The New York State Department of Financial Services (NYDFS) has introduced new regulations for virtual currency business entities operating in the state. These rules, announced on September 18, primarily focus on cryptocurrency delistings. The NYDFS aims to provide a framework that allows companies to delist coins in a way that protects consumers while ensuring safety
Regulation
The Japan-based cryptocurrency exchange, JPEX, has recently announced that it will be pausing a key feature, adding to a string of developments that have raised concerns about its regulatory standing. The exchange has faced complaints from Hong Kong authorities, resulting in reduced liquidity, higher operating costs, and operational difficulties. This article explores the implications of
Senator Elizabeth Warren’s bipartisan cryptocurrency anti-money laundering bill has seen a surge in support from influential committee chairs and senators. This bill aims to address the rising use of illicit digital assets and enhance regulatory oversight in the emerging cryptocurrency industry. In a recent report by Politico, Senator Warren’s bill gained the backing of nine
The recent early dismissal of BlackRock’s planned spot Bitcoin ETF by the U.S. Securities and Exchange Commission (SEC) has raised questions about the potential success of the product. However, according to statements made by Nasdaq executive Giang Bui, these rejections should not be a cause for concern. While the SEC’s decision relates to regulatory procedural
The European Parliament has recently made a significant decision by approving DAC8, a measure that aims to introduce tax reporting requirements for cryptocurrency transactions across the European Union (EU). This groundbreaking ruling marks a pivotal moment in the regulation of the crypto market and will have far-reaching implications for both individuals and businesses operating within
Franklin Templeton, a leading global investment firm, has recently made a groundbreaking move by applying for a Bitcoin exchange-traded fund (ETF) with the U.S. Securities and Exchange Commission (SEC). This bold step aligns with the company’s longstanding interest in cryptocurrencies and could potentially reshape the future of Bitcoin ETFs. A Transformative Application In a filing
Digital Currency Group’s subsidiary, Luna, is set to pause certain services in the UK as the country’s Financial Conduct Authority (FCA) introduces new regulations. The changes, which will come into effect on October 6, will impose restrictions on how cryptocurrency companies can advertise their services, including banning crypto referral programs. As a result, Luno will
The G20, an international forum for the governments and central bank governors from 19 countries and the European Union, is taking decisive steps towards the establishment of a Crypto Asset Reporting Framework (CARF). This framework aims to collect and exchange information on the use of cryptocurrencies and digital assets among G20 member countries. By doing
In an effort to regulate the advertising practices of social media influencers, French authorities have implemented new rules that require influencers, including those in the crypto industry, to obtain a certification before promoting financial products. The certification, called the Responsible Influence Certificate in Finance, was developed by the Autorité des Marchés Financiers (AMF) and the
With the rapid growth of crypto-assets like Bitcoin and stablecoins, concerns regarding their financial stability and integrity risks have become more prominent. In response to these concerns, the International Monetary Fund (IMF) and the Financial Stability Board (FSB) have published a report commissioned by the G20 under India’s leadership. This report outlines a comprehensive framework