Recent reports suggest that South Korea is on the verge of significant changes in its regulatory framework concerning cryptocurrencies, specifically targeting institutional investors. As the local media channel Yonhap disclosed, the country’s Financial Services Commission (FSC) is set to lift some of the existing strictures that have previously restricted institutional participation in the crypto trading
Regulation
Banco de Investimentos Globais (BiG), one of Portugal’s prominent financial institutions, has recently instituted a prohibition on fiat transfers to cryptocurrency platforms. This move comes as a response to newly established guidelines from authoritative bodies such as the European Central Bank (ECB), the European Banking Authority (EBA), and the Bank of Portugal, which outline the
Rostin Behnam’s announcement to resign from the Commodity Futures Trading Commission (CFTC) effective January 20 marks a significant transition period for the agency, coinciding with the inauguration of President-elect Donald Trump. Behnam’s leadership saw the CFTC take a notable stance on regulating the burgeoning world of cryptocurrencies, although his approach was characterized by a more
As the European Union finalizes its Markets in Crypto-Assets (MiCA) regulations, a notable shift is occurring within the stablecoin ecosystem. Tether, a prominent player in global stablecoin volume, has strategically chosen to invest in StablR, a European stablecoin issuer. This investment reflects Tether’s proactive approach to align its operations with the upcoming regulatory framework that
As the European Union approaches the implementation of its Markets in Crypto-assets (MiCA) regulations, the crypto market is bracing for significant shifts. Set to take effect on December 30, these regulations aim to standardize the handling of cryptocurrency across the region, enhancing investor protection and increasing market transparency. However, concerns are mounting over how these
Recent findings reveal that an overwhelming number of hedge funds operating in the cryptocurrency space encounter difficulties in securing banking services. According to a December report from The Wall Street Journal, approximately 120 out of 160 surveyed hedge funds—around 75%—faced significant obstacles, starkly contrasting with 20 alternative investment firms in other sectors that reported no
In a significant stride toward enhancing its cryptocurrency holdings, Tether, the issuer of the USDT stablecoin, has reportedly acquired a staggering 7,629 Bitcoin, which translates to an estimated value of $705 million. This substantial investment pushes Tether’s total Bitcoin reserves to an impressive 82,983 BTC, with a market valuation hovering around $7.68 billion, according to
The Internal Revenue Service (IRS) has recently offered a temporary reprieve regarding the reporting rules for cryptocurrency cost-basis, a move that could greatly benefit digital asset investors. This relief highlights a growing awareness among tax regulators about the intricate and often confusing landscape of cryptocurrency taxation. Specifically, the IRS has delayed the implementation of a
In a significant move to strengthen its control over the financial ecosystem, China has instituted new regulations targeting foreign exchange activities, particularly those associated with cryptocurrencies. As outlined by the South China Morning Post, these measures, enacted by the State Administration of Foreign Exchange (SAFE), mandate banks to surveil and report suspicious transactions related to
Recent reports indicate that Morgan Stanley’s crypto subsidiary, E-Trade, is on the verge of initiating cryptocurrency trading services. This anticipated expansion is a notable shift, as it aligns with projections of a friendlier regulatory landscape influenced by the incoming administration of President-elect Donald Trump. The motivation behind this strategic pivot is multifaceted, with E-Trade preparing
