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
Regulation
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
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
