Regulation

The tZERO Crypto exchange, whose majority owner is Overstock, will shut down on March 6, the company announced via Twitter on Feb. 3. The company says that it will continue to focus on its regulated securities products after the shutdown, as the United States Securities and Exchange Commission (SEC) and other regulators clarify the legal

Following the global regulatory race, Australia opened the public consultation on its own taxonomy of crypto assets. The national regulators propose to distinguish four major types of products related to the crypto industry.  On Feb. 3, the Australian Treasury released a consultation paper on “Token Mapping,” announcing it as a foundational step in the Government’s

Our weekly roundup of news from East Asia curates the industry’s most important developments. Huawei moves to trademark its NFTs According to a Jan. 28 report by Sina News, Chinese telecom giant Huawei has recently filed for eight trademarks related to its Huawei “YunYunBao” nonfungible tokens (NFT) series. The trademarks include digital collectibles in the

One of India’s biggest retail chains, Reliance Retail, announced that they have started accepting the digital rupee at one of its store lines and plans to extend the rollout to all its businesses.  In a report by Tech Crunch, the company said central bank digital currency (CBDC) support is already rolled out at Freshpik, its

A proposed class action suit against cryptocurrency exchange Coinbase, Coinbase Global and CEO Brian Armstrong alleging unregistered securities sales was dismissed in the United States District Court of Southern New York on Feb. 1. The suit, filed on March 11, claimed that 79 of the tokens listed on Coinbase were securities being sold without proper

Tether (USDT) — the world’s largest stablecoin by market capitalization — has never received any loan from the bankrupt cryptocurrency lender Celsius, according to the chief technology officer. Paolo Ardoino, CTO at Tether and Bitfinex crypto exchange, took to Twitter on Jan. 31 to announce that Tether has “never borrowed from Celsius.” The tweet came

Dennis Porter, chief executive officer of the Satoshi Action Fund, is taking the fight for hearts and minds on Bitcoin mining to Washington, D.C. and beyond in an effort to support friendly legislation. Porter, who first discovered Bitcoin (BTC) in 2017, told Cointelegraph his path on advocating the benefits of mining has taken him to

The United States Securities and Exchange Commission (SEC) admitted on record that the sale of LBRY tokens in the secondary market doesn’t constitute a security. The settlement came during an appeal hearing in the LBRY vs. SEC case on Jan. 30. LBRY Hearing: The Stakes for ALL Crypto https://t.co/YPbrBkw0Od — CryptoLaw (@CryptoLawUS) January 30, 2023

United States prosecutors in the criminal case against former FTX CEO Sam Bankman-Fried have released text and email messages from SBF to current CEO John Ray. In court documents released on Jan. 30, the Justice Department responded to a motion from Bankman-Fried’s legal team attempting to remove some of the proposed modifications for his bail

USD Coin (USDC) issuer Circle has released an accountant-verified report of its treasury reserve holdings backing more than $44.5 billion worth of tokens currently in circulation. Circle’s December 2022 reserve report, reviewed by Grant Thornton accountancy group, breaks down the current make-up of the stablecoin issuer’s reserve vault. According to Circle, 44,553,543,212 USDC is currently

Panama’s crypto bill saga has reached a new chapter, with the country’s Supreme Court set to decide the future of the local crypto industry. Panamanian President Laurentino Cortizo on Jan. 26 sent the crypto legislation passed last year to the high court for review, claiming the so-called “crypto bill” violates the constitution’s core principles and is unenforceable.

The Ministry of Justice in South Korea announced plans to introduce a crypto-tracking system to counter money laundering initiatives and recover funds linked to criminal activities. The “Virtual Currency Tracking System” will be used to monitor transaction history, extract information related to transactions and check the source of funds before and after remittance, according to

Top Stories This Week FTX creditor list shows airlines, charities and tech firms caught in collapse The complete list of creditors owed money by the bankrupt cryptocurrency exchange FTX has been released, revealing a wide range of global companies. Among the potential creditors are airlines, hotels, charities, banks, venture capital companies, media outlets and crypto

With the deadline approaching for filing the 2022 federal income tax return, the Internal Revenue Service (IRS) — an enforcement agency of United States federal tax laws — released a list of reporting requirements for the general public dealing with cryptocurrencies. Until 2021, the IRS used the term “virtual currencies” in income tax-related reporting forms,

The United States Federal Reserve Board announced Jan. 27 that it was issuing a policy statement on limitations on banks. The policy seeks to create a level playing field and limit regulatory arbitrage for state banks with deposit insurance, state banks without deposit insurance and national banks, which are overseen by the Office of the

Wendy Rogers, an Arizona state senator in the United States, has launched bills concerning cryptocurrency, including one that aims to make Bitcoin (BTC) legal tender in Arizona.  In a recent tweet, Rogers cited data from investment firm Goldman Sachs that BTC is the best-performing asset in the world and announced that she launched a set

Our weekly roundup of news from East Asia curates the industry’s most important developments. Bithumb in turmoil  On Jan. 25, Yonhap Infomax reported that South Korean authorities had requested an arrest warrant for Kang Jong-Hyun, chairman and owner of cryptocurrency exchange Bithumb, over embezzlement allegations. That same day, the Financial Investigation Second Division of the

De Nederlandsche Bank (DNB), the Dutch central Bank, fined cryptocurrency exchange Coinbase 3.3 million euros ($3.6 million), due to non-compliance with local regulations for financial service providers, according to a Reuters report on Jan 26.  The exchange reportedly failed to obtain the necessary registration to offer services in the Netherlands prior to beginning operations in

The administration of United States President Joe Biden is continuing to deveits National Digital Assets Research and Development Agenda. In a request for information (RFI) dated Jan. 26 and previewed by the Federal Register, the White House Office of Science and Technology Policy (OSTP) invites comments to help it identify agenda priorities. Individuals and organizations may

Bitcoin Cash (BCH) advocate Roger Ver has sued by a unit of crypto lending firm Genesis over unsettled crypto options amounting to $20.8 million.  GGC International, a part of the bankrupt crypto lender, filed the suit against Ver in the New York State Supreme Court on Jan. 23, claiming that the BCH proponent has failed to