Recent reports from local media sources have indicated that the Indian government is gearing up to introduce comprehensive regulations for the cryptocurrency sector. The first step in this plan involves the release of a consultation paper in the upcoming weeks to gather feedback from various stakeholders. This initiative underscores the government’s commitment to creating a
Regulation
Recently, German authorities confiscated $28 million in cash and 13 crypto ATMs in an effort to crack down on unlicensed activities within the country’s rapidly expanding crypto market. Spearheaded by the Federal Financial Supervisory Authority (BaFin), this coordinated operation aimed to strengthen oversight and mitigate the risks associated with unregulated financial activities involving digital assets.
The Nigerian Federal Inland Revenue Service (FIRS) is making moves to introduce legislation aimed at taxing the rapidly growing crypto sector. This decision comes as part of a larger effort to modernize Nigeria’s regulatory framework and encourage economic growth and innovation within the digital asset space. During a session with the National Assembly’s Finance Committees,
Australia’s Securities and Investment Commission (ASIC) has taken a strong stance against crypto scams by shutting down 615 fraudulent websites in the past year. This initiative is part of a larger effort to combat investment fraud within the country. The regulator’s actions extended to closing 7,300 scam websites, including fake investment platforms and phishing sites.
Binance, one of the leading cryptocurrency trading platforms, has recently achieved a significant regulatory milestone by registering with India’s Financial Intelligence Unit (FIU-IND). This registration marks a crucial step for Binance as it expands its compliance efforts to 19 jurisdictions, which is the highest number for any crypto trading platform in the industry. The exchange
At a recent Crypto4Harris event, Senate Majority Leader Chuck Schumer and other prominent Democrats expressed their strong support for crypto. They emphasized the importance of regulatory clarity and bipartisan collaboration in shaping the future of the industry. Schumer highlighted Congress’s responsibility to enact common-sense regulations for crypto, with the goal of passing a comprehensive crypto
Brazilian regulators have fined crypto exchange Binance a significant $1.76 million to settle allegations of unlicensed derivatives trading in the country. This settlement with the Comissão de Valores Mobiliários (CVM) marks the end of a long year-long investigation into Binance’s activities in Brazil. The regulatory crackdown began in July 2020, when the CVM ordered Binance
As a Pro-Bitcoin Democrat, House Representative Ro Khanna has indicated that the Biden administration will be releasing a crypto regulation roadmap in the near future. Khanna has expressed hope that these regulations will provide a clear path towards reasonable regulation that will support compliance, innovation, and job creation within the United States. Emphasizing the importance
Coinbase, one of the leading cryptocurrency exchanges in the United States, has taken a firm stance against the US Securities and Exchange Commission’s (SEC) proposal to broaden the definition of “exchange” to include decentralized exchanges (DEXs). In a detailed comment letter submitted to the SEC, Coinbase’s Chief Legal Officer, Paul Grewal, raised significant concerns about
Tyler Winklevoss, co-founder of Gemini, recently took to X to criticize the crypto stance of Vice President Kamala Harris, calling it a “scam.” This comes after the Federal Reserve’s crackdown on Customers Bank, one of the only crypto-friendly banks in the U.S. Winklevoss believes that the enforcement action creates a choke point that ultimately hinders
