The Hong Kong Securities and Futures Commission (SFC) has taken a significant stride in regulating the burgeoning virtual asset market by issuing licenses to four new virtual asset trading platforms (VATPs). This decision, announced on December 18, is a pivotal addition to the landscape of crypto trading in the region, reflecting the SFC’s commitment to
Regulation
The ongoing conversation around governance within the crypto space continues to gain momentum, with Charles Hoskinson, the founder of Cardano, leading a recent charge for reform. In a thought-provoking post shared on December 18, he prompted the Cardano community to scrutinize the structure and decision-making norms of the Cardano Foundation. This call for introspection does
The European Securities and Markets Authority (ESMA) has announced the final guidance for implementing the Markets in Crypto-Assets (MiCA) regulations, as detailed in a statement released on December 17. This development marks the conclusion of an extensive 18-month process that involved meticulous preparation and cooperation with the European Banking Authority (EBA), culminating in the creation
In a proactive move to safeguard investors, the Nigerian Securities and Exchange Commission (SEC) has introduced stringent regulations governing influencers who promote cryptocurrency products. These updated rules come amidst a growing recognition of the vital need for transparency in digital asset promotions. The SEC aims not only to protect potential investors from misleading claims but
In a decisive move aimed at refining the landscape of cryptocurrency regulation, the UK Financial Conduct Authority (FCA) has embarked on a public consultation process as of December 16. This initiative underscores the regulatory body’s commitment to developing a robust framework that fosters innovation within the crypto space while simultaneously addressing the myriad risks that
In recent years, the exponential growth of digital assets has created both opportunities and challenges within the financial sector. As cryptocurrencies gain traction, the call for clearer regulations has become urgent. Congressman French Hill, the newly appointed chair of the House Financial Services Committee, has stepped into this arena with a commitment to reforming the
In a recent move that reflects the complexities of balancing fiscal needs with a desire to nurture burgeoning industries, Italy’s government has announced plans to reduce a proposed tax hike on cryptocurrency capital gains. Initially, as part of its 2025 budget, the government aimed to increase the tax rate on crypto gains from 26% to
The recent litigation involving Bit Trade, the operator of the Kraken exchange in Australia, illuminates the pressing issue of regulatory compliance within the burgeoning cryptocurrency sector. On December 12, 2023, the Australian Securities and Investments Commission (ASIC) announced that Bit Trade would face a hefty fine of AUD 8 million, equivalent to roughly USD 5
In an exciting development for the cryptocurrency landscape, Ripple’s CEO Brad Garlinghouse announced a significant milestone in the company’s journey: the New York State Department of Financial Services (NYDFS) granted approval for the launch of its new stablecoin, Ripple USD (RLUSD). This strategic move positions Ripple to make meaningful strides in the burgeoning market of
In a pivotal move for the cryptocurrency landscape, Tether’s USDT stablecoin has garnered official approval as an Accepted Virtual Asset (AVA) by the Abu Dhabi Global Market (ADGM). This announcement, released on December 10, serves as a testament to the growing legitimacy and integration of digital currencies within established financial frameworks. The decision, enacted by
