According to the governor of the Central Bank of Nigeria, the Securities and Exchange Commission is responsible for regulating cryptocurrencies. However, the governor said the central bank will collaborate with law enforcement agencies and regulators overseeing the Nigerian crypto sector. The Central Bank’s Change of Heart In a surprise announcement, Yemi Cardoso, governor of the […]
Category: Crypto Regulation
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Nigeria Proposes Rule Requiring Foreign Crypto Exchanges to Incorporate in the Country
The Nigerian Securities Regulator has proposed a rule requiring virtual asset service providers to be incorporated and maintain an office within Nigeria. The regulator has also suggested a fivefold increase in the registration fee, which must be submitted alongside license applications from prospective crypto exchanges. Proposed Regulations to Foreign Operators Targeting Nigerian Users According to […]
Hong Kong Securities Regulator Issues Warning Against ‘Unlicensed’ Crypto Platform Bybit
The Hong Kong securities regulator has labelled the crypto platform Bybit an unlicensed virtual asset trading platform (VATP). The regulator has also added Bybit’s products to its alert list of suspicious investment products. The Hong Kong regulator also advised the public to stop patronizing unlicensed entities. Regulator Threatens Enforcement Action The Hong Kong Securities and […]
South African Regulator Set to Issue Licenses to 60 Crypto Platforms by End of March
A South African regulator has said it plans to issue licenses to 60 crypto platforms by the end of March. The Financial Sector Conduct Authority has said it is still processing the more than 300 applications it received late last year. South African regulators plan to oversee the activities of cryptocurrency entities through the Financial […]
Thai Rule Change Allows Asset Management Funds to Invest in Bitcoin ETFs
Thailand-based asset management funds can now launch private funds for investing in U.S. spot bitcoin exchange-traded funds (ETFs), according to the country’s securities regulator. The approval of bitcoin ETFs by U.S. regulators has opened opportunities for Thai asset management firms to gain exposure to the premier crypto asset. Only Institutional Investors and Ultra-High-Net-Worth Individuals Are […]
South Korea Preparing Tax System to Avoid Cryptocurrency Tax Evasion
The National Tax Service in South Korea is preparing to launch a virtual asset tax system to help analyze the information received from cryptocurrency holders to avoid cryptocurrency tax evasion. Local sources reported that the agency had contracted the services of a third-party company to help in this task, and it is scheduled to be […]
Wyoming Gov. Mark Gordon Signs Legislation Recognizing DAOs
The Wyoming governor, Mark Gordon, recently signed into law a bill that establishes a legal framework for regulating decentralized autonomous organizations under existing financial laws. The enactment of this law is also viewed as an effort to attract blockchain firms to Wyoming. New Law Reinforces Wyoming Crypto-Friendly Reputation Mark Gordon, the Republican governor of Wyoming, […]
Entry of Tradfi Institutions Can Help Reshape User Perceptions Towards Crypto — Sami Start
The recent adoption of cryptocurrency by traditional financial (tradfi) institutions is likely to reshape user perceptions of this asset class and may even foster broader acceptance of blockchain technology, Sami Start, co-founder and CEO of the crypto trading platform Transak, has argued. Start added that the entrance of tradfi institutions into this market is likely […]
SEC Charges Shapeshift With Regulatory Violations, Sparking Debate on Crypto Regulation
The U.S. Securities and Exchange Commission (SEC) has leveled charges against Shapeshift AG, accusing the company of operating without proper registration. This case has ignited a broader conversation on the regulatory framework for crypto assets, with SEC Commissioners Hester Peirce and Mark Uyeda voicing their dissent and concerns about the SEC’s current approach toward crypto […]
Report: Election Concerns Halt South Korea’s Crypto and ETF Regulation Ease
South Korea has delayed its efforts to relax its crypto regulations and the prohibition on spot bitcoin exchange-traded funds (ETFs). This development follows closely behind the People Power Party’s contemplation of removing certain regulations and the ETF ban before the commencement of South Korea’s general election. South Korea Holds Back on Crypto Regulation and Reported […]