When the Financial Services Authority (OJK) takes over industry oversight in January 2025, cryptocurrency companies will first need to undergo evaluation in a regulatory sandbox before being granted a licence to operate in Indonesia. At a press conference on Tuesday, Hasan Fawzi, the regulator’s head of supervision for financial technology, digital financial assets, and cryptocurrency,

21Shares, one of the leading cryptocurrency exchange-traded product (ETP) issuers, is releasing a staking ETP based on Toncoin (TON).The new Toncoin Staking ETP is a 100% physically backed product that follows TON’s performance while reinvesting staking dividends into the ETP for increased performance.The product will be listed on the Swiss SIX Exchange under the symbol TONN on March 27, according to a company announcement to Cointelegraph on Wednesday. The new cryptocurrency investment product seeks to give investors the possibility to receive TON staking rewards without having to set up and run a staking node.The TON Blockchain achieves network consensus through a proof-of-stake (PoS) paradigm, which allows validators — or network security supporters — to receive rewards by staking.Users must normally have at least 600,000 TON ($2.9 million) to qualify for staking, according to the TON Foundation, however they are permitted to pool their assets. With 21Shares, investors can get the benefits of Toncoin staking without the technical complications that come with it.Instead, they will benefit from the convenience and liquidity of traditional financial markets, according to the announcement.According to Ophelia Snyder, co-founder and president of 21Shares, TONN is the “first and only TON ETP” to be established.Snyder informed Cointelegraph that the firm decided to create a staking ETP rather than a spot ETP because staking ETPs are “superior to non-staking ETPs as the staking yield benefits ETP holders.” She added. “A non-staking ETP would forego their income stream which is paid in TON, so for investors thinking in USD terms, their USD on yield cost goes up if TON goes up.” According to the 21Shares website, the Toncoin Staking ETP has a launch capitalization of $25 million, which equates to around 5 million TON as of writing.The ETP’s net asset value is initially fixed at $20. According to 21Shares, the TONN ETP offers investors a regulated and secure option to access The Open Network, a blockchain network used by popular crypto-friendly messaging apps such as Telegram. “The Open Network aims to create a comprehensive ecosystem of user-facing services like the super-app WeChat, offering products

A federal judge said that the U.S. Securities and Exchange Commission’s lawsuit against Coinbase should proceed because it presented a strong enough case to support its claim that the cryptocurrency business is running an unregistered broker, exchange, and clearinghouse. The majority of Coinbase’s move to have the SEC complaint dismissed was denied by U.S. District

The second-biggest cryptocurrency exchange, OKX, and the Malta Financial Services Authority (MFSA) agreed a little-noticed settlement last month for several “failings” pertaining to Okcoin Europe, for a total of 304,000 euros ($329,000). According to a filing, the Malta regulator’s examination discovered violations of Article 41 of the MFSA Virtual Financial Assets Act. Despite being ambiguous,

According to data from Nansen and Arkham Intelligence, cryptocurrency exchange KuCoin had withdrawals totaling about $1 billion in the last day, and its assets under management (AUM) fell 20% as a result of the trading platform being charged by US authorities. During that time, the exchange saw withdrawals of $1.083 billion via Ethereum Virtual Machine-compatible

According to a Bloomberg Intelligence report, in-kind launches and redemptions for spot bitcoin ETFs are anticipated to be permitted by Hong Kong’s financial regulator, the Hong Kong Securities and Futures Commission (SFC), in the second quarter of this year. After the SFC stated in December that it was prepared to consider such products, another company,

Following a new paper released on Tuesday, a U.K. government-backed technology working group is advising companies to implement tokenization plans in tandem with their peers. The process of digitising physical assets, mostly via blockchain technology, is known as tokenization. To enhance the effectiveness of established markets, financial institutions globally are testing tokenization and associated settlement

According to court documents, the U.S. Securities and Exchange Commission (SEC) has requested that a judge in New York punish Ripple Labs around $2 billion. Chief legal officer of Ripple Labs Stuart Alderoty said on social media on Monday that the SEC was requesting a fine of this kind and that the court records will

Galaxy Digital (GLXY), a provider of digital asset financial services, announced $296 million in net profits for its 2023 full year financial results. Compared to the $1 billion loss a year earlier, this represents a significant shift and suggests that the 2023 crypto winter is finally over. The company has profited from rising cryptocurrency prices

A new age of opportunities and innovations has been brought about by the intersection of blockchain technology with the sports sector. Originally intended to serve as the foundational technology for cryptocurrencies such as Bitcoin, blockchain is now a major factor in many other industries. Blockchain technology has helped the sports industry overcome problems including minimal

The week began with cryptocurrencies rising strongly, overcoming their recent correction phase, with bitcoin once again trading close to its 2021 peak values. During early U.S. trading hours on Monday, Bitcoin (BTC) soared beyond $69,000, breaking through the barrier for the first time in 10 days and rising more than 5% in the previous day.

The largest cryptocurrency exchange in the world, Binance, is not available locally, according to a notice released by the Philippines Securities and Exchange Commission on Monday. On March 12, the regulatory body formally requested assistance from the national telecommunications agency in “blocking the website and other web pages used by Binance, which was found to

Local media sites said on Monday that Nigerian authorities had accused Binance, the largest cryptocurrency exchange in the world, with tax evasion as the two parties’ weeks-long dispute grew more intense. The allegation cited a statement from the nation’s tax agency. The Federal High Court in Abuja received the allegations from the Federal Inland Revenue

The first of several final reports on regulations under the EU’s historic Markets in Crypto Assets (MiCA) law was released by the regulator of financial markets on Monday along with the third set of consultation materials. Proposals on the data the regulator will need from companies seeking authorization under MiCA are included in the European

RippleX has advised its users not to deposit money into the impacted AMM pools due to the ongoing technical problem. The Automated Market Maker (AMM) pools on the XRP Ledger are experiencing a technical problem, as disclosed by RippleX, the company’s development branch. The management has to notify users about fund deposits because this bug

According to reports, the Supreme Court Council made the decision to free Kwon. The Council will now consider a judgement that might approve or disapprove his extradition to South Korea. Do Kwon, a cryptofugitive from South Korea, was freed from prison in Montenegro while the Supreme Court considered requests for extradition from both South Korea

Despite recent regulatory obstacles, Ray Youssef is still hopeful about Nigeria’s chances of retaining its place in the cryptocurrency ecosystem. Even with the proposed hike in cryptocurrency registration fees, venture capitalists continue to see opportunity in Nigeria. According to Ray Youssef, CEO of NoOnes, a financial communication and P2P software, government restrictions on peer-to-peer (P2P)

Following the discovery of $2.5 billion in Bitcoin in her hands, a hotel worker was reportedly convicted guilty of money laundering in a specialised court for significant fraud cases in the United Kingdom.According to a recent BBC article, Jian Wen was found guilty of money laundering by using Bitcoin to buy “multi-million pound houses and jewellery.”The inquiry included a review of 48 electronic devices and hundreds of digital files, many of which were translated from Mandarin. Wen’s change in lifestyle caught the notice of the authorities.In 2017, she reportedly moved from a flat above a Chinese restaurant to a six-bedroom property in North London that costs over $21,420 per month.On Jan. 31, Cointelegraph revealed that the attempted purchase of a $30 million property in London served as the ultimate red flag for authorities to probe her. During the same year, she reportedly sought to buy a number of costly residences in London but was unable to pass money-laundering checks, despite her claims of earning millions from Bitcoin mining.According to UK authorities, the confiscation was the “largest of its kind in the UK.”Wen was convicted of “entering into or becoming concerned in a money laundering arrangement” and will be punished on May 10.CPS head crown prosecutor Andrew Penhale emphasized digital assets’ prominent involvement in criminal behavior in recent years. “Bitcoin and other cryptocurrencies are increasingly being used by organized criminals to disguise and transfer assets, so that fraudsters may enjoy the benefits of their criminal conduct.” However, a recent analysis from the US Treasury Department contradicts the prevalent allegation by authorities that cryptocurrency is a popular choice for money laundering, stating that cash remains the favored option.On February 8, Cointelegraph reported that the Treasury cited the anonymity and stability of cash as a significant reason why it is still the favored method of laundering illicit gains. Similarly, Nasdaq just released its “Global Financial Crime Report,” which presents data on financial crime over the previous year but makes no mention of Bitcoin or cryptocurrency.However, it estimates that over $3.1 trillion in illicit funds flowed through the global banking system by 2023.

Gary Gensler, Chair of the US Securities and Exchange Commission (SEC), has blasted crypto sector participants for failing to register with the authority.In his final remarks at Columbia Law School, Gensler underlined the necessity of obligatory disclosure for market players, citing Supreme Court Justice Louis Brandeis’ assertion that “Sunlight is said to be the best of disinfectants.”Gensler voiced concern about some players in the cryptocurrency securities markets attempting to avoid registration requirements, resulting in a lack of obligatory disclosure.He emphasized the importance of transparency in the cryptocurrency markets and suggested that some disinfection actions could assist the business. Over the last year, the SEC has brought multiple cases against cryptocurrency companies, with SEC Chair Gary Gensler continually claiming that most cryptocurrencies should be categorized as securities.For example, the government has filed a civil complaint against FTX co-founder Sam Bankman-Fried. In addition to Bankman-Fried, the SEC sued other significant cryptocurrency players, including Binance, its CEO Changpeng Zhao, and Coinbase.Many industry participants and advocacy groups have urged the SEC to set clear regulatory rules to encourage innovation in the United States.The SEC is apparently issuing subpoenas as part of its push to categorize Ethereum (ETH) as a securities under its regulatory scope. “[T]here still are those who would like to whittle away at the SEC’s disclosure regime,” the chairman of the SEC remarked. In recent years, the SEC has made headway in allowing cryptocurrency-related exchange-traded products for US exchanges, including investment vehicles tied to ETH and Bitcoin futures, as well as the first spot Bitcoin exchange-traded funds in January. In a separate event, the SEC has again delayed the deadline for Grayscale’s Ethereum Futures Trust exchange-traded fund (ETF) clearance.The SEC said that the previously scheduled deadline of March 31 will be moved to May 30.Grayscale, a digital asset management firm, has suggested an ETF that invests in Ethereum futures contracts.The SEC’s decision to extend the deadline follows a previous deferral in December 2023, when it requested additional public input on whether the ETF should be listed. Grayscale planned to issue and trade shares of their Ethereum Futures Trust ETF under New York Stock Exchange Arca Rule 8.200-E in September 2023.Bloomberg ETF expert James Seyffart suggested that Grayscale may be utilizing its futures ETF application to influence the SEC’s decision to approve the spot Ether ETF.If the SEC approves Grayscale’s futures ETF, it could bolster Grayscale’s case for the approval of its spot Ether ETF proposal.Furthermore, the SEC has postponed its judgment on whether to approve Grayscale’s spot Ether ETF, opening the application for public comment on January 25.

The spot Bitcoin ETF market has been dismal recently amid the decrease in Bitcoin’s price. Prominent analyst and CEO of CryptoQuant Ki Young Ju has forecast a potential rebound in the spot Bitcoin ETF market despite these ongoing dropping net flows.   On March 22, Ki Young Ju said on X that spot Bitcoin ETF

Argentina’s demand for bitcoin is still high since the ARS has dropped four times in value compared to the US dollar in the past year, from 0.0049 USD in March 2023 to 0.0012 USD at the moment. As a result of Argentines’ attempts to hold onto their assets amidst the continuous depreciation of their national

Recent regulations against money laundering explicitly prohibit certain cash transaction limits as well as anonymous cryptocurrency payments. The European Union (EU) has recently changed its regulations to forbid cryptocurrency transactions of any kind conducted through anonymous self-custody crypto wallets. A part of the recently put into effect Anti-Money Laundering (AML) legislation in the region is

Floki goes beyond just being a memecoin by offering its users digital accounts, debit cards, and educational resources. The development team behind Floki Inu, a memecoin with a dog theme, has released its 2024 roadmap, outlining a number of new features and utility-focused projects. This includes digital banking accounts that are regulated and that allow

Bitcoin pushed through intraday lows at the March 22 Wall Street open, amid decreased outflows from the Grayscale Bitcoin Trust (GBTC). Cointelegraph Markets Pro and TradingView data showed a lackluster BTC price performance as $63,000 returned on the radar.The largest cryptocurrency failed to maintain higher levels after an earlier rally, with its old 2021 all-time highs of $69,000 still uncontested.The day’s flows into and out of US spot Bitcoin exchange-traded funds (ETFs) began promisingly.According to initial data from crypto intelligence firm Arkham, GBTC saw only $96 million in outflows, less than a third of the total at the beginning of the week.So far this week, net outflows from spot ETFs have occurred every day, which is unprecedented in their short history. Analyzing current BTC price behavior, popular trader Skew detected purposeful attempts to disrupt bullish momentum. “Looks like someone is trying to force a cascade here again during weak price action,” he commented in a post on X (formerly Twitter) about spot order book data from the world’s largest exchange by volume, Binance. Skew noted that it was “pretty clear” that some dealers were selling into the price. Fellow trader CryptoTony joined those pushing for a $69,000 recapture to ensure that the upward trend continues. All eyes on the weekly close,” trader Jelle added.Jelle, who often has a positive outlook on the market, detailed the possible upside if Bitcoin can convert the present range to support. “If Bitcoin successfully flips this zone for support, there is very little

Lead developer B of Floki stated that the platform’s creators intend to provide customers with a regulated digital banking account that they may finance with (FLOKI) tokens that exchange in dollars, euros, and sterling. The move is a part of a larger strategy to launch staking services and debit cards, which will help the dog-themed

Following a recent blog post, AIOZ Network, a decentralised infrastructure network (DePIN), has emerged as Alibaba Cloud’s top blockchain partner for the Innovation Accelerator programme. Since the blog post was published, the price of AIOZ, the native token, has stayed steady at 90 cents. CoinMarketCap indicates that in the last 30 days, it has increased

The price of bitcoin (BTC) dropped by more than 15% during the previous week’s severe correction in cryptocurrency markets, but it later rose following the Federal Open Market Committee (FOMC) meeting on Wednesday. Positioning still appears overbought, therefore the sell-off might not be finished, JPMorgan (JPM) stated in a research report on Thursday. The market