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
Regulation
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
The U.S. Securities and Exchange Commission (SEC) has denied a petition from cryptocurrency exchange Coinbase, which requested the development of new rules for digital asset securities. In a response letter to Coinbase, the SEC stated that it believes the requested rulemaking is currently unwarranted and therefore denies the petition. This decision concludes a lengthy back-and-forth
The Securities and Exchange Commission (SEC) is set to implement new disclosure requirements for public companies regarding the disclosure of material cybersecurity incidents. These new rules aim to provide investors with timely and consistent information about the risks associated with cybersecurity. While the requirements have been modified following the comment period, they still have significant
The Financial Accounting Standards Board (FASB) has recently introduced new accounting rules for Bitcoin, marking a significant milestone in the integration of digital assets into mainstream corporate finance. This article delves into the implications of these changes and the potential impact on corporations and the perception of cryptocurrencies in the financial world. The adoption of