Regulation

South Korea is preparing to implement tough cryptocurrency regulations, which include conditions for listing and delisting virtual assets for investor protection. The rules are meant to introduce self-regulation in the cryptocurrency exchanges before the enactment of the Virtual Asset User Protection Act in July. South Korea’s financial regulators are poised to introduce protocols for terminating the trading of certain cryptocurrencies, marking a significant move towards regulatory oversight in the crypto market. The forthcoming “Best Practices for Compliance with the Virtual…

The post Mark Cuban Urges CFTC Regulation of ‘All Crypto’ Ahead of US Election appeared first on Coinpedia Fintech News Billionaire investor Mark Cuban advocates for the Commodities Futures Trading Commission (CFTC) to regulate “all crypto”. This move aims to address concerns of vocal crypto voters and potentially strengthen President Joe Biden’s reelection bid. The plea by Cuban for regulatory clarity emerges amidst a tense scenario, as SEC Chair Gary Gensler faces criticism for his tough stance on crypto. As…

Consensys has taken legal action against the U.S. Securities and Exchange Commission (SEC). The lawsuit, filed on Thursday, aims to stop an impending SEC crackdown on Consensys’ MetaMask wallet and seeks a crucial ruling on the classification of Ethereum’s native token, Ether. Consensys Challenges SEC’s Stance The filing asserted, “The U.S. Securities and Exchange Commission’s (SEC) threatened regulation of Ether as a security would jeopardize the United States’ ability to use Ethereum and similar blockchain technology.” Consensys is pushing for…

The European Parliament’s recent passage of stringent anti-money laundering regulations signifies a significant crackdown on financial crime within the cryptocurrency industry. The legislation introduces tighter oversight on non-custodial wallets, aiming to bolster transparency and combat illicit activities. However, concerns linger regarding the impact on user autonomy and the broader adoption of blockchain technologies. On Wednesday, April 24, the European Parliament passed a new rule in order to combat the violation of anti-money laundering (AML) rules while addressing incidents of terror…

Ripple CEO Brad Garlinghouse plans to expand globally, focusing on blockchain-based payment solutions despite US regulatory challenges. Ripple aims to boost XRP’s role and launch a compliant stablecoin to tap into the growing market valued at over $2.8 trillion by 2028. Ripple CEO Brad Garlinghouse outlined the company’s ambitious growth strategy during an interview with FOX Business. With most of its clientele outside the US, Garlinghouse emphasized Ripple’s commitment to expanding its international presence. He highlighted the company’s focus on…

Norway’s new law regulates crypto mining due to environmental worries, aiming to align with global climate goals. The law targets data centers facilitating mining, reflecting Norway’s commitment to responsible digitalization. Norway’s government is making strides to introduce legislation to regulate data centers, primarily focusing on curbing energy-intensive cryptocurrency mining operations within its borders. The new law, revealed by local news outlet VG, underscores the government’s commitment to curb crypto mining activities’ environmental impact within its borders. Digitalization Minister Karianne Tung…

The post Stablecoin Regulation Coming This Week: Here’s What Traders Can Expect appeared first on Coinpedia Fintech News US Senators Kirsten Gillibrand and Cynthia Lummis are preparing to introduce a pro-crypto stablecoin bill in the Senate. This proposed legislation aligns with Bitcoin’s original vision as a feasible payment method. The bill aims to foster growth and innovation in the crypto community and ensure regulatory oversight to eliminate bad actors. Eradicating Malpractices: Timely Legislative Effort The announcement was made during the…

You've undoubtedly heard about non-fungible tokens (NFTs), and you may have many questions. Digital ownership can be challenging to understand, and the market hype must help develop a rational analysis. It's tough to know who to believe when many of the loudest voices are financially engaged in NFTs. In recent times, we have observed a peculiar tendency in the market. Some creators are starting to buy the NFTs they launched, creating skepticism in the industry. Our article will summarize the…

The China Banking and Insurance Regulatory Commission has cautioned against using the metaverse to raise funds illegally. A report unveiled this news earlier today, citing a statement on the regulator’s website. The watchdog pointed out that some firms are engaging in illegal fundraising, fraud, and virtual real estate speculation. Urging citizens to be vigilant, the agency said, Beware of being duped, and if you find clues of suspected illegal crimes, please actively report this to the relevant local departments. This…