Whatever you prefer to call it — crypto, blockchain or Web3 — this new segment of the digital economy is booming across Africa. If you’ve been sleeping on the sector, now’s a good time to wake up. Why? Well for one, according to analytics firm Chainalysis, Africa’s crypto market increased in value by more than
Regulation
The Council of the European Union has cut Russians off from certain cryptocurrency services as part of a package of restrictive measures against Russian President Vladimir Putin’s “brutal aggression against Ukraine and its people.” In a Friday announcement, the EU council said it would be closing potential loopholes in using digital assets for Russian entities
The number of firms permitted to offer crypto services to U.K. residents under temporary registration status from the Financial Conduct Authority has dropped from 12 to five. According to a Thursday update to its list of “Cryptoasset firms with Temporary Registration,” the United Kingdom’s financial regulator named CEX.IO, Revolut, Copper, Globalblock and Moneybrain as companies
Lawmakers in Australia want to regulate decentralized autonomous organizations (DAO). In this three-part series, Oleksii Konashevych discusses the risks of stifling the emerging phenomenon of DAOs and possible solutions. Regulating a decentralized autonomous organization (DAO) as a company, first of all, means registration as a company. But who remembers why we need that registry in
European Central Bank executive board member Fabio Panetta provided an overview of the central bank’s current research on a retail central bank digital currency Friday when he spoke at the IESE Business School Banking Initiative Conference on Technology and Finance. Panetta said the issuance of central bank digital currencies, or CBDCs, is “likely to become
In an important precedent, a Supreme Court judge in New York state’s Yates County ruled in favor of cryptocurrency mining firm Greenidge Generation, dismissing a petition filed by a coalition of environmental activists. According to an Apr. 7 press release by Greenidge, judge Daniel Doyle dismissed a petition against the Greenidge Generation Holdings that a
The Federal Deposit Insurance Corporation, the United States government corporation that insures depositors at U.S. commercial and savings banks, issued a financial institution letter Thursday. The letter requests the institutions supervised by the agency to notify the appropriate regional director of their activities with crypto-related assets or their intentions to engage in crypto-related activities. According
Institutional investors rejoice, there is one more way to gain exposure to Bitcoin (BTC). The United States Securities and Exchange Commission (SEC) announced overnight the approval of a fourth Bitcoin futures exchange-traded fund (ETF). Fund group Teucrium is behind the most recently approved Bitcoin Futures ETF. The ETF joins a growing number of approved futures
Republican Senator Pat Toomey, the ranking member for the Senate Banking Committee, has drafted a bill proposing a regulatory framework for stablecoins in the United States. According to a draft released Wednesday, the ‘Stablecoin Transparency of Reserves and Uniform Safe Transactions Act’, otherwise known as the Stablecoin TRUST Act, proposed the digital assets be identified
Skybridge Capital founder Anthony Scaramucci believes the blockchain industry has a very bright future, but he is concerned about the “very weak leadership” in American politics. Scaramucci is a former Director of Communications at the White House and Skybridge Capital manages the $7 billion Skybridge Bitcoin Fund. He spoke candidly at the Australian Financial Review
The European Commission is calling for financial services specialists to weigh in on the potential rollout of a digital euro. In a Tuesday notice, the European Commission’s Directorate‑General for Financial Stability, Financial Services and Capital Markets Union said it would be preparing an assessment of the central bank digital currency based on the expected impact
The Singaporean government has approved legislation that will give the Monetary Authority of Singapore, or MAS, additional power to respond to crypto firms doing business outside the country. Records from the Parliament of Singapore show the government passed the Financial Services and Markets Bill on Tuesday following a second reading on April 4. According to
Gary Gensler, chair of the United States Securities and Exchange Commission, said the agency’s protections that apply to investors of traditional assets should extend to those in the crypto market. In prepared remarks released Monday for the Penn Law Capital Markets Association Annual Conference, Gensler said he had requested SEC staff to explore getting crypto
Coinbase Ventures, an investment arm of American crypto exchange Coinbase, shared a plan to invest $1 million in various Indian cryptocurrency and Web3 initiatives via an in-person pitching event. In a blog post drafted while he was in India, Coinbase CEO Brian Armstrong revealed that the venture firm intends to tap into India’s software talent
The George Mason University Antonin Scalia Law School National Security Institute hosted a webinar on Wednesday, March 30, titled “Crypto and National Security: How to Validate American Innovation and Verify U.S. National Security.” Journalist Laura Shin moderated the discussion. CEO of the Crypto Council for Innovation Sheila Warren, executive director of Coin Center Jerry Brito,
The Indonesian government is reportedly planning to charge a 0.1% capital gains tax on crypto investments as well as a value-added tax, or VAT, on digital asset transactions starting from May 1. According to a Friday Reuters report, Hestu Yoga Saksama, a spokesperson for Indonesia’s tax office, said the country will be imposing “income tax