Regulation

Artificial intelligence research lab Fetch.ai has been granted a request to have major cryptocurrency exchange Binance identify individuals behind a $2.6 million hack. According to a Friday Reuters report, the Royal Courts of Justice in London has ordered Binance to identify the hackers and seize the stolen assets. Fetch.ai reportedly claimed that hackers stole $2.6

Due to their anonymity or pseudonymity, digital assets are perceived as entailing the risks of money laundering and financing terrorism. In October 2018, the Financial Action Task Force (FATF) adopted changes to its recommendations on financial activities involving digital assets, adding the definitions “virtual asset” (VA) and “virtual asset service provider” (VASP).  Since then, the

This weekly roundup of news from Mainland China, Taiwan, and Hong Kong attempts to curate the industry’s most important news, including influential projects, changes in the regulatory landscape, and enterprise blockchain integrations.   After ThorCHAIN and Chainswap were exploited, it’s safe to say that hacking cross-chain bridges seems to be the style of the season. This

The United States Securities and Exchange Commission’s chairperson Gary Genslerannounced this month that the crypto industry should not escape the purview of the regulator. He highlighted that decentralized finance (DeFi) trading and lending protocols need particular attention when it comes to investor protections. Regulation can extend into a menu of options that covers custody, reporting,

Australian crypto influencer Alex Saunders is being sued by a disgruntled follower of his YouTube channel and advice service Nuggets News. The plaintiff, New Zealand-based Ziv Himmelfarb, filed a formal written order on Aug. 11 in the Victorian Supreme Court demanding that Saunders repay 479,270 Australian dollars ($353,027) in losses and damages for unpaid loans

United States lawmakers will soon destroy a massive opportunity for job creation and a diverse workforce in blockchain technology if they do not amend infrastructure bill HR 3684, which would require blockchain developers to attain broker status on U.S. soil. HR 3684 does not recognize the taxonomy of the asset class. Not every crypto asset

Ethereum co-founder Vitalik Buterin is on a mission to make humans immortal. Buterin, 27, proposes the idea that “aging is an engineering problem.”  He is not alone in his combined interest in Bitcoin and biohacking. Famous biomedical aging researcher Aubrey de Grey, Xanadu architect and Agoric chief scientist Mark Miller, Bitcoin Cash billionaire Roger Ver

India’s regulatory uncertainties have not affected the investor’s sentiment towards crypto as the latest data from crypto exchanges suggests a rising influx of users.  Binance-owned Indian crypto exchange WazirX reported a 2,648% growth to date in user signups from smaller cities across India, also known as tier-II and tier-III cities, that can host up to

Asset manager VanEck is filing for a Bitcoin Strategy exchange-traded fund after it unsuccessfully attempted to launch a similar fund four years ago.  According to U.S. Securities and Exchange Commission, or SEC records, VanEck filed a prospectus for a Bitcoin Strategy exchange-traded fund, or ETF, on Aug. 9. Unlike its Bitcoin (BTC) or Ether (ETH)

It probably came as little surprise last year when crypto intelligence firm Chainalysis declared East Asia “the world’s largest cryptocurrency market,” accounting for 31% of all cryptocurrency transacted during the previous 12 months. The region has a broad base of retail users along with a solid foundation of crypto traders and institutions, and China alone

The new commissioner of Japan’s Financial Services Agency (FSA), Junichi Nakajima, believes the country needs to think carefully before making Bitcoin (BTC) and other cryptocurrencies more accessible to the general public. Nakajima believes crypto assets like Bitcoin have the potential to benefit the public as a quick and cheap way to transfer money, he said in

A compromise which proposed amending provisions in the bipartisan infrastructure deal on crypto failed to meet the requirements of a unanimous consent request in the Senate, making the bill likely to go to a full vote without additional changes. This afternoon, Senator Tom Carper, the Democratic floor manager for infrastructure bill HR 3684, put forth the

Senators putting forth differing amendments for provisions in the infrastructure deal which apply to crypto have reached a compromise after a legislative setback.  In a press conference today, Senator Pat Toomey said there was now a bipartisan agreement on an amendment to infrastructure bill HR 3684 backed by Cynthia Lummis, Rob Portman, Mark Warner, Kyrsten

The provisions aim to raise $28 billion for infrastructure funding through expanded digital asset taxation, and will impose broad third-party reporting requirements on any crypto firm deemed to comprise a “broker.” On August 9, general counsel to Compound Finance, Jake Chervinsky, tweeted that the Senate had voted 68 in favor to 29 against ending debate

A Cayman Islands-based company and two individuals may be the first subjects in decentralized finance, or DeFi, to face enforcement action from the U.S. Securities and Exchange Commission. According to a Friday announcement, the Securities and Exchange Commission, or SEC, said that this is the first case involving securities using DeFi technology which resulted in an

Cryptocurrency is a new technology that has entered the common discourse, setting the stage for a complete upheaval of our long-established financial systems. Of course, some skepticism is unavoidable. Crypto’s association with criminality adds to this shared sense of skepticism. There is no denying that cryptocurrency has and continues to be used for illicit activities