Regulatory Updates
Terraform Labs and Do Kwon to Pay $4.47 Billion Settlement to SEC: Company Winds Down as Community Takes Over
On June 12, 2024, Terraform Labs, the firm behind the defunct LUNA and TerraUSD, along with co-founder Do Kwon, reached a monumental settlement...
Trump Pledges Support for Bitcoin, Promises to Safeguard Crypto Industry
In a recent event, CleanSpark Inc.'s Executive Chairman Matthew Schultz shared insights on Donald Trump's evolving stance on cryptocurrency. Trump,...
Digital Economic Council of Australia: A Transformative Leap Beyond Blockchain
The leading industry association formerly known as Blockchain Australia has rebranded as the Digital Economic Council of Australia (DECA). This...
South Korean Bank Employee Admits to Embezzling $7.3 Million for Crypto Investments
An employee at South Korea’s Woori Bank has confessed to embezzling $7.3 million from company funds to invest in cryptocurrency. The unnamed...
SEC Considers ProShares’ Spot Ether ETF Application
The United States Securities and Exchange Commission (SEC) has added a spot Ether (ETH) exchange-traded fund (ETF) application from asset manager...
Investors Face Turmoil as South Korean Regulators Unveil Crypto Exchange Failures
Investors in South Korea’s booming cryptocurrency market are facing a digital dust storm after a shocking revelation by financial regulators. A...
Intel Teams Up with African Development Bank to Transform Africa’s Digital Ecosystem
The African Development Bank and global technology company Intel have formalized their cooperation to transform the African digital ecosystem. The...
RBI Releases Draft Framework for Self-Regulation in FinTech Sector
The Reserve Bank of India (RBI) on 30th May 2024 unveiled a Draft Framework for Self-Regulatory Organization(s) (SROs) in the FinTech sector, aiming...
Peru Partners with India to Develop UPI-Inspired National Payment System
The Central Bank of the Republic of Peru (BCRP) is set to develop a payment system modeled after India’s Unified Payments Interface (UPI) through an...
SEC Invites Regulated Entities to Submit Diversity Self-Assessments
The Securities and Exchange Commission (SEC) on June 5, 2024 initiated its biennial collection of Diversity Self-Assessment Submissions from...
MAS Expands Fair Dealing Guidelines to All Financial Institutions and Services
The Monetary Authority of Singapore (MAS) on 30 May 2024 issued an updated set of Guidelines on Fair Dealing, expanding its scope to include all...
SFC Ends Non-Contravention Period for Virtual Asset Trading Platforms in Hong Kong on June 1, 2024
Effective June 1, 2024, all virtual asset trading platforms (VATPs) in Hong Kong must be licensed by the Securities and Futures Commission (SFC) or...