In a surprising turn of events, the Central Bank of Nigeria (CBN) has decided to lift the ban on cryptocurrency transactions in the country. The previous ban, which was put into effect in February 2021, aimed to combat money laundering and terrorism financing risks associated with crypto assets. However, the CBN has now announced through
Regulation
In a significant move for the cryptocurrency industry, stablecoin issuer Circle announced on December 21st that it had received conditional registration under France’s cryptocurrency laws. This development highlights the company’s commitment to responsible innovation in fintech and digital assets, as well as its recognition of France’s thriving entrepreneurial and financial ecosystem. Circle’s Regulatory Base in
The U.S. Securities and Exchange Commission (SEC) recently admitted to making inaccurate statements in an ongoing case against Debt BOX, a cryptocurrency firm accused of significant fraud. This admission by the SEC has raised concerns about the credibility and effectiveness of the regulator in handling such cases. The SEC acknowledged that its legal counsel unknowingly
The United Arab Emirates (UAE) is demonstrating its commitment to combatting money laundering and terrorist financing by updating its Anti-Money Laundering (AML) and sanctions rules. The Financial Services Regulatory Authority (FSRA) has announced new provisions specifically targeting digital assets. This move aligns the UAE with international standards, notably the Financial Action Task Force’s (FATF) Travel
U.S. Senator Roger Marshall recently made a surprising admission about the origin of the Digital Asset Anti-Money Laundering Act, which has been met with criticism from the cryptocurrency community. This revelation has sparked a heated debate among various stakeholders in the crypto industry. During a speech at the Parliamentary Intelligence-Security Forum, Senator Marshall disclosed that
The Central Bank of Ireland (CBI) has recently granted a license to Ripple’s Irish subsidiary, Ripple Markets Ireland Limited, as a registered Virtual Asset Service Provider (VASP). This milestone allows Ripple to offer specific digital asset services within Ireland and expand its operations to clients across the European Economic Area in the future. However, additional
BlackRock, a prominent asset manager, has recently submitted an updated amendment to its S-1 filing for the iShares Bitcoin Trust, which aims to launch a spot Bitcoin ETF. This latest filing includes significant changes and additions, reflecting progress made in the ongoing discussions between BlackRock and the U.S. Securities and Exchange Commission (SEC). One notable
The UK Treasury has recently presented the Digital Securities Sandbox (DSS) regulations to parliament. This set of rules aims to establish a controlled environment that enables companies and regulators to test new technology in financial markets. By overcoming existing regulatory obstacles, the UK government hopes to foster innovation in the crypto industry. The DSS regulations
Revolut, the digital banking and financial services company, has recently announced a temporary halt to its cryptocurrency trading services for business clients in the U.K. This decision comes as a response to projected regulatory modifications in the crypto industry. The Financial Conduct Authority (FCA) has introduced a series of new rules aimed at enhancing investor
In a recent development, Tether, the world’s largest stablecoin issuer, has taken a significant step towards combating illicit activities associated with stablecoins. The company has frozen 326 wallets, containing a total of $435 million worth of Tether (USDT), to assist U.S. law enforcement authorities, including the U.S. Department of Justice (DOJ), the Federal Bureau of