Regulation

Adding to the existing regulatory hurdles for the crypto ecosystems, California Governor Gavin Newsom refused to sign a bill that would establish a licensing and regulatory framework for digital assets. Assembly Bill 2269 sought to allow the issuance of operational licenses for crypto companies in California. On Sept. 1, California State Assembly passed the bill

The long-awaited cryptocurrency regulation framework released by President Joe Biden’s Treasury Department this month attempted to outline a plan for managing the burgeoning crypto industry. Unfortunately, the department’s assessment failed to embody more substance than a mere mission statement. While Biden’s administration appears to be taking a “whole-of-government approach” toward overseeing the decentralized finance (DeFi)

An international law firm representing groups of Celsius investors has filed a motion to appoint a committee to represent their interests in the crypto lending firm’s bankruptcy case. In a Thursday filing with the U.S. Bankruptcy Court in the Southern District of New York, lawyers with the law firm Milbank requested the appointment of an

The Moscow Exchange (MOEX) is drafting a bill to allow trading in digital financial assets (DFAs) and securities based on them, according to a report in the Russian press. The stock exchange is writing the bill on the behalf of the Russian Central Bank, which does not have the power to introduce legislation, Vedomosti newspaper

Members of the United States House of Representatives and Senate as well as Supreme Court justices currently trading cryptocurrencies may have to stop HODLing while in office should a bill get enough votes. According to a framework released on Thursday, chair Zoe Lofgren of the Committee on House Administration — responsible for the day-to-day operations

Digital asset data analytics company Inca Digital will study the implications of digital assets for national security under a year-long contract with the Defense Advanced Research Projects Agency (DARPA), the company announced on Friday. DARPA is the R&D branch of the United States Department of Defense.  Inca Digital will work on a project called “Mapping

With the crypto community growing bigger and as trading volumes reach new highs, the United States is also making more effort to ensure that its Internal Revenue Service (IRS) could properly collect cryptocurrency tax.  U.S. Attorney Damian Williams, Deputy Assistant Attorney General David Hubbert and IRS Commissioner Charles Rettig announced that U.S. judge Paul Gardephe

Australian crypto entrepreneur and investor Fred Schebesta has described the Australian government’s prioritization of token mapping as “wonderful,” but warns that rushing it could lead to detrimental effects on the economy. Schebesta’s comments come after Australian Treasurer Jim Chalmers released a statement on Aug. 22 stating that the “treasury will prioritize token mapping work” in

According to regional news outlet mk.co.kr, the South Korean government has seized over 260 billion Korean won ($180 million) worth of cryptocurrencies over the past two years due to tax arrears. The country’s politicians enacted regulations allowing for the seizure of digital currencies for tax delinquencies and began enforcing them last year. One individual living

Cryptocurrency adoption continues growing in the Kingdom of Bahrain, with local companies enabling payments in crypto like Bitcoin (BTC). EazyPay, an online payment platform regulated by the Central Bank of Bahrain (CBB), has partnered with Binance Pay to enable crypto payments in the country, EazyPay CEO and founder Nayef Tawfiq Al Alawi announced on Wednesday.

Crypto exchange Binance received a Minimal Viable Product (MVP) license from Dubai’s Virtual Asset Regulatory Authority (VARA), enabling the crypto exchange to offer a range of virtual asset services to qualified retail and institutional investors, the company disclosed on Tuesday. The development follows the issuance of the provisional license granted in March, which permitted the

Jerry Sambuaga, the deputy minister of Indonesia’s Ministry of Trade, has proposed a rule that would require the leadership at the country’s crypto exchanges to be more representative of its citizens.  In a Tuesday parliamentary meeting that included Indonesian regulatory officials, a letter submitted by Sambuaga suggested several policy changes in response to the “interesting

A former head of risk at Credit Suisse believes the next crypto bull market will stem from “regulatory clarity” in the United States, which he expects to happen in early 2023. Speaking to Cointelegraph, the former head of valuation risk at Credit Suisse, CK Cheng, said some of the regulatory efforts underway in the United

Draft legislation in the United States House of Representatives would place a two-year ban on new algorithmic stablecoins such as TerraClassicUSD (USTC) which de-pegged from the US dollar earlier this year causing widespread crypto market contagion. The bill would criminalize the creation or issuance of new “endogenously collateralized stablecoins,” according to a current draft of

Insurance is key for financially securing important assets. Yet, the cryptocurrency sector — which is predicted to reach a global market size of $4.94 billion by 2030 — may be lagging behind when it comes to insuring digital assets.  For instance, it’s been noted that less than 1% of all crypto investments are currently insured.

A new bill demanding a congressional notification prior to payments of the United States Department of State (DOS) rewards using cryptocurrencies surfaced as the U.S. Congress raised concerns about the evasion of sanctions. The Rewards for Justice Program, a counterterrorism rewards program run by the Secretary of State, offers rewards for information that prevents international

Modern parents are going to need to keep an even closer eye on their kids’ gaming habits, as some of them may be accumulating a hefty tax bill, according to a crypto tax specialist. Speaking to Cointelegraph during last week’s Australian Crypto Convention, Adam Saville-Brown, regional head of tax software firm Koinly said that many

A Russian Finance Ministry official has provided new details about a bill on digital currencies, whicht is currently being drafted. The bill provides local infrastructure for settlements and regulation on mining, but will leave many details for businesses to work out on their own, the Finance Ministry’s Financial Policy Department head Ivan Chebeskov said Monday

Australian Liberal Senator Andrew Bragg has released a new draft bill aimed at clamping down on digital asset exchanges, stablecoins, and China’s central bank digital currency, the e-Yuan. In a statement on Sept. 18, Senator Bragg stated that “Australia must keep pace with the global race for regulation on digital assets” as “it is essential that

Following President Joe Biden’s executive order on Ensuring Responsible Development of Digital Assets, federal agencies came up with a joint fact sheet on six principal directions for crypto regulation in the United States. It sums up the content of nine separate reports, which have been submitted to the president to “articulate a clear framework for