The Hong Kong government has not issued any HKD stablecoin licenses, despite earlier commitments to begin the approval process in March this year. The HKMA is still reviewing the applications and has not announced any approvals. Also, stretching the deadline beyond the earlier stated timeframe by the officials. The officials,
On March 10, Ripple publicised that it has plans to acquire BC Payments to have an Australian Financial Services Licence (AFSL) as it looks to expand its presence in the Asia Pacific region. In the statement, Ripple added that having the AFSL via the acquisition will help the firm to
Alchemy Pay has announced securing a money-transmitter license in the 14th state of America, reflecting strongly on its commitment to regulatory expansion. Its token, ACH, has reacted to this development with an upswing. This comes at a time when the crypto market, on a macro level, is experiencing significant declines.
Hong Kong is getting ready to issue its first batch of stablecoin issuer licences in Q1 of 2025, accelerating its efforts to place itself as a regional hub for digital assets at a time of increasing global competition. The Financial Secretary of Hong Kong, Paul Chan, spoke at the World
Bloomberg has recently reported that Revolut has applied for a complete banking licence in Peru as it moves forward for its expansion over Latin America. If the licence is accepted, it would permit the London-based digital bank to work as a completely regulated lender in the nation. It would also
The financial technology giant Revolut has received regulatory permission to offer cryptocurrency services across the European Economic Area through approval by Cyprus authorities. The London-based company was granted the Markets in Crypto-Assets Regulation license by the Cyprus Securities and Exchange Commission, which is a major step in its digital asset
Singapore has issued a firm directive to unlicensed digital asset service providers operating from its jurisdiction. The Monetary Authority of Singapore (MAS) has enforced a strict June 30 deadline for these firms to either obtain licenses or cease operations immediately. This includes companies that serve only offshore customers but operate
Crypto.com, a crypto exchange company from Singapore, recently received a license that allowed it to provide crypto financial derivatives in the European Economic Area. On May 21, the company announced that it had secured a Markets in Financial Instruments Directive (MiFID) license. On the matter, the co-founder and the chief
Australia is about to overhaul its crypto regulations, which requires exchanges and stablecoin issuers to now obtain a financial services license. This is an initiative to tackle the debanking crisis affecting digital asset firms. The proposed framework aligns with global regulatory trends, in a move to enhance consumer protection, market
In the past few weeks, the crypto regulatory division has seen an increase in activity after the recent market lull. Recently, the Nigerian SEC announced that it would be taking action against unlicensed crypto exchanges. Amid the actions and other lawsuits, Binance saw an advancement in terms of regulations. Notably,
