Regulation

Recent Regulation Stories

Binance, Kraken, Gate.io Referred to DFS by NY Attorney General for Potential Regulation Violation

The Office of the New York State Attorney General (NY AG) has published a report announcing the referral of three major cryptocurrency exchanges to the U.S. Department of Financial Services (DFS) for potential violations of state cryptocurrency regulations. Published...

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SEC Charges ‘ICO Superstore,’ Digital Hedge Fund Manager with Registration Failures

The U.S. Securities and Exchange Commission is charging two crypto-related entities with registration failures, in what it considers a first for both enforcement actions. TokenLot Hit with Unregistered Broker-Dealers The first to be hit with charges is Michigan-based TokenLot,...

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SEC Shuts Down Two Bitcoin and Ether Securities, Calls Out ‘Investor Confusion’

The U.S Securities and Exchange Commission halted two cryptocurrency-backed securities on Sunday following concerns of “market confusion” among participants. ETFs Remain a Gray Zone According to the SEC notice, XBT Provider’s Bitcoin and Ether exchange-traded notes (ETNs), Bitcoin Tracker One...

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Report: Cryptocurrency to Be Treated As a Prominent Trading Market in Australia

The Australian Securities and Investments Commission (ASIC), has published a corporate plan that describes a vision for the country’s economic future as well as its intentions to regulate the cryptocurrency market. Governing the Crypto Trading Market The watchdog identified initial...

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Local Bitcoin Price Hits Record-High of $24,000 in Iran

With public adoption on the rise, international cryptocurrency regulations continue to develop. On Sept. 4, Iran legitimized cryptocurrency mining as an industry–propelling local Bitcoin prices to new, record highs. Crypto Industry Gains Global Traction in Legitimization The Iranian government...

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Australian Securities Exchange Probes Conglomerate’s Upcoming ICO For Crypto Exchange

A Queensland-based investment company has come under the Australian Securities Exchange’s (ASX) radar after seeking over $15 million in an initial coin offering (ICO) for a cryptocurrency exchange. A Suspicious Expansion Earlier this year, Byte Power Group (BPG), a...

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Korean Lawmaker is ‘Upset to See South Korea Prohibit ICOs’

This week, South Korean lawmakers observed the government’s confusing stance on distributed ledger applications, with blockchain technology promoted across the board and ICO projects facing strict crackdowns. In response, Korean representatives have called for new, minimum guidelines on token...

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Brazilian Crypto Exchanges Subpoenaed in Security Inquiry Amid Recent Hacking Scandal

As it evolves into one of the world’s leading hubs for cryptocurrency exchanges, Brazil’s government is taking questionable action to investigate potential money laundering usage. Brazil’s Top 10 Crypto Exchanges Receive Subpoenas A number of cryptocurrency exchanges have received...

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Why Andreas Antonopoulos Is Against Bitcoin ETFs Despite the Hype

Widely recognized security expert and cryptocurrency researcher Andreas Antonopoulos recently said in a Q&A session that he is against Bitcoin exchange-traded funds (ETFs) and their potential impact on the crypto market. With ETFs, large-scale institutional investors and retail traders...

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Russia May Criminalize Illegal Cryptocurrency Activities

Maintaining its positive, yet careful, stance on cryptocurrencies, the Russian Ministry of Internal Affairs is considering making all unauthorized cryptocurrencies a criminally-liable offense, according to local outlet Izvestia. Russia Seeks Crypto-Criminals The Russian publication collected several documents about the local...

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Federal Trade Commission Issues Warning on Bitcoin Blackmail Scams

The U.S. Federal Trade Commission (FTC) is blowing the whistle on of a new Bitcoin blackmail scam—one purportedly targeting men with a disposition for extramarital “activity.” According to the government’s consumer protection watchdog, allegedly unfaithful men are being sent letters...

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South Korea: ICOs and Blockchain Top Priority for Ongoing ‘Extraordinary’ Meeting

The South Korean National Assembly has kickstarted an “extraordinary” meeting for discussing ICO regulation, cryptocurrency and blockchain frameworks, as well as other steps to support optimal growth of the digital assets sector, Business Korea reported. Korea’s Cryptocurrency Push The...

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Crypto Exchanges Create Working Body to Bolster Bitcoin Trading Market and Increase Credibility

Cryptocurrency exchanges are taking a page from successful stock markets, forming a working group to oversee the unregulated digital asset exchange space, according to Business Insider. Create the New Financial Market While it isn’t confirmed, the logical sequel to...

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Switzerland: Largest Stock Exchange’s Head Unsure of Crypto Trading, Bullish on ICOs & “Token Ecosystem”

The CEO of Switzerland’s largest stock exchange, Thomas Zeeb, speaks on the bourse’s latest strategic decision. Last week, SIX Trading made waves after announcing intent to offer cryptocurrency trading to institutional investors. While the news sparked a bounce in...

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Venezuela: Petro Cryptocurrency Becomes National Unit-of-Account

The cryptocurrency situation in Venezuela received a push on Tuesday, Aug. 14, after President Nicolás Maduro announced that the state-issued Petro token is legally a unit-of-account in the crisis-stricken country, ABC International reports. Maduro’s Giant Cryptocurrency Experiment Launched in February...

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Thailand Greenlights Seven Crypto Operators to Service Clients

Seven cryptocurrency businesses were approved by Thai regulators, Aug. 16, to legally conduct digital asset operations as part of the country’s shift toward optimizing the local blockchain, ICO and cryptocurrency ecosystem. Thailand’s Cryptocurrency Push According to the Thai SEC, seven...

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Thailand Open for Business: 20 New Exchanges Aim to Establish Kingdom of Crypto

Thailand’s forward-leaning crypto policy has catalyzed rapid blockchain platform development, with the Thai SEC receiving 20 applications for new digital asset exchanges and more than 50 applications for token offerings since launching new regulatory framework in July. The crypto...

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US Treasury: Blockchain “Poised to Impact Innovation” in Finance

In a report to President Trump entitled “A Financial System That Creates Economic Opportunities Nonbank Financials, Fintech, and Innovation”, the US Treasury described blockchain and distributed ledger technology as “promising innovations”. Its recommendation regarding cryptocurrency, however, is less clear....

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Chamber of Digital Commerce Proposes Regulations for Cryptocurrency Sector

The Chamber of Digital Commerce (CDC), an American advocacy group released a collaborative research effort on July 30, 2018, containing several proposed guidelines to ensure a “responsible growth” of the burgeoning cryptocurrency industry. CDC’s Digital Token Push As published...

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SEC Denies Winklevoss Bitcoin ETF, SEC Commissioner Officially Dissents With Ruling

The SEC has announced the rejection of the Winklevoss twins application for a Bitcoin ETF, marking the second time a crypto exchange-traded fund application by the Gemini exchange founders has been denied. The rule change request filing, submitted by...

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Major Hotels in Iran Accepting Deposits in Cryptocurrency to Avoid U.S. Sanctions [INTERVIEW]

HotelsInIran.com (“Hotels in Iran”), a major Iranian hotel booking platform, began accepting payments in cryptocurrency subsequent to the imposition of additional sanctions by the U.S. on Iran and Russia in July 2018. Adoption of Bitcoin in Regions With Poor...

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South Korea to Establish Digital Currency Policy-Making Department

South Korea’s financial authority confirmed on July 19, 2018, the implementation of a policymaking department focused exclusively on blockchain technology and related domains. Rising Technology “Leads Financial Innovation” As reported on The Korea Times, the country’s Financial Services Commission...

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Coinbase: Never Needed SEC Approval to List Security Tokens

San Francisco-based Coinbase backpedaled on its Security and Exchange Commision (SEC) approval announcement after previously exciting a furor in cryptocurrency circles for claiming the contrary. Coinbase Backpedals Statements On July 17, 2018, CryptoSlate reported that cryptocurrency exchange behemoth Coinbase...

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Switzerland Scrambles to Regain “Cryptocurrency-Friendly” Status As Banks Dissuade Crypto-Businesses

Famously touted as the “Crypto Valley,” the Swiss city of Zug is losing sheen in favor of other cities and jurisdictions as cryptocurrency startups reportedly face difficulties in administration and governances in the European country. Switzerland Faces Brain Drain...

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Stellar Enters the Middle East, Becomes First Cryptocurrency to Gain Sharia Certification

The seventh-largest cryptocurrency by market cap, Stellar, gained global traction as a unique, decentralized value exchange protocol. Announced July 17, 2018, Stellar is the first cryptocurrency to receive Sharia compliance certification and integrate with Middle Eastern financial firms. Sharia...

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China Securities Regulatory Commission Pushes for Blockchain-Based Financial Infrastructure

The Shanghai Stock Exchange published a research paper outlining the potential integration of blockchain technology into Chinese financial infrastructure, arguing that adopting distributed ledger technology-based replacements for existing transaction settlement models could dramatically improve efficiency. As the fourth-largest stock...

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ADVFN CEO: Bitcoin to Return to $20k — But Not Before Plummeting to $2k First

Bitcoin has experienced a lengthy period of stagnation subsequent to the late 2017 all-time high of $20,000, with the most valuable cryptocurrency failing to challenge the $10,000 mark the first half of 2018. ADVFN CEO Clem Chambers, however, believes...

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Korea Financial Regulator: Kimchi Premium is Gone, Cryptocurrency Market is Now Stable

Kim Yong-bum, the Vice Chairman of the Financial Services Commission and one of the main financial regulators in South Korea, expressed optimism towards the cryptocurrency market and the disappearance of the “Kimchi Premium” which exceeded 30% at the cryptocurrency...

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Bitcoin, Ethereum Slide Back in to Red as Market Reacts to Japanese Regulation, South Korean Tax Confusion

The cryptocurrency market has swung violently back into the red due to a series of regulatory movements from Asia, spooking skittish market participants. Bitcoin and Ethereum plummeted by almost 10% as Japanese regulators crack down on exchange action. Crypto...

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The Final Frontier of Crypto Decentralization: DEXs and The Liquidity Problem

Circumstantial evidence of insider trading and fabricated volume on major crypto exchanges has catalyzed renewed focus on decentralized exchanges — or DEXs — as the future of crypto trading platforms. However, can the present issues within the current market...

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Regulated Cryptocurrency Custody in the Works, Leading Institutional Investors to Crypto

Coinbase — the second largest company in the cryptocurrency market behind $12 billion giant, Bitmain — is working with third-party custodians and hedge funds to bring institutional investors into the cryptocurrency market. In the past few months, prominent hedge fund...

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Led by Japan, Major Economies Set to Introduce Unified Cryptocurrency Regulations

International financial authority Financial Action Task Force (FATF) is expected to collaborate with Japan, the second largest cryptocurrency market behind the US, to introduce unified cryptocurrency regulations in the upcoming months. Japan Concerned With Anonymous Cryptocurrencies Last month, the...

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Billionaire Investor Tim Draper: ‘Bitcoin Will Reach $250,000’ and ‘Fiat is Doomed’

Billionaire venture capitalist, Tom Draper, has reiterated his prediction that Bitcoin will reach $250,000 by 2022, stating that “fiat is the past,” with both crypto and Bitcoin being the future. Draper’s predictions, made during a June 12th interview with...

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Crypto Market Bounces Back: SEC Declares Bitcoin and Ethereum are Not Securities

The US SEC has again clarified its position on both Ethereum and Bitcoin, stating that neither cryptocurrencies are securities. The announcement, made by SEC Corporate Finance Division head William Hinman, has addressed one of the most pressing issues in...

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McAfee Vs the SEC: Renegade Security Expert Challenges SEC to Debate on Cryptocurrencies

Outspoken cryptocurrency proponent, iconoclastic firearm enthusiast, and potential 2020 US presidential candidate, John McAfee, challenged the SEC to a live debate on national television over the SEC chairman Jay Clayton’s recent statements regarding the regulatory status of cryptocurrencies. McAfee,...

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Bitcoin, Ethereum, Ripple, and Litecoin Among 7 Cryptocurrencies Now Legal in Thailand

The Securities and Exchange Commission (SEC) of Thailand announced a regulatory framework for initial coin offerings and cryptocurrency. The details include a list of seven approved cryptocurrencies, fees, and licensing requirements. On May 14th, 2018 the Thailand SEC took...

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Coinbase to Receive SEC Registration and Expand Digital Asset Listings

The U.S. SEC is finally cracking down on cryptocurrency regulation, classifying ICOs as securities and enforcing their rules on private placement sales. In preparation for potential regulatory changes, Coinbase has announced that it is “on track” to receiving SEC registration. Legitimatizing Crypto...

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South Korea’s Top Court Orders Confiscation of Bitcoin, Recognizes Cryptocurrency as Assets

Korea’s premier court has overturned the law to seize 191 Bitcoin earned through the provision of child pornography, ending a lengthy battle over the legal status of cryptocurrency. Appealing a September 2017 ruling that deemed such confiscation to be...

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Chinese President States Blockchain Is “Reshaping the Global Economic Structure”

Chinese President Xi Jinping — the leader of the world’s second-largest economy — has described blockchain as accelerating “application breakthroughs.” Addressing the annual Chinese Academy of Sciences conference on May 28, China’s leader hailed blockchain technology as one that...

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FTC to Host “Decrypting Cryptocurrency Scams” Workshop in June

The thriving prevalence of cryptocurrency investing has become a topic unavoidable by regulatory agencies worldwide. The growing exposure of the cryptocurrency industry to the mainstream public has drawn the attention of investors and scammers alike, leaving many victims to deceptive...

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Crypto Trade Group Pressures SEC to Exempt Ethereum From Security Classification

An alliance of lawyers, venture capitalists, and entrepreneurs have recently met with the US Securities and Exchange Commission to petition for the creation of cryptocurrency “safe harbors” for specific cryptocurrencies and tokens, including Ethereum. The Venture Capital Working Group,...

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Ripple Urges UK Regulators to Establish a Consistent Cryptocurrency Framework

In another push to uniformly manage the UK alt-coin market, executives over at Ripple, the world’s third largest digital currency, have requested British regulators to put an end to the financial unpredictability that engulfs their cryptocurrency sector. Ripple’s head...

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South Korean Financial Regulator Heralds Blockchain as the Future of FinTech

According to latest reports, the South Korean FSC, Financial Services Commission, is planning to support the adoption of various blockchain technologies in order to foster innovation within the country’s FinTech sector. Korean newspaper JoongAng Daily reported that the nation’s...

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