Important takeaways Upbit faces potential suspension and fines due to AML and KYC violations. The Financial Intelligence Unit found 700,000 KYC procedure errors on Upbit. Upbit, which dominates South Korea’s crypto trading market, faces potential business suspension and fines for…
Important takeaways Treasury Secretary nominee Scott Bessent expressed skepticism about the need for a US CBDC, suggesting it suits countries with limited investment options. The Federal Reserve has been exploring CBDC potential since 2021, but Bessent’s comments signal a cautious…
Important takeaways The SEC accused DCG and Genesis executives of misleading investors about financial stability after 3AC’s collapse. DCG and Genesis faced penalties and legal action for defrauding investors through misleading statements, with DCG agreeing to settle the SEC charges…
Photo: Ryan M. Kelly Important takeaways Donald Trump plans to prioritize crypto as a key policy area through an executive order. The move signals a shift away from the Biden administration’s regulatory approach toward a more supportive stance toward crypto.…
Important takeaways Donald Trump is ‘susceptible’ to establishing a strategic reserve of US-based digital assets such as Solana, USD Coin and Ripple. The proposed policy shift could include the appointment of crypto-friendly officials and the end of debanking practices that…
Photo: Inc. Magazine Important takeaways Republican SEC commissioners plan to review crypto enforcement cases and clarify definition of securities. Incoming SEC Chairman Paul Atkins is expected to reverse the crackdown led by Gary Gensler, while focusing on fraud liability. The…
Important takeaways Trump to issue crypto-focused executive orders on first day of presidency, reshaping US blockchain policy. Trump’s presidency is expected to usher in major policy changes that benefit the tech and crypto industries, with figures like Marc Andreesen and…
Important takeaways The Fair Tax Act proposes to replace the US tax code with a national consumption tax and to abolish the IRS. The law is supported by several Republicans and contains provisions that affect immigrant taxation. Rep. Earl “Buddy”…
TLDR Backpack originally announced the purchase of FTX EU for $32.7 million FTX quickly clarified that no binding agreement was in place Backpack admitted the deal was not complete but denied misrepresentation The $32.7 million deal requires approval from creditors…
TLDR UK Treasury changes law to exclude crypto stake from collective investment classification, effective January 31 Changes specifically affect Ethereum and Solana staking, now recognized as blockchain validation processes Decision provides clarity in the regulatory framework for companies and individuals…
