On January 31, the UK Treasury initiated a pivotal amendment to the Financial Services and Markets Act (FSMA) 2000, specifically designed to redefine the regulatory landscape surrounding crypto staking. This legislative change heralds a significant shift: staking activities involving key cryptocurrencies like Ethereum (ETH) and Solana (SOL) will now be excluded from the classification of
Regulation
As Gary Gensler prepares to step down as the Chair of the Securities and Exchange Commission (SEC), his tenure has been marked by significant friction with the cryptocurrency industry. In a recent interview with Bloomberg, Gensler reiterated his position regarding the pervasive issues within the crypto space, characterizing it as a domain “rife” with malefactors.
In a pivotal move, South Korea is on the verge of relaxing its stringent regulations surrounding cryptocurrency trading for institutional investors. This announcement, originally reported by Yonhap on January 8, promises to reshape the digital asset regulatory framework in South Korea. The country’s Financial Services Commission (FSC) is set to implement phased reforms, thereby broadening
Rostin Behnam, the Chair of the U.S. Commodity Futures Trading Commission (CFTC), is set to vacate his position on January 20, coinciding with the inauguration of President-elect Donald Trump. This transition raises significant questions about the regulatory landscape for cryptocurrencies in the United States. Behnam’s resignation is more than just a personnel change; it signals
In a significant move that has raised eyebrows within the cryptocurrency community, Banco de Investimentos Globais (BiG), a major Portuguese bank, has decided to block fiat transfers to cryptocurrency platforms. This decision was publicized by José Maria Macedo, the co-founder of Delphi Labs, who shared a notification indicating that this policy change is in accordance
In an intriguing twist of events, a recent survey conducted by the Alternative Investment Management Association (AIMA) highlights significant banking challenges faced by hedge funds operating within the crypto sector. According to a report from The Wall Street Journal dated December 20, around 120 out of 160 surveyed hedge funds, constituting approximately 75%, reported facing
The impending implementation of the Markets in Cryptoassets (MiCA) regulation in the European Union has triggered a wave of anxiety among market participants. Scheduled to fully take effect on December 30, the new framework introduces stringent requirements aimed at improving transparency and curbing illicit financial activities in the crypto market. Specifically, MiCA mandates that stablecoin
In a notable pivot to align itself with evolving regulatory frameworks, Tether has made significant strides by investing in StablR, a European stablecoin issuer. This investment emerges against the backdrop of impending implementation of the European Union’s Markets in Crypto-Assets Regulation (MiCA), which enforces rigorous compliance requirements for stablecoin issuers operating across Europe. Tether’s strategic
Tether, the issuer of the USDT stablecoin, has made waves in the cryptocurrency market by significantly increasing its Bitcoin holdings. Recent data from Arkham Intelligence revealed that Tether acquired a staggering 7,629 BTC, valued at around $705 million. This strategic purchase boosts Tether’s total Bitcoin assets to 82,983 BTC, collectively worth approximately $7.68 billion. As
In light of the complexities surrounding cryptocurrency taxation, the Internal Revenue Service (IRS) has recently implemented a temporary relief measure concerning the cost-basis reporting rules for digital asset transactions. This initiative serves as a crucial acknowledgment by the agency of the myriad challenges that investors face in a rapidly evolving market. The most significant change