In a significant regulatory development, Hong Kong is set to revamp its over-the-counter (OTC) derivatives reporting framework, including aspects pertinent to cryptocurrency derivatives. This reform, spearheaded by the Hong Kong Monetary Authority (HKMA) and the Securities and Futures Commission (SFC), aims to standardize local reporting practices in tandem with international benchmarks. As the financial landscape
Regulation
In a recent interview, Howard Lutnick, CEO of Cantor Fitzgerald, voiced his concerns regarding the regulation of Bitcoin and other digital assets. Appearing on Fox Business’s “Mornings with Maria,” Lutnick suggested that Bitcoin should be treated similarly to established commodities like gold and oil. His assertion underscores a growing sentiment that cryptocurrencies, particularly Bitcoin, are
Wyoming Senator Cynthia Lummis has made a bold assertion regarding the future of Securities and Exchange Commission (SEC) Chair Gary Gensler. During a discussion on CNBC’s Squawk Box on September 27, she speculated that Gensler might step down from his position next year. Despite claims from hosts that Gensler enjoys his role, Lummis dismissed this
On September 27, the U.S. Securities and Exchange Commission (SEC) reached a settlement with the decentralized autonomous organization (DAO) known as Mango Markets and the Blockworks Foundation. This settlement arises amid a broader push by regulatory authorities to assert jurisdiction over decentralized finance (DeFi) entities worldwide. The accusations stem from a significant incident in 2022,
The recent ruling by Judge Katherine Polk Failla in the Southern District of New York has stirred considerable debate within the cryptocurrency community and legal circles alike. By denying First Amendment protection for software code utilized in crypto protocols, specifically Tornado Cash, the judge has initiated what could become a pivotal moment in how the
In a recent appearance on CNBC’s Squawk Box, Gary Gensler, the Chair of the US Securities and Exchange Commission (SEC), reaffirmed a key regulatory distinction: Bitcoin is not a security. This statement carries significant weight in the ongoing discourse surrounding cryptocurrency regulation, particularly given the historical context of the SEC’s scrutiny over the digital asset
The landscape of cryptocurrency in Australia is undergoing significant transformation with the Australian Securities and Investments Commission (ASIC) poised to introduce a new licensing regime for crypto service providers. This initiative arises from growing concerns regarding the safety and integrity of digital assets and the pressing need for consumer protection in an industry often plagued
In the ever-evolving landscape of digital finance, the recent dialogues surrounding stablecoins emerge as a critical focal point for legislators in the United States. Congresswoman Maxine Waters, a significant figure in these discussions, operates from her role as the leading Democrat on the House Financial Services Committee. The pressing call for a bipartisan framework dedicated
Recently, Swiss crypto bank Sygnum announced the successful acquisition of a crypto license in Liechtenstein, marking a significant milestone for the firm. This license, obtained through its subsidiary Sygnum Europe AG, was confirmed in a statement released on September 23. By registering with the Financial Market Authority (FMA) of Liechtenstein as a service provider under
Former President Donald Trump’s foray into the decentralized finance (DeFi) sector through World Liberty Financial has captured significant attention, particularly in the context of the evolving regulatory framework surrounding cryptocurrencies in the United States. While the project aims to innovate, it stands to face rigorous scrutiny and compliance demands from regulatory bodies like the Securities