The recent SEC action against Uniswap has raised concerns about the regulatory future of the DeFi space. The SEC alleges that certain tokens traded on Uniswap, such as those issued through ICOs, constitute investment contracts and, therefore, securities. Uniswap is accused of enabling the trading of these tokens without appropriate registration and regulatory oversight, thus
Regulation
US Senators Elizabeth Warren (D-Mass.) and Bill Cassidy (R-La.) have jointly called for authorities to take decisive action against the utilization of cryptocurrency in the distribution of child sexual abuse material (CSAM). In a bipartisan letter penned on April 26 to Attorney General Merrick Garland and Secretary of Homeland Security Alejandro Mayorkas, the lawmakers emphasized
The recent approval of new Anti-Money Laundering Regulations (AMLR) by the European Parliament has significant implications for Crypto Asset Service Providers (CASP) in Europe. These regulations aim to combat money laundering and terrorist financing by imposing stringent Know Your Customer (KYC) procedures on obligated entities. The new laws require obligated entities, including banks, assets and
Nigerian authorities have taken a firm stance on crypto trading, with a recent focus on peer-to-peer (P2P) platforms such as OKX, Binance, KuCoin, and Bybit. A trending circular on social media has been circulating, detailing the Central Bank of Nigeria’s (CBN) directive for financial institutions to identify and impose restrictions on individuals or entities transacting
In response to reports of state actors utilizing Tether’s USDT tokens to circumvent US sanctions, Tether has made the decision to freeze any addresses linked to sanctioned entities. A spokesperson for the firm emphasized Tether’s commitment to respecting the Office of Foreign Assets Control (OFAC) SDN list and promptly freezing sanction addresses to adhere to
The Blockchain Association and the Crypto Freedom Alliance of Texas are pushing back against the US Securities and Exchange Commission (SEC) through legal action. They argue that the SEC exceeded its authority by implementing a rule that redefines the concept of a “dealer” of securities. According to the groups, this move was unjust and in
Following a series of controversies, two SEC lawyers, Michael Welsh and Joseph Watkins, have decided to resign from their positions as lead attorneys in the legal case against crypto firm DEBT Box. The decision to resign came after the regulator made it clear that they would be terminated if they did not step down from
In response to the rapid growth and increasing complexity of the digital assets industry, the Hong Kong Securities and Futures Professionals Association (HKSFPA) has proposed the establishment of independent self-regulatory organizations (SRO) specifically dedicated to overseeing the sector. This initiative aims to enhance the regulatory landscape in Hong Kong to support innovation and security within
The MiCA regulation proposed by the European Union is set to reshape the crypto industry, bringing about significant changes for crypto companies. As the regulatory environment evolves, companies need to ensure compliance for a smooth transition and continued operation in the market. The introduction of MiCA regulation poses several challenges for companies operating in the
The US Securities and Exchange Commission (SEC) filed an amended complaint on April 18 in its case against Justin Sun and other defendants, asserting that Sun’s alleged visits to the United States should give the SEC the jurisdiction needed to take legal action. The regulator claimed that Sun had traveled extensively to the US while
The recent introduction of the Lummis-Gillibrand Payment Stablecoin Act in the US Senate has sparked a wave of criticism from key figures within the crypto industry. Among those voicing opposition to the bill is former Blockchain Association member Jake Chervinsky, who described the proposed legislation as “deeply flawed.” Chervinsky raised concerns that the bill would
The provincial government of Buenos Aires has taken a significant step by formally accusing Worldcoin of violating consumer laws due to what they claim are “abusive clauses” in its user agreement. Among the allegations made by the government is that Worldcoin’s user agreement allows the company to interrupt services without providing any form of repair
Recent discussions between House leaders and Senate Majority Leader Chuck Schumer may lead to action on stablecoin legislation during this summer’s session or in the year-end lame-duck session. House Financial Services Chair Patrick McHenry and ranking member Maxine Waters met with Schumer last week to deliberate on stablecoin legislation, a key area of financial technology
As the blockchain technology continues to evolve, questions surrounding the balance between transparency and data ownership are being raised. While the immutability and transparency of blockchain data can be seen as a way to democratize information and break the control of big corporations, there is also a desire for individuals to have ownership over their