Regulation

Abu Dhabi, the second-most populous emirate in the United Arab Emirates, has introduced a formal regulatory framework for decentralized autonomous organizations (DAOs) and other digital ledger entities as it doubles down on its ambition to be a leader in digital asset innovation within the Middle East. The new framework allows DAOs to operate legally and

The Joint Chiefs of Global Tax Enforcement (J5), a global anti-tax fraud group, hosted investigators, cryptocurrency experts and data scientists in “The Cyber Challenge” event to track down individuals and organizations committing tax fraud. The J5 members comprise the criminal intelligence communities from Australia, Canada, the Netherlands, the United Kingdom and the United States, which

The United States Securities and Exchange Commission (SEC) has refuted the jury’s conclusion regarding Terraform Labs’ alleged violations and has demanded a summary judgment on all the claims.  A court filing from Oct. 27 showed the SEC’s reluctance to accept the jury’s leniency on Do Kwon and his involvement in facilitating the frauds that eventually

The United States National Institute of Standards and Technology (NIST) and the Department of Commerce are soliciting members for the newly-established Artificial Intelligence (AI) Safety Institute Consortium.  Participate in a new consortium for evaluating artificial intelligence (AI) systems to improve the emerging technology’s safety and trustworthiness. Here’s how: https://t.co/HPOIHJyd3C pic.twitter.com/QD3vc3v6vX — National Institute of Standards

The Dubai Financial Services Authority (DFSA) recognized two more tokens on Nov. 2, adding XRP (XRP) and Toncoin (TON) to its list of recognized tokens. They join Bitcoin (BTC), Ether (ETH) and Litecoin (LTC) as coins recognized in the Dubai International Financial Centre (DIFC).  The tokens’ new status will allow financial institutions in the DIFC

The decentralized finance project SafeMoon, which was exploited in March, resulting in a net loss of $8.9 million in BNB (BNB), has been charged by the United States Securities and Exchange Commission (SEC) for security rules violations and fraud. The funds associated with the exploit have been on the move via centralized exchanges (CEXs), with blockchain analytic

Closing arguments for the criminal trial of Sam Bankman Fried (SBF), the disgraced founder of crypto exchange FTX, have officially concluded with U.S. Southern District of New York Judge Lewis Kaplan moving to jury instructions. As per the indictment from last December, Bankman-Fried faces a total of seven charges, including two counts of wire fraud

Rules for crypto asset promotion that came into force in the United Kingdom on Oct. 8 have led to some confusion, judging from the low level of compliance. The Financial Conduct Authority (FCA) responded with additional guidance for crypto firms to help them fall into line. The FCA released “finalized non-handbook guidance” to compliance with

As the cryptocurrency market moves sideways and amid a deepening stablecoin exodus, the sector remains a vital lifeline for many sending money to loved ones while dodging extremely high fees that can be life-changing over time. Cryptocurrency remittances have been seeing their adoption grow, and the low volatility seen in the space over the last

The Dubai Virtual Assets Regulatory Authority (VARA) has issued an “Initial Approval” license to the crypto firm WadzPay, marking a pivotal step in the company’s journey toward obtaining a Virtual Asset Service Provider (VASP) license for virtual asset services and activities. According to the announcement, Wadzpay’s VARA license allows it to commence preparations to provide

ProShares, a major issuer of exchange-traded funds (ETF), announced the launch of the short Ether-linked ETF on Nov. 2. ProShares’s new Short Ether Strategy ETF is set to start trading on the New York Stock Exchange’s Arca under the ticker symbol SETH and is designed to provide investors with an opportunity to profit from the volatility

The tokenization of real-world assets has been tipped as a major use case of blockchain technology that could drive Web3 adoption. In episode 35 of Cointelegraph’s Hashing It Out podcast, host Elisha Owusu Akyaw interviews Sanjay Raghavan, vice president of Web3 Initiatives at Roofstock onChain, about tokenized real estate on the blockchain and how digital real estate

Payment giant PayPal has received a subpoena from the United States Securities and Exchange Commission (SEC) regarding its U.S. dollar-pegged stablecoin. The Enforcement division of the SEC has sent a subpoena to PayPal related to its PayPal USD (PYUSD) stablecoin, the firm disclosed on Nov. 2, according to a report by Reuters. The action comes

Ripple chief legal officer Stuart Alderoty has expressed reservations about the recent string of legal defeats suffered by the United States Securities and Exchange Commission during Gary Gensler’s tenure. These remarks follow another setback for the SEC in the Fifth Circuit Court after Ripple’s victory in the XRP lawsuit in July 2023. Alderoty characterized this

The Abu Dhabi Global Market (ADGM) Registration Authority has introduced comprehensive regulations governing Web3 organizations. The international financial free zone’s regulatory framework is “purpose-built” and the first of its kind, the agency claimed. The Distributed Ledger Technology (DLT) Foundations Regulations will provide for the operation of blockchain foundations, Web3 entities, decentralized autonomous organizations (DAOs) and

Reacting to the rising attempts by bad actors to dupe crypto investors, the United Kingdom’s National Crime Agency (NCA) plans to form a specialized cryptocurrency and digital assets team to counter the issue. The NCA posted a job opening on Nov. 4, looking to hire six individuals to create a new team focused on crypto

The Hong Kong government says the recent $165 million alleged scandal involving crypto exchange JPEX won’t  stifle its Web3 vision for the region. In a Nov. 2 keynote at Hong Kong Fintech Week, the region’s Secretary for Financial Services and the Treasury Christopher Hui said the saga hasn’t affected the government’s plan. “We’ve been asked

The United States Securities and Exchange Commission (SEC) announced Nov. 1 that it was charging SafeMoon and three of its executives with fraud and unregistered securities sales in connection with its SafeMoon token. The Justice Department unsealed charges against the men at the same time.  According to SEC allegations, SafeMoon creator Kyle Nagy, CEO John Karony and

Major cryptocurrency custody firm BitGo is reportedly expanding its regulatory compliance in Germany more than three years after launching a dedicated local subsidiary. BitGo has obtained a cryptocurrency license from the German Federal Financial Supervisory Authority (BaFin), according to a Nov. 1 report by Finance Magnates. The firm has been storing crypto assets like Bitcoin

The United Kingdom’s global summit on artificial intelligence (AI) safety, “AI Safety Summit” began on Nov. 1 and will carry on through Nov. 2 with government officials and leading AI companies from the world in attendance, including from the United States and China.  U.K. Prime Minister Rishi Sunak is hosting the event, which is taking