ESMA’s proposed regulations under the Markets in Crypto Assets Regulation (MiCA) have been met with criticism from Paradigm, a leading firm in the crypto industry. One of the main concerns raised by Paradigm is the misinterpretation of Maximum Extractable Value (MEV) by ESMA. MEV plays a crucial role in the operation of DeFi ecosystems, allowing
Regulation
Recently, the crypto trading platform Abra and its CEO, William “Bill” Barhydt, reached a settlement with 25 US state regulators. The regulators accused Abra of offering crypto trading services without proper licenses, resulting in a violation of state regulations. This settlement marks a significant development in the crypto space, highlighting the increasing scrutiny and regulation
Nigeria’s Securities and Exchange Commission (SEC) has recently given a 30-day ultimatum to crypto exchanges and digital asset traders to re-register their businesses. The warning includes enforcement actions against those who fail to comply with the new regulations. This initiative is a part of the Accelerated Regulatory Incubation Program (ARIP) for Virtual Assets Service Providers
Louisiana Governor Jeff Landry recently signed a groundbreaking bill, HB 488, aimed at protecting the rights of individuals and businesses involved in cryptocurrency transactions. The bill specifically prohibits central bank digital currencies (CBDCs) and ensures the safeguarding of crypto mining activities. One of the key provisions of the bill is the guarantee that individuals and
Coinbase, a prominent player in the cryptocurrency market, is facing potential regulatory challenges due to its adoption of new FASB accounting rules. These rules, which were established in 2023 and are set to become mandatory in 2025, shift the accounting and disclosure practices for digital assets to a fair-value model from a cost-less-impairment model. According
Ripple is facing legal challenges as a US judge in California has given the green light to a lawsuit against the company. The lawsuit alleges that the CEO of Ripple, Brad Garlinghouse, made misleading statements that may have led investors to invest in the digital asset XRP. The case is set to go to trial,
The US Commodity Futures Trading Commission (CFTC) recently launched an investigation into Jump Crypto, a significant player in the DeFi space, for reasons that have not yet been disclosed. According to Forbes, the federal agency is looking into the firm’s trading and investment activities in the crypto sector. Despite this scrutiny, there have been no
The recent announcement by the SEC regarding Ethereum 2.0 has brought about a significant shift in the cryptocurrency market. The SEC has closed its investigation into Ethereum 2.0 and has determined that sales of ETH are not securities transactions. This decision follows a letter from Consensys seeking clarity on the classification of ETH, which was
The US Securities and Exchange Commission (SEC) has expressed apprehensions over the status of Circle’s stablecoin, USDC, as the company moves forward with plans to go public in a multi-billion dollar initial public offering (IPO). This information was reported by Barron’s on June 18, citing regulatory documents that shed light on the SEC’s concerns regarding
Recently, there have been reports circulating about the Financial Supervisory Service (FSS) of South Korea instructing registered crypto exchanges to evaluate the tokens listed on their platforms. This directive is in line with the Virtual Asset User Protection Act, which requires exchanges to adhere to strict compliance measures and regularly assess the tokens they list.