Tag: Regulation

South Korean Prosecutors Issue Arrest Warrant for Terraform Labs CEO Do Kwon – Regulation Bitcoin News

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A warrant for the arrest of Do Kwon and five others has reportedly been issued by prosecutors in South Korea. The prosecutors allege that Kwon and his co-accused violated the country’s capital markets law. In addition to the arrest warrant, prosecutors will reportedly request an Interpol red notice for the Terraform Labs chief executive officer. Terraform Labs Executives Accused of Violating South Korean Capital Markets Law Prosecutors in South Korea have reportedly issued an arrest warrant for Terraform Labs co-founder and chief executive officer Do Kwon. The prosecutors allege that…

Abu Dhabi Global Market Financial Regulator Unveils Virtual Asset Regulation ‘Guiding Principles’ – Regulation Bitcoin News

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Abu Dhabi Global Market’s financial regulator, the Financial Services Regulatory Authority (FSRA), recently unveiled six principles that will guide its “approach to virtual asset regulation and supervision.” Though not legally binding, the principles, according to the FSRA, must be “viewed as a complement to the comprehensive detail of our published framework.” A ‘Basis for Regulatory Cohesion Across Jurisdictions’ Abu Dhabi Global Market (ADGM), a financial center and global free zone based in the United Arab Emirates (UAE), recently unveiled six guiding principles for virtual asset regulation and supervision. The principles,…

Former Coinbase Manager’s Brother Pleads Guilty in Cryptocurrency Insider Trading Case – Regulation Bitcoin News

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The brother of a former Coinbase product manager has pleaded guilty in a cryptocurrency insider trading case. According to the U.S. Department of Justice (DOJ), he is facing up to 20 years in federal prison. DOJ’s First Crypto Insider Trading Case The U.S. Department of Justice (DOJ) announced Monday that Nikhil Wahi, the brother of a former product manager at Coinbase Global Inc. (Nasdaq: COIN), “pled guilty to one count of conspiracy to commit wire fraud in connection with a scheme to commit insider trading in cryptocurrency assets.” The DOJ…

Head Trader of $100M Global Crypto Ponzi Scheme Pleads Guilty in US – Regulation Bitcoin News

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The head trader of a $100 million global cryptocurrency Ponzi scheme has pleaded guilty and is facing up to five years in prison, according to the U.S. Department of Justice (DOJ). “The defendants allegedly misappropriated large sums of investors’ money to lease a Lamborghini, shop at Tiffany & Co., make a payment on a second home, and more.” Empiresx’s Head Trader Pleads Guilty The U.S. Department of Justice (DOJ) announced Thursday that Joshua David Nicholas has pleaded guilty for his role as the “head trader” in a “global cryptocurrency investment…

Uruguay Introduces Cryptocurrency Law in Parliament – Regulation Bitcoin News

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A new cryptocurrency bill project was introduced by the executive power to the Parliament of Uruguay. The bill seeks to clarify how crypto assets will be regulated in the country, giving the Central Bank of Uruguay competence over cryptocurrency assets, modifying its organic charter, and introducing the Superintendence of Financial Services as the organization to oversee virtual asset service providers. Uruguayan Executive Power Proposes Crypto Bill The executive power in Uruguay has presented a bill project to the parliament of the country with the objective of clarifying how cryptocurrency asset-related…

Gary Gensler Asks SEC Staff to Fine-Tune Crypto Compliance — Says ‘Vast Majority Are Securities’ – Regulation Bitcoin News

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The chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, revealed that he has asked staff at the SEC to fine-tune compliance for crypto tokens and intermediaries. He emphasized that the vast majority of crypto tokens are securities. SEC Chairman Gary Gensler on Crypto Regulation Gary Gensler, the chairman of the U.S. Securities and Exchange Commission (SEC), talked about crypto regulation and compliance at the Practising Law Institute’s SEC Speaks conference Thursday. Noting that the core principles of the SEC’s statutes apply to all securities markets, including securities…

Bitcoin Holds Steady Above $21K; DeFi Platform Forward’s $5M Funding Round Highlights Crypto’s Growth in Thailand, but Regulation Lags

While noting bitcoin’s encouraging rebound from $18,500 earlier in the week, Joe DiPasquale, CEO of crypto asset manager BitBull Capital also said that such resurgences have not been unusual for cryptos during down markets. “While bulls will welcome this bounce, it is important to note how continued bearish price action has intermittent relief rallies, especially as short position holders take profit,” he said. Source

Brazilian Securities Watchdog Demands Changes in Cryptocurrency Bill – Regulation Bitcoin News

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The new directive of the Brazilian securities watchdog, the CVM, is now demanding specific changes to the cryptocurrency bill pending discussion in Congress. The organization wants to correct a loophole in the current document in which some tokens would not be considered securities, including tokenized physical goods and carbon credits. Brazilian CVM Presses for Changes in Current Cryptocurrency Bill The Brazilian securities watchdog, the CVM, is pressing for changes in the cryptocurrency bill that will clarify how virtual assets will be treated in the country. The new directive…

US SEC Sets Up Dedicated Office to Review Crypto Filings – Regulation Bitcoin News

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The U.S. Securities and Exchange Commission (SEC) is setting up a dedicated office to review crypto-related filings. The securities regulator stressed the need to “provide greater and more specialized support” for crypto assets. SEC’s Dedicated Crypto Office The U.S. Securities and Exchange Commission (SEC) announced Friday its plan to establish two new offices to review filings. One is an “Office of Crypto Assets” and the other is an “Office of Industrial Applications and Services,” the regulator said, adding that it expects both to be set up later this fall. The…