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Policy

US Disrupts North Korean Cryptocurrency Money Laundering Operation

The US Treasury Department announced on Tuesday that it has dismantled a North Korean money laundering operation that utilized cryptocurrency to launder millions of dollars for the isolated nation, a leading perpetrator of cryptocurrency-related crimes. A front company based in the UAE, known as Green Alpine Trading, LLC, was found to be converting cryptocurrency into cash on behalf of North Kore…

Dec. 17, 2024, 4:31 p.m.

Policy

Nigeria Cracks Down on Crypto-Related Scams with Mass Arrests

A recent operation in Nigeria has resulted in the arrest of 792 individuals suspected of involvement in cryptocurrency scams, as reported by Reuters on Monday. The suspects allegedly used romantic schemes to deceive victims, primarily from the US and Europe, into investing in fake cryptocurrency ventures. The arrests took place at a seven-story building in Lagos, where Chinese and Filipino nation…

Dec. 17, 2024, 3:11 p.m.

Policy

ESMA Issues Final Guidance on MiCA Implementation Ahead of Looming Deadline

On Tuesday, the European Securities and Markets Authority (ESMA) published its final guidance to aid member states in implementing the upcoming rules. The guidance includes a final report on reverse solicitation, systems, and what constitutes a financial instrument in the context of cryptocurrency, as well as draft technical standards for preventing market abuse. The European Union's Markets in C…

Dec. 17, 2024, 12:03 p.m.

Policy

British Columbia Upholds Bitcoin Mining Moratorium Despite Vancouver's Pro-Bitcoin Stance

Although Vancouver's City Council has approved a motion to explore becoming a 'bitcoin-friendly city', the province of British Columbia is continuing its ban on bitcoin mining until December 2025. The ban, which was implemented in December 2022 to address energy concerns, was challenged in court by Conifex Timber but was upheld by the B.C. Supreme Court in 2024. The court ruled that the policy wa…

Dec. 17, 2024, 5:48 a.m.

Policy

Exodus Crypto Wallet Manufacturer Gets SEC Approval for NYSE American Listing

Exodus Movement, a leading cryptocurrency wallet provider, has received approval from the US Securities and Exchange Commission to list on the NYSE American exchange. The company, which will trade under its current ticker symbol starting December 18, had initially been denied listing in May due to an ongoing SEC review. This approval may signal a shift in regulatory attitudes towards cryptocurren…

Dec. 16, 2024, 6:33 p.m.

Policy

UK Plans to Ban Public Cryptocurrency Offerings

The UK government is set to introduce legislation that will prohibit the public offering of cryptocurrencies, according to a recent paper released by the Financial Conduct Authority. This move aims to build upon existing promotion rules that restrict unregistered cryptocurrency firms from targeting UK clients, with exemptions applying to certain crypto asset trading platforms and offers. The FCA …

Dec. 16, 2024, 11:45 a.m.

Policy

French Hill to Helm Influential Congressional Committee in Upcoming Term: Report

According to a report by Punchbowl News on Thursday, Congressman French Hill is slated to become the next chair of the House Financial Services Committee, a powerful congressional panel. Hill's appointment was announced by the party's Steering Committee, which selects committee leaders ahead of the 119th Congress. He will succeed Patrick McHenry, who will retire after serving 20 years in Congress…

Dec. 12, 2024, 8:21 p.m.

Policy

Vancouver City Council Approves Bitcoin Integration Motion Amidst Fiat Concerns

The city council of Vancouver, British Columbia, has approved a motion to investigate the potential of using bitcoin for tax and fee payments, as well as establishing a bitcoin reserve. The motion, proposed by Mayor Ken Sim, advocates for expanding the city's financial reserves and payment options to include bitcoin. It states that not considering the benefits of adding bitcoin to the city's stra…

Dec. 12, 2024, 5:02 a.m.

Policy

Italy to Reduce Proposed Crypto Capital Gains Tax Increase: Report

According to a report by Reuters, Italy is poised to scale back its intended tax increase on capital gains from cryptocurrency. Previously, the government had aimed to raise the tax rate from 26% to 42% by the end of December. However, lawmakers Giulio Centemero and Federico Freni, the junior minister at the Treasury, have stated that the tax increase will undergo a significant reduction as the l…

Dec. 11, 2024, 10:29 a.m.

Policy

El Salvador and Argentina Regulators Forge Partnership to Advance Crypto Development

In a bid to strengthen the crypto industry in Latin America, El Salvador and Argentina have entered into a strategic partnership. The agreement, signed by Juan Carlos Reyes, the head of El Salvador's Comisión Nacional de Activos Digitales, and Roberto Silva, president of Argentina's Comisión Nacional de Valores, marks a significant step towards fostering a collaborative environment for crypto reg…

Dec. 10, 2024, 9:22 p.m.