News list for " Regulatory"
Although regulators around the world have banned Polymarket on the grounds that it is a gambling platform, lawyer Aaron Brogan has good reason to argue that it is not a gambling platform. Aaron Brogan, a New York-based cryptocurrency lawyer, argues that on the surface, prediction markets are just an online version of gambling, which is not true. "If you are a state-licensed gambling product...
On January 22, according to a report by Zhitong Financial Network, Ye Zhiheng, executive director of the intermediary department of the Hong Kong Securities Supervision Commission, revealed that the new license of the virtual asset trading platform will be approved in the near future, and it is expected that there will be good news in Quarter 1 in 2025. It is reported that the regulator has completed on-site inspections of all applicants, and there are currently 11 platforms in the application l...
On January 19, the central bank and the Securities Supervision Commission jointly held a symposium on stock repurchase and re-lending to further play the role of policy tools in stabilizing capital markets. Xuan Changneng, member of the Party Committee and Vice President of the People's Bank of China, and Wang Jianjun, member and Vice Chairperson of the Party Committee of the China Securities Supervision Commission, attended the meeting and delivered speeches. Financial Institution Group said th...
The Stuttgart Digital Exchange says Germany's Federal Financial Supervisory Authority has granted it a Crypto Asset Service Provider (CASP) license under the MiCA regulation, which comes into effect at the end of 2024. It is the first German company to be granted a license that allows it to operate throughout the European Union.
In a coordinated enforcement action by financial regulators in 48 U.S. states, Block, Inc. will pay a $80 million fine and take corrective action to correct violations of the Bank Secrecy Act (BSA) and Anti-Money Laundering (AML) laws that protect the financial system from illegal use. It is reported that more than 50 million consumers use Block's mobile payment service Cash App to spend, send money, store and invest. In an interstate settlement signed this week, Block...
According to a public regulatory filing, the SEC has delayed the decision to apply for the conversion of the Bitwise 10 Crypto Index Fund (BITW) into an ETF until late July. This means that it will still take longer for the Bitwise ETF to be approved. In addition, Bloomberg ETF analyst James Seyffart pointed out that the next deadline for the grey release's GDLC is February 2. Delays are also expected.
Federal regulators are deciding whether to investigate the legality of trading Crypto.com futures contracts that allow investors to bet on who will win major sporting events, including the Super Bowl. According to people familiar with the matter, the five-member Commodity Futures Trading Commission (CFTC) is voting on a measure that would require a review of these contracts.
According to a public regulatory filing, Nasdaq has filed an application with the Securities Exchange Commission (SEC) to increase the position limit of the BlackRock Spot Bitcoin ETF (IBIT) from 25,000 to 250,000. It should be noted that this application also requires the approval of the SEC to take effect. The position limit refers to the maximum share of the ETF that a single investor or institution can hold. The head of Bitwise Alpha Strategies said: "Considering the trading of this ETF...
The Federal Reserve's top regulatory official, Michael Barr, announced Monday that he will step down in the coming weeks, clearing the way for President-elect Trump to reshape federal banking regulation. Barr, who has served as the Fed's vice chairperson for regulation since 2022, said he would step down on Feb. 28 or earlier if a successor is confirmed. He said he would continue as a federal...
According to the disclosure documents, the Federal Deposit Insurance Corporation (FDIC), one of the US banking regulators, once warned the banking industry in 2022 and 2023 that it should stop providing banking services to cryptocurrency operators. The relevant documents were filed with the judge on behalf of the lawyer of the cryptocurrency trading platform Coinbase, which is litigating with the FDIC. After the judge approved the application, the FDIC disclosed last month that it issued a warni...
On December 31st, the China Securities Supervision Commission and the People's Bank of China co-opted 20 participating institutions on the basis of the first batch of 20 participating institutions, and formed a pool of 40 alternative institutions according to conditions such as classification evaluation and compliance risk control. During each batch of operations, about 20 institutions were selected to participate in the People's Bank of China's invited tenders operation according to the scale o...
Xiao Gang, former chairperson of the China Securities Supervision Commission, said at the "AI + Finance" summit of the National Wealth Development Research Cooperation Platform on December 22 that artificial intelligence is a "double-edged sword". On the one hand, it has led a new round of technological revolution and industrial revolution, profoundly changed social production and life, and also profoundly changed the business format and model of the financial industry. On the other hand, it has...
Luuk Strijers, CEO of Deribit, said he is skeptical about the sustainability of many crypto trading platforms due to regulatory pressure. He said: "I think a lot of platforms will cease to exist, so rather, I think the regulatory framework will be strengthened globally and make many of the platforms in the current huge list no longer viable, either because the operating costs are too high or...
The Federal Reserve Goolsbee said that the policy rate is now restrictive, and the policy is much less restrictive than before; the interest rate will drop a little, and the policy rate is still far from the neutral rate. It is expected that the Federal Reserve interest rate will be "moderately lowered" in 2025, and the path of interest rates will be determined by employment and price conditions. And said that the Federal Reserve interest rate may fall in 12-18 months.
OTC Markets Group (OTCQX), a regulated market operator for U.S. and international securities, announced that Japanese-listed company Metaplanet today began trading on OTCQX under the symbol MTPLF, providing U.S. investors with more ways to invest in Metaplanet. Metaplanet uses the Bitcoin standard and specializes in Bitcoin treasury strategies.
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