The recent charges brought by the U.S. Securities and Exchange Commission (SEC) against TrueCoin and TrustToken have sent ripples throughout the cryptocurrency community. The allegations center on the fraudulent and unregistered sale of investment contracts related to the TrueUSD (TUSD) stablecoin. This situation is a stark reminder of the regulatory scrutiny that this fundamentally volatile
Regulation
On September 27, 2023, the United States Securities and Exchange Commission (SEC) initiated a significant regulatory action against Mango Markets’ decentralized autonomous organization (DAO) and the Blockworks Foundation. This settlement comes on the heels of a turbulent period following the platform’s $100 million breach in 2022. The SEC accused these entities of distributing unregistered securities,
In recent discussions surrounding the future of cryptocurrency regulation in the United States, Senator Cynthia Lummis of Wyoming has speculated on the potential departure of SEC Chair Gary Gensler from his position. This commentary arose during a segment on CNBC’s Squawk Box on September 27. Lummis challenged the notion presented by the hosts that Gensler
The recent ruling by Judge Katherine Polk Failla in the Southern District of New York has put a significant spotlight on the legality and regulation of cryptocurrencies, particularly regarding software code used within crypto protocols. This decision has profound implications not only for developers like Roman Storm of Tornado Cash but for the entire cryptocurrency
In a recent discussion on Fox Business, Howard Lutnick, the CEO of Cantor Fitzgerald, addressed the regulatory landscape surrounding Bitcoin, urging authorities to classify it similarly to traditional commodities like gold and oil. His remarks highlight a critical gap in understanding from the regulatory body, which has significant implications for the burgeoning digital asset market.
Hong Kong is making significant strides to align its over-the-counter (OTC) derivatives reporting framework with international standards, particularly in the burgeoning realm of crypto derivatives. This initiative, announced by the Hong Kong Monetary Authority (HKMA) and the Securities and Futures Commission (SFC), reflects a broader trend in global finance towards enhanced regulatory coherence and transparency.
In a decisive move aimed at enhancing the protection of investors in the burgeoning cryptocurrency market, Dubai’s Virtual Assets Regulatory Authority (VARA) has implemented updated marketing guidelines. Effective from October 1, these regulations are designed to promote transparency and minimize the risks associated with investing in virtual assets. As the popularity of digital currencies continues
In a significant move to enforce data protection regulations, South Korea’s Personal Information Protection Commission (PIPC) has laid down a hefty collective fine of KRW 1.14 billion (approximately $861,408) on Worldcoin and its affiliated entity, Tools for Humanity (TFH). Released on September 25, the PIPC’s announcement highlights the companies’ serious contraventions related to personal data
In a moment of clarity amid the often turbulent waters of cryptocurrency regulation, SEC Chair Gary Gensler affirmed that Bitcoin is not a security, reinforcing its classification as a commodity under U.S. law. His remarks, made in an interview on CNBC’s Squawk Box, highlight a pivotal stance in the ongoing discourse surrounding the digital asset
The Australian financial landscape is undergoing a pivotal transformation as the Australian Securities and Investments Commission (ASIC) gears up to enforce a licensing framework for cryptocurrency service providers. This shift comes in response to escalating concerns about consumer protection amid a surge in fraudulent activities associated with digital assets. On September 23, ASIC Commissioner Alan