Regulation

Bybit, one of the world’s top cryptocurrency derivatives exchanges, will halt some of its services to South Korean users ahead of a licensing deadline. The exchange officially announced on Friday that it will discontinue Korean language support from its platforms as well as its official South Korean community on social media. The suspensions will take effect

The Texas State Securities Board has filed for a hearing with the potential to impose a cease and desist order against crypto lending firm Celsius Network for not offering security licensed at the state or federal level, while the New Jersey Bureau of Securities has ordered the platform to stop offering and selling interest-earning cryptocurrency

Maxime Bernier, founder and leader of the People’s Party of Canada, has said he supports the adoption of cryptocurrencies in the country. In a Sept. 14 tweet, Bernier said cryptocurrencies were “another new and innovative way” to counter the actions by central banks, which he claimed were “destroying our money and economy.” The Canadian politician

This weekly roundup of news from Mainland China, Taiwan, and Hong Kong attempts to curate the industry’s most important news, including influential projects, changes in the regulatory landscape, and enterprise blockchain integrations. Regulatory noise In this week’s column, the Man in Shanghai is determined to squeeze all of the regulatory noise into one section, so

On Wednesday, speaking at a meeting of the Exchequer Club — which is a group of senior economic and financial policy professionals headquartered in Washington, D.C. — Acting Comptroller of the Currency Michael Hsu delivered remarks on the topic of safeguarding trust in banking. In the speech, Hsu named reducing inequality, adapting to digitalization, acting on climate

Bitcoin detractors and those protesting the policies of El Savador President Nayib Bukele have destroyed a crypto kiosk in the nation’s capital city. News outlet Teleprensa and others posted videos on social media showing a Chivo-supported kiosk in San Salvador burning amid a crowd of journalists and protesters on Wednesday. The Bitcoin (BTC) machine, one

The Central Bank of the Republic of Turkey (CBRT) has made a major step forward with a research and development project that could see the Turkish lira go digital. On Wednesday, CBRT announced the signing of memoranda of understanding with three domestic research and technology companies that will form the “Digital Turkish Lira Collaboration Platform.”

Democratic Senator Elizabeth Warren, known by many as an outspoken cryptocurrency skeptic in the United States government, criticized outages at exchanges and high transaction fees during periods of price volatility. In a Tuesday hearing of the Senate Committee on Banking, Housing, and Urban Affairs with Securities and Exchange Commission chair Gary Gensler, Warren claimed the

The Republic of Uzbekistan will never adopt cryptocurrencies like Bitcoin (BTC) as a payment method, according to a central bank official. Behzod Khamraev, deputy chairman of the Central Bank of Uzbekistan (CBU), predicted that local authorities will never allow residents to use Bitcoin as payment, alleging that BTC is backed by nothing. In an interview

The United States Securities and Exchange Commission (SEC) has charged three of Chinese billionaire Guo Wengui’s companies over an initial coin offering (ICO) and initial public offering (IPO) that fetched around $487 million combined. The infamous Wengui, also known as Miles Kwok or Miles Guo, is an exiled Chinese businessman who currently resides in New

Too much is happening in the realm of crypto policy and regulation to leave the biggest developments of each week without a roundup and at least some conceptual reflection. Starting today, we are getting back to decoding crypto law and everything around it that is worth decoding. Who’s next to follow El Salvador? Eyeballs galore

The man behind a multi-million dollar cryptocurrency scam has pleaded guilty to fraud this week according to the U.S. Department of Justice. Ohio man Michael Ackerman could face up to 20 years inside following the guilty plea for defrauding investors in a crypto scam he orchestrated in 2017. The too good to be true scheme

Crypto lending products have come under scrutiny from security regulators in some jurisdictions across the United States. While these enforcement actions have come from agencies at the state level, there have been indications that the Securities and Exchange Commission (SEC) was also set to go on the offensive. Thus, it was perhaps unsurprising to see

The governor of the Bank of Mexico, Alejandro Díaz de León, dismissed Bitcoin’s (BTC) position as a reliable legal tender, citing price volatility as a major roadblock towards full-fledged adoption.  Governor Díaz de León said in a Reuters interview that Bitcoin’s position in today’s financial system resembles “a dimension of precious metals” when compared to

Facebook’s ambitious digital currency payment project Diem is yet to get off the ground despite concerted attempts to win over financial regulators. According to The Washington Post on Friday, Diem is facing difficulties smoothening regulatory wrinkles with senior policymakers in the Biden administration. Even with the full weight of Facebook’s significant lobbying power in Washington,

Crypto regulation has become an increasingly relevant topic over the past several years. To address these legal ins and outs amid the ever-changing regulatory waters, VC firm Andreessen Horowitz has called upon a previous leader of the United States Commodity Futures Trading Commission’s, or CFTC, to join its team. “As part of our larger effort

As if he didn’t have enough to do, Gary Gensler appeared before the European Parliament on Sept. 1 to share his policy recommendations regarding the regulation of crypto assets and other matters. While the United States Securities and Exchange Commission Chair made clear that he was presenting his own views — not those of the

El Salvador’s move to embrace Bitcoin has ruffled the feathers of bond investors, with yields spiking as investors signal uncertainty for the emerging economy. A Sept. 8 report published by Bloomberg notes the yield curve on El Salvador’s bonds has recently inverted, meaning bonds with short-term maturities are now yielding more than is due from

United States-based cryptocurrency exchange CrossTower is expanding operations to India despite the ongoing legal uncertainty over local crypto regulation. CrossTower has set up a local division in India and launched a cryptocurrency trading platform to capture the growing multi-billion-dollar market, Reuters reported Monday. CrossTower India has already onboarded 35 employees and is looking to expand its

A U.S. District Judge has dismissed amended racketeering allegations brought by traders against the parent company of derivatives exchange BitMEX, HDR Global trading, noting that many of the plaintiff’s accusations had been copy and pasted from a different lawsuit filed against the platform. On Sept. 7, Judge William Orrick dismissed the plaintiff’s claims that BitMEX