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
Regulation
The evolving regulatory landscape surrounding digital assets in the United States has taken a significant turn with the release of the finalized broker rules by the U.S. Department of the Treasury and the Internal Revenue Service (IRS). These rules, specifically targeting digital asset service providers, introduce a requirement for decentralized finance (DeFi) protocols to conduct
The Securities and Exchange Commission (SEC) has recently taken a significant step in the ongoing scrutiny of the cryptocurrency sector by charging Tai Mo Shan Limited, a subsidiary of Jump Crypto, with misleading investors about the mechanics of the Terra USD (UST) stablecoin. The SEC’s allegations highlight the assertion that Tai Mo Shan engaged in
The cryptocurrency landscape is on the cusp of transformative changes as we look toward 2025. Coinbase’s recent market analysis underscores several crucial trends that are expected to shape the future of this digital frontier. Three pivotal concepts stand out: the rise of tokenization, a resurgence in decentralized finance (DeFi), and an evolving framework for pro-crypto
The recent turbulence within the banking industry has posed significant challenges for hedge funds involved in cryptocurrency. A troubling report from The Wall Street Journal on December 20 highlighted that around 120 out of 160 crypto hedge funds surveyed faced substantial difficulties in securing banking services over the past three years. This statistic illuminates a
Worldcoin, a digital identity verification service leveraging biometric data, has made headlines with its innovative approach to creating secure digital identities. By utilizing iris scans to produce unique identification markers, the company purports to authenticate users while mitigating the risks associated with duplicate registrations. However, this ambitious endeavor has triggered significant controversies regarding the privacy
In a significant regulatory advancement, the Securities and Futures Commission (SFC) of Hong Kong has granted licenses to four new virtual asset trading platforms (VATPs). This move, announced on December 18, highlights the city’s rapid evolution towards a structured framework for digital asset trading. The newly licensed platforms—Accumulus GBA Technology Ltd, DFX Labs Company Ltd,
In a provocative social media post on December 18, 2023, Charles Hoskinson, the visionary behind Cardano, voiced his discontent with the current governance structure of the Cardano Foundation. He urged the organization to consider relocating from Switzerland to jurisdictions like Abu Dhabi or Wyoming, where community engagement in board elections is more feasible. This appeal
The Nigerian Securities and Exchange Commission (SEC) has introduced sweeping reforms in its regulations regarding the promotion of cryptocurrency products, particularly impacting social media influencers. This initiative marks a profound shift aimed at enhancing transparency and protecting investors from deceptive marketing practices prevalent in the volatile cryptocurrency market. As influencers play a powerful role in
In a pivotal move for the European crypto market, the European Securities and Markets Authority (ESMA) announced its final guidance on the comprehensive Markets in Crypto-Assets (MiCA) regulations on December 17. This announcement marks the conclusion of an intense 18-month effort that saw ESMA collaborate with the European Banking Authority (EBA) to develop over 30
