Hong Kong's newly proposed stablecoin bill passed its first reading in the city’s Legislative Council today, December 18, 2024. This move brings the city closer to establishing a robust regulatory framework for fiat-backed stablecoin issuers. During the presentation of...
The UK’s Financial Conduct Authority (FCA) has announced plans to tighten restrictions on the crypto industry, including a proposed ban on public crypto offerings from non-regulated entities. The announcement, outlined in a discussion paper published on December 16, is...
New Zealand’s top financial regulator, the Financial Markets Authority (FMA) has issued a warning about a new crypto investment scam targeting the country’s citizens. According to the regulator, the scam is promoted through YouTube channels that offer fake crypto...
Morocco made headlines when it announced a total ban on cryptocurrency use in 2017. Authorities in the African country cited concerns over risks like money laundering, terrorism financing, and the lack of consumer protections and regulatory oversight. At the...
The Bank of England's Prudential Regulation Authority (PRA) has directed financial firms to disclose their current and projected crypto asset exposures by March 2025. In a statement released on December 12, the PRA emphasized the importance of understanding both...
The Australian Securities and Investments Commission (ASIC) has fined Bit Trade, the local operator of the Kraken crypto exchange, of AUD 8 million (approximately USD 5.2 million) for illegally providing credit facilities to over 1,100 customers. The announcement was...
Hong Kong is intensifying discussions on updating its cryptocurrency regulations to stay current with the fast-changing global industry. A proposal presented during the Legislative Council meeting on December 11 highlights the urgency for the city to adapt to the...
Ken Sim, the mayor of Vancouver, has proposed that the city explore integrating Bitcoin into its financial systems as a potential strategy to combat inflation and safeguard its purchasing power. On December 11, Mayor Sim introduced a motion titled...
Russia has joined the growing list of nations considering Bitcoin as a strategic reserve asset. Anton Tkachev, a member of the Russian State Legislative Chamber, Duma, from the New People party, has formally proposed that the finance ministry incorporate...
The US Department of the Treasury issued a semiannual regulatory agenda on August 16, 2024, proposing a revised definition of "money" to include cryptocurrencies and other digital assets. This redefinition essentially brings cryptocurrencies under the same legal and regulatory...
