In a recent television appearance, SEC Commissioner Mark Uyeda openly criticized the current regulatory dynamics surrounding cryptocurrencies, branding the approach taken by the SEC as “a disaster for the whole industry.” This statement, issued during an October 9 interview on Fox Business’s “Mornings with Maria,” highlights increasing discontent from within the agency about how crypto
Regulation
In a significant development for the digital financial landscape, Taiwan’s Financial Supervisory Commission (FSC) announced a pilot program aimed at fostering digital asset custody services. This initiative, reported on October 8, is part of a greater strategy designed to enhance financial innovation within the country’s regulatory framework before the anticipated comprehensive digital asset legislation set
In recent years, the landscape of digital currencies has significantly evolved, with stablecoins emerging as substantial players in international trade. South Korea’s government has recognized this shift and is taking proactive measures to regulate cross-border stablecoin transactions. The Ministry of Economy and Finance has announced its intention to impose foreign exchange regulations on these digital
In today’s rapidly evolving financial climate, the European continent finds itself at a critical juncture. Piero Cipollone, a prominent voice within the European Central Bank (ECB), recently addressed the urgent need for Europe to pivot towards digital assets and distributed ledger technology (DLT). His remarks at the Bundesbank Symposium on the Future of Payments illuminate
In a significant shift aimed at bolstering the cryptocurrency landscape, the United Arab Emirates (UAE) has announced the exemption of cryptocurrency transactions from the country’s Value-Added Tax (VAT) of 5%. This move, part of a broader amendment to the Executive Regulation of the Federal Decree Law regarding VAT, is intended to take effect on November
The Hong Kong Securities and Futures Commission (SFC) is poised to significantly alter the landscape of cryptocurrency trading by planning to issue more licenses to crypto businesses before the end of the current year. This move, reported by local news outlet Hong Kong 01, marks a pivot towards a more structured approach in embracing digital
In a significant development within the cryptocurrency landscape, TrustToken and TrueCoin, the architects behind the TrueUSD (TUSD) stablecoin, reached a settlement with the U.S. Securities and Exchange Commission (SEC). This settlement stemmed from allegations surrounding fraudulent practices and the unregistered sale of investment contracts. Accused of misleading investors regarding the backing of the TUSD, the
In a bold move toward integrating cryptocurrency into the fabric of governmental financial transactions, Ohio State Senator Niraj Antani has recently unveiled a significant piece of legislation aimed at legalizing Bitcoin (BTC) and other cryptocurrencies for tax payments. Introduced on September 30, this bill signifies a renewed effort to position Ohio as a leader in
The recent licensing of the Hong Kong Virtual Asset Exchange (HKVAX) by the Securities and Futures Commission (SFC) marks a significant milestone in the realm of cryptocurrency exchanges in Hong Kong. As the third licensed venue for crypto trading and the first to operate under a comprehensive virtual asset regulatory framework, HKVAX is poised to
Japan’s Financial Services Agency (FSA) is undertaking a crucial reassessment of its cryptocurrency regulations. As reported by Bloomberg News, the agency’s review, slated for completion by the winter of 2023, aims to evaluate whether the current framework under the Payments Act is adequately supporting the evolving dynamics of cryptocurrencies. This analysis is particularly significant as