Tag: Regulation

El Salvador Approves Digital Assets Issuance Law – Regulation Bitcoin News

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The Legislative Assembly of El Salvador approved the Digital Assets Issuance Law, a framework that will allow the country to issue crypto-related debt instruments. The approved law, which was passed thanks to the majority that President Nayib Bukele has in Congress, serves as a base for the issuance of the long-expected volcano bonds. El Salvador Passes Digital Bond Law El Salvador has taken another step in the way of integrating blockchain technology with the financial operations of the state. The Legislative Assembly finally passed the Digital Assets Issuance Law, which…

SEC Charges Genesis and Gemini — Winklevoss Says Regulator’s Lawsuit Is ‘Super Lame’ – Regulation Bitcoin News

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The U.S. Securities and Exchange Commission (SEC) has charged crypto exchange Gemini and crypto lender Genesis Global Capital, a subsidiary of Digital Currency Group (DCG). “Through this unregistered offering, Genesis and Gemini raised billions of dollars’ worth of crypto assets from hundreds of thousands of investors,” the SEC alleged. SEC Takes Action Against Gemini and Genesis The U.S. Securities and Exchange Commission (SEC) announced Thursday that it has charged Genesis Global Capital LLC and Gemini Trust Company LLC “for the unregistered offer and sale of securities to retail investors through…

Cryptocurrency Exchanges Still Fighting Private Banks for Right to Open Bank Accounts in Chile – Regulation Bitcoin News

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The conflict between banks and cryptocurrency exchanges in Chile is still developing, as some banks are reticent to serve this kind of institution. A new report prepared by exchanges reports that most of these banks refuse to include crypto companies as customers for risks that are nevertheless managed in the case of servicing other kinds of customers. Cryptocurrency Exchanges Still Fighting Banks in Chile Cryptocurrency exchanges and other crypto-related companies are still fighting private banks for the right to open and manage bank accounts in Chile. The legal fight, which…

Binance Now Authorized in 7 EU Countries — Sweden Becomes Latest Member State to Give Approval – Regulation Bitcoin News

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Crypto exchange Binance is now legal to operate in seven European countries following the latest approval by Sweden’s financial regulator. Overall, Binance has been approved to operate in 15 jurisdictions, including seven EU countries. Binance Approved to Operate in 7 EU Countries Cryptocurrency exchange Binance announced Thursday that its Swedish entity, Binance Nordics AB, “has been granted registration as a financial institution for management and trading in virtual currency by the Swedish Financial Supervisory Authority (Swedish FSA).” Binance explained: Sweden becomes the seventh EU Member State in which Binance has…

Ex-Coinbase Manager’s Brother Sentenced to Prison in Crypto Insider Trading Case – Regulation Bitcoin News

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A former Coinbase employee’s brother has been sentenced to 10 months in prison in what the U.S. Department of Justice (DOJ) called a “groundbreaking cryptocurrency insider trading case.” ‘Groundbreaking’ Crypto Insider Trading Case The U.S. Department of Justice (DOJ) announced Tuesday that Nikhil Wahi “was sentenced to 10 months in prison” in a “groundbreaking cryptocurrency insider trading case.” He pled guilty to one count of conspiracy to commit wire fraud. The Justice Department explained that Wahi was sentenced “for his participation in a scheme to commit insider trading in cryptocurrency…

Despite SEC Objection, Court Greenlights Billion-Dollar Asset Purchase Deal Between Binance US and Voyager – Regulation Bitcoin News

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The asset purchase agreement between Binance US and bankrupt crypto lender Voyager Digital has reportedly received initial court approval despite objections from various regulators, including the U.S. Securities and Exchange Commission (SEC). Court Lets Binance US Buy Voyager’s Assets The proposed asset purchase deal between the U.S. arm of cryptocurrency exchange Binance (Binance US) and bankrupt crypto lender Voyager Digital reportedly received initial court approval Tuesday. The court greenlighted the deal despite objections by the U.S. Securities and Exchange Commission (SEC) and a number of state securities regulators. In addition,…

The Fed Will Keep Focusing on Crypto — Fed Governor Says ‘We Do Not Want to Hinder Innovation’ – Regulation Bitcoin News

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Federal Reserve Governor Michelle Bowman says while “cryptocurrency activities can pose significant risks,” the Fed does not want to “hinder innovation.” She added: “By inhibiting innovation, we could be pushing growth in this space into the non-bank sector, leading to much less transparency and potential financial stability risk.” Fed Governor on Crypto, US Economy, and Inflation Michelle Bowman, a member of the Board of Governors of the Federal Reserve System, talked about cryptocurrency, the U.S. economy, and the Fed’s effort to lower inflation Tuesday at a Florida Bankers Association Leadership…

Brazilian Cryptocurrency Law Likely to Be Reviewed by Lula’s Government – Regulation Bitcoin News

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The recently approved Brazilian cryptocurrency law will likely be reviewed and revised by the newly inaugurated government of Luis Inacio “Lula” Da Silva. According to statements made by the former rapporteur of the law, Expedito Netto, the new government will likely review the law to include some issues that were left behind for its approval. Brazilian Crypto Law Still Not Final, Former Rapporteur States The recently sanctioned Brazilian cryptocurrency law will likely be reviewed by the newly appointed congress of the country, according to statements made by its former rapporteur,…

US Arrests ‘Mutant Ape Planet’ NFT Creator in $3M ‘Rug Pull’ Scheme to Defraud Crypto Investors – Regulation Bitcoin News

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The U.S. government has arrested and charged the creator of “Mutant Ape Planet” non-fungible tokens (NFTs) for allegedly defrauding crypto investors. “The purchasers were ‘rug pulled,’” the Department of Justice (DOJ) described, adding that millions of dollars in cryptocurrency were diverted for the NFT creator’s personal benefits. DOJ Takes Action Against NFT Rug Pull Scheme The U.S. Department of Justice (DOJ) announced Thursday that Aurelien Michel has been charged with “defrauding purchasers of ‘Mutant Ape Planet’ NFTs, a type of digital asset, of more than $2.9 million in cryptocurrency.” The…