The U.S. Securities and Exchange Commission (SEC) has decided not to pursue enforcement action against Paxos over its BUSD stablecoin, concluding a year-long investigation. This decision allows Paxos to move forward with new partnerships and business plans without the looming regulatory uncertainty. The ruling follows a recent partial defeat for the SEC in a lawsuit...
Vitalik Buterin, co-founder of Ethereum, has unveiled a new tool designed for anonymous online voting, developed by the company Rarimo in Kyiv. Named the “Freedom Tool,” it leverages zero-knowledge proof technology to enable Russian citizens to verify their citizenship and vote online without disclosing their identities. This system aims to ensure secure and visible voting...
Germany has caused a significant stir in the cryptocurrency community by unloading over $54 million worth of Bitcoin in a single day. On June 25, the German Government’s (BKA) cryptocurrency wallet sold 900 BTC through three transactions, potentially putting downward pressure on Bitcoin’s price, which could drop below $60,000. The initial two transactions involved 200...
Starting July 19, a new Korean law will mandate that companies issuing certain types of NFTs register as virtual asset operators. This requirement is part of the Korean Virtual Asset User Protection Act, which aims to regulate NFTs that feature large-scale issuance, divisibility, or use as a means of payment. The Financial Services Commission (FSC)...
Hong Kong has mandated that all cryptocurrency exchanges operating without a license from the Securities and Futures Commission (SFC) must immediately cease operations. This regulatory move emphasizes the SFC’s commitment to ensuring a secure and transparent environment for virtual asset trading. The ultimatum issued by Hong Kong regulators requires all cryptocurrency exchanges to apply for...
Cambodia’s Central Bank Governor, Chea Serey, highlighted the role of Bakong, the Cambodian Central Bank Digital Currency (CBDC), in promoting cross-border QR payments and increasing the use of the Cambodian Riel (KHR). Speaking at the Nikkei’s Future of Asia event in Tokyo, Serey emphasized that Cambodia’s currency system, dominated by the U.S. dollar, aims to...
The Hong Kong Monetary Authority (HKMA) and the People’s Bank of China (PBOC) have expanded their cross-border digital yuan pilot, allowing Hong Kong residents to use e-CNY wallets. This initiative aims to facilitate retail payments without enabling person-to-person transfers. The digital yuan, or e-CNY, is China’s central bank digital currency (CBDC), which has been in...
Today, the Blockchain Association and the Crypto Freedom Alliance of Texas launched a legal challenge against the SEC, contesting the agency’s expanded definition of “dealer” within the cryptocurrency sector. Filed in the Northern District of Texas, the lawsuit argues that this redefinition could significantly impair the U.S. crypto industry, asserting that the SEC overstepped its...
The cryptocurrency market witnessed significant turbulence, with total liquidations nearing the half-billion-dollar mark over the past 24 hours. According to CoinGlass, a crypto liquidations tracker, the total amounted to approximately $858.15 million, affecting 270,018 traders. The sudden price decline of major cryptocurrencies on Friday afternoon saw Bitcoin, Ethereum, and Solana experiencing sharp drops within a...
In a forward-looking move to embrace technological advancements in the financial sector, the Bank of England, alongside the Financial Conduct Authority, has initiated a public consultation for a pioneering ‘digital sandbox.’ This initiative aims to facilitate the testing of digital securities trading in realistic market conditions while maintaining a controlled regulatory framework. Set against the...
