Regulation

Hong Kong’s push to become a crypto hub has opened an opportunity for not just crypto companies but many state-affiliated banks in China as well. The Chinese banks have shown interest in building partnerships and onboarding regulated crypto companies in Hong Kong, despite a blanket bank on crypto-related activities in mainland China. The Hong Kong

Securities and Exchange Commission (SEC) chair Gary Gensler could be facing unemployment after United States Representative Warren Davidson declared he would introduce legislation to fire the SEC boss. In an April 15 tweet responding to Coinbase’s legal chief, Paul Grewal, the crypto-friendly Representative announced his intention to have Gensler removed from his role after the

A new draft bill providing a framework for stablecoins in the United States was published on the House of Representatives’ document repository, a few days before a hearing on the topic on April 19. The draft puts the Federal Reserve in charge of non-bank stablecoin issuers, such as crypto firms Tether and Circle, respectively issuers

The United States House Committee on Financial Services a.k.a the Financial Services Committee will hold a hearing on April 19 to discuss stablecoins’ position as a means of payment and whether or not the ecosystem needs supporting legislation. The Financial Services Committee issued a memorandum to announce an upcoming hearing titled “Understanding Stablecoins’ Role in

The law firm representing victims affected by the FTX collapse have publicly appealed to NBA superstar Shaquille O’Neal to show “courtesy and honor” by actually accepting their legal complaint after several unsuccessful attempts. In an April 14 tweet, The Moskowitz Law Firm revealed its team have been standing outside O’Neal’s TNT studios in Atlanta “all

Despite the unprecedented regulatory pressure that crypto has been facing recently in the United States, the fight between the American government and the crypto industry has just started, believes ShapeShift CEO Erik Voorhees.  According to the entrepreneur, U.S. authorities still don’t see crypto as an existential threat to the fiat system, and their recent crackdown

South Korean prosecutors confirmed that Terraform Labs CEO Do Kwon sent 9 billion won ($7 billion) to Kim & Chang — a top South Korean law firm — right before the spectacular collapse of the Terra ecosystem.  Kwon’s decision to send millions to the law firm was flagged by prosecutors as a deliberate move, which allegedly

The United States Attorney’s Office for the Southern District of New York has announced the sentencing for an individual who pleaded guilty to wire fraud charges connected to “unlawfully obtained” Bitcoin from the Silk Road marketplace in 2012. In an April 14 announcement, the U.S. Justice Department said James Zhong was sentenced to one year

Rostin Behnam, Chairman of the Commodity Futures Trading Commission (CFTC), recently spoke out about the allegations levied against Binance, claiming that the beleaguered cryptocurrency exchange’s leadership knowingly operated outside of U.S. laws governing the exchange of commodities and futures.  Speaking at a fireside chat that took place at the DeCenter Spring Conference at Princeton University

Advocacy organizations and safety groups have urged Mark Zuckerberg’s social media giant Meta to halt plans to allow minors into the metaverse. Online safety groups and experts sent a letter to the Meta CEO on April 14, calling out the firm to scrap its plans to invite teenagers and young adults to join its metaverse

Our weekly roundup of news from East Asia curates the industry’s most important developments. Bitcoin’s day of glory on Chinese TikTok On Apr. 10, Douyin, the version of Tiktok exclusive to Chinese users, began publishing price quotes related to Bitcoin (BTC) and other cryptocurrencies such as Ethereum (ETH), Dogecoin (DOGE), and Ripple (XRP). The move

A United States court has issued a summons to Tron founder Justin Sun’s Singapore address in connection to a Securities and Exchange Commission (SEC) civil case. In an April 12 filing, the U.S. District Court for the Southern District of New York ordered Sun to respond to the summons within 21 days by contacting attorney

The bill, seeking to enshrine crypto miners’ rights in Montana, United States, successfully passed the third reading in the state’s House of Representatives. Now, the only thing that is required for it to become law is the Governor’s signature.  Bill number 178, prohibiting local authorities from obstructing the crypto mining operations, was voted in during

Texas lawmakers in the state’s Senate have approved a bill aimed at largely removing incentives for crypto miners operating under the seemingly friendly regulatory environment. In a 30-1 vote on the floor of the Texas State Senate on April 12, lawmakers in the 88th legislative session passed Senate Bill 1751, legislation that would amend sections

Cryptocurrency exchange FTX may be considering restarting in the future, according to the legal team behind the debtors. In an April 12 hearing in United States Bankruptcy Court for the District of Delaware, lawyers with Sullivan & Cromwell representing FTX said the crypto firm had recovered roughly $7.3 billion in liquid assets. A March filing

The State Tax Administration Agency of the Government of Spain (AEAT) increases its efforts to charge the local holders of crypto assets. The AEAT intends to dispatch 328,000 warning notices to those who should pay their taxes on crypto for the 2022 fiscal year.  As the local newspaper El Mundo reported on Apr. 11, the