Nigeria’s Securities and Exchange Commission (SEC) has recently issued a 30-day ultimatum for crypto exchanges and digital asset traders to re-register their businesses. This ultimatum is part of the Accelerated Regulatory Incubation Program (ARIP) for Virtual Assets Service Providers (VASPs) initiated by the SEC. Despite facing challenges such as a two-year ban on banks facilitating
Regulation
Louisiana Governor Jeff Landry recently signed bill HB 488 into law, sparking a debate over the implications of banning central bank digital currencies (CBDCs) and protecting crypto mining. The bill prohibits governing authorities from accepting or requiring payments in CBDCs, while also safeguarding individuals and businesses’ ability to accept crypto for legal goods and services.
Coinbase, a popular cryptocurrency exchange platform, is potentially facing regulatory challenges due to its compliance with new Financial Accounting Standards Board (FASB) accounting rules. These new rules shift the accounting and disclosure for cryptocurrencies to a fair-value model from a cost-less-impairment model, according to a report by MarketWatch. The FASB agreed upon these rules in
The recent news of Kanav Kariya’s resignation as the President of Jump Crypto has sparked a wave of speculation and uncertainty in the digital assets industry. Kariya’s departure comes only four days after reports emerged regarding an investigation by the Commodity Futures Trading Commission (CFTC) into Jump Trading subsidiary’s activities. This sudden development has left
Ripple finds itself entangled in a new legal battle as a US judge in California has approved a lawsuit against the crypto company. The lawsuit revolves around alleged misleading statements made by Ripple’s CEO, Brad Garlinghouse. This recent development indicates that the case will proceed to trial, where a jury will determine whether Garlinghouse misled
The US Commodity Futures Trading Commission (CFTC) has launched an investigation into Jump Crypto, as reported by Forbes on June 20. The reasons for this probe remain undisclosed, leaving many to speculate on the nature of the agency’s concerns. While the investigation focuses on Jump’s trading and investment activities in the crypto sector, it is
The recent announcement by the SEC regarding the closure of its investigation into Ethereum 2.0 has been met with enthusiasm within the Ethereum community. This decision comes after a letter from Consensys seeking clarity, and it signifies a major win for Ethereum developers, technology providers, and industry participants. The Enforcement Division of the SEC confirmed
The US Securities and Exchange Commission (SEC) has expressed concerns regarding Circle’s stablecoin, USDC, as the company moves towards a multi-billion dollar initial public offering (IPO). According to Barron’s, regulatory documents indicate that the SEC’s primary worries revolve around the possibility of USDC and other stablecoins being classified as securities under US law. This is
Recent reports regarding the South Korean Financial Supervisory Service (FSS) have brought to light the regulatory measures being taken with regards to digital assets on local crypto exchanges. The FSS has made it clear that it is not directly involved in the listing or delisting of virtual assets on exchanges, but rather focuses on establishing
David Hirsch, the chief of crypto asset enforcement at the SEC, recently announced his departure from the agency after serving almost nine years in various roles. Hirsch expressed pride in the work done by the Crypto Assets and Cyber Unit team under his leadership. Hirsch took over as the head of the SEC’s Crypto Asset