As the global cryptocurrency market continues to grow and evolve, regulatory bodies around the world are taking proactive measures to protect investors from potential pitfalls. In this context, Dubai’s Virtual Assets Regulatory Authority (VARA) has recently unveiled updated marketing guidelines aimed at ensuring transparency and fostering responsible promotion of virtual assets. Effective from October 1,
Regulation
In a bold statement made on the Fox Business program “Mornings with Maria,” Cantor Fitzgerald CEO Howard Lutnick has urged for a paradigm shift in how regulators approach Bitcoin (BTC). He posits that the digital currency should be classified similarly to commodities such as gold and oil, emphasizing its inherent value within the financial landscape.
In a significant move to modernize its financial reporting framework, Hong Kong’s financial regulators, namely the Hong Kong Monetary Authority (HKMA) and the Securities and Futures Commission (SFC), have announced plans to align the city’s over-the-counter (OTC) derivatives reporting requirements with international benchmarks. This shift aims to harmonize standards not only for traditional financial instruments
In a significant development within the cryptocurrency market, the U.S. Securities and Exchange Commission (SEC) has reached a settlement with the decentralized autonomous organization (DAO) of Mango Markets and the Blockworks Foundation. This action, which took place on September 27, 2023, stems from accusations that both entities participated in the sale of unregistered securities, particularly
Senator Cynthia Lummis of Wyoming recently stirred discussions regarding the future of the Securities and Exchange Commission’s (SEC) leadership. During a segment on CNBC’s Squawk Box, she shared her belief that SEC Chair Gary Gensler may step down from his position in the coming year. Her remarks countered the show’s assertion that Gensler “loves the
In a landmark decision, a New York judge has made waves in the cryptocurrency realm by ruling against the assertion that code used in crypto protocols, such as Tornado Cash, is protected as free speech under the First Amendment. This ruling, delivered by Judge Katherine Polk Failla of the Southern District of New York on
In the complex and evolving world of cryptocurrency, regulatory clarity is critical for both investor confidence and market stability. Recently, the Chair of the US Securities and Exchange Commission (SEC), Gary Gensler, emphasized that Bitcoin is not a security under US law, reaffirming its classification as a commodity. This declaration works to provide some much-needed
In an era where the cryptocurrency market has exploded in both popularity and complexity, the call for regulatory oversight has become more urgent than ever. The Australian Securities and Investments Commission (ASIC) is taking a decisive step by establishing a licensing framework for cryptocurrency service providers. This shift, reported widely on September 23 by the
As the digital currency market continues to expand rapidly, the need for clear and comprehensive regulations becomes increasingly essential. Among the leading voices advocating for legislative clarity is Congresswoman Maxine Waters, who serves as the top Democrat on the House Financial Services Committee. Waters has recently urged for a bipartisan agreement regarding stablecoins by the
The Swiss cryptocurrency banking group Sygnum continues to make headlines with its recent achievement of obtaining a crypto license in Liechtenstein, notably through its subsidiary, Sygnum Europe AG. This development, announced on September 23, marks a significant milestone for the firm as it positions itself within Europe’s evolving regulatory framework surrounding digital assets. The Financial
