In recent months, the Hong Kong Securities and Futures Commission (SFC) has embarked on a crucial journey to reshape its regulatory framework for the burgeoning cryptocurrency industry. Local media reported on October 7 that the SFC plans to issue more licenses to crypto businesses by the end of the calendar year. This development follows the
Regulation
The Hong Kong Virtual Asset Exchange (HKVAX) has recently made headlines by securing critical licensing from the Hong Kong Securities and Futures Commission (SFC). This pivotal moment marks a significant milestone, positioning HKVAX as the third licensed cryptocurrency exchange in the region and the first to operate under a regulatory framework specifically designed for virtual
The U.S. Securities and Exchange Commission (SEC) has recently postponed its decisions regarding options trading for BlackRock and Bitwise’s spot Ethereum exchange-traded funds (ETFs) until mid-November. As stated in filings from September 24, the revised deadlines for these two significant players in the ETF space are Nov. 10 and Nov. 11, respectively. This delay comes
The recent settlement between TrustToken and TrueCoin regarding their TrueUSD (TUSD) stablecoin paints a complex picture of regulatory challenges in the cryptocurrency sector. The U.S. Securities and Exchange Commission (SEC) charged these companies with engaging in unregistered sales of TUSD as investment contracts, leading to a substantial financial penalty of $700,000. Interestingly, TrustToken and TrueCoin
In a notable move towards integrating cryptocurrency into fiscal policies, Ohio State Senator Niraj Antani has introduced a bill aiming to legalize Bitcoin (BTC) and other digital currencies for the payment of state and local taxes. The bill, presented on September 30, opens the door for residents to utilize cryptocurrencies to settle their financial obligations
As the landscape of cryptocurrency continues to evolve, regulatory bodies face the challenge of determining how to apply traditional financial laws to digital assets. Recently, the U.S. Securities and Exchange Commission (SEC) decided to pursue an appeal against Ripple Labs in what has become a landmark case for the crypto industry. Filed on October 2
In a landmark ruling, the United States Court of Appeals for the District of Columbia Circuit declared that prediction markets permitting betting on U.S. elections are legitimate. This decision, rendered on October 2, comes after a significant challenge posed by the U.S. Commodity Futures Trading Commission (CFTC). The regulator sought an emergency administrative stay against
In an announcement on October 1, Ripple achieved a crucial milestone by receiving in-principle approval from the Dubai Financial Services Authority (DFSA). This endorsement positions Ripple as the inaugural blockchain-based payment service provider to obtain a license from the DFSA, paving the way for new prospects within the United Arab Emirates (UAE). This accomplishment not
The landscape of financial technologies is rapidly evolving, with distributed ledger technology (DLT) at the forefront of this transformation. In the UK, the Financial Conduct Authority (FCA) and the Bank of England have taken significant steps to harness this innovation through the launch of the Digital Securities Sandbox (DSS). This initiative is poised to revolutionize
Japan is at a pivotal moment in its approach to cryptocurrency regulations, as the Financial Services Agency (FSA) gears up for a comprehensive examination of its existing policies. Culminating in a potential reclassification of digital assets and reduction of tax burdens, these efforts appear to aim at rejuvenating the local crypto market by 2025. The
