The United States Securities and Exchange Commission (SEC) is reportedly on the verge of approving spot Bitcoin exchange-traded funds (ETFs). This news comes as a relief to at least a dozen asset managers who have been eagerly awaiting the regulatory green light. According to sources, the SEC is expected to inform applicants of its decision
Regulation
A recent development has left the U.S. Securities and Exchange Commission (SEC) in turmoil. U.S. Congressman Warren Davidson, with the support of House Majority Whip Tom Emmer, has taken a bold stance by advocating for the firing of SEC Chair Gary Gensler in 2024. The rationale behind this move is rooted in allegations of corruption
The Chinese government has recently taken significant steps to regulate the use of cryptocurrencies in illegal foreign exchange (forex) trading. In a joint statement issued by the Supreme People’s Procuratorate and the State Administration of Foreign Exchange (SAFE) on December 28, authorities urged prosecutors and forex regulators to intensify supervision to combat financial fraud and
The South Korean government has made a significant announcement regarding its plans to enhance transparency and accountability in the public sector. On December 27, the Ministry of Personnel Management revealed that it will implement a unified public official asset disclosure service, which will include the registration of cryptocurrency holdings. This move is aimed at addressing
Indian financial regulators are expressing significant reservations about the integration of cryptocurrencies into the country’s economic framework. They believe that there is no economic upside in making them regulated financial instruments. This cautious approach is based on the potential threats that these digital assets pose to macroeconomic stability. The Central Bank’s Stance Senior officials from
The Japanese government has made a significant decision regarding the taxation of crypto assets held by corporations. According to the latest reports, the imposition of unrealized gains tax on these assets will be terminated. This new policy change is set to take effect on April 1, 2024, coinciding with Japan’s fiscal year. This move by
The U.S. Securities and Exchange Commission (SEC) has recently set a firm deadline of December 29th for companies seeking to launch exchange-traded funds (ETFs) tied to the spot Bitcoin price. This significant development stems from a high-level meeting held on December 21st, where SEC officials engaged with representatives from leading financial entities. The SEC plans
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
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