OpenSea CEO Devin Finzer recently revealed that the company has received a Wells Notice from the US Securities and Exchange Commission (SEC) regarding the classification of NFTs on its platform as securities. This unexpected development has left Finzer and his team stunned, as they now find themselves in the midst of a regulatory battle against
Regulation
France has been considered a prime location for the world’s largest crypto businesses in recent years. With companies like Binance, Crypto.com, and Circle establishing their European headquarters in Paris, the country has attracted attention for its favorable tax rates, talented workforce, and supportive regulatory environment. However, with new developments following the French elections and increasing
Recently, the US Securities and Exchange Commission (SEC) filed settled charges against crypto lending firm Abra for failing to register its crypto asset lending product, Abra Earn. This failure to comply with registration laws led to Abra selling nearly half a billion dollars of securities to US investors without providing them with sufficient and accurate
The European Union has long been a hub for technological innovation, but according to Meta CEO Mark Zuckerberg and Spotify CEO Daniel Ek, the region’s fragmented regulatory structure is stifling the progress of artificial intelligence (AI) development. In a joint statement, the two tech leaders highlighted the challenges faced by companies in the EU due
The DeFi Education Fund and the Blockchain Association have taken a stand against the Securities and Exchange Commission’s (SEC) Consolidated Audit Trail (CAT) by submitting an amicus brief. This brief raised alarm bells about the significant privacy and security concerns posed by the CAT, particularly for participants in the digital asset market. The CAT, which
The Indian government is gearing up to implement extensive regulations for the cryptocurrency sector, as reported by local media on August 22. It has been revealed that the first course of action will involve releasing a consultation paper in the next few weeks to seek feedback from key stakeholders. This move underscores the government’s dedication
German authorities recently seized $28 million in cash and shut down 13 crypto ATMs in a nationwide operation aimed at combating unlicensed financial activities within the country. Spearheaded by the Federal Financial Supervisory Authority (BaFin), this coordinated effort signifies Germany’s commitment to regulating the rapidly expanding crypto market. The operation, carried out in conjunction with
The Nigerian Federal Inland Revenue Service (FIRS) is taking steps to introduce new legislation to tax the rapidly growing crypto sector within the country. This decision was announced by FIRS Executive Chairman Zacch Adedeji during a session with the National Assembly’s Finance Committees. The main goal of this new regulation is to boost economic growth
Last night, Senator Chuck Schumer, alongside other prominent Democrats, voiced their support for crypto at a Crypto4Harris event. Schumer stressed the importance of regulatory clarity and bipartisan collaboration in shaping the future of the industry. He highlighted the need for common-sense regulations and expressed his goal of passing comprehensive crypto legislation by the end of
As discussions between industry leaders and White House officials continue, Pro-Bitcoin Democrat House Representative and lawyer Ro Khanna anticipates that the Biden administration will soon unveil a cryptocurrency regulation roadmap. Khanna expressed hope that these forthcoming regulations will provide clear guidelines for companies to ensure compliance while fostering innovation and job creation within the United
