Regulation

Greece Moves to Regulate Crypto Amid Surging Adoption
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Greece Moves to Regulate Crypto Amid Surging Adoption

Authorities and investors in Greece are increasingly concerned about the lack of clear regulatory and tax frameworks for cryptocurrencies, as digital asset adoption reaches new heights in the country. This concern has been fueled by the rapid growth in cryptocurrency use, particularly among young adults around the age of 30, driven in part by the...

Euro Stablecoins to Thrive Under New EU MiCA Guidelines
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Euro Stablecoins to Thrive Under New EU MiCA Guidelines

The impending launch of the European Union’s Markets in Crypto-Assets (MiCA) regulation is expected to significantly boost the adoption of Euro-backed stablecoins. According to a recent report by Kaiko Research, the MiCA guidelines, set to take effect by the end of June, will provide much-needed regulatory clarity for stablecoins, encouraging their use within the EU....

DFSA Amends Crypto Regulations in Dubai’s Special Economic Zone
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DFSA Amends Crypto Regulations in Dubai’s Special Economic Zone

The Dubai Financial Services Authority (DFSA) has updated its cryptocurrency token rules, aiming to enhance the regulatory framework within the Dubai International Financial Centre (DIFC), a special economic zone in Dubai. These changes were announced on June 3 and stem from the DFSA’s Consultation Paper 153, published in January 2024. The DFSA, an independent regulator...

Hong Kong Officially Kicks Out All Unlicensed Crypto Exchanges
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Hong Kong Officially Kicks Out All Unlicensed Crypto Exchanges

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...

UAE Agriculture Authority Prohibits Crypto Mining on Farms
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UAE Agriculture Authority Prohibits Crypto Mining on Farms

The Abu Dhabi Agriculture and Food Safety Authority has issued a directive prohibiting the use of farms for cryptocurrency mining activities. This advisory emphasizes that utilizing farms for crypto mining constitutes a “misuse of the farm for purposes other than its intended use.” Violations of this regulation could result in penalties of up to 10,000...

Florida State Appeals Court Reverses Binance US Suspension
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Florida State Appeals Court Reverses Binance US Suspension

Binance US has been granted permission to continue operations in Florida following a decision by the First District Court of Appeal. The court overturned an emergency order issued by Florida’s Office of Financial Regulation (OFR) that had suspended Binance US’s money transmitter license. The First District Court of Appeal ruled unanimously in favor of Binance...

Hong Kong Orders Worldcoin to Halt Iris Biometric Data Collection
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Hong Kong Orders Worldcoin to Halt Iris Biometric Data Collection

Hong Kong’s privacy regulator, the Office of the Privacy Commissioner for Personal Data (PCPD), has ordered Worldcoin to cease collecting biometric data within the city. The enforcement notice, issued on May 22, directs Worldcoin Foundation to stop scanning and collecting iris and face images from the public. The PCPD has been scrutinizing Worldcoin due to...

Congress Advances FIT21 Bill to Clarify Crypto Regulations
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Congress Advances FIT21 Bill to Clarify Crypto Regulations

The United States House Financial Services Committee is advancing the Financial Innovation and Technology to the 21st Century Act, or FIT21, which aims to clarify the roles of the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC) in digital asset regulation. The bill, initially proposed in July 2023, will soon be...

EU’s New Anti-Money Laundering Rules to Impact Crypto Sector
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EU’s New Anti-Money Laundering Rules to Impact Crypto Sector

The European Union (EU) has adopted stringent anti-money laundering regulations for crypto firms, including exchanges and asset managers. The new rules, part of the Markets in Crypto-Assets (MiCA) regulations, are set to be enforced by the end of the year and will be overseen by Frankfurt’s newly established Office of Anti-Money Laundering and Combating Financial...

SEC Sues Bitcoin Miner Geosyn for $5.6M Fraud
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SEC Sues Bitcoin Miner Geosyn for $5.6M Fraud

The U.S. Securities and Exchange Commission (SEC) has filed a lawsuit against Geosyn Mining and its founders, Caleb Joseph Ward and Jeremy George McNutt, for defrauding investors of $5.6 million. The SEC alleges that the company misrepresented its crypto-mining operations, falsely claiming to have cheap electricity contracts and failing to purchase the mining equipment promised...