regulation | ForkLog

ForkLog 45 10.10.2024

US Charges Gotbit and Other Market Makers with Cryptocurrency Manipulation

Federal prosecutors in Boston have filed “the first-ever criminal charges against financial companies for manipulating the crypto market and engaging in wash trading.” Eighteen individuals and organizations stand accused of large-scale fraud and market manipulation in the cryptocurrency sector, including executives from market-making firms Gotbit, ZM Quant, CLS Global, MyTrad, and several crypto projects. Four […]

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ForkLog 13 09.10.2024

Cryptocurrency Firms Pay $32 Billion to US Regulators

US authorities have extracted $32 billion from cryptocurrency companies in settlements over compliance issues, according to a report by CoinGecko. Top Crypto Settlements by US Regulators ?‍⚖️ 1. FTX & @AlamedaResearch — $12.70B2. Celcius — $4.70B3. Terraform Labs — $4.50B4. @binance — $4.30B5. Genesis — $2.00B6. Voyager — $1.65B7. @telegram — $1.24B8. @coinbase — $100M9. […]

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ForkLog 6 09.10.2024

Bitwise Outlines Conditions for Bitcoin to Surpass $80,000 by Year-End

A Trump victory in the U.S. elections, a 50 basis point rate cut by the Fed with new stimuli from China, and a lack of major surprises in the industry are the conditions for bitcoin to rise above $80,000 by the end of the year, according to Bitwise, reports The Block. Matt Hougan, the company’s […]

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ForkLog 13 08.10.2024

Potential Candidates for SEC Chairmanship Under a Trump Presidency

Dan Gallagher, the chief legal officer of Robinhood, is the leading candidate for the position of SEC chair if Donald Trump wins the U.S. presidential election, according to sources cited by Politico. Other contenders include former CFTC chairman Chris Giancarlo, SEC commissioner Hester Peirce, and the agency’s former chief counsel Robert Stebbins. “I am honored […]

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ForkLog 12 07.10.2024

UAE Abolishes VAT on Cryptocurrency Transactions

The UAE authorities have exempted all cryptocurrency transactions from the 5% value-added tax. This was highlighted by PwC. “The UAE has effectively placed digital assets on par with TradFi. This legitimizes cryptocurrencies,” —commented Ankita Dhawan, a senior research fellow at the Métis Institute. The exemption is retroactive from January 1, 2018. Companies involved with digital […]

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ForkLog 55 04.10.2024

Russian State Duma Committee Endorses AML Regulations for Digital Ruble

The State Duma’s Financial Market Committee has recommended the first reading approval of a bill to extend AML regulations to participants of the digital ruble platform, as reported by Izvestia. The initiative proposes a multi-tiered model for implementing anti-money laundering requirements. All platform users, except credit institutions, will be categorized by the Bank of Russia […]

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ForkLog 7 03.10.2024

SEC’s Gurbir Grewal to Step Down as Enforcement Director

On October 11, SEC’s Director of Enforcement Gurbir Grewal will leave the agency. In the crypto community, he was dubbed the “chief instigator of the Commission’s attack” on cryptocurrencies. Experts doubt any change in the regulator’s policy. The U.S. Securities and Exchange Commission (SEC) has announced that Gurbir Grewal will step down as Director of […]

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ForkLog 23 02.10.2024

Bitwise Files for Spot XRP ETF Registration

Digital asset manager Bitwise has submitted an application to launch a spot exchange-traded fund based on XRP. ?SCOOP: Crypto asset manager @BitwiseInvest has filed in the state of Delaware for an $XRP ETF. More details to come. Stay tuned. ? pic.twitter.com/2q7zDj7aYm — Eleanor Terrett (@EleanorTerrett) October 1, 2024 The firm promised to provide further details […]

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ForkLog 13 01.10.2024

Bank of Russia to Scrutinise Cross-Border Bitcoin Transfers by Citizens

The Bank of Russia has mandated 19 financial institutions to examine cross-border transfers by resident individuals related to cryptocurrency purchases. This is outlined in the regulator’s approved inspection programme for late 2024 to early 2025. The regulator aims to assess the volume of digital currency transactions, particularly stablecoins, conducted by Russians abroad. From October to […]

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ForkLog 22 01.10.2024

Binance Kazakhstan Secures Full License for Operations

The cryptocurrency exchange Binance Kazakhstan has obtained a full license DATF from the Astana Financial Services Authority. The announcement was made by the company’s CEO, Richard Teng. Excited to share that #Binance Kazakhstan has become the first digital asset platform to obtain a full DATF license! ?? Very thankful for Kazakhstan’s forward-looking approach to financial […]

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ForkLog 14 30.09.2024

Russia to Introduce ‘Digital LLCs’ as DAO Concept

The Russian Ministry of Finance is set to develop a pilot project for creating digital limited liability companies (LLCs) with corporate agreements enforced through decentralized ledgers, akin to DAOs. This was reported by TASS, citing a statement from Alexey Yakovlev, director of the department of financial policy. Under the project, once an LLC is registered […]

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ForkLog 16 27.09.2024

Germany Establishes ‘Federal Bitcoin Association’

Sixty-four members of the Bundestag have founded the ‘Federal Bitcoin Association’. The group will focus on promoting the first cryptocurrency at both national and European levels, as well as creating favorable business conditions. Gestern haben wir im Bundestag den #Bitcoin-Bundesverband gegründet. ?⚡️ 64 Gründungsmitglieder kämpfen nun gemeinsam für ihre Interessen, für finanzielle Bildung und für […]

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