Donald Trump on Monday offered few details about a new cryptocurrency business that the Republican former president, his family and associates unveiled in a live event on X Spaces. Trump engaged in a wide-ranging discussion that touched on the second apparent assassination attempt against him on Sunday and his shift from being a cryptocurrency skeptic to … Read more
The digital assets industry is expanding globally, with blockchain and cryptocurrency-related businesses on the rise. In a new development, Qatar has made a move to attract Web3 developers to establish their operations in the country. The Qatar Financial Centre (QFC) in Doha has launched the ‘Digital Assets Lab’ to facilitate the development, testing, and commercialization … Read more
When Congress established the Securities and Exchange Commission in 1934, it was responding to myriad failures of an antiquated financial system. The regulatory architecture that emerged provided the foundation for nearly a century of American financial dominance. Today, Congress faces a comparable moment: the opportunity to modernize America’s financial infrastructure for the digital age. Two … Read more
Misuse of virtual digital assets (VDAs) for money laundering has been a top concern for regulators globally since cryptocurrencies began attracting widespread investor interest. India and the UAE, two regions seeing significant growth in the VDA sector, have now joined forces to address this issue. This week, the Financial Intelligence Units (FIUs) of both nations … Read more
Australia has been tightening its regulatory oversight across various sectors. In the latest development, the country has imposed a $5.1 million fine (roughly Rs. 43 crores or AUD 8 million) on Kraken, the US-based crypto exchange. Kraken operates in Australia through the digital currency platform Bit Trade, which has been instructed by authorities to pay … Read more
The Reserve Bank of India (RBI) released its Financial Stability Report for 2024 on December 30. In the report, the apex bank shared its observations around the emerging practice of tokenising assets on blockchains. While acknowledging that this practice is still in its early stages, the RBI flagged potential concerns, noting that asset tokenisation is … Read more
In recent years, rising crime in the crypto space has drawn the attention of the FBI and other global law enforcement agencies. To aid in tracking laundered crypto funds, Tron, Tether, and TRM Labs established T3, a specialized financial crime unit aimed at curbing illicit activities. In a recent update, Tron confirmed that T3 has … Read more
The European Securities and Markets Authority (ESMA), the financial watchdog for the 27-country trading block, has carried out a peer review of Malta’s application of the Markets in Crypto Assets (MiCA) regime, with specific attention to the island’s fast-tracked authorization of a certain unnamed crypto firm. ESMA’s Peer Review Committee (PRC) focuses on the authorization … Read more
Zettai, the Singapore-based parent company of WazirX, presented a financial restructuring plan to the Singapore High Court this week. The court reviewed and approved the proposal for users of WazirX who lost funds during an alleged hack in July 2024, resulting in a displacement of approximately $230 million (around Rs. 1,900 crore). According to a … Read more
Stablecoins USDC and EURC have been officially recognised as crypto tokens in Dubai. On February 24, Circle, the issuer of these stablecoins, announced that the Dubai Financial Services Authority (DFSA) has approved USDC and EURC for use within the Dubai International Financial Centre (DIFC). This approval allows firms operating in the DIFC to integrate these … Read more