In legally ambiguous and vague language, Gemini repeatedly told its customers that funds were FDIC-insured, giving them false hope that their money was safe.
The plans by the HM Treasury are intended to make the U.K. a digital asset hub while giving due recognition to the risk they pose to investors and the wider financial system.
The Central Bank of Nigeria has called on innovators in the fintech space to apply with the recently launched regulatory sandbox, with Ghana’s central bank announcing a similar project.
NFT firms in China are mandated to register before offering their products to the public—a move claimed will prevent the misuse of the asset class and promote the development of the space.
Once data enters Bitcoin, it becomes public; yes, we can encrypt it, but we keep track of it because Bitcoin transaction is publicly available, reducing fraud, corruption, and worse.
If approved, the new virtual currency legislation aims to make Panama "compatible with the digital economy, blockchain, crypto assets, and the internet."
A private placement is the sale of securities to pre-selected, accredited investors as opposed to an offering on public markets (such as via an IPO).
EU legislators voted in favor of a draft bill that seeks to impose new prohibitive measures to curtail banks’ involvement with “unstable” digital assets.
The FCA revealed that 5% of firms that had applied for authorization were accepted on the first attempt, while 85% were rejected for failing to meet the minimum AML and terrorist financing standards.
The new regulation signed into law on January 12 indicates that digital assets could be treated as securities, which meant they would be subject to securities-related mandates and restrictions.
More stringent regulations may be heading toward the Philippines after the SEC bares its plan to ramp up surveillance of the digital asset sector amid a series of Ponzi scam reports.