On Friday, May 5, 2023, New York Attorney General Letitia James proposed a state law to tighten regulations on the cryptocurrency industry to protect investors, consumers, and the broader economy.
The bill called the Crypto Regulation, Protection, Transparency, and Oversight (CRPTO) Act will require crypto companies to refund customers who are victims of fraud,
On Monday, April 24, 2023, cryptocurrency exchange Coinbase filed a narrow action in the United States Court of Appeals for the Third Circuit, requesting that the Securities and Exchange Commission be ordered to respond to the crypto exchange’s July 2022 petition.
The petition asked the SEC to “propose and adopt rules to govern the regulation of securities that are offered and traded via digitally native methods,
On Thursday, March 9, 2023, crypto exchange KuCoin was sued by New York Attorney General Letitia James for falsely representing itself as an exchange and failing to register as a broker-dealer for securities and commodities.
Launched in September 2017, KuCoin is a cryptocurrency exchange that operates in over 200 countries.
On Wednesday, February 22, 2023, crypto exchange CoinEx was sued by New York Attorney General Letitia James for failing to register as a securities and commodities broker-dealer in the state of New York.
In a 38-page petition filed in the New York Supreme Court,
Last month, the Bank of England (BOE) warned that cryptocurrencies are “very vulnerable to sentiment and prone to collapse,” urging regulators to “get on with the job” and regulate crypto under the principle of “same risk, same regulatory outcome.”
Jon Cunliffe, Bank of England’s deputy governor for financial stability,
The Crypto space found its fame in offering financial freedom, the promise of something greater than the traditional monetary system built on credit scores and financial backgrounds. The financial crisis of 2008 revealed the true face of a much-flawed economy and at a time of devastation,
Recently, there’s been several circumstances that has put the crypto industry in a challenging position. The US and the European Union have accelerated the process of stablishing regulations in this industry to seek to protect users. How will these regulations affect the industry?
Insider Trading. Digital assets. On June 1, 2022, the United States Attorney’s Office for the Southern District of New York (the “USAO”) and the Federal Bureau of Investigation (the “FBI”) unsealed an Indictment charging former OpenSea employee Nathaniel Chastain with wire fraud and money laundering in connection with an alleged insider trading scheme in non-fungible tokens (“NFTs”),
As the popularity of cryptocurrencies has grown over the last few years and several investors have added them to their portfolios globally, governments and regulators have taken a new refined approach. This is especially in Canada, where regulators have placed importance on increasing regulations in the space.
In our current global monetary order, where the U.S. dollar is the reserve currency, Bitcoin has become a competitor in the eyes of the government. But it doesn’t have to be this way.
The U.S. government doesn’t have to fight against Bitcoin.
