The recent early dismissal of BlackRock’s planned spot Bitcoin exchange-traded fund (ETF) by the U.S. Security and Exchange Commission (SEC) may have raised concerns about its eventual success. However, according to Nasdaq executive Giang Bui, this rejection should not be seen as an indication of the product’s viability. Bui explained that the SEC’s rejection at
Regulation
The European Parliament has taken a decisive step towards the regulation of cryptocurrency transactions by approving DAC8. This measure, which introduces tax reporting requirements for crypto transactions across the European Union (EU), will have significant implications for the crypto industry and its participants. With an overwhelming majority of 535 votes in favor, 57 against, and
The recently introduced financial promotions regulations by the UK Financial Conduct Authority (FCA) have raised concerns within the crypto industry. According to Delphi Labs general counsel Gabriel Shapiro, complying with these regulations will be a challenging task for most crypto firms. Shapiro argues that even centralized exchanges and established DeFi projects, which may have more
The cryptocurrency industry in the United Kingdom is set to face significant disruption as new regulations imposed by the Financial Conduct Authority (FCA) come into effect. This article examines the implications of these regulatory changes on digital currency companies, with a particular focus on the subsidiary of Digital Currency Group (DCG) called Luna. Luna, one
G20 leaders are making significant progress towards the implementation of a Crypto Asset Reporting Framework, as reported by The Times of India on September 9th. This framework aims to facilitate the collection and exchange of information among member countries regarding the use of cryptocurrencies and digital assets. The primary objective of this initiative is to
In a major blow to the cryptocurrency world, the U.S. Commodity Futures Trading Commission (CFTC) recently announced the outcome of a case against Mirror Trading International Proprietary Limited (MTI), a South African company involved in fraudulent activities. The CFTC revealed that a judge has entered a consent order against MTI, holding the company accountable for
The International Monetary Fund (IMF) and the Financial Stability Board (FSB) have recently released a report commissioned by the G20, under the leadership of India. This report presents a comprehensive framework for regulating crypto-assets, including cryptocurrencies like Bitcoin and stablecoins. Recognizing the rapid growth of these digital assets, the report aims to address the financial
The South Korean government is taking significant steps to combat North Korea’s use of cryptocurrency assets for its weapons program. In an effort to track and freeze these assets, the government plans to submit a bill that will provide the necessary legal framework. This move comes as North Korea faces severe economic sanctions from Western
The United Kingdom government has taken a significant step towards ensuring safe and responsible artificial intelligence (AI) development. On September 4th, the Department for Science, Innovation & Technology published a statement outlining five ambitious objectives for the upcoming AI Safety Summit, scheduled to be held on November 1st and 2nd at the historic Bletchley Park.
JP Morgan analysts, led by Nikolaos Panigirtzoglou, are suggesting that the Securities and Exchange Commission (SEC) may be forced to approve the spot Bitcoin exchange-traded fund (ETF) applications submitted by various firms. The analysts’ prediction comes after the SEC lost its court case against Grayscale Investments, where a federal court ruled that the SEC must
