Nigeria’s Bureau de Change operators urge government to ban Binance
Bureau de change operators in Nigeria say trading on Binance has put significant pressure on the naira at a time when the local currency has been struggling.
Latest regulation News
Oman moves closer to finalizing digital asset framework
The CMA is urging feedback from the public until August 17 about the proposed digital asset framework centered on regulating VASPs as Oman catches up with neighbors in welcoming digital currencies.
UK ramps up its ‘crypto’ crime division
The National Crime Agency is hiring digital asset investigators in the crypto crime division it launched in January as it seeks to stamp out crime from the growing sector.
Hong Kong regulator warns exchanges against misleading licensing claims
Some exchanges have been lying about submitting licensing applications in Hong Kong, a crime that could land them in prison for seven years, according to the Securities and Futures Commission.
Russian banks want legislation to prevent compulsory digital ruble usage
Although Russia has said the digital ruble will be optional, banks want that embedded in legislation as they say their customers are wary of the upcoming state-backed digital currency.
Federal Reserve to oversee digital asset activities for US banks
Under a new program, the Federal Reserve will expand its oversight on novel banking activities like digital assets and other emerging asset classes.
US Federal Reserve issues stablecoin warning to banks
The U.S. Fed warned any state banks dealing with digital asset “Dollar Tokens,” or stablecoins, to obtain a written “supervisory nonobjection” before issuing, holding, or transacting in them.
India’s data privacy bill advances to ease compliance requirements of Big Tech firms
India's Digital Personal Data Protection Bill 2023 returned to parliament one year after it was withdrawn, and this time, it sailed through with minimal legislative headwinds.
University of the Philippines to launch AI regulations framework targeting privacy, employment issues
With the massive AI adoption, the University of the Philippines leads the AI ethics discourse to promote responsible use, deepfake prevention, privacy protection, and employment security.
Revolut halts US digital asset services, blames evolving regulations
Revolut says the move will only affect 1% of its customers and that users beyond the U.S. can still enjoy the services, but hopes to resume services in the country in the future.
UK progresses plans for systemic stablecoin regime
The U.K. Treasury’s response to a consultation updates proposals for a regulatory regime for systemic stablecoins, which would be supervised by the Bank of England and the Financial Conduct Authority.
Is Bitcoin (BSV) a Security?
The memo sets the starting point for considering whether Bitcoin is a security: it highlights a speech given by SEC Chairman Jay Clayton in 2018 where he said that Bitcoin does not qualify as a security because it functions as a replacement for currency.