The U.K. Parliamentary Treasury Committee has issued a stern warning about the development of a retail central bank digital currency (CBDC), or ‘digital pound,’ and its potential hazards to financial stability. While the Bank of England and H.M. Treasury have both acknowledged the future need for a digital pound, lawmakers remain cautious and urge thorough
Regulation
Spanish police have recently made an arrest in connection with Ethereum developer Virgil Griffith’s violation of U.S. sanctions and travel to North Korea. The individual in question is Alejandro Cao de Benos, who was found to be in Barcelona under a false identity and was subsequently apprehended at a train station in Madrid. In this
Circle, a leading stablecoin company, has vehemently denied allegations linking it to terrorist financing. In a letter addressed to Senators Sherrod Brown and Elizabeth Warren, Circle’s Chief Strategy Officer and Head of Global Policy, Dante Disparte, refuted the claims made by the Campaign for Accountability (CfA) that the company’s USDC stablecoin was involved in crypto
Hong Kong, known for its thriving financial sector, is considering revolutionary changes to its digital asset approach. In a recent letter, Mr. Chen Zhihua, President of the Hong Kong Securities and Futures Association, proposed the introduction of an “Initial Coin Offering (ICO) mechanism” in Hong Kong. This suggestion, among others, is seen as a potential
In a recent development, an American court has granted permission to Jump Crypto, identified as a “third party” in the ongoing Securities and Exchange Commission (SEC) case against Terraform Labs, to submit certain information confidentially. This ruling comes as part of the SEC’s lawsuit against Terraform Labs and its founder, Do Kwon, accusing them of
The Spanish Tax Administration Agency, Agencia Tributaria, has announced new regulations regarding the reporting of cryptocurrency holdings for tax purposes. Starting in January next year, Spanish citizens will be required to disclose their crypto assets held on foreign platforms if the value exceeds 50,000 euros (about $55,000). This move is part of Spain’s ongoing efforts
Hong Kong’s financial regulators have made a controversial decision to maintain the grace period for cryptocurrency firms operating in the city, despite recent high-profile fraud scandals. This grace period, which allows crypto firms to continue business without a license until June 2024, was originally introduced to provide sufficient time for compliance with new regulatory standards.
Wallet of Satoshi, a popular wallet for use with Bitcoin’s Lightning Network, recently made an announcement that shook the cryptocurrency community. On November 24, the company declared the termination of support for U.S. users. This decision has raised speculations regarding the underlying reasons and potential regulatory implications. In their announcement, Wallet of Satoshi acknowledged the
The U.K. is taking a significant step toward revolutionizing the investment sector by officially authorizing funds to develop tokenization. This project aims to enhance efficiency, transparency, and competitiveness within the industry, according to a press release by The Investment Association. The initiative is a collaboration between the Technology Working Group of the government’s Asset Management
The Monetary Authority of Singapore (MAS) recently announced expanded regulations aimed at safeguarding retail crypto users from potential risks in the industry. With the cryptocurrency market rapidly growing, the financial regulator has directed Digital Payment Token (DPT) service providers in Singapore to adopt specific measures to discourage speculative crypto activities by retail customers. MAS has