Hungary is making strides in the world of cryptocurrency by proposing a new legislative framework that would allow banks, investment funds, and asset managers to offer services in Bitcoin and other digital currencies. This initiative, set to come into effect on June 30 if approved, signifies a significant advancement in the country’s financial sector. The
Regulation
The Nigerian government is considering imposing a hefty fine of $10 billion on cryptocurrency exchange Binance. Reports suggest that Bayo Onanuga, the special adviser to the Nigerian president, accused Binance of profiting from facilitating illegal transactions in the African country, causing significant financial losses. Onanuga stated that the proposed fine is a form of retribution
The Wall Street Memes community is currently buzzing with excitement following a recent major burn event that resulted in 5% of the $WSM token supply being incinerated. To add to the celebrations, WSM Casino has revealed plans for a massive $1 million $WSM airdrop. This announcement has generated a lot of interest and participation from
Senator Elizabeth Warren recently expressed her willingness to engage with the crypto industry under the condition that players in the sector adhere to regulatory standards similar to those in traditional finance. In a Bloomberg interview on Feb. 27, Warren highlighted the importance of collaboration with the industry. She raised concerns about the industry’s apparent stance
The Chamber of Digital Commerce recently filed an amicus curiae in support of crypto exchange Kraken in the ongoing lawsuit brought forth by the US SEC. This move by the Chamber is aimed at halting the SEC’s attempts to regulate the digital asset industry through enforcement without proper legislative authority. According to the Chamber, the
The recent approval of Binance’s guilty plea and the $4.3 billion settlement deal for breaching anti-money laundering (AML) and sanctions laws by a U.S. federal judge has sent shockwaves through the cryptocurrency industry. The U.S. Department of Justice (DOJ) had been investigating Binance over the past few years, alleging violations of the Bank Secrecy Act
South Africa recently announced ambitious plans to integrate digital payments and cryptocurrencies into its financial system in an effort to stimulate economic growth, particularly for marginalized communities. This move is outlined in the country’s 2024 budget, highlighting the government’s commitment to fostering a digital economy through collaboration between the public and private sectors to drive
Ladan Stewart, a key member of the US Securities and Exchange Commission’s legal team, recently made the decision to step down from her role at the agency to join White & Case, a pro-crypto law firm. Stewart, who previously served as Regional Trial Counsel in the SEC’s Crypto Assets and Cyber Unit, has joined White
Recently, Bayo Onanuga, a special adviser to Nigerian President Bola Tinubu, made strong accusations against Binance, a cryptocurrency exchange platform. He claimed that Binance was “blatantly setting exchange rates for Nigeria, hijacking CBN role.” Onanuga urged the EFCC and CBN to take action against platforms like Binance that he believes are manipulating the national currency.
The Hong Kong Monetary Authority (HKMA) recently introduced new regulatory standards on the sale and distribution of tokenized financial products by authorized institutions. The goal of these standards is to promote innovation while safeguarding consumer protection in the rapidly growing field of tokenization. This innovative technology involves digitizing real-world assets (RWA) using distributed ledger technology,