Regulation

Leading crypto exchange Huobi Global has registered to start offering crypto exchange services in Australia. Huobi announced this bullish news via Twitter earlier today. [embed]https://twitter.com/huobiglobal/status/1552957109548904450?s=21&t=g8UYKpG1RErsZYXTQ-VYoQ[/embed] Huobi announcement comes after the Australian government said it would create a market license regime for crypto exchanges. According to Jane Hume, Australia’s Minister for Digital Economy, this regime sought to ensure Australians invest safely in crypto. At the time, Huobi Global co-founder Du Jun hinted at the exchange’s ambitions to set up shop in…

Gary Gensler – Chairman of the Securities and Exchange Commission – recently outlined the investment risks associated with crypto trading platforms. He said they resemble the structure and function of stock exchanges, and ought to be regulated in the same manner.  In a video posted Thursday, Gensler explained that crypto platforms, like stock markets, bring buyers and sellers together. Millions of customers regularly trade on such platforms without operating through a broker.  As such, he argues that crypto platforms should…

The UK’s Law Commission calls on the government to formulate laws that exclusively govern the crypto and NFT spaces. Bloomberg reported on July 28, noting that the commission believes the current laws cannot adequately govern the burgeoning sectors. According to the report, the commission is requesting lawmakers to change laws regarding personal property to include data objects. The entity claims that implementing these changes would help courts decide ownership claims of tokens. Additionally, the commission believes these reforms can help…

Cathie Wood’s fund management firm Ark Invest has let go of 1.4M of its Coinbase shares. News of this emerged via the firm’s daily trade data release earlier today. Wood Offloads 1.4M Shares Ark is Coinbase’s third-biggest shareholder with COIN holdings nearing 9 million as of late last month. A Bloomberg release revealed that with this liquidation the company conducted its first COIN dump this year. Ark sold the shares in a $75M deal involving 3 of its operational exchange-traded…

Due to France’s uncertain ad policies, several F1 teams were unable to bear advertisements for crypto products at the French Grand Prix on Sunday. Hazy Regulations Prompt Ad Removals France’s approach to the advertisement industry, especially regarding fiscal products is still unclear. As a result, several crypto brands were left to bear the brunt on Sunday. At the latest Grand Prix, some F1 teams with decals advertising crypto brands were forced to either keep the company brands hidden or removed…

Filipino policy institute, Infrawatch PH has filed a complaint to the SEC regarding Binance’s alleged illegal operations within the region. The latest filing will be the institute's second attempt to push for a Binance investigation this month. “Doing Business Without License” The think tank called for the watchdogs to launch an investigation into the crypto exchange platform. In their 12-page filing, they outlined a series of infractions for which they believe the SEC should hold Binance liable. To start with,…

Bloomberg's subsidiary Modern Media is facing a lawsuit from Binance CEO Changpeng Zhao. Zhao’s suit addresses a defamatory cover title published in late June by the media giant. At the time, the post read “Changpeng Zhao’s Ponzi Scheme”, before it was later changed. CZ Slams Modern Media With Lawsuit The Hong Kong Economic Times initially confirmed the news of the lawsuit on Monday. According to reports, CZ filed his case against Modern Media in the Hong Kong High Court of…

The Republican Party of Texas has unveiled its 2022 platform and resolutions, detailing its principles and future goals. Among them is a plan to enshrine constitutional law allowing Texans to use whatever form of money they choose – including cryptocurrency. As the document states, the GOP will add protections for wealth transfer and storage to the Texas Bill of Rights. It will let Texans choose their medium of exchange, “including digital currency, gold and silver coin, bullion, cash, and scrip.”…

Singapore-based crypto exchange Crypto.com has secured a license from the Cyprus Securities and Exchange Commission (CySEC). The exchange announced this achievement through a tweet earlier today. [embed]https://twitter.com/cryptocom/status/1550449386253348864?s=21&t=-MgdKJarz3iJ0KxGmqQy3Q[/embed] Through this license, Crypto.com can now offer Cyprus citizens a suite of products and services in a regulated environment. Commenting on this development, Crypto.com CEO Kris Marszalek said: Europe is a priority region for Crypto.com and our continued expansion in the market is a testament to our commitment to compliance and collaboration with…