challenged the SEC’s refusal to approve
The Securities and Exchange Commission (SEC) has been hesitant in approving a Bitcoin spot exchange-traded fund (ETF) due to significant regulatory concerns. This article explores the reasons behind the SEC’s reluctance, including the prevention of fraud and investor protection. Moreover, the article delves into the impact of partisanship within the SEC, the potential influence of
U.S. Senator Cynthia Lummis has filed an amicus brief in support of Coinbase’s motion to dismiss the U.S. Securities and Exchange Commission (SEC) lawsuit. In her brief, Senator Lummis highlights the ongoing debates in Congress regarding crypto regulation and argues that it is the responsibility of Congress, not the SEC, to develop appropriate regulations for
Democratic Congresswoman and House Financial Services Committee Ranking Member, Maxine Waters, has expressed her strong criticism towards PayPal’s stablecoin. Waters raised concerns about the launch of a stablecoin by PayPal, particularly emphasizing the absence of a Federal framework for the regulation, oversight, and enforcement of such digital assets. She argued that Federal oversight and enforcement
Bitstamp, a popular cryptocurrency exchange, recently announced that it would be halting U.S. trading for several cryptocurrencies. The decision comes in response to recent cases against other major exchanges, namely Binance and Coinbase, where certain cryptocurrencies were declared securities by the U.S. Securities and Exchange Commission (SEC). This move by Bitstamp highlights the increasing regulatory
The Hong Kong Securities and Futures Commission (SFC) has recently issued a strong warning to virtual asset trading platforms (VATPs) involved in fraudulent practices and non-compliant activities. This move emphasizes the potential legal and regulatory consequences that VATPs may face if they fail to adhere to the new regulations set by the SFC. With the
Despite facing early regulatory challenges across multiple jurisdictions, Worldcoin announced that the demand for its global World ID verifications has doubled during the first week since its launch. This surge in demand can be attributed to the release of new Orbs worldwide. Prior to its launch, Worldcoin had already attracted more than 2 million registrations,