The recent reports on the Indian government preparing to introduce comprehensive regulations for the crypto sector signals a significant step towards establishing a structured framework for digital currencies in the country. Government Initiative The plan to release a consultation paper inviting feedback from stakeholders showcases the government’s commitment to regulating the crypto sector. This proactive
Regulation
German authorities recently made a bold move to tackle unlicensed financial activities within the rapidly expanding crypto market. The Federal Financial Supervisory Authority (BaFin) spearheaded a coordinated nationwide operation that resulted in the confiscation of $28 million in cash and 13 crypto ATMs. This action, carried out in collaboration with law enforcement and the German
The Nigerian Federal Inland Revenue Service (FIRS) is set to revolutionize the way the country’s crypto sector is taxed. This move comes after years of advocacy from industry experts and signals a shift towards a more progressive regulatory framework in Nigeria. FIRS Executive Chairman Zacch Adedeji unveiled plans to introduce new legislation during a session
The recent Crypto4Harris event saw Senate Majority Leader Chuck Schumer advocating for regulatory clarity and bipartisan collaboration in the crypto industry. Schumer emphasized the importance of enacting common-sense regulations and passing comprehensive legislation by the end of the year. He compared crypto regulation to artificial intelligence regulation and highlighted the need for collaboration between Congress
Pro-Bitcoin Democrat House Representative Ro Khanna has hinted at the possibility of the Biden administration releasing a crypto regulation roadmap in the near future. Khanna, who is also a lawyer, expressed hope that the Administration would issue a statement outlining a path towards reasonable regulation. The goal is to ensure that companies can remain compliant
Tyler Winklevoss, the co-founder of Gemini crypto exchange, has openly criticized Vice President Kamala Harris for what he calls a “scam” regarding her reset of the crypto stance. In his post, he highlights the Federal Reserve’s recent crackdown on Customers Bank, a crypto-friendly bank in the U.S. Winklevoss accuses the Federal Reserve of creating a
The Securities and Exchange Commission of Thailand (SEC Thailand) has taken a significant step towards promoting innovation in the digital asset sector with the launch of its Digital Asset Regulatory Sandbox. This initiative provides a structured environment for businesses to test and develop services related to digital assets within a regulated framework. By creating a
OKX CEO, Star Xu, recently issued a warning to users about the risks associated with interacting with the sanctioned crypto mixer, Tornado Cash. Xu emphasized that deposits from entities such as Garantex and Tornado Cash, or withdrawals to these entities, could trigger compliance risks leading to account suspension. This highlights the importance of understanding and
The possibility of adding options features to Bitcoin (BTC) exchange-traded funds (ETFs) in the US has been a topic of discussion among experts. According to Bloomberg ETF analyst James Seyffart, there is a likelihood that these features will be introduced in the fourth quarter. However, Seyffart also mentioned in a post that the offering could
In a long-awaited decision, the court has finally reached a verdict in the lawsuit filed by the US Securities and Exchange Commission (SEC) against Ripple. After four years of legal battle, Ripple has been slapped with a hefty $125 million fine. This news has sent shockwaves through the crypto community, with XRP’s price surging by