The crypto community worldwide has its eyes set on Singapore’s Token 2049, as enthusiasts gather to discuss blockchain, web3, and everything crypto. Meanwhile, presidential candidate Donald Trump garnered market attention by making his first crypto payment at a Bitcoin bar. Amid such intriguing cryptocurrency advancements, the US state of Louisiana
The U.S. Securities and Exchange Commission (SEC) has reinforced its strict stance on limiting crypto custody services for banks and regulated financial firms. In a recent talk at a banking conference on September 9, SEC Chief Accountant Paul Munter reaffirmed the agency’s firm position on rules governing the custody of
Crypto firms’ services banks, in other words, crypto-friendly banks are a declining group of financial organizations within the sector. However, they have not been spared from regulatory impediments in the past. Recently, one specific, United Texas Bank caught the attention of the US Federal Reserve. The regulator has stated allegations
In the past few months, within crypto regulations, there have been numerous reports of advancements and lawsuits. While leading cryptocurrency firms such as Coinbase and Ripple battled with the SEC, other institutions also encountered legal issues. Recently, Ikigai Strategic Partners, a cryptocurrency fund was found to have mismanaged Bitcoin loans
The US political landscape has taken an intriguing crypto approach this election term. Amid former president Donald Trump’s persistent support for the sector, in an interesting turn of events the Democratic party has expressed interest to “reset” its crypto approach. On August 14, Vice President Kamala Harris held a meeting
The cryptocurrency sector in South Korea encountered a revised version of the FSC’s Virtual Asset User Protection Act. This revised version included a charge of supervisory fees for leading crypto exchanges such as Upbit, Bithumb, Coinone and GOPAX. The exchanges are required to pay a regulatory fee of 300 million
The UK’s Law Commission announced that it has initiated a new bill to evaluate the current classification of crypto assets. This announcement comes amid an increasing probability of the Bank of England initiating an interest rate-cut cycle on Wednesday. The Commission has stated that digital assets must be categorized in
Economic Affairs Secretary Ajay Seth revealed that India will release a discussion paper on its cryptocurrency policy before September. This document seeks stakeholder feedback and will outline potential regulatory frameworks beyond the current focus on anti-money laundering (AML) and counter-terrorism financing (CTF) standards. According to the local news outlet, this
In the budget meeting for the fiscal year 2024-2025, India’s Finance Minister Nirmala Sitharaman upheld the existing tax regulations on cryptocurrencies, leaving the controversial tax-deducted-at-source (TDS) rate at 1% unchanged. This decision follows a significant urge from the crypto sector, which had asked for a reduction of the TDS to
Leading US-based Market intelligence firm, Messari has abandoned all connections with the SEC. The firm’s CEO released a strong-worded statement, lashing out at the regulator’s corrupt activities and pointing to its ‘unjust’ actions. In the past few months, multiple cryptocurrency firms have found themselves under the scrutiny of the SEC
