Paradigm, a reputable firm in the crypto space, has expressed significant concerns over the proposed regulations by the European Securities and Markets Authority (ESMA) under the Markets in Crypto Assets Regulation (MiCA). The firm’s detailed response to ESMA’s consultation package highlighted potential negative impacts on both EU citizens and the broader crypto ecosystem that could
Regulation
Abra, along with its CEO Bill Barhydt, recently came to a settlement agreement with 25 US state regulators for providing crypto trading services without the necessary licenses. The regulators agreed to waive monetary fines and instead focus on facilitating $82 million in customer repayments. This move demonstrates a level of leniency on the part of
The Securities and Exchange Commission (SEC) in Nigeria has recently issued a 30-day ultimatum for crypto exchanges and digital asset traders to re-register their businesses or face enforcement actions for non-compliance. The SEC announced the initiation of the Accelerated Regulatory Incubation Program (ARIP) for Virtual Assets Service Providers (VASPs) as part of their efforts to
Louisiana Governor Jeff Landry recently signed a bill, HB 488, that has far-reaching implications for the cryptocurrency industry. The bill prohibits the use of central bank digital currencies (CBDCs) and protects crypto mining within the state. This move ensures that individuals and businesses retain the ability to accept crypto for goods and services, as well
Coinbase, one of the leading cryptocurrency exchanges, is facing potential regulatory challenges due to its compliance with new Financial Accounting Standards Board (FASB) rules. These rules, which shift the accounting and disclosure for crypto to a fair-value model from a cost-less-impairment model, have raised concerns among accounting experts. MarketWatch highlighted these concerns in a report
Ripple, a prominent crypto company, is gearing up for legal battles as a US judge in California has given the green light to a lawsuit against the company. The lawsuit revolves around allegations of misleading statements made by Ripple’s CEO, Brad Garlinghouse. This decision paves the way for the case to proceed to trial, where
Recently, the US Commodity Futures Trading Commission (CFTC) has launched an investigation into Jump Crypto, a prominent player in the cryptocurrency sector. While the exact reasons for the probe have not been disclosed, sources familiar with the matter have indicated that the federal agency is examining Jump’s trading and investment activities in the crypto industry.
The recent news of the SEC closing its investigation into Ethereum 2.0 has sent ripples through the crypto market. This decision comes after Consensys sought clarity from the SEC following the approval of ETH ETFs, which classified ETH as a commodity. The closure of the investigation signifies a victory for Ethereum developers and industry participants,
The US SEC has once again raised concerns about Circle’s stablecoin, USDC, as the company attempts to go public through an IPO. The regulatory documents reveal that the SEC is worried about the classification of USDC and other stablecoins as securities under US law. This is not a new issue, as similar concerns were expressed
Recently, South Korea’s Financial Supervisory Service (FSS) made headlines regarding the rumored removal of multiple digital assets from local crypto exchanges. The FSS clarified its role in this matter, stating that it had instructed registered exchanges like Upbit, Bithumb, and Gopax to assess various tokens on their platforms. This directive is in alignment with the
