The recent actions taken by the US Securities and Exchange Commission (SEC) against crypto lending firm Abra have sent shockwaves through the industry. Settled charges were filed against Abra for its failure to register its crypto asset lending product, Abra Earn, as well as against Plutus Lending LLC, the owner of Abra, for operating as
Regulation
In recent years, France has emerged as a hotspot for crypto businesses, attracting major players such as Binance and Crypto.com to set up their European headquarters in Paris. The country’s favorable tax rates, access to a talented workforce, and innovative environment in the Web3 space have contributed to its appeal as a crypto hub. Moreover,
The European Union’s AI innovation has been hindered by what Meta CEO Mark Zuckerberg and Spotify CEO Daniel Ek refer to as a “fragmented regulatory structure.” They insist that the current framework is characterized by inconsistent implementation, creating confusion among companies and impeding their ability to fully embrace the opportunities presented by AI technology. Zuckerberg
The DeFi Education Fund and the Blockchain Association have collaborated to challenge the Securities and Exchange Commission’s Consolidated Audit Trail (CAT) database. The main argument presented in their amicus brief revolves around significant privacy and security concerns posed by the CAT, especially for participants in the digital asset market. They believe that the CAT could
In recent news, the Indian government has announced its plans to introduce comprehensive regulations for the crypto sector. This move comes after various discussions and consultations within the government to address the growing concerns surrounding digital currencies. The first step in this plan is to release a consultation paper in the upcoming weeks to gather
German authorities recently carried out a coordinated nationwide operation to seize $28 million in cash and 13 crypto ATMs in an effort to combat unlicensed activities within the country’s crypto market. Spearheaded by the Federal Financial Supervisory Authority (BaFin), this operation is part of a larger initiative to enhance oversight and regulation in the rapidly
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
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
