Regulation

WisdomTree, a Bitcoin exchange-traded fund (ETF) issuer, has recently obtained regulatory approval from the New York State Department of Financial Services (DFS) to operate its digital asset business within the state. The company received a limited-purpose trust company charter under the New York Banking Law, allowing it to introduce its WisdomTree Prime platform in New
The recent regulatory filings have shown that the US SEC has decided to delay the approval process for several highly anticipated Ethereum exchange-traded funds (ETFs). This has impacted proposals from various investment firms such as VanEck, Ark Invest, Hashdex, and Grayscale. Notably, Grayscale has added a staking component to its ETH ETF application alongside Fidelity.
The UK Financial Conduct Authority (FCA) recently made an announcement regarding its intention to recover approximately $8 million in costs associated with the supervision of stablecoins and cryptocurrencies. The funds, totaling £6.4 million, will be obtained through fees imposed on stablecoin issuers and digital asset custodians. This move by the regulator is primarily to cover
In a recent statement, US SEC chair Gary Gensler expressed concern over the growing trend of “AI washing” in the financial sector. He emphasized that such activities not only mislead investors but may also violate securities laws. Gensler pointed out that some investment advisers and broker-dealers are falsely claiming to use AI to generate higher
The recent court order requiring Binance to provide detailed information on all its Nigerian users raises significant concerns about privacy and data protection. The move by the Federal High Court to compel the exchange to disclose user data to the EFCC reflects a lack of transparency and accountability in the handling of sensitive information. This
The Asia Pacific region (APAC) has been making significant strides in the technology industry, positioning itself as a thriving environment for innovation. With countries like Singapore and Hong Kong taking proactive steps to regulate the crypto landscape, APAC is paving the way for the future of Web3. Singapore, for example, implemented stablecoin regulation last year,
Grayscale has recently made amendments to a regulatory filing with the intention of converting its Ethereum Trust into a spot exchange-traded fund (ETF). This move indicates a strategic shift in the company’s approach towards the cryptocurrency market, specifically Ethereum. One of the key highlights of Grayscale’s amended filing is the emphasis on market surveillance and
In a recent collaboration with the US Department of Justice and the FBI, stablecoin issuer Tether took action against a tech support scam network, seizing $1.4 million USDT linked to the fraudulent scheme. The scam targeted vulnerable elderly individuals through deceptive pop-up advertisements, falsely claiming compromised devices and luring victims into seeking assistance from fake
The Biden administration recently unveiled its proposed budget for the year 2025, which includes several regulatory measures aimed at digital assets. These measures are expected to generate around $10 billion in additional tax revenue by 2025. One of the key focuses of the budget is closing a loophole that has allowed wealthy crypto investors to