Pavel Durov, the CEO of Telegram, has recently been released from prison but has been placed under judicial supervision with specific conditions. These conditions include the obligation to deposit a €5 million bond, along with a requirement to remain within French territory and report to the police station twice a week. This comes after the
Regulation
Congressman Wiley Nickel, a vocal supporter of the crypto industry, has publicly criticized the US Securities and Exchange Commission (SEC) for its enforcement-focused approach to regulation. He believes that the SEC’s “regulation by enforcement” tactics are an abuse of power that could harm trust in the regulatory system and stifle digital innovation in the US.
The US Securities and Exchange Commission (SEC) has recently emphasized the importance of retail investors having timely access to fund portfolio data. The current regulatory framework mandates that registered investment companies provide periodic portfolio holdings data to the Commission and investors. However, this data is often delayed, impacting millions of households in the US and
Crypto firms are facing increasing challenges in the UK due to burdensome and time-consuming regulatory processes. According to the Financial Times, registrations for crypto asset exchanges and custodian wallet providers with the Financial Conduct Authority (FCA) have decreased by more than 50% in the past three years. This decline highlights the growing frustration within the
Recently, the Nigerian Securities and Exchange Commission (SEC) made a significant move by granting Approval-in-Principle to two local crypto exchanges – Busha Digital Limited and Quidax. This decision falls under the Accelerated Regulatory Incubation Program (ARIP), which aims to onboard operational firms in preparation for the upcoming Rules on Virtual Asset Service Providers in May
The recent announcement by OpenSea CEO, Devin Finzer, regarding the Wells Notice from the US Securities and Exchange Commission (SEC) has sent shockwaves through the NFT community. The SEC’s decision to classify NFTs on the platform as securities has raised concerns among creators and artists who fear the stifling of innovation and potential livelihood jeopardy.
France has long been seen as a favorable base for crypto businesses due to its clear regulations, skilled workforce, and innovation-friendly environment. However, the recent French elections have brought about uncertainties in the country’s position as a crypto hub. The surge in support for the New Popular Front (NFP) coalition, which has proposed significant changes
The recent case involving the US Securities and Exchange Commission (SEC) and Abra has brought to light serious allegations against the crypto lending firm. Abra was accused of failing to register its crypto asset lending product, Abra Earn, which resulted in settled charges by the regulatory body. Stacy Bogert, Associate Director of the SEC’s Division
The European Union’s AI regulatory framework has been heavily criticized by tech leaders such as Meta CEO Mark Zuckerberg and Spotify CEO Daniel Ek. They argue that the EU’s fragmented regulatory structure is hindering innovation in the AI sector. According to the CEOs, the inconsistent implementation of regulations is creating confusion for companies looking to
The DeFi Education Fund and the Blockchain Association have joined forces to challenge the Securities and Exchange Commission’s (SEC) Consolidated Audit Trail (CAT) by submitting an amicus brief. This brief emphasizes the significant privacy and security concerns posed by the CAT, particularly for participants in the digital asset market. The CAT, launched in April, represents
The Indian government has shown a strong commitment to establishing a regulatory framework for the digital currency sector. This initiative follows Finance Minister Nirmala Sitharaman’s statement in October 2023, where she highlighted the consensus reached by G20 nations on the need for unified crypto regulation. The upcoming release of a consultation paper marks the first
German authorities recently conducted a coordinated nationwide operation to confiscate $28 million in cash and 13 crypto ATMs in an effort to combat unlicensed activities within the country’s rapidly expanding crypto market. Spearheaded by the Federal Financial Supervisory Authority (BaFin), the operation targeted 35 locations where crypto ATMs were reportedly being operated without the necessary
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
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