Indonesia’s Finance Regulator Issues New Crypto Regulation to Strengthen Industry

Earlier this month, OJK has been teaming up with financial authorities from Malaysia, Singapore, and Dubai to build a comprehensive crypto policy. These international collaborations, including drafting Memorandums of Understanding with Malaysia’s Bank Negara, Singapore’s Monetary Authority, and Dubai’s Virtual Asset Regulatory Authority, aim to establish a solid framework for crypto policy. Source

Latam Insights: Argentina Arrests $400 Million Cryptocurrency Ponzi Scheme Founders, Brazil Defines Crypto Regulation as a Priority

Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news during the last week. In this issue: $400 million cryptocurrency Ponzi scheme founders were arrested in Argentina, the Central Bank of Brazil established cryptocurrency regulation as a priority, and the Argentine Fintech Chamber proposed crypto tax exemptions in Argentina. $400 […] Source

SEC Charges Shapeshift With Regulatory Violations, Sparking Debate on Crypto Regulation

The U.S. Securities and Exchange Commission (SEC) has leveled charges against Shapeshift AG, accusing the company of operating without proper registration. This case has ignited a broader conversation on the regulatory framework for crypto assets, with SEC Commissioners Hester Peirce and Mark Uyeda voicing their dissent and concerns about the SEC’s current approach toward crypto […] Source CryptoX Portal

Taiwan’s FSC to set cryptocurrency regulation by September

Taiwan plans to introduce a legislative framework for regulating cryptocurrencies by September of this year.  This initiative aims to bring strict measures against local and international cryptocurrency entities.  According to local reports, Huang Tianzhu, the Financial Supervisory Commission (FSC) chairman, emphasized the rising concern of fraudulent crypto-related activities, indicating that strict administrative penalties would be enforced on crypto exchanges and foreign currency merchants. Tianzhu also stressed that virtual assets bear no correlation to the real economy and highlighted the potential increase in investment disputes and risks associated with unregulated overseas…

Russia’s FATF Rating Downgraded Over Crypto Regulation Shortfalls

The Financial Action Task Force (FATF) has lowered Russia’s rating owing to insufficient oversight of cryptocurrencies, as indicated by regional coverage. According to RBC, this downgrade highlights escalating worries about the country’s capacity to oversee and mitigate dubious transactions within the rapidly expanding realm of digital finance. Russia’s Financial Strategy Challenged by FATF Downgrade The […] Source CryptoX Portal

The Catch-22 of U.S. Crypto Regulation

The SEC, moreover, hasn’t allowed any currently registered exchange or broker-dealer to list, custody or trade crypto tokens. The SEC’s view is that any registered institution willing to work with crypto tokens “could not deal in, effect transactions in, maintain custody of, or operate an alternative trading system for traditional securities.” Source

Report: Election Concerns Halt South Korea’s Crypto and ETF Regulation Ease

South Korea has delayed its efforts to relax its crypto regulations and the prohibition on spot bitcoin exchange-traded funds (ETFs). This development follows closely behind the People Power Party’s contemplation of removing certain regulations and the ETF ban before the commencement of South Korea’s general election. South Korea Holds Back on Crypto Regulation and Reported […] Source CryptoX Portal

What Reddit’s IPO Filing Says About Crypto Regulation

But it is possible, as one of the world’s largest websites, it would have liked to. After less than a year, Reddit decided to sunset its “Community Points” crypto rewards token pilot, which was hailed as a success at launch. While decentralization maxis live by the maxim that “not your keys, not your coins,” the simple reality is that key management is hard and that true self-custody likey can never scale for a platform as big as Reddit. Source

Trump warms up to Bitcoin, signals openness to regulation

Former President Donald Trump has recently showcased a notable shift in his stance toward Bitcoin, diverging from his historically critical view of cryptocurrencies. The change was particularly evident during his appearance on Fox News’ “The Ingraham Angle,” where he acknowledged the rising popularity of Bitcoin, especially among the youth and African American communities, despite his continued preference for the traditional currency, the dollar. Trump’s nuanced remarks signal an openness to the decentralized nature of Bitcoin, albeit with a nod toward the potential necessity for regulatory oversight. “Frankly, it’s taken a…