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Sources familiar with the matter said the first step of the plan is to release a consultation paper in the coming weeks that will invite feedback from stakeholders.
Assad Jafri 2 min read 
The sting was carried out on Aug. 20 and targeted 35 locations where crypto ATMs were reportedly being operated without the necessary licensing.
Nigeria has arecently adopted a stringent regulatory regime towards the emerging industry.
The financial regulator decried the proliferation of scam websites luring Australians to invest in fraudulent schemes.
Binance noted that India has a huge population of thriving crypto enthusiasts.
Schumer aims to pass comprehensive crypto legislation by year's end, seeking bipartisan agreement.
The settlement marks the end of a year-long investigation into Binance's activities in the country.
Crypto stakeholders remain skeptical of Biden's administration efforts on the emerging industry.
The SEC's proposal, which has reopened for public comment, has drawn significant criticism from Coinbase and other industry players.
