The United Arab Emirates’ Financial Services Regulatory Authority (FSRA) has recently updated its Anti-Money Laundering (AML) and sanctions rules to include provisions for digital assets. This move aligns with the Financial Action Task Force’s (FATF) Travel Rule, which aims to increase transparency and reduce anonymity in cryptocurrency transactions. The updated rules require Virtual Asset Service […]
Revolut, a digital bank, has announced that it will suspend some of its cryptocurrency services for its business clients in the United Kingdom. This decision comes as the company prepares for stricter regulations from the Financial Conduct Authority (FCA).Starting from January 3, 2024, Revolut will pause the ability of its UK customers to buy cryptocurrency […]
Russia has taken a significant step towards the implementation of its central bank digital currency (CBDC), the digital ruble, by integrating it into the nation’s tax code. President Vladimir Putin signed the new legislation into law, which aims to regulate the use and taxation of the upcoming CBDC. The tax code includes a definition of […]
The Financial Services Regulatory Authority (FSRA) in the United Arab Emirates has made updates to its Anti-Money Laundering and sanctions rules, specifically related to digital assets. The revisions, announced on December 21, include changes to provisions regarding digital assets within the Financial Action Task Force’s (FATF) Travel Rule. The updates aim to enforce the FATF’s […]
A British Virgin Islands court has issued a freezing order on approximately $1 billion worth of assets belonging to the founders of Three Arrows Capital (3AC), a cryptocurrency hedge fund that faced a significant collapse in 2022 due to a series of unsuccessful investments. The court’s directive restrains co-founders Su Zhu and Kyle Davies, along […]
Uphold, a popular cryptocurrency exchange, has announced that it will delist several cryptocurrencies, including Dogecoin, Shiba Inu, and Cardano. The move is part of a larger “delisting spree” by Uphold, which aims to comply with emerging cryptocurrency regulations in Canada. Uphold has entered into a “Pre-Registration Undertaking” with the Ontario Securities Commission to become a […]
A U.S. appeals court has finalized the legal process to confiscate over 69,000 Bitcoin and other cryptocurrencies from Silk Road, a defunct dark web marketplace. The court ruling affirms the transfer of the Bitcoin to federal control, following a previous decision that recognized the government’s claim to the digital assets associated with Silk Road’s illegal […]
The Federal Deposit Insurance Corporation (FDIC) of the United States has implemented a new rule that will impact the public perception of certain cryptocurrency firms. The FDIC’s board of directors has finalized regulations to address false advertising, misrepresentations of deposit insurance coverage, and misuse of the FDIC’s name or logo.Starting in 2025, institutions insured by […]
The head of South Korea’s Financial Supervisory Service (FSS), Lee Bok-hyun, is reportedly planning to meet with the chair of the United States Securities and Exchange Commission (SEC), Gary Gensler, to discuss cryptocurrency regulation. Lee is expected to visit the SEC in January and arrange a meeting with Gensler to discuss the current state of […]
Hardware wallet provider Ledger has announced that it will fully compensate users who were impacted by a recent vulnerability in its ConnectKit library. The compromise resulted in the theft of approximately $600,000 in digital assets from users who blind-signed on Ethereum virtual machine (EVM) decentralized applications (dApps). Ledger has committed to reimbursing the affected individuals […]
