The Nigerian Federal Inland Revenue Service (FIRS) is set to implement new legislation aimed at taxing the burgeoning crypto sector in Nigeria. This move, as reported by Business Day, comes as part of FIRS Executive Chairman Zacch Adedeji’s plan to modernize the country’s regulatory framework and foster economic growth through innovation. Adedeji’s special adviser on
Regulation
During a recent Crypto4Harris event, Senate Majority Leader Chuck Schumer emphasized the importance of regulatory clarity in the crypto industry. He made it clear that Congress has a responsibility to enact sensible regulations that will bring both sides of the aisle together. Schumer compared crypto regulation to artificial intelligence regulation, highlighting the need for proper
Recently, Pro-Bitcoin Democrat House Representative and lawyer Ro Khanna shared his expectations regarding the Biden administration’s plans to release a crypto regulation roadmap in the near future. Khanna expressed hope that following discussions between the White House and industry leaders, the administration would issue a positive statement outlining a path towards reasonable regulation. This move
Tyler Winklevoss, the co-founder of Gemini, recently made some bold statements regarding the cryptocurrency industry and the Vice President of the United States, Kamala Harris. His criticism of the “reset” in Harris’ crypto stance as a “scam” has caused quite a stir in the crypto community. Let’s take a closer look at Winklevoss’ arguments and
Thailand’s Securities and Exchange Commission (SEC Thailand) recently announced the launch of a Digital Asset Regulatory Sandbox, aimed at supporting the testing and development of services related to digital assets. This initiative provides a structured environment for businesses to explore innovative solutions within a regulated framework. The sandbox is designed to facilitate the integration of
OKX CEO Star Xu recently issued a warning to users about the potential risks associated with interacting with the crypto mixer Tornado Cash. Xu emphasized that deposits from sanctioned entities, such as Garantex and Tornado Cash, or withdrawals to these entities could trigger compliance risks and lead to account suspension. It was made clear that
The potential addition of options features for Bitcoin (BTC) exchange-traded funds (ETFs) in the US is creating a buzz in the market. Bloomberg ETF analyst James Seyffart believes that these features might be included in the fourth quarter. However, there is a possibility that this offering could kick off as early as the third quarter,
In a long-awaited decision, the District Court of the Southern District of New York has imposed a hefty $125 million fine on Ripple following a lawsuit filed by the US Securities and Exchange Commission (SEC). This legal battle, which has spanned over four years, has finally come to a conclusion with this ruling. The court’s
A new bill introduced in the Senate, spearheaded by Senator Catherine Cortez Masto and Senator Chuck Grassley, is set to enhance the investigative authority of the US Secret Service in addressing crimes involving cryptocurrency. The bipartisan effort aims to combat transnational cybercriminal activities, specifically focusing on unlicensed money-transmitting businesses, structured transactions, and fraud against financial
In a recent discussion with Joey Garcia, the Director and Head of Regulatory Affairs at Xapo Bank, insightful details were shared on the journey and evolution of digital assets regulation. This article will delve into the key insights provided by Garcia and analyze the impact of his work in shaping regulatory frameworks for the crypto
