In a significant regulatory development, the Australian Securities and Investments Commission (ASIC) has imposed a hefty fine of approximately $5 million on Bit Trade, the company operating the Kraken exchange in Australia. This penalty arises from Bit Trade’s unlawful issuance of a credit facility, which the federal court determined was in breach of established regulations.
Regulation
Italy is currently navigating a complex terrain as it revisits its proposed tax policy on cryptocurrency capital gains. The government’s initial bid to increase the tax rate from 26% to an ambitious 42% aimed to generate additional revenue for the 2025 budget. However, this move faced immediate backlash from both industry stakeholders and factions within
Anthony Scaramucci’s recent insights at the Bitcoin MENA 2024 conference shed light on the evolving dynamics of Bitcoin within the global financial landscape. As geopolitical tensions flare and economies seek resilience against disruptive forces, Bitcoin’s re-emergence, especially within key nations like China, could signal a significant paradigm shift. The implications of integrating Bitcoin into national
In a groundbreaking development, Jetking Infotrain has positioned itself at the forefront of the cryptocurrency movement by becoming the first publicly traded company in India to adopt Bitcoin (BTC) as a reserve asset. This strategic decision, announced by CEO Avinash Bharwani, came to fruition with the acquisition of 12 BTC on December 9, marking a
Ripple CEO Brad Garlinghouse has announced a significant milestone for the company: the New York State Department of Financial Services (NYDFS) has officially granted the green light for Ripple USD (RLUSD), its very own stablecoin. The announcement, made on December 11 via social media, signals Ripple’s readiness to enter an increasingly saturated market once the
In a noteworthy development for the cryptocurrency sector, Tether’s USDT stablecoin has been granted the status of an Accepted Virtual Asset (AVA) by the Abu Dhabi Global Market (ADGM). This decision, made public on December 10, signals a pivotal shift in regulatory attitudes toward digital currencies in the region. The approval from the Financial Services
On December 11, 2023, the U.S. Senate Banking Committee’s decision to either renominate Caroline Crenshaw, a Democrat member of the Securities and Exchange Commission (SEC), is poised to impact the cryptocurrency landscape significantly. Crenshaw, who took office in August 2020 and has positioned herself as a vocal opponent of cryptocurrencies, is now at the center
The landscape of digital asset taxation in Europe is undergoing significant change, with the Czech Republic taking a noteworthy step by approving an amendment designed to exempt certain income derived from cryptoasset transfers from personal taxation. This legislation, passed on December 6, 2023, is poised to come into effect on January 1, 2025, and promises
Recent reports indicate that the U.S. Securities and Exchange Commission (SEC) is poised to reject applications for two spot Solana (SOL) exchange-traded funds (ETFs). This revelation comes from Bloomberg’s senior ETF analyst, Eric Balchunas, who implied that these decisions represent a significant moment for the cryptocurrency sector as current SEC Chair Gary Gensler prepares for
Recently, Pump.Fun, a platform facilitating the swift launch of solana-based memecoins, restricted access to users in the United Kingdom in response to a warning from the Financial Conduct Authority (FCA). This regulatory caution stemmed from concerns that Pump.Fun may have been offering unauthorized financial products. As a result of this warning, which was issued on
