Regulation

Many predicted that Binance would never embrace regulation — it would only pretend to comply in jurisdictions like the United States.  No more. Binance pleading guilty to money laundering and other federal charges on Nov. 21 means it’s giving up its free-booting ways. It will also pay a $4.3 billion fine, the largest in the

Crypto investment platforms eToro and M2 received various degrees of approval to offer their services in the United Arab Emirates from the ADGM Financial Services Regulatory Authority, which oversees the UAE’s international financial center, the Abu Dhabi Global Market (ADGM). EToro received approval for a Financial Services Permission (FSP) that allows a provider to operate as

Spanish residents holding any crypto assets on non-Spanish platforms will have to declare them by March 31, 2024, under new laws governing the taxation of virtual assets.  The Spanish Tax Administration Agency, commonly known as Agencia Tributaria, has published form 721, a tax declaration form for virtual assets abroad, which was first announced in the Boletín

The secretary-general of Amnesty International, Anges Callamard, released a statement on Nov. 27 in response to three European Union member states pushing back on regulating artificial intelligence (AI) models.  France, Germany and Italy reached an agreement that included not adopting such stringent regulations for foundation models of AI, which is a core component of the

The United States Securities and Exchange Commission is still looking for evidence that Binance.US had a backdoor to potentially control customer assets in a similar style to FTX, according to a Nov. 27 report by the Wall Street Journal. In June, the SEC filed a lawsuit against Binance and Binance.US, alleging that the exchange was

The governance token for crypto mixer Tornado Cash (TORN) has fallen by over 50% on Nov. 26-27, according to data from Coingecko. The crash came on the same day that crypto exchange Binance announced it was delisting the token. Tornado Cash 24-hour chart. Source: Coingecko. Tornado Cash is a cryptocurrency mixing protocol. Its token, TORN,

Last week, the legal drama featuring the world’s largest crypto exchange and United States law enforcement ended with a plea deal. Binance and Changpeng “CZ” Zhao have admitted violating U.S. Anti-Money Laundering laws, agreeing to pay $4.3 billion in fines. CZ resigned as CEO of Binance as part of the deal. Binance’s former head of

Changpeng “CZ” Zhao, who pleaded guilty to one felony charge as part of a settlement with the United States Department of Justice involving crypto exchange Binance, may not be permitted to leave the country as he awaits sentencing. According to a Nov. 27 filing in U.S. District Court for the Western District of Washington at

According to Japan’s tax authorities, the average value of undeclared income in crypto fell by 19% in 2022. On Nov. 24, the Japanese National Tax Agency (NTA) released its yearly summary of tax investigations. The 13-page document also contains data on the probe into crypto tax evasion. Related: Circle and SBI Holdings partner to boost

Circle, the stablecoin issuer behind USD Coin (USDC), is teaming up with Tokyo-based financial services firm SBI Holdings to boost the adoption of USDC and Web3 services in Japan. Circle said it concluded a memorandum of understanding (MOU) with SBI Holdings on Nov. 27, which will underpin the strategic expansion of USDC into Japan. Circle

A recent court filing suggests that Changpeng “CZ” Zhao’s legal challenges are just beginning, despite pleading guilty to violating the United States Anti-Money Laundering requirements in a settlement with the Department of Justice.  Zhao is expected to be sentenced in February 2024. He is currently challenging the government’s efforts to prevent his return to the

Cryptocurrency exchange Zipmex has announced it is taking immediate action by suspending all digital asset trading in Thailand as part of its efforts to comply with regulations. According to a statement issued on November 25, Zipmex has opted to temporarily halt its operations to align with regulatory requirements with the Securities and Exchange Commission (SEC)

Recent events surrounding the crypto exchange Binance sparked significant debate about the United States’ crackdown on crypto firms. According to Omid Malekan, adjunct professor at Columbia Business School and author, the Department of Justice’s approach in the case is very different from what is seen in traditional finance. “People who sincerely believe that crypto is

Former Binance CEO Changpeng “CZ” Zhao has opposed the United States government’s efforts to block his return to the United Arab Emirates (UAE) to be with his family while awaiting sentencing following his guilty plea. In a court filing on November 23, Zhao’s lawyers urged a US District judge to reject the proposed alteration of

India is formulating regulations to oversee deepfakes, the country’s Minister for Railways, Communications, Electronics and Information Technology Ashwini Vaishnaw said on Nov. 23, expanding on Prime Minister Narendra Modi’s statement the day before about his concerns about the technology. According to a Reuters report, during discussions with academics, industry associations and social media firms, Vaishnaw said

The Data Act — a contentious piece of European Union legislation that includes a clause requiring the ability to terminate smart contracts — has been approved by the European Parliament. If introduced, the legislation will require a smart contract to have a “kill switch.” In a Nov. 9 press release, the parliament announced that the legislation

As expectations grow that a spot Bitcoin exchange-traded fund (ETF) will be approved in the United States, it remains one of the hottest topics heading into 2024. In Episode 38 of Cointelegraph’s Hashing It Out, Elisha Owusu Akyaw talks to Joel Kuck, CEO of Decentralized ETF (D-ETF), about how ETFs work, the potential impact of

The European Union’s banking regulator, the European Banking Authority (EBA), wants to update existing anti-money laundering rules and focus on combatting the financing of terrorism (AML/CFT) for crypto providers.  In a consultation paper published on Nov. 24, the EBA explains that current European regulations are no longer sufficient to govern AML/CFT standards compliance among crypto

The saga of Terraform Labs co-founder Do Kwon continues to unfold, with a court in Montenegro approving his extradition to either South Korea or the United States. The High Court of Podgorica has determined the legal requirements for Kwon’s extradition, according to an official statement posted on the court’s website on Nov. 24. As the

Netherlands-based cryptocurrency exchange Bitvavo is set to expand its services to French users after successfully registering as a digital asset service provider with France’s Autorité des Marchés Financiers (AMF). The expansion into France comes just weeks after Bitvavo secured regulatory approval to offer its services in Austria. The exchange expanded its offering to Italy in