The Markets in Crypto-Assets regulation (MiCA) has officially taken effect throughout the European Union, symbolizing a significant turning point in the oversight of digital assets. With MiCA now in place, industry players must adhere to a comprehensive EU-wide regulatory framework that encompasses various types of digital tokens—including stablecoins, asset-referenced tokens, and several financial services such
Regulation
In a significant move aimed at controlling foreign exchange activities, China’s government has enacted new regulations that target high-risk transactions, particularly those associated with cryptocurrencies. The South China Morning Post reported that the State Administration of Foreign Exchange (SAFE) has mandated banks to closely monitor and report any suspicious transactions related to cross-border activities, including
The cryptocurrency landscape is experiencing a seismic shift as traditional financial institutions begin to embrace crypto trading. Morgan Stanley’s acquisition of E-Trade in 2020 signaled an evolution in how these legacy banks view digital assets. Recent reports suggest that E-Trade is gearing up to launch cryptocurrency trading services shortly, with an eye toward a more
In a groundbreaking development for the cryptocurrency landscape in Brazil, Binance has received regulatory approval from the Central Bank of Brazil to acquire Sim;paul, a licensed broker-dealer. This momentous achievement, announced on January 2, marks Binance as the first crypto exchange in Brazil to obtain such a license, setting a precedent for the industry. The
The United Kingdom’s approach to cryptocurrency regulation is currently facing significant hurdles, particularly in the realm of advertising. Reports indicate that the Financial Conduct Authority (FCA) is overwhelmed by a continuous influx of complaints and alerts regarding potentially misleading crypto promotions. Between October 2023 and October 2024, the FCA issued a staggering 1,702 alerts, but
The Internal Revenue Service (IRS) has implemented a temporary relief on its cost-basis reporting rules regarding cryptocurrency, representing a critical response to the intricate nature of digital asset investments. As the crypto market continues to evolve, so too does the regulatory environment, highlighting the IRS’s recognition of the unique challenges posed by blockchain assets. By
In a significant development within the cryptocurrency landscape, Tether, the issuer of the USDT stablecoin, has made headlines by increasing its Bitcoin holdings by an impressive 7,629 BTC. This acquisition, represented on-chain by Arkham Intelligence, equates to approximately $705 million, pushing Tether’s total Bitcoin assets to approximately 82,983 BTC valued at around $7.68 billion. With
In an era where accessibility and security in financial transactions are paramount, MoonPay has emerged as a frontrunner in the realm of cryptocurrency. On December 30, the company announced that it has officially obtained regulatory approval to operate within the European Union’s Markets in Crypto-Assets (MiCA) framework. Secured from the Netherlands’ Authority for the Financial
In a significant turn of events for the decentralized finance (DeFi) sector, A16z Crypto, the blockchain investment arm of venture capital firm Andreessen Horowitz, has publicly opposed new regulations introduced by the US Internal Revenue Service (IRS) and the Treasury Department. These regulations, particularly aimed at digital asset service providers, have drawn criticism for imposing
Japan’s Financial Services Authority (FSA) has articulated a clear intention to bolster internal audit processes, particularly targeting financial institutions, including those within the burgeoning crypto sector. In a bid to rectify recognized deficiencies and bring domestic practices in line with international regulatory standards, the FSA has announced a series of initiatives aimed at enhancing the
