Nigeria’s Securities and Exchange Commission (SEC) has recently made a bold move by issuing a 30-day ultimatum for crypto exchanges and digital asset traders to re-register their businesses. They have warned of enforcement actions against non-compliance, signaling a stricter stance towards the rapidly growing crypto industry. The SEC announced the initiation of the Accelerated Regulatory
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The recent settlement between Abra and CEO William “Bill” Barhydt with 25 US state regulators for providing crypto trading services without proper licenses has brought attention to the importance of regulatory compliance in the cryptocurrency industry. The Conference of State Bank Supervisors (CSBS) announced the terms of the settlement on June 26, highlighting the agreement
Louisiana Governor Jeff Landry recently made headlines by signing a bill that has significant ramifications for the world of cryptocurrency. The bill, named HB 488, goes beyond just prohibiting central bank digital currencies (CBDCs) and delves into protecting crypto mining. This move has sparked discussions and debates within the crypto community about the implications of
The trading volume of Tether (USDT) on the TRON network has set a new record, reaching a staggering $53 billion. This surpasses the average daily trading volume of payment giant Visa in the first quarter of 2024, which was reported at $42 billion. The comparison to Visa, a global leader in payment processing, underscores the
Ripple, a prominent cryptocurrency company, is facing new legal challenges following a ruling by a US judge in California. The judge approved a lawsuit against Ripple, specifically targeting the company’s CEO, Brad Garlinghouse, for allegedly making misleading statements. The lawsuit alleges that Garlinghouse misled investors into investing in Ripple’s digital asset, XRP, based on comments
Binance, the world’s largest crypto exchange, has been dealing with a growing number of regulatory hurdles in various countries such as India, Canada, and the United States. Most notably, the Financial Intelligence Unit (FIU) of India recently fined Binance 188.2 million Indian Rupees for failing to comply with the nation’s Anti-Money Laundering (AML) regulations. The
APhone has recently introduced AppNest, a decentralized app store that aims to revolutionize the traditional mobile app market dominated by tech giants like Apple and Google. This innovative platform supports both blockchain-based decentralized applications and conventional Web2 apps, offering users a truly Web3-native experience. By eliminating the hefty fees of up to 30% imposed by
The US Securities and Exchange Commission (SEC) has expressed worries about Circle’s stablecoin, USDC, as the company prepares for a multi-billion dollar initial public offering (IPO). The regulatory body has raised concerns about the potential classification of USDC and other stablecoins as securities under US law. This is not the first time the SEC has
Recently, Brazil’s Special Department of Federal Revenue has announced its plans to collect information from foreign crypto exchanges operating in the country. This move is aimed at ensuring that these exchanges are in compliance with local regulations set forth in 2019. This is a significant development as it indicates that the Brazilian government is taking
David Hirsch, the head of the SEC’s Crypto Asset and Cyber Unit in the Division of Enforcement, has officially announced his departure from the agency after almost nine years of service. During his time at the SEC, Hirsch oversaw a multitude of crypto cases, leaving a significant mark on the agency’s enforcement efforts in the