Regulation

United States-based crypto exchange Binance.US has reportedly hired a former enforcement official from the Securities and Exchange Commission (SEC) as part of the legal team to defend itself against allegations of operating as an unregistered securities exchange. According to a June 12 report from Bloomberg, Binance.US has hired former SEC enforcement co-director George Canellos with

British Prime Minister Rishi Sunak recently announced that Google DeepMind, OpenAI, and Anthropic — three tech outfits widely considered the global industry leaders in generative AI technologies — have agreed to provide the United Kingdom with early access to their AI models. Sunak made the announcement during a speech opening London Tech Week, an event

United States President Joe Biden and the Democratic Party risk losing its crucial youth voters as a result of its continued “war against crypto,” according to the Winklevoss twins. On June 10, co-founder of the crypto exchange Gemini, Cameron Winklevoss, tweeted the Democrats will “alienate an entire generation” of youth voters due to its war

The Solana Foundation took to Twitter to address for the first time the U.S. Securities and Exchange Commission’s classification of its native token, Solana (SOL), as a security.  “The Solana Foundation disagrees with the characterization of SOL as a security,” reads a statement from June 10, noting that it welcomes the engagement of policymakers to

With the rapid evolution and increasing adoption of cryptocurrencies, the need for regulatory clarity has become paramount. U.S. Senator Cynthia Lummis has said that her efforts to push for a positive regulatory framework are still in motion.  Senator Lummis garnered praise from the crypto community on Twitter as she shared her commitment to developing a

With its progressive stance on cryptocurrencies, Hong Kong’s legislator invites Coinbase and other crypto exchanges to establish operations in the region, fostering a favorable environment for the industry’s growth. Legislative Council member Johnny Ng took to Twitter, expressing support and offering assistance to crypto trading operators like Coinbase. He also hinted at potential stock listing

Top Stories This Week U.S. SEC sues Binance and Coinbase amidst crypto crackdown Binance and Coinbase have been targeted in a new round of lawsuits by the U.S. Securities and Exchange Commission (SEC) against crypto businesses. The regulator pressed 13 charges against Binance on June 5, including those involving unregistered offerings and sales of tokens,

Christian Anders, the CEO of Btc. x has said that despite the Markets in Crypto Assets (MiCA) being signed into law, the European Union (EU) might need to do a lot of more lobbying of different regulators in Europe and work with the different governments. In an interview with Cointelegraph, Anders noted that for the

On the eve of his departure from office, May 28, former President Muhammadu Buhari signed into law the Finance Act 2023.  The Act introduced a series of tax reforms aimed at modernizing the country’s fiscal framework. Among its provisions was the introduction of a 10% tax on gains from the disposal of digital assets, including

The allegations against Binance and Coinbase by the U.S. Securities and Exchange Commission have substantial ramifications for the decentralized finance (DeFi) ecosystem, and they are far from positive. DeFi has developed as a promising area within the crypto industry, aiming to disrupt established financial systems and deliver financial services in a decentralized manner. However, the

The crypto industry faced more scrutiny from regulators in the United States this past week, as the U.S. Securities and Exchange Commission (SEC) served both Coinbase and Binance.US with lawsuits regarding their operations.  Amid the accusations from regulatory officials, the members of the crypto community have spoken out against the behavior of the SEC while

Crypto venture capital firm Paradigm has slammed the U.S. Securities and Exchange Commission’s attempt to redefine the term “exchange” — which would if accepted, bring decentralized exchanges under its purview.  On June 8, the firm sent a lengthy 14-page letter to the SEC Secretary, Vanessa Countryman, regarding the regulator’s proposed redefinition of the term “exchange”

Alibaba NFTs… censored? On June 8, AliExpress, the online retail subsidiary of Chinese tech conglomerate Alibaba, announced that it had joined forces with Web3 developer The Moment3! to create a series of NFTs based on shopping themes. The upcoming collection will feature 5,555 NFTs and is scheduled to debut on June 25, 2023. Less than

The Financial Conduct Authority (FCA) announced today June 8, that starting from October 8, advertisers of crypto services in the United Kingdom will be subjected to stricter regulations. The U.K. watchdog has mandated that crypto companies in the U.K. implement a “cooling-off period” for first-time investors. Additionally, as part of measures to enhance investor awareness

Court filings have revealed the names of the two United States District Court Judges that will preside over the Coinbase and Binance lawsuits brought against them by the U.S. Securities and Exchange Commission. The case of SEC v Coinbase will be heard by District Court Judge Jennifer H. Rearden in the Southern District of New

Circle’s Singapore affiliate, Circle Internet Singapore, has received a Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS). Circle Singapore received in-principle MPI approval from MAS in November and opened its office in the city-state in May. An MPI license allows Circle to offer digital payment token services and domestic and cross-border

In the latest episode of The Market Report, analyst and writer Marcel Pechman discusses the impact of the United States Securities and Exchange Commission lawsuit against the Binance exchange. Most likely, the U.S. population will be barred from using the international version of Binance, and those who opt for VPN services will be at risk

The United States securities chair has hinted at “parallels” between crypto exchange Binance and collapsed exchange FTX — namely their alleged use of sister firms to move funds.  Speaking to Bloomberg on June 6, the U.S. Securities and Exchange Commission chair Gary Gensler, pointed to FTX’s alleged fraud and manipulation regarding its sister firm Alameda

“Coinbase has embraced regulation since we were founded over a decade ago,” the cryptocurrency exchange’s chief legal officer Paul Grewal told the United States Congress on June 6. “The SEC [Securities and Exchange Commission] allowed us to become a public company in April 2021, which makes us unique in the crypto industry.” Coinbase was sued

The United States Securities and Exchange Commission has filed a lawsuit against New York-based crypto exchange Coinbase for offering unregistered securities. The SEC lawsuit alleged that Coinbase has never registered as a broker, national securities exchange or clearing agency, evading the disclosure scheme for securities markets. SEC alleged that several tokens offered by the crypto exchange including