Revolut, a fintech company known for its crypto-friendly approach, has announced its decision to discontinue cryptocurrency services for users in the United States. The firm cited the complex regulatory landscape in the country as the reason for this move. In an email sent to its U.S. customers, Revolut announced that ...
Kuwait has adopted a stricter stance on virtual assets and cryptocurrencies. The Capital Markets Authority (CMA), the country's primary financial regulator, issued a circular on July 18, 2023, outlining comprehensive regulations for virtual assets in the country. The new regulations from the CMA imposes an absolute ban on a wide ...
Cryptocurrency companies in Singapore will soon be required to adhere to new guidelines proposed by the Monetary Authority of Singapore (MAS) to ensure the safety and protection of customer assets. These guidelines, currently in the form of "draft legislative amendments," are open for public comments and are expected to become ...
The Crypto and Digital Assets All-Party Parliamentary Group (APPG) has released an extensive report containing 53 crucial recommendations for regulating the UK's cryptocurrency and digital asset market. Titled "Realising Government's Vision for The UK to Become a Global Hub for Cryptocurrency & Fintech Innovation," the report aims to provide policymakers ...
Hong Kong's Securities and Futures Commission (SFC) has announced that regulated platforms will soon be able to serve ordinary investors on the island. In a statement released on May 23, 2023, the SFC encouraged owners of virtual asset trading platforms to apply for a license if they are willing to ...
A recent report by British legislators recommending the classification of cryptocurrencies as gambling has been the subject of fierce criticism from stakeholders in the UK cryptocurrency industry. The House of Commons Treasury Committee released the report on May 17, 2023, in which it proposed regulations similar to those applied to ...
Multiple traditional financial institutions in the United Kingdom have expressed concerns regarding the government's plans to regulate cryptocurrencies. These institutions have raised issues related to accuracy, taxation, and consumer protection as potential risks associated with cryptocurrency regulation. The Institute of Chartered Accountants in England and Wales (ICAEW) cautioned that regulation ...
