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Regulations
Thailand’s SEC has updated its rules by removing retail investors’ limits for asset-backed tokens, creating new rules for custodians and giving them a larger role in monitoring digital asset business.
Last October, the Financial Crimes Enforcement Network proposed implementing a new regulatory regime for crypto mixing services that would treat the entire class of privacy tools as money laundering threats and force new recordkeeping rules on U.S. people or entities that use them. The industry had a chance to weigh in. Here’s the gist of their responses.
HyperVerse was a nearly $2 billion fraudulent crypto investment scheme with a fake CEO at its helm, the U.S. Securities and Exchange Commission (SEC) and a grand jury allege in a lawsuit and criminal indictments against two of its leaders.
After the 2008 global financial meltdown, Congress set up a round table of regulators who could wield a unique tool against the next emerging threats. The Financial Stability Oversight Council (FSOC) can tag companies with systemic-risk labels that saddle them with tremendous new restrictions, and the crypto sector has the council’s attention.
Venture Smart Financial Holdings is also aiming for a spot-bitcoin ETF and is involved in the discussions about the stablecoin sandbox.
In July it was ruled that Wright was only entitled to just 1 GBP in compensation for a libel claim against bitcoin podcaster Peter McCormack.
The U.S. Securities and Exchange Commission delayed an application by Grayscale Investments to convert its Ethereum trust product into an exchange-traded fund (ETF), a day after pushing back a decision on an application from BlackRock to launch an ether ETF.
Many respondents to the digital pound consultation said that they had concerns about privacy and control.
There’s a number of issues around privacy, financial inclusion, whether there’s limits, monetary policy and interest, James Bowler, Permanent Secretary of the Treasury said.
Earlier this week, a federal judge asked attorneys with the U.S. Securities and Exchange Commission why – “big picture” – there wasn’t any sort of uniting regulation addressing crypto.