The Distributed Ledger Technology (DLT) Foundations Regulations 2023 were unveiled by the Registration Authority (RA) of Abu Dhabi Global Market (ADGM), initiating a significant step in the regulatory development of digital assets on a regional and global scale. This novel framework, unveiled just now, is designed to meet the particular legal needs of Decentralised Autonomous

In order to spare everyone the spectacle of a full trial, the Securities and Exchange Commission (SEC) is requesting a summary judgement from a federal judge. The SEC claims that there is “no genuine dispute as to any material fact” in its case against Do Kwon and Terraform Labs. “It is undeniable that buyers invested

The police in Singapore have released a warning regarding a new phishing scam variation wherein hackers gain access to a victim’s contacts and WhatsApp account. Through the use of a QR code, the scam tricks victims into connecting their WhatsApp account to a phoney phishing website, thus giving the owner of the website secret access.

The global payments behemoth PayPal (PYPL) announced in a filing that it had received a subpoena from the U.S. Securities and Exchange Commission (SEC) seeking documentation regarding its USD stablecoin. No additional information was provided. In August, the company launched PayPal USD (PYUSD), a stablecoin backed by the US dollar. In its quarterly earnings report,

According to more guidance on activities related to tokenized securities, Hong Kong will permit primary dealing of tokenization, the Securities and Futures Commission (SFC) said on Thursday. One of the two SFC announcements that were meant to be read together stated, “The SFC is of the view that it is appropriate to allow primary dealing

Software developer MicroStrategy (MSTR) revealed the acquisition of an additional 155 bitcoins (BTC) in October in conjunction with its third-quarter earnings report. This brings the total amount of BTC acquired since the beginning of Q3 to 6,607. By the end of October, the company that Michael Saylor co-founded in Tysons, Virginia, had amassed 158,400 bitcoins,

Following the implementation of a new marketing regime for the industry on October 8, the U.K.’s financial watchdog released guidelines on its crypto advertising rules on Thursday. This provided clarification on how the rules should be applied.The rules, which come after the Financial Conduct Authority’s June–August consultation, mandate that companies provide suitable risk warnings on any correspondence with UK clients that include a “promotional” aspect.They also touch on the necessity of proof to back up statements made in advertising materials. “While the new rules for firms marketing crypto to U.K. consumers are aligned with the existing rules for other high-risk investments, we’ve engaged extensively with industry and designed this guidance to specifically support crypto firms complying,” Lucy Castledine, the FCA’s director of consumer investments, said in a statement. According to the guidelines, cryptocurrency assets that make this claim will have to provide proof.According to the FCA, firms can submit the proof through disclosures, independent audits, and deposit confirmations.According to the letter, the business will have to “demonstrate that claims of stability, such as links to a fiat currency, are bona fide.” Particular hazards associated with lending and borrowing should be included in financial advertising.Furthermore, robust yield models require unambiguous proof of possible rates of return.When person A offers to allow person B to send cryptocurrency to person A in exchange for a rate of return, this creates a complex yield model.Also, the FCA wants businesses to inform clients in plain English of any changes to asset ownership, both legally and beneficially.Additionally, businesses will have to perform due research on the cryptocurrency asset and service they are endorsing, which includes making sure the cryptocurrency isn’t connected to any fraudulent activities. “Firms should not use

Six specialised investigators in cryptology are needed as the National Crime Agency (NCA) of the United Kingdom builds up a cybercrime team. “This role will be part of a new project that will form a specialised cryptocurrency and virtual assets team,” the job posting said. The perfect applicant will be knowledgeable about cryptocurrency, capable of performing sophisticated blockchain tracing, and knowledgeable about crypto investigations.The United Kingdom has been strengthening its arsenal to combat cryptocurrency fraud.A bill granting law enforcement organizations greater authority to seize and freeze cryptocurrency was approved by parliament last week.The National Police Chiefs’ Council (NPCC) launched an initiative last year that saw the appointment of crypto tactical advisers to police departments across the country. This year, more positions will be added to the group. “The role will support existing and new investigations where specialist cryptocurrency experience is required along with taking a proactive lead in identifying targets for further development,” the posting said. The

As Commissioner Christy Goldsmith Romero recently stated, the majority of the 1,530 tips that the Commodities Futures Trading Commission (CFTC), which oversees the derivatives markets in the United States, has paid out $16 million to whistleblowers this year. “This year, the majority of tips that were received concerned cryptocurrency—an industry that still has widespread fraud

The domain of the decentralised cross-chain protocol Frax Finance was taken over early on Wednesday, but the project team was able to regain control of it with assistance from their domain registrar. “Name.com has contacted us to verify that the domains are currently being redirected to their correct DNS under our management. After conducting a

The German Federal Financial Supervisory Authority (BaFin) has awarded a crypto custody licence to BitGo, a U.S.-regulated cryptocurrency custody company. According to a press release, BitGo, which was granted a New York trust charter by the New York Department of Financial Services (NYDFS) in 2021, has been storing cryptocurrency assets for its clients since 2019

The financial services giant PayPal has successfully registered as a crypto service provider with the U.K. Financial Conduct Authority, according to the regulator’s website.After being added to the registry on Tuesday, Paypal UK Limited is allowed to do “certain cryptoasset activities.”Businesses that provide cryptocurrency services in the United Kingdom are required to adhere to the FCA’s anti-money laundering regulations and be granted registration. In August, PayPal announced that it was temporarily pausing cryptocurrency purchases in the country in order to comply with the recently imposed marketing regime. Landing on the register, which opened in 2020, means PayPal can also approve its own crypto-related communications.

Upon the conclusion of its two-day policy meeting on Wednesday afternoon, the Federal Reserve’s Federal Open Market Committee (FOMC) is widely anticipated to maintain its benchmark fed funds rate at 5.25%–5.50%.Looking for hints about the future course of monetary policy, traders in both traditional and cryptocurrency markets will be concentrating on the policy statement that goes along with the rate decision and Fed Chair Jerome Powell’s press conference after the meeting. The Fed is expected to hike interest rates one more time (timing undecided), according to Fed speakers over the past few weeks. This will bring an end to the historic rate hike cycle that has seen the fed funds rate rise from 0% in March 2022 to the current range of 5.25% to 5.50%.However, recent volatility in the financial markets, a few weakening economic indicators, and a recent uptick in geopolitical tensions may provide the Fed with a reason to abandon the notion of further rate increases. Perhaps waiting for more fuel, Bitcoin’s impressive October breakout from the $27,000 region has been stuck in the $34,000–$35,000 range for the past week.Few are anticipating a push outside of that range, but any dovish signal from the Fed could provide one. “We still see another U.S. rate increase as unlikely in the current cycle,” Matthew Ryan, head of market strategy at Ebury, told CNBC. “As a compromise, we think that the Fed will stress that rate cuts are not on the cards anytime soon, with easing to begin no sooner than the second

Over 100,000 people joined the nonprofit Stand With Crypto in the first few weeks of its launch, according to organizers of Coinbase’s (COIN) successful effort to mobilize a grassroots movement of pro-amateur cryptocurrency advocates across the nation.Contacting legislators and learning about their views on cryptography are made simple on the group’s website.The chief strategist of Stand With Crypto, Nick Carr, stated that 80,000 people have contributed money so far, surpassing the $2 million milestone.Brian Armstrong, the CEO of Coinbase, is the sole donor of half of that funding. “Our goal is to truly unite and coalesce the crypto grassroots community,” Carr said in an interview. He said the group is trying to be a “one-stop shop” for crypto advocacy.  More than 16,000 calls and emails have been made to members of Congress, according to him.The contributions are intended to support the expansion of the organization’s website’s policy-influencing features, which include outreach to legislators using artificial intelligence and information portals that display legislators’ positions on cryptocurrency.According to Carr, the group is also organizing more live events.Despite being described as a grassroots initiative, Coinbase, a digital asset exchange, is credited with giving the group its start. Coinbase continued to support the initiative even after its August launch. “Centralized lobbying is not going to get it done in Washington,” said Kara Calvert, head of U.S. policy for Coinbase, in an

With Tornado Cash, cryptocurrency obtained through a Telegram chatbot Unibot exploit has been exchanged for ether and is currently in transit. PeckShield claims that the hacker transferred the cryptocurrency to Uniswap first, and then to Tornado Cash. The protocol previously revealed that, while switching to a new router, it fell victim to a token approval

According to Kyodo News, on October 31, the Japanese government declared that nine people’s assets as well as one cryptocurrency trading company had been frozen because they were suspected of providing financial support to the Palestinian militant organisation Hamas. In addition to the United States and other countries, this action takes place in the midst

The European Union’s cryptocurrency law, MiCA, is set to be implemented six months earlier than planned in Spain. This development is expected to have an impact on cryptocurrency companies that have already registered in the nation, such as Binance, Kraken, and Coinbase (COIN). Effective at the end of the following year, the regulations will essentially

A defamation lawsuit filed against Mike Dudas, a crypto venture investor, by OPNX, the cryptocurrency trading platform connected to the founders of Three Arrows Capital, has been dismissed. As a trading hub for investors’ claims against bankrupt companies, the multifaceted cryptocurrency exchange moved to “voluntarily discontinue” its lawsuit on October 27, according to the document.

Animoca Brands, a venture capital firm specialising in the metaverse and gaming, intends to collaborate with Saudi Arabia’s NEOM Investment Fund on Web3 initiatives. According to a Monday announcement, the investment fund of NEOM, a planned new urban area in northwest Saudi Arabia that is intended to serve as a centre for trade, technology, entertainment,

A recent announcement on Monday stated that asset tokenization tests for fixed income, foreign exchange, and asset management products are being planned by regulators in Singapore, Japan, the United Kingdom, and Switzerland. The Financial Services Agency (FSA) of Japan, the Financial Conduct Authority (FCA) of the United Kingdom, and the Swiss Financial Market Supervisory Authority