The Boston Security Token Exchange (BSTX), a new facility of the Boston-based BOX exchange, received regulatory approval from the United States Securities and Exchange Commission (SEC) to operate as a blockchain-based securities exchange. BSTX was launched jointly by BOX and Overstock’s blockchain arm tZERO, originally seeking approval for launching publicly-traded registered security tokens. However, the
Regulation
On Friday, credit rating agency Fitch published a research piece about Russia’s proposed ban on cryptocurrencies. Although the report agreed with the Central Bank of Russia’s (CBR) position that the ban would limit its financial system’s exposure to risks, it also cautioned that such a proposal could “hold back the diffusion of technologies that could
The former Secretary of State for Health and Social Care and current U.K. Member of Parliament (MP) Matt Hancock urged the House of Commons to make England the “home” of crypto. Hancock has served as an MP for West Suffolk since 2010 but stood down from his role as the Health Secretary in mid-2021 following
A bipartisan group of members from the U.S. House of Representatives called on Treasury Secretary Janet Yellen to clarify the language in the infrastructure bill signed into law in November around the definition of “broker”. In a Wednesday letter, House Financial Services Committee ranking member Patrick McHenry and ten other representatives urged Yellen to reference
The United States Securities and Exchange Commission (SEC) is reportedly reviewing some of the high-yield crypto lending products offered by Gemini, Celsius Network and Voyager Digital. According to a report published in Bloomberg, the SEC is conducting an inquiry into digital asset lending services. The main focus of the inquiry is reportedly around whether the
A top special agent from the Internal Revenue Service has told a conference that NFTs and crypto are the “future” but highlighted that fraud and manipulation is still rampant in the space. Ryan Korner from the IRS Criminal Investigation’s Los Angeles field office made the comments virtual event held on Tuesday by the USC Gould
The U.S. Securities and Exchange Commission has extended its window to approve the ARK 21Shares Bitcoin exchange-traded fund originally proposed in July 2021. According to a Tuesday filing from the SEC, the regulatory body will push the deadline for approving or disapproving the ARK 21Shares Bitcoin ETF from Feb. 2 for an additional 60 days,
As price action bewilders market makers and traders, experts in the crypto industry reached an agreement on several important points last week. Notably, centralized finance (CeFi) and decentralized finance (DeFi), can coexist, and a “blend” of financial products and services will be available to users in the future. On Jan. 21, Cointelegraph moderated the panel
In a letter to the leadership of the United States House Financial Services Committee, ranking member Patrick McHenry took a jab at “inconsistent treatment and jurisdictional uncertainty” inherent in U.S. crypto regulation and called for the Committee to take on its critical issues. McHenry, a Republican representing North Carolina, opened by mentioning that the Committee’s
Members of the executive board at the International Monetary Fund are urging lawmakers in El Salvador to no longer recognize Bitcoin as legal tender. The IMF reported on Tuesday that though digital payments had the potential to increase financial inclusion in the Central American nation, the use of Bitcoin (BTC) as legal tender carried “large
The Bank of Thailand (BOT), the Securities and Exchange Commission (SEC) and the Ministry of Finance (MOF) have come together to review and issue guidelines on the use of digital; assets as a payment tool. In a joint press release on Tuesday, Thailand’s top regulatory bodies said that it has become necessary to review and
Starting on Jan. 27, the South Korean crypto exchange Bithumb will not allow users to withdraw their crypto assets to unverified private wallets. On Jan. 24, the exchange announced that it would be the second of the four major exchanges in the country to ban withdrawals to unverified wallets. Coinone enacted a similar policy late
Congresspeople currently HODLing or actively trading in crypto may have to stop doing so while in office if recent pushes to ban lawmakers from investing in stocks gain enough support. In a Monday letter addressed to Speaker Nancy Pelosi and Minority Leader Kevin McCarthy, 27 members of the U.S. House of Representatives called for action
Russia’s recent ban on crypto has drawn criticism from a number of big names, including Alexei Navalny’s chief of staff Leonid Volkov, and Telegram founder Pavel Durov. On Jan. 20, Russia’s Central Bank published a report proposing a blanket ban on domestic crypto trading and mining. The report stated that the risks of crypto are
Last week, Pakistan’s Sindh High Court held a hearing on the legal status of digital currencies that might lead an outright ban of cryptocurrency trading combined with penalties against crypto exchanges. Several days later, the Central Bank of Russia called for a ban on both crypto trading and mining operations. Both countries could join the growing ranks
In her monthly Expert Take column, Selva Ozelli, an international tax attorney and CPA, covers the intersection between emerging technologies and sustainability, and provides the latest developments around taxes, AML/CFT regulations and legal issues affecting crypto and blockchain. Turkey — the cradle of civilization — is quietly digitizing despite its high-inflation economy, and the lira’s