The Nigerian Federal Inland Revenue Service (FIRS) is set to introduce new legislation aimed at taxing the rapidly growing crypto sector. This move comes as part of the government’s efforts to modernize the country’s regulatory framework and foster economic growth through innovation. According to FIRS Executive Chairman Zacch Adedeji, the proposed regulation seeks to address
Regulation
Last night, prominent Democrats, including Senate Majority Leader Chuck Schumer, gathered at a Crypto4Harris event to express their unwavering support for crypto regulation. Schumer emphasized the need for regulatory clarity and bipartisan collaboration to shape the future of the industry. He highlighted Congress’s responsibility to enact sound regulations for crypto and bring both sides of
House Representative Ro Khanna recently shared his optimism about the Biden administration releasing a crypto regulation roadmap in the near future. This roadmap is expected to provide a clear path towards reasonable regulation that will help companies in the crypto sector to stay compliant while fostering innovation and job creation in the US. Several discussions
In a recent social media post, Tyler Winklevoss, co-founder of Gemini crypto exchange, criticized what he called the “reset” of Vice President Kamala Harris’ stance on crypto as a “scam”. This comes on the heels of the Federal Reserve’s crackdown on Customers Bank, a crypto-friendly institution. Winklevoss’s post comes after he expressed disappointment in Harris
The Securities and Exchange Commission of Thailand (SEC Thailand) has taken a significant step towards promoting innovation in the financial sector with the launch of its Digital Asset Regulatory Sandbox. This initiative, as outlined in a recent press release, provides a structured environment for businesses to test and develop services related to digital assets within
OKX CEO Star Xu recently issued a warning to users regarding the potential risks associated with interacting with the sanctioned crypto mixer, Tornado Cash. In a statement shared on social media, Xu highlighted the importance of adhering to sanctions policies, especially those from the US. He pointed out that deposits from or withdrawals to entities
The addition of options features to Bitcoin exchange-traded funds (ETFs) in the US is a hot topic of discussion. Bloomberg ETF analyst James Seyffart predicts that these features could be introduced as early as the third quarter, with a final deadline for a decision from the US Securities and Exchange Commission (SEC) set for September
Ripple, a major player in the cryptocurrency industry, has been ordered to pay a hefty fine of $125 million by a court ruling after a long-standing legal battle with the US Securities and Exchange Commission (SEC). This news caused a sudden 18% spike in XRP’s price, which was trading at $0.61 at the time of
A new bipartisan bill introduced in the Senate by Senator Catherine Cortez Masto and Senator Chuck Grassley aims to bolster the investigative authority of the US Secret Service in tackling crimes involving cryptocurrencies. The bill is a response to the escalating threat posed by transnational cybercriminal activities, such as unlicensed money-transmitting businesses, structured transactions, and
Cryptocurrency regulation has been a hot topic in the financial world, with many countries grappling with how to effectively oversee digital assets. Joey Garcia, the Director and Head of Regulatory Affairs at Xapo Bank, has been at the forefront of this evolution. In a recent interview with CryptoSlate Senior Analyst James Van Straten, Garcia shared
In a move to revamp its digital assets industry, The Bahamas Securities Commission recently announced the passage of the Digital Assets and Registered Exchanges Act, 2024 (DARE 2024). This legislation comes nearly two years after the collapse of FTX, a major exchange headquartered in the country. The goal of DARE 2024 is to establish regulatory
In a bold move, Jonathan Mann and Brian L. Frye have taken legal action against the US Securities and Exchange Commission (SEC) regarding the classification of NFTs representing digital art. The crux of the issue lies in whether these unique digital artworks should be deemed securities under US law. Mann, a well-known figure for his
Goldman Sachs CEO David Solomon recently made comments regarding Bitcoin’s potential as a store of value, likening it to gold. While he expressed some optimism about the underlying blockchain technology, he maintained a cautious stance towards the cryptocurrency. Solomon emphasized that he sees Bitcoin as more of a speculative investment without a clear use case.
In light of former President Donald Trump’s recent statements supporting digital assets and advocating for the US to become a global leader in the cryptocurrency space, Tron founder Justin Sun has called on China to reconsider its current Bitcoin policies. Trump’s pledge to uphold the 210,000 Bitcoin held by the US government and to position