Regulatory Updates
Hong Kong Launches Asia’s First Inverse Bitcoin ETF Amidst Volatile Market Conditions
CSOP Asset Management on 22 July 2024 announced the launch of Asia's first inverse Bitcoin exchange-traded fund (ETF), the CSOP Bitcoin Futures...
Keith E. Cassidy Named Interim Acting Director of SEC’s Division of Examinations
The Securities and Exchange Commission, on 22 July 2024, announced that Richard Best, the Director of the Division of Examinations, will take leave...
Marathon Digital Ordered to Pay $138 Million for Breach of Contract, Reflecting Challenges in Upholding Ethical Standards in Crypto Industry
According to a judgment dated July 19, 2024, a federal court jury in Los Angeles has awarded Michael Ho $138 million after finding Marathon Digital...
Ethereum Exchange-Traded Funds Set to Launch Amid Market Optimism and Speculation
The much-anticipated launch of Ethereum exchange-traded funds (ETFs) in the United States will take place tomorrow, following the Securities and...
Japanese Crypto Industry Urges Government for Immediate Tax Reforms
On July 19, 2024, the Japan Blockchain Association (JBA), an influential body representing leading Japanese crypto exchanges and blockchain...
SEC Launches Interagency Securities Council to Bolster Enforcement Coordination Across Federal, State, and Local Agencies
The Securities and Exchange Commission (SEC) announced on July 19, 2024, the launch of the Interagency Securities Council (ISC) to enhance...
MAS Addresses Global IT Outage, Ensures Smooth Financial Operations
The Monetary Authority of Singapore (MAS) today, 19 July 2024, acknowledged a global outage impacting IT systems of various organizations worldwide,...
IRS Enhances Identity Authentication Process for FATCA Registration
On 17 July 2024, the Internal Revenue Service (IRS) announced that it will enhance the identity authentication process for financial institutions...
SEC Awards Over $37 Million to Whistleblower, Bolstering Regulatory Compliance
On 17 July 2024, The Securities and Exchange Commission (SEC) announced an award exceeding $37 million to a whistleblower whose information...
WazirX Faces $230 Million Security Breach Amid Regulatory Challenges
On 17 July 2024, Indian cryptocurrency exchange WazirX has revealed a major security breach resulting in the theft of over $230 million from one of...
OKX Announces Withdrawal from Nigerian Market Amid Regulatory Crackdown
Cryptocurrency exchange OKX has informed its Nigerian clients that they have until 16 August 2024 to close their positions as the exchange ceases...
SEC Approves More Ether ETFs, Paving the Way for Expanded Trading
The U.S. Securities and Exchange Commission (SEC) on 17 July 2024, approved multiplle Ether exchange-traded funds (ETFs), including Grayscale’s mini...