In a promising turn of events for the cryptocurrency sector, South Korea is poised to loosen its stringent restrictions on crypto trading for institutional investors. Reports suggest that the Financial Services Commission (FSC) will initiate a phased regulatory update aimed at promoting greater institutional involvement in the burgeoning digital assets market. Current regulations confine crypto
Regulation
In a significant shift within the Portuguese banking sector, Banco of Investimentos Globais (BiG) has initiated a prohibition on fiat transfers to cryptocurrency platforms, responding to the regulatory guidance from several prominent financial authorities. These include the European Central Bank (ECB), the European Banking Authority (EBA), and the Bank of Portugal. This move highlights a
Rostin Behnam, the Chair of the Commodity Futures Trading Commission (CFTC), has announced his resignation effective January 20, aligning with the inauguration of President-elect Donald Trump. This timing is strategic, as it provides the incoming administration the opportunity to appoint an interim chair before Congress ratifies a permanent successor. This transition is crucial as it
As the European market prepares for the implementation of the Markets in Crypto-Assets Regulation (MiCA) later this month, Tether—one of the leading players in the global stablecoin space—has made a significant investment in StablR, a stablecoin issuer. This strategic move reflects Tether’s efforts to adapt to a tightening regulatory environment that increasingly demands compliance from
The intricate relationship between the cryptocurrency sector and traditional banking has become increasingly strained in recent years. In a recent exploration into the struggles faced by crypto hedge funds, The Wall Street Journal unveiled that approximately 120 hedge funds focused on crypto have encountered notable difficulties in accessing banking services. This figure notably accounts for
The European Union’s forthcoming crypto regulations, particularly the Markets in Crypto-assets (MiCA) framework, are poised to create significant shifts within the cryptocurrency landscape. As compliance deadlines loom, exchanges within the EU are bracing for major changes, especially with the mandated delisting of Tether (USDT), the most popular stablecoin in the world. This decision, reported by
In a striking move to bolster its asset portfolio, Tether, the issuer of the USDT stablecoin, has significantly increased its Bitcoin holdings. Recent data unveiled by Arkham Intelligence indicates that Tether acquired 7,629 BTC, valued at approximately $705 million. This recent purchase elevates Tether’s total Bitcoin treasury to 82,983 BTC, which is now worth around
In a decisive move underscoring its stringent approach towards foreign exchange and cryptocurrency activities, the Chinese government has enacted new regulations aimed at meticulously monitoring and managing these potentially high-risk domains. As reported by the South China Morning Post, the State Administration of Foreign Exchange has mandated that banks rigorously track and report any suspicious
The recent trend of traditional finance institutions venturing into the cryptocurrency realm signals a significant shift in the financial landscape. Morgan Stanley’s subsidiary, E-Trade, is reportedly preparing to launch a crypto trading service in anticipation of a more accommodating regulatory environment, particularly under the leadership of President-elect Donald Trump. This move reflects a broader financial
In a notable move for the cryptocurrency sector, the Internal Revenue Service (IRS) has temporarily postponed the implementation of specific cost-basis reporting rules pertinent to digital assets. This decision has been largely viewed as a necessary acknowledgment of the complexities entwined in crypto taxation, reflecting a regulatory environment that must dynamically adapt to the ever-changing
