In a compelling address at the Bundesbank Symposium on the Future of Payments, Piero Cipollone, a prominent member of the European Central Bank (ECB) Executive Board, shed light on the necessity for Europe to modernize its financial framework through the adoption of digital assets and distributed ledger technology (DLT). His insights come at a crucial
Regulation
In a proactive move signaling its commitment to becoming a global digital asset hub, the Hong Kong Securities and Futures Commission (SFC) is poised to enhance the regulatory framework for cryptocurrencies. As reported by Hong Kong 01 on October 7, the SFC plans to accelerate the licensing process for crypto businesses, with the intention of
In a significant legal development within the cryptocurrency landscape, TrustToken and TrueCoin, the entities responsible for the TrueUSD (TUSD) stablecoin, have entered into a settlement agreement with the U.S. Securities and Exchange Commission (SEC). This settlement stems from allegations concerning fraudulent and unregistered sales tied to TUSD, raising alarms about transparency and regulatory compliance in
In a significant move towards embracing digital currency, Ohio State Senator Niraj Antani has proposed new legislation to legalize cryptocurrency payments for taxes and fees. This initiative signals Ohio’s commitment to integrating innovative financial solutions into government operations. The implications of this legislation could be far-reaching, reflecting a broader trend of states exploring the potential
In a significant development for virtual asset trading in Hong Kong, the Hong Kong Virtual Asset Exchange (HKVAX) has officially received licensing from the Securities and Futures Commission (SFC) to function as a virtual asset trading platform. This approval not only positions HKVAX as the third licensed cryptocurrency exchange in the city, but it also
Japan’s Financial Services Agency (FSA) has initiated a transformation phase regarding its stance on cryptocurrencies, garnering attention from both local and global markets. This reassessment, set to unfold through winter and aiming for realization by 2025, seeks to reshape the regulatory infra framework surrounding digital assets, with a focus on creating an inviting atmosphere for
In a notable development, Ripple has obtained in-principle approval from the Dubai Financial Services Authority (DFSA), solidifying its status as a pioneering blockchain-based payment service provider in the United Arab Emirates (UAE). This October 1 announcement marks a watershed moment for Ripple as it now stands as the first of its kind to secure a
On October 2, 2023, the United States Court of Appeals for the District of Columbia Circuit made a landmark decision, declaring that prediction markets allowing betting on US elections are legal. This ruling rejected the US Commodity Futures Trading Commission’s (CFTC) attempt to issue a stay on a previous court ruling that favored the prediction
The ongoing legal tussle between the U.S. Securities and Exchange Commission (SEC) and Ripple Labs has captured significant attention within the cryptocurrency landscape. Since the SEC launched its lawsuit against Ripple in December 2020, the case has been emblematic of the broader regulatory challenges facing the cryptocurrency industry. At the heart of the conflict lies
The Financial Conduct Authority (FCA) and the Bank of England have embarked on a significant venture with the launch of the Digital Securities Sandbox (DSS). This innovative platform is designed to facilitate experimentation with distributed ledger technology (DLT) within the context of traditional financial markets. The DSS is set to remain active until December 2028,
