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Regulation

NYDFS Ordered to Stop Issuing New BUSD Tokens
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NYDFS Ordered to Stop Issuing New BUSD Tokens

The New York State Department of Financial Services (NYDFS) has ordered Paxos Trust to stop issuing new Binance USD (BUSD) tokens, The Wall Street Journal (WSJ) reports, citing Binance. At the same time, Paxos will continue to manage the redemption of the BUSD token. BUSD is a Binance-branded stablecoin pegged to the US dollar. Paxos...

Kraken Ends Its Crypto-Staking Services for Us Clients Following $30M SEC Charge
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Kraken Ends Its Crypto-Staking Services for Us Clients Following $30M SEC Charge

Kraken has settled charges with the U.S. Securities and Exchange Commission (SEC) and is shutting down its on-chain staking program, the government agency shared on Thursday. The exchange, which was charged under its subsidiaries of Payward Ventures and Payward Trading, will pay $30 million in charges for “disgorgement, prejudgment interest and civil penalties.” In response...

Ethereum Co-founder Joe Lubin Says No Chance Eth Is Classed as Security
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Ethereum Co-founder Joe Lubin Says No Chance Eth Is Classed as Security

Ethereum co-founder and crypto entrepreneur Joseph Lubin is confident that Ether ETH won’t be classified as a security in the United States. Cointelegraph spoke with Lubin, Ethereum co-founder and founder of blockchain tech firm ConsenSys, in Tel Aviv at the Web3 event, Building Blocks 23. Asked if ETH could be classed as a security in...

ECB Promises High Level of Confidentiality for Digital Euro Payment Data
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ECB Promises High Level of Confidentiality for Digital Euro Payment Data

The European Central Bank (ECB) has said that the digital euro is not related to programmable money, which is to say currency for which spending rules are laid down upon issuance. “The digital euro is NOT programmable money,” reads a presentation published by the regulator of a new form of European currency. Digital national currencies...

Cross-border Crypto Scammers on Hit List for EU Agencies
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Cross-border Crypto Scammers on Hit List for EU Agencies

By the end of 2022, scammers shifted their focus to duping crypto investors who were desperately trying to recoup their year-long losses. An international law enforcement operation led by European government agencies joined crypto entrepreneurs and businesses to curb cross-border crypto scams in July 2022, uncovering a criminal network operating through call centres. Law enforcement...

Cryptocurrency Tax in India Pushes Traders to Foreign Exchanges
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Cryptocurrency Tax in India Pushes Traders to Foreign Exchanges

India’s tax rules on cryptocurrencies, which came into effect last April, have seen local exchanges lose the lion’s share of the market to those run by foreign players, according to a new report. Binance, Coinbase and other foreign exchanges held 67.6% of the crypto market share in India as of October 2022, up from 50%...

SEC Issues Critical Warning to U.S. Crypto Companies
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SEC Issues Critical Warning to U.S. Crypto Companies

The U.S. Securities and Exchange Commission (SEC) has called on public companies to analyze and disclose information about their losses, including whether they are doing business with any firm associated with cryptocurrencies. The regulator, which oversees the U.S. publicly traded disclosures that occurred this year, said the guidance was due to “recent bankruptcies and financial...