Ripple’s move to launch its own stablecoin could add further legitimacy to the stablecoin landscape, according to Tether CEO Paolo Ardoino, reports Cointelegraph. Speaking to Cointelegraph during Paris Blockchain Week, Ardoino said the stablecoin ecosystem needs healthy competition between big players to further legitimize the utility of fiat-backed tokens in the eyes of regulators. “First […]
Bitcoin ETFs win SEC approval
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US regulators have approved bitcoin ETFs, dramatically broadening access to the 15-year-old cryptocurrency, reports CoinDesk. The Securities and Exchange Commission on Wednesday declared effective key filings from the markets seeking to list the groundbreaking products. They will begin trading on Thursday (11/01/2024). About a dozen companies, including BlackRock, Fidelity and Grayscale, sought to create bitcoin […]
The Monetary Authority of Singapore (MAS) has introduced five additional industry pilots to Project Guardian to test various use cases around asset tokenisation, reports Cointelegraph. Project Guardian is a collaborative initiative led by Singapore’s central bank that seeks to develop new financial infrastructure using decentralised finance (DeFi) elements. The latest initiatives are aimed at developing […]
Spain has unveiled plans to reduce the transition period before the application of the Markets in Crypto Assets (MiCA) regulation, reports Coindesk. A recent publication from the government shows a meeting with the first vice president Nadia Calvino and Verena Ross, the President of the European Securities and Market Authority (ESMA) to bring the country’s […]
The European Securities and Markets Authority (ESMA), the EU’s financial markets supervisory authority, has released an article on decentralised finance (DeFi) and the risks it poses to the EU market, reports Cointelegraph. In a 22-page report, the ESMA admits the promised benefits of DeFi, such as greater financial inclusion, the development of innovative financial products, […]
Europe is a world leader in crypto regulation. The European Union has already adopted the Markets In Crypto-Assets (MiCA) regulation, which will govern crypto in the EU’s 27 countries starting late 2024. The UK is also courting the crypto industry. For example, The Financial Services and Markets Bill is working its way through Parliament, and […]
Crypto exchange Kraken has received authorisation from the Central Bank of Ireland (CBI) as an E-Money Institution (EMI). Having achieved virtual asset service provider authorisation from the CBI in April, Kraken has now also been authorised as a VASP in Spain. Kraken said in its blog, “The EMI license, granted to our subsidiary in Ireland, […]
Minister for Finance Michael McGrath TD opened a public consultation on the exercise of national discretions contained within the Markets in Crypto Assets Regulation (MICAR) (EU) 2023/1114. The Markets in Crypto-Assets Regulation is the first European-level legislation introducing a harmonised and comprehensive framework for crypto-assets, covering issues from the offering to the public of crypto-assets […]
Digital assets are legal property in China, according to a report published by the People’s Court of China, putting China among a cohort of jurisdictions that have explicitly recognised that property rights apply to digital assets in the same way they do any other, reports Coingeek. “Virtual currency is not classified as an illegal item. […]
For many regions, it is now a race against the clock in an attempt to reverse environmental damages caused by various industries. Such efforts have become increasingly apparent within the European Union (EU), which has been drastically scraping together an array of legislations over the past year to tackle eco-issues in a bid to right […]
US regulators ordered a Los Angeles-based company that issued non-fungible tokens to compensate investors who bought the NFTs, arguing that the transactions were illegal unregistered securities offerings. It was the US Securities and Exchange Commission’s first NFT-related enforcement action, reports Coindesk. The SEC’s findings do not suggest regulators consider all NFTs to be securities, limiting […]
A report on European Union Crypto Assets Travel Rule has been released by the Blockchain Arbitration & Commerce Society (BACS) to provide a clear and practical guide to address the main issues triggered by Regulation (EU) 2015/847 in the face of money laundering. The report from BACS, in collaboration with partners BITLAB, is available in […]