GENIUS Act clears House vote, stablecoin law could pass this week

House representatives agree to advance several key pieces of crypto legislation.

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Will Tether’s USDT Get Banned in the US When the GENIUS Act Becomes Law?

The GENIUS Act requires stablecoin issuers like Tether to meet strict transparency standards or be banned from the US market. Tether's future hinges on whether it can comply, withdraw, or launch a separate US-based stablecoin.

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Is the US about to pass the most industry-friendly crypto law yet?

Before the elections, the cryptocurrency industry was characterized by scrutiny, strict policies, and lawsuits. But things are changing rapidly. This month, the Senate passed the GENIUS Act, a bill designed to regulate stablecoins and bring digital assets under federal oversight.

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GENIUS Act Could Unleash XRP’s 11,200% Bull Run—Expert Details the Hidden Trigger

An upcoming law could spark a huge rise in XRP’s value. A specialist reveals the overlooked factor that might drive the cryptocurrency’s price dramatically upwards. The unexpected link between the proposed legislation and XRP’s future is stirring investor interest.

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Nigeria’s president signs law classifying crypto as securities: report

Nigeria’s President Bola Tinubu has signed a new law strengthening SEC oversight of cryptocurrencies and classifying them as securities. Nigeria‘s President Bola Ahmed Tinubu has signed the Investments and Securities Act 2024 into law, classifying cryptocurrencies as securities under the…

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Scaramucci: New York’s ‘dangerously powerful’ Martin Act shouldn’t exist

Anthony Scaramucci, founder of SkyBridge Capital, says New York’s Martin Act, an anti-fraud statute enacted in 1921, should be repealed. The SkyBridge Capital founder’s call for the abolishing of the law comes in the wake of the New York Attorney…

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Nebraska enacts stricter rules for crypto ATMs to curb fraud

A bill tightening oversight on cryptocurrency ATMs to curb fraud has been signed into law in Nebraska. According to a March 12 press release from Nebraska Governor Jim Pillen, the new law, called the Controllable Electronic Record Fraud Prevention Act,…

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Coinbase accused of market manipulation, Kraken Australia hit with $5M fine: Law Decoded

A lawsuit against Coinbase concerns allegations under the Sherman Act of attempted monopolization of the Wrapped Bitcoin market.

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Get Paid to Expose Fraud: : A Simple Guide to SEC Whistleblower Payouts

The U. S. Securities and Exchange Commission (SEC) Whistleblower Program, created under the Dodd-Frank Act in 2010, offers you the chance to earn substantial financial rewards by reporting securities law violations.

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South Korea's latest crypto law - Here's everything to know!

South Korea crypto exchanges  to implement new monitoring systems by 19th July. The virtual assets user protection act (VAUPA) will introduce regulations to prevent unfair crypto trading practThe post South Korea's latest crypto law - Here's everything to know! appeared first on AMBCrypto.

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Enforcement of South Korean virtual assets law prescribed in decree

The details of enforcing the Protection of Virtual Asset Users Act are not contained in the bill, which comes into force July 19.

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New stablecoins law proposed in US — but what are the pros and cons?

Elements of the Payment Stablecoin Act have the potential to be beneficial for American consumers — but critics claim other parts are “unconstitutional.” Republican Cynthia Lummis and Democrat Kirsten Gillibrand have become something of a bipartisan, pro-crypto double act in…

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Binance slapped with a new class-action lawsuit in Canada

Cryptocurrency exchange Binance is embroiled in a legal battle in Canada as it faces a class-action lawsuit for allegedly breaching local securities laws. The lawsuit, filed in Ontario’s Superior Court of Justice, accuses Binance of selling crypto derivative products to retail investors without proper registration, contravening the Ontario Securities Act (OSA) and federal law. The […]

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Wyoming to recognize DAOs as legal entities under newly passed law

Wyoming has passed a law recognizing blockchain-based decentralized autonomous organizations (DAOs) as legal entities. The bill — titled the Decentralized Unincorporated Nonprofit Association Act (DUNA) — was signed by the state’s Governor on March 7 and will be effective starting July 1.

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UK Cracks Down On Crypto With New Law Enforcement Powers

The United Kingdom is tightening its grip on cryptocurrency, granting law enforcement agencies new powers to combat crypto-related crimes. This comes as part of the recently implemented Economic Crime and Corporate Transparency Act 2023, which equips authorities with unprecedented tools to tackle the misuse of cryptocurrencies in illegal activities.

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Law firm Vedder Price announces first Bitcoin ETF registered under the Securities Act

Vedder Price, a global commercial law firm with offices in the United States, United Kingdom and Singapore, has launched a novel bitcoin exchange-traded fund (ETF) that’s unlike other existing Futures ETFs, according to a news release the firm shared with Invezz.

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India's Law Enforcement Agency Probes Crypto Exchanges for Forex Violations

The government agency has summoned cryptocurrency exchanges under the the Foreign Exchange Management Act 1999.

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Litecoin confidential transactions spook Korean exchanges

The two exchanges cited Korea's Act on the Reporting and Use of Specific Financial Transaction Information, a law that requires crypto exchanges to put in place KYC and AML systems.

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EU Agrees on Law to Curb Online Ads, Strip Illegal Content

The Digital Services Act, targeting big tech firms like Apple and Meta, is seen as a “constitution for the internet.”

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BitMEX Founders Plead Guilty To Violating Bank Secrecy Law

The US Department of Justice said on Thursday that BitMEX founders had entered a guilty plea to charges of violating the Bank Secrecy Act by failing to set in place an anti-money laundering system. Benjamin Delo and Arthur Hayes, two of the co-founders, have agreed to each pay a $10 million fine as part of […]

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Bukele tells U.S Senators El Salvador’s Bitcoin Law is not their concern

President Bukele reacted to a U. S Senate bill on El Salvador’s Bitcoin Law by saying, “stay out of our internal affairs. ” The bill, titled “Accountability for Cryptocurrency in El Salvador (ACES) Act,” calls for the State Department to assess El Salvador’s adoption of Bitcoin with a view to “mitigate potential risks” to the United States financial […] The post Bukele tells U.

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Canada Emergencies Act Declares War Against Crypto And Freedom Convoy Protesters

Prime Minister Justin Trudeau has invoked the Canada Emergencies Act, a law that allows the government to freeze the bank accounts of protesters without the necessity for a court order. This will be the first time the law is enforced.

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Grayscale writes a letter to the SEC, accuses the regulator of violating the law

On Monday, Grayscale Investments attorneys issued a letter to the secretary of the US Securities and Exchange Commission (SEC), claiming that the agency is violating the Administrative Protections Act (APA) by discriminating against Bitcoin spot ETFs.

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10 US Congress Members Say Current Crypto Tax Rules Can Kill Industry Innovation

10 members of the US Congress have voiced their dissatisfaction with the Infrastructure Investment and Jobs Act. The group expressed their dissatisfaction with the legislation in a strongly worded letter to the Speaker of the House of Representatives A part of the law is widely believed to have unfair negative effects on the cryptocurrency industry. […]

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Germany Green Lights Massive Institutional Crypto Investment with New Law

Institutional funds in Germany would be able to allocate a portion of their portfolio into crypto-assets, following a new law that would take effect in August. Institutional Funds to Hold up to a Fifth of their Assets in Crypto According to Bloomberg on Friday (July 30, 2021), The Fund Allocation Act would come into effectRead More

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Zimbabwe Proposes Inclusion of VASPs in Its Securities Law — Move Applauded as ‘Step in Right Direction’

The Zimbabwean government recently revealed its intention to widen the definition of securities to include virtual asset service providers (VASPs). According to a document released by the cabinet, the proposed inclusion of VASPs into the category of defined securities will be made possible via the amendment of the Securities and Exchange Act. The Money Laundering […]

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Over 4,000 German Institutional Investment Funds With $2 Trillion In Assets Will Now Be Eligible To Invest Up To 20% In Bitcoin

A new law that allows German-based dominant investment funds to invest up to 20% of their portfolio each in cryptocurrency could booster investments in Bitcoin by up to $415 billion. The German Location Act, which was passed by parliament in April, takes effect today.

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Germany Opens Floodgates to Bitcoin Investing

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Hong Kong Announces Proposal to Ban Retail Crypto Trading

If the proposed act passes into law, crypto trading will only be available to professionals with $1 million in their investment portfolio. The post Hong Kong Announces Proposal to Ban Retail Crypto Trading appeared first on BeInCrypto.

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Crypto Community Not Swayed By Illogical Law to Regulate Stablecoins Like Banks

The legislation’s supporters claim this will help deter bad actors. Some crypto advocates see it as unnecessary regulation. Stablecoin Stability On Dec 2, 2020, Rashida Tlaib, Jesus Garcia, and Stephen Lynch, three congresspeople, introduced the Stablecoin, Tethering, and Bank licensing Enforcement (STABLE) Act.

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Blockchain Bites: Bitcoin’s Edge as a Hedge and Crypto’s Reaction to the STABLE Act

Crypto Twitter, like the U.S. Congress, is usually divided. A proposed law to strengthen stablecoin oversight has brought crypto together.

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Australian payments firm sues Ripple over PayID branding

New Payments Platform Australia (NPPA), a group comprising all the significant banks in Australia is suing Ripple. A Report unveiled this news on August 26, noting that the consortium sued Ripple after it went against Australia’s Trade Marks Act (1995) and the Australian Consumer Law by using the organization’s brand and trademark dubbed PayID without authorization.

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YouTube Moves Motion against Ripple Lawsuit for XRP Giveaway Scams

Coinspeaker YouTube Moves Motion against Ripple Lawsuit for XRP Giveaway ScamsCiting the Communications Decency Act of the California law, YouTube says that it cannot be treated as publishers for any third-party content.

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U.S Senate Sanctions Following the Hong Kong Security Law Could Affect Crypto Brokerages

The U. S Senate sanctions that were passed in response to the Hong Kong security law might affect crypto brokerage operations. Dubbed the ‘Hong Kong Autonomy Act,' this senate bill aims to reprimand China for eroding the city's autonomy, which had long favored its position as a financial hub.

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US Senators Introduce ‘Lawful Access to Encrypted Data Act’ — With Backdoor Mandate

US lawmakers have introduced the Lawful Access to Encrypted Data Act to ensure law enforcement can access encrypted information. This bill is “a full-frontal nuclear assault on encryption in the United States,” one expert says.

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Alleged Unlicensed Bitcoin Dealer Becomes First Singaporean Charged Under New Law

A 23-year old Singaporean accused of unlicensed Bitcoin dealing is set to become the first person to be charged under the city-state’s Payment Services Act.

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Trump Invokes Defense Production Act, Forcing GM to Make Ventilators

President Donald Trump has invoked a little-known law in order to force car manufacturer General Motors to make ventilators. [Bloomberg] Called the Defense Production Act (DPA) of 1950, the rule allows a sitting president to direct factories to produce for national defense.

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Breaking: Cryptocurrency Now Fully Legal in South Korea

In another significant development for the cryptoverse, the South Korean National Assembly has officially passed the “Act on Reporting and Use of Specific Financial Information” bill into law, making cryptocurrency trading and holding a legal activity in the nation, reports TheNewsAsia on March 5, 2020.

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Singapore Introduces Licensing for Crypto Platforms, New Payment Services Now Act in Force

The Monetary Authority of Singapore (MAS) has announced the commencement of the city-state’s new Payment Services Act. The law mandates the implementation of a licensing regime that applies to payment providers, exchanges and other platforms dealing with cryptocurrencies.

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Singapore’s Payment Services Act Creates new Opportunities for Cryptocurrencies

Singapore can become a crucial region regarding cryptocurrencies. The recently introduced Payment Services Act can pave the way for broader adoption. Similar to measures in other countries, this law helps identify legitimate exchanges and companies.

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This Country is Now Open to Global Crypto Exchanges Expanding Locally

With Singapore’s Payment Services Act coming into effect, crypto exchange platforms can now apply for operating licenses in the country. Crypto Exchange Platforms Now Legalized in Singapore Back in September 2019, Singapore’s parliament passed the Payment Services, Bill, into law, creating the Payment Services Act with the new law coming into effect on Tuesday (January 28, 2019).

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Canadian Regulatory Group Targets Crypto Exchanges Holding Users’ Digital Assets

Canada's top financial watchdog has told crypto exchanges they will be subject to securities law if they act as custodians to users' digital assets.

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Bitcoin Billionaire Tim Draper Might Not Invest in India Ever Again Due to Controversial Citizenship Law

India's Citizenship Amendment Act is now threatening investments with bitcoin billionaire Tim Draper expressing concerns over the new law. The post Bitcoin Billionaire Tim Draper Might Not Invest in India Ever Again Due to Controversial Citizenship Law appeared first on CCN.com

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Crypto Tax Bill, Virtual Value Tax Fix Act, Is Reintroduced By North Carolina Congressman

Ted Budd, a Republican Congressman from North Carolina, has recently decided to reintroduce a crypto tax bill this week. The law will be a move to the Ways & Means Committee of the House of Representatives soon.

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You can now get 100,000s of books for FREE — thanks, confusing copyright law

Book lovers, rejoice — hundreds of thousands of works are now online for free! Free! FREE! How? The exciting, rock and roll world of the public domain and US copyright law. Oh dear Oh yes.  Basically, before the 1976 US Copyright Act, American works only had a copyright length of 28 years, according to Motherboard.

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Keep calm and wank on: UK porn block delayed for the third time

With less than a month to go until pornographic sites are forced to implement their own age-checking software for UK users, the government has delayed the rollout for the third time running in over a year, says Sky News.

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Australian Government Publishes Update on Cryptocurrency and ICO Rules

The Australian Securities and Investments Commission (ASIC) has published an update on how it intends to regulate crypto-related businesses and initial coin offerings (ICOs).

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Tether Partly Backed by Bitcoin, Court Transcription Reveals

Tether, a stablecoin tied to the dollar that is meant to mediate the volatility of other cryptocurrencies, is partly backed by bitcoin. As detailed in court documents obtained by The Block, Tether admitted to using some of the cash reserves meant to back its stablecoin to purchase bitcoin, among other assets.

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Op Ed: A Summary of

In the latest on the ongoing legal dispute between the New York Attorney General (NYAG), cryptocurrency exchange Bitfinex and stablecoin issuer Tether, the New York Supreme Court has modified an April 24, 2019, preliminary injunction and now Bitfinex is allowed to continue using the Tether reserves that were loaned to it to maintain its ordinary course of business, such as paying employees and consultants.

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