Regulation

Cryptocurrency companies have been moving to improve compliance worldwide amid the bear market of 2022, with many platforms increasingly securing licenses and approvals.  As one may find it difficult to track all global regulatory milestones in crypto, Cointelegraph has picked up some of the latest compliance developments over the past couple of weeks. Global crypto

Australia’s financial regulator, Australia’s Securities and Investments Commission (ASIC) has pledged to put crypto assets and decentralized finance (DeFi) firmly in its sights over the next four years.  According to ASIC’s newly released “Corporate Plan” released on Tuesday, the financial regulator said it will be focusing on “digitally enabled misconducts” as “emerging technologies and products

Crypto lending platform Celsius Network has filed a lawsuit claiming that custodian Prime Trust failed to turn over roughly $17 million worth of cryptocurrency. In a Tuesday filing with the U.S. Bankruptcy Court in the Southern District of New York, Celsius’ legal team brought a complaint against Prime Trust, alleging the company did not return

One user has filed a class-action lawsuit against crypto exchange Coinbase on behalf of account and wallet holders “who have had their accounts breached and incurred losses arising from the unauthorized transfer of assets.” In an Aug. 15 filing in the U.S. district court for the Northern District of Georgia, plaintiff George Kattula requested a

In the aftermath of the first officially reported crypto payment in the sanctioned country’s foreign trade, Iran’s importers point to the necessity of stable regulations to continue trade via cryptocurrencies.  On Saturday local reports cited the head of Iran’s Importers Group and Representatives of Foreign Companies (Import Association), Alireza Managhebi, who emphasized that stable regulations and

Samsung Securities is among seven large South Korean securities companies that have applied for government approval to create a virtual assets exchange, according to a report in South Korean publication Newspim. The companies aim to create a corporation to open an exchange in the first half of next year. Newspim quoted an unidentified executive as saying

Voyager Digital Holdings’ committee of unsecured creditors has filed a motion to object to the firm’s proposal to keep its employees by paying them monetary awards for staying in the company.  On August 2, Voyager Digital filed a motion to the United States Bankruptcy Court in the Southern District of New York to approve the

The South Korean Ministry of Strategy and Finance on Monday cleared that virtual asset airdrops, staking rewards and hard forked tokens would be subject to a gift tax under the Inheritance and Gift Tax Act despite the postponement of crypto gains tax to 2025. Cryptocurrencies are officially referred to as part of virtual assets under

The Inflation Reduction Act, signed into law this month by President Joe Biden, empowers the IRS with nearly $80 billion in new funds. The world’s most powerful tax collection agency is using the money to go on a hiring spree to fuel much tougher enforcement efforts. It is widely assumed that the audits will be

The Federal Deposit Insurance Corporation (FDIC) has issued cease and desist letters to five companies for allegedly making false representations about deposit insurance related to cryptocurrencies. FDIC issued a Friday press release disclosing cease and desist letters for cryptocurrency exchange FTX US and websites SmartAssets, FDICCrypto, Cryptonews and Cryptosec. In the letters, which were issued

FTX has reportedly begun blocking accounts that have sent coins through zk.money, a private layer-2 chain provided by the Aztec Network on Ethereum. According to Twitter users, FTX has identified the DApp as a mixer — a service it deems a “high-risk activity” prohibited by the exchange. Reports of blocked transactions on FTX began appearing

Coming every Saturday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link. Top Stories This Week Fed to issue long-awaited guidelines for granting master accounts to

Many see implementing Know Your Customer (KYC) tools in crypto as a deterrent to the Bitcoin (BTC) Standard, which has predominantly promoted anonymized peer-to-peer transactions. However, regulators stay put on promoting KYC and anti-money laundering (AML) implementations as a means to ensure investors’ safety and protection against financial fraud.  While most crypto exchanges have begun

The CEO of crypto exchange Binance, Changpeng ‘CZ’ Zhao, raised concern for traders after learning about the infamous phenomenon of trade jitters on other crypto exchanges.  Jitters in crypto trading relate to a trade event wherein an investor’s buy or sell order gets stuck and moves down in the list, allowing newer trade orders to

Scott Beck, chief executive officer of United Texas Bank, called on members of the state’s blockchain working group to recommend policy for leaving stablecoins to banks rather than crypto firms. Speaking before the Texas Work Group on Blockchain Matters in Austin on Friday, Beck suggested limiting the issuance of U.S. dollar-backed stablecoins to licensed banks

After recovering the HUSD stablecoin’s dollar peg, crypto exchange Huobi explained what had caused the short-term liquidity problem and assured users that it had been resolved.  On Thursday, HUSD started to fall from its dollar value, trading at $0.92 at the start of the day and falling as low as $0.82 a few hours later.