The Australian Transaction Reports and Analysis Centre (AUSTRAC) has ramped up its regulatory measures in response to the growing misuse of cryptocurrency ATMs for money laundering and terrorist financing activities. This move underscores a significant shift in how authorities perceive the risks inherent in the expanding cryptocurrency sector, especially regarding the roughly 1,200 crypto ATMs
Regulation
On December 11, the U.S. Senate Banking Committee is set to deliberate the renomination of Caroline Crenshaw, a Democratic commissioner at the Securities and Exchange Commission (SEC). Crenshaw’s tenure has been marked by her vocal opposition to cryptocurrencies, a stance that has garnered considerable discontent within the crypto community. As the Senate readies to make
The regulatory landscape for cryptocurrency continues to be fraught with uncertainty, particularly concerning the approval of spot Solana (SOL) exchange-traded funds (ETFs) in the United States. Reports indicate that the Securities and Exchange Commission (SEC) is poised to reject two applications for such ETFs, a decision highlighted by Bloomberg’s ETF analyst, Eric Balchunas. According to
The crypto industry has witnessed a surge in popularity, yet it operates in a complex regulatory environment that demands careful navigation. Recently, Pump.Fun, a platform centered around the issuance of memecoins on the Solana blockchain, found itself in the crosshairs of the UK’s Financial Conduct Authority (FCA). This event underscores the growing scrutiny faced by
Stablecoins have garnered immense popularity in recent years, often hailed as the digital solution to currency stability. However, a recent report from the Financial Stability Oversight Council (FSOC) unveils a troubling narrative hidden behind their appeal. With the rapid growth of stablecoins, the oversight surrounding them has been profoundly lacking, exposing the financial system to
Recently, the South Korean Financial Services Commission (FSC) pushed back against circulating reports that a definitive roadmap for issuing real-name cryptocurrency accounts to corporations was imminent. In a statement issued on December 4, the FSC emphasized that there are no completed plans or guidelines ready for public distribution regarding this matter. Speculation had suggested a
In a significant move, South Korea’s Democratic Party (DP) has opted to delay the implementation of proposed cryptocurrency taxation laws for an additional two years, a decision echoed by floor leader Rep. Park Chan-dae during a recent press conference. The initial tax was slated to come into effect in January 2024, aimed at taxing profits
As the crypto landscape continues to evolve, regulatory frameworks are becoming increasingly stringent, especially in jurisdictions like Canada. This environment has prompted several crypto firms to reconsider their operations within the nation. Notably, Circle has emerged as a trailblazer by successfully achieving compliance for its USD Coin (USDC) with Canada’s new digital asset listing requirements,
The recent nomination of Paul Atkins as the next chairman of the United States Securities and Exchange Commission (SEC) by President-elect Donald Trump marks a significant moment in the regulatory landscape, particularly concerning digital assets. In a post dating December 4, Trump underscored Atkins’ recognition of the vital role that innovations in digital finance play
In a bold declaration at the Investment Forum in Moscow on December 4, Russian President Vladimir Putin heralded Bitcoin (BTC) and other digital currencies as indispensable instruments in the global financial ecosystem. He asserted that these technologies are essential for rectifying financial inefficiencies and bolstering economic stability. By positioning Bitcoin as a potential successor to