In a progressive move aimed at fostering technological innovation within the cryptocurrency sector, the UK Treasury has amended the Financial Services and Markets Act 2000 (FSMA). Effective from January 31, this amendment exempts crypto staking from being classified as a collective investment scheme, a designation that previously applied to pooled investment vehicles and was shrouded
Regulation
As Gary Gensler prepares to exit his position as Chair of the Securities and Exchange Commission (SEC), stakeholders within the cryptocurrency industry reflect on the contentious legacy he leaves behind. Throughout his tenure, which has seen an aggressive regulatory posture towards crypto companies, Gensler’s sentiments have often drawn sharp criticism. His recent interview with Bloomberg
South Korea has consistently been a notable player in the global cryptocurrency arena, yet its regulatory framework has often been perceived as restrictive. Transitioning from a traditionally cautious approach, the South Korean government is reportedly set to ease its regulations around cryptocurrency trading for institutional investors. The Financial Services Commission (FSC) is spearheading this initiative,
On January 6, news broke that Rostin Behnam, the Chair of the U.S. Commodity Futures Trading Commission (CFTC), would resign effective January 20. This timing coincides with the inauguration of President-elect Donald Trump, creating a pivotal moment for the incoming administration. Behnam’s departure allows the new administration to appoint an interim leader who would manage
Recent developments in Portugal’s banking landscape signal a notable shift towards restricting cryptocurrency transactions. Banco de Investimentos Globais (BiG), one of the nation’s leading financial institutions, has begun to block fiat transfers to cryptocurrency platforms. This prohibition aligns with guidelines set forth by the European Central Bank (ECB), the European Banking Authority (EBA), and the
The European Union (EU) is on the brink of implementing its much-anticipated Markets in Cryptoassets (MiCA) regulations, effective December 30th. This upcoming framework aims to create a more regulated crypto market by enforcing stringent compliance measures, particularly focusing on enhancing transparency and combating illicit financial activities. A significant aspect of these regulations is the mandate
Recent insights from The Wall Street Journal highlight a staggering trend for the crypto hedge fund sector, revealing that over 120 of these funds have faced significant obstacles in securing and maintaining banking relationships. According to a survey conducted by the Alternative Investment Management Association (AIMA), which assessed 160 hedge funds, approximately 75% reported difficulties,
As the European Union edges closer to implementing its Markets in Crypto-Assets (MiCA) regulations, the landscape for stablecoin issuers is on the brink of transformation. Tether, a heavyweight in the realm of stablecoins, has made a significant investment in StablR, a stablecoin issuer that boasts an Electronic Money Institution (EMI) license from the Malta Financial
Tether, the issuer of the popular stablecoin USDT, has made a noteworthy strategic move by increasing its Bitcoin holdings by 7,629 BTC, valued at approximately $705 million. This acquisition, uncovered through on-chain data by Arkham Intelligence, has propelled Tether’s total Bitcoin assets to an impressive 82,983 BTC, which translates to around $7.68 billion as of
The landscape of cryptocurrency investment is characterized by rapid fluctuations and evolving regulatory frameworks. Recently, the Internal Revenue Service (IRS) took a crucial step by offering temporary relief on its cost-basis reporting rules for cryptocurrencies, sparking discussions among investors and analysts alike. This decision comes as a recognition of the complexities involved in crypto taxation,