Legal & Regulations

SEC Subpoenas Stir Concerns for Ethereum’s Future and ETF Prospects
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SEC Subpoenas Stir Concerns for Ethereum’s Future and ETF Prospects

Recent developments have cast a shadow over the cryptocurrency industry, with the United States Securities and Exchange Commission (SEC) issuing multiple subpoenas to parties connected to the Ethereum Foundation. This action, reported by Fortune on March 20, 2024, has ignited fears that Ether, Ethereum’s native cryptocurrency, might be reclassified as a security—a move that could...

Bitstamp Gains Regulatory Nod in Singapore, Expanding its Crypto Services
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Bitstamp Gains Regulatory Nod in Singapore, Expanding its Crypto Services

Bitstamp, a prominent European cryptocurrency exchange, has recently received in-principle approval from the Monetary Authority of Singapore (MAS) to operate within the city-state. This approval marks a significant milestone for Bitstamp, positioning it as the first crypto exchange with a major presence in the European Union (EU) to secure such acknowledgment in Singapore. With the...

UK Enhances Crypto Enforcement with New Economic Crime Legislation
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UK Enhances Crypto Enforcement with New Economic Crime Legislation

The United Kingdom has made a significant leap forward in its efforts to combat cryptocurrency-related crimes with the recent passage of the Economic Crime and Corporate Transparency Bill. Set to take effect in April 2024, this new legislation grants UK law enforcement authorities enhanced powers to seize and confiscate crypto assets linked to illicit activities,...

Binance Executives Detained in Nigeria Amid Cryptocurrency Clampdown
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Binance Executives Detained in Nigeria Amid Cryptocurrency Clampdown

In a significant move by Nigerian authorities, two senior executives from the global cryptocurrency exchange Binance have been detained in Nigeria. This action comes as part of a broader crackdown on cryptocurrency trading platforms, following the country’s efforts to control speculation on its currency, the naira. The detentions occurred after the executives traveled to Nigeria...

Australian Federal Court Ruling Sets Precedent for Crypto Regulation
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Australian Federal Court Ruling Sets Precedent for Crypto Regulation

In a landmark decision by the Australian federal court, Block Earner has been penalized for its Earner product, while its DeFi Access product was not subject to the same regulatory scrutiny. This case, brought forth by the Australian Securities and Investment Commission (ASIC), marks a significant moment for cryptocurrency regulation in Australia, underscoring the importance...

Spain Enhances Cryptocurrency Regulation with New Tax Collection Initiatives
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Spain Enhances Cryptocurrency Regulation with New Tax Collection Initiatives

Spain is taking a step in tightening its grip on cryptocurrency oversight, with the Finance Ministry, led by María Jesús Montero, introducing key legal changes aimed at bolstering tax collection from crypto assets. This strategic move is set to enhance the Spanish Tax Agency’s ability to identify and seize crypto assets from individuals failing to...

Hong Kong Investigates Worldcoin Over Data Privacy Concerns
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Hong Kong Investigates Worldcoin Over Data Privacy Concerns

The Office of the Privacy Commissioner for Personal Data (PCPD) in Hong Kong has initiated an investigation into Worldcoin, the identity verification project co-founded by Sam Altman of OpenAI fame. The probe was launched amid growing apprehensions regarding the handling of personal data by the project, particularly focusing on its iris-scanning technology used for identity...

South Korea Explores Local Spot Bitcoin ETF Amid Regulatory Changes
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South Korea Explores Local Spot Bitcoin ETF Amid Regulatory Changes

Presidential Office Advocates for Spot Bitcoin ETFs South Korea’s Office of the President has made a significant move by urging the country’s financial regulator to consider the approval of a local spot Bitcoin exchange-traded fund (ETF). This initiative demonstrates South Korea’s interest in aligning its financial regulations with international trends, particularly in the realm of...

Argentina Legalizes Contracts in Cryptocurrencies and Other Non-Traditional Units
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Argentina Legalizes Contracts in Cryptocurrencies and Other Non-Traditional Units

Innovative Change in Argentina’s Contract Law Argentina has made a groundbreaking change to its contract law, now allowing agreements to be executed in various currencies, including cryptocurrencies like Bitcoin, and in unconventional units such as kilograms of beef and liters of milk. This change was confirmed by Foreign Minister Diana Mondino via a social media...

Upcoming High-Level Talks Between Korean SEC and FSS on Cryptocurrency Regulations
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Upcoming High-Level Talks Between Korean SEC and FSS on Cryptocurrency Regulations

Key Regulatory Meeting Set for January Lee Bok-hyun, the head of South Korea’s Financial Supervisory Service (FSS), is scheduled to meet with Gary Gensler, chair of the United States Securities and Exchange Commission (SEC), in January. This meeting, reported by Chosunbiz on December 18, is a strategic move to discuss the state and future supervisory...