cryptoregulation
An Indian high court has ruled that dealing in cryptocurrencies is not illegal. The ruling came in relation to a case involving a crypto Ponzi scheme. Per a local report, Justice Sasikanta Mishra of the Orissa High Court has asserted that cryptocurrency is not considered money under Indian law. A suspected Ponzi SchemeThe ruling pertains to a case involving two individuals suspected of operating a Ponzi scheme. The scheme revolved around a bogus cryptocurrency dubbed the Yes World Token. Targeting private individuals, the scam promised investors lucrative returns on investments. Like any Ponzi...
Invezz
Ethereum exchange-traded funds (ETFs) will be approved this summer, according to U.S. Securities and Exchange Commission Chair Gary Gensler. The revelation was made during a budget hearing on Thursday. During the hearing, Gensler added that the approval process has been going smoothly since the initial approval. Ether ETFs coming this summerBack in May, the regulator had approved applications for the listing of eight spot Ether ETFs. While it wasn’t a green light to initiate trading, the 19-b forms were approved. This is the initial hurdle when applying for an ETF. The SEC considered proposals...
Invezz
Cryptocurrency exchange Traded Products (ETPs) continue to have a record-breaking 2024, according to latest research. New data, released this week by digital asset and fintech investment firm Fineqia International Inc (CSE: FNQ), showed that ETPs trading in digital assets reached a new all-time high in May 2024. The research, in which Fineqia studied 194 top international ETPs, showed that ETPs with digital assets as underlying collateral increased their total global Assets Under Management (AUM) to $95.4 billion in May – a new record amount. The total AUM recorded at the end of May represents...
Invezz
Yesterday, rumors abounded in the crypto sphere that United States regulator the Securities and Exchange Commission (SEC) has begun discussions to approve Ethereum spot ETFs in America, as it did for Bitcoin ETFs back in January. Then, hours later, the SEC issued an official notice that it had approved for trading the Ethereum spot ETF filings from many of the major asset management players: BlackRock, Fidelity, Grayscale, VanEck, Franklin Templeton, ARK 21Shares, Invesco Galaxy, and Bitwise, respectively. Ethereum has been tearing up the headlines ever since – but what does the news actually ...
Invezz
On Wednesday, the House of Representatives passed the FIT21 bill with a 279-136 vote. This bill aims to set a clear regulatory framework for crypto assets. The vote saw bipartisan support, with 71 Democrats, including former House Speaker Nancy Pelosi, joining 208 Republicans in favor of the FIT21 bill. Patrick McHenry, Chair of the House Financial Services Committee, noted that the bill would “cement the United States’ global leadership” in technological innovation, invention, and adoption. However, the White House and SEC Chair Gary Gensler have expressed concerns about the bill’s potential ...
Invezz
The U.S. Congress has passed a bill targeting the SEC’s Staff Accounting Bulletin No. 121 (SAB 121). This action marks the first standalone crypto legislation seeking to reverse the requirement that crypto assets be recorded as liabilities on balance sheets. Passed last week, the legislation under the Congressional Review Act (CRA) seeks to repeal SAB 121. The bill mandates that entities holding crypto assets for clients recognize these assets and corresponding liabilities at fair value in their financial statements. SAB 121 faces criticismThis requirement has been heavily criticized for poten...
Invezz
The U.S. Senate voted 60-38 on Thursday to overturn the controversial Securities and Exchange Commission (SEC) crypto policy known as Staff Accounting Bulletin No. 121 (SAB 121). This move aligns with a similar effort by the House of Representatives to erase the policy. Despite this legislative push, President Joe Biden has pledged to veto the resolution, maintaining the policy’s enforcement. Bipartisan support and veto challengeThe vote saw a dozen Democrats joining a majority of Republicans in favor of overturning SAB 121, comfortably surpassing the simple majority needed for passage. Howeve...
Invezz
Regulators in Turkey have finalized a bill set to regulate cryptocurrencies in the nation. According to local reports, Abdullah Güler, Group Chairperson of the ruling Development and Justice Party (AK Party), chaired a meeting on this matter on May 12 to finalize the draft law. Treasury and Finance Minister Mehmet Şimşek noted earlier this year that these measures are nearing the final phase of technical studies and aim to enhance the operational standards of trading platforms. The draft law is scheduled to be presented to Parliament this week. Legitimising cryptocurrenciesThe proposed legisla...
Invezz
Binance is set to resume its cryptocurrency operations in India, according to the latest regulatory news around the world’s largest crypto exchange by trade volume. On Friday, an official of the Financial Intelligence Unit (FIU) said that the anti-money laundering watchdog had approved both Binance and KuCoin to offer services in the country. The two exchanges are the first offshore digital assets platforms to receive a regulatory nod from FIU, CoinDesk reported citing the AML agency’s head Vivek Aggarwal. KuCoin pays $41,000 fine, Binance awaits penalty confirmationAccording to the report, Ku...
Invezz
Terraform ecosystem’s sister tokens LUNA and UST collapse was preceded by founder Do Kwon’s tweet stating that he is deploying more capital. The tweet did not age well, two years post the crisis, Terraform Labs and founder Do Kwon are faced with $5.3 billion in penalties. Two year anniversary of Do Kwon’s promise to deploy more capitalOn May 9, Do Kwon assured the Terraform community that he is deploying more capital to tackle the de-peg of algorithmic stablecoin UST. On May 11, Kwon presented a strategy to re-establish UST’s peg. Kwon’s tweet from 2022 has resurfaced on X. In the two years si...
Invezz
閲覧を続けるには、ノアドット株式会社が「プライバシーポリシー」に定める「アクセスデータ」を取得することを含む「nor.利用規約」に同意する必要があります。
「これは何?」という方はこちら