regulation | ForkLog

ForkLog 8 23.03.2024

Gary Gensler Criticizes Crypto Firms for Avoiding Registration

Gary Gensler, Chairman of the SEC, stated during a speech at Columbia Law School that cryptocurrency companies need “a little disinfectant.” This was reported by The Block. He noted that disclosure by financial companies ensures market efficiency and investor protection, yet some in the crypto industry seek to evade registration requirements. “A lack of registration […]

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ForkLog 17 22.03.2024

How the EU AI Act will affect industry and people: a briefing

On 13 March, the European Parliament adopted the EU Artificial Intelligence Act. The measure became a legislative saga: for years, opponents of regulating the AI industry vowed to block it, yet a compromise was ultimately reached. ForkLog asked participants of Privacy Day 2024 how the act will affect the AI industry overall, why France and […]

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ForkLog 13 22.03.2024

WisdomTree Secures NYDFS License to Operate in New York

Asset manager WisdomTree has received approval from the NYDFS to operate as a limited liability trust company under New York banking law. With this approval, WisdomTree Digital Trust Company, a subsidiary, will be able to offer local clients services in cryptocurrency custody, stablecoin issuance, and reserve management. The license will enable the firm to launch […]

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ForkLog 44 21.03.2024

Bitcoin Market Regulation in Ukraine Included in €50 Billion Reform Plan

The Ukrainian government approved a reform plan under the Ukraine Facility program, which aims to secure €50 billion from the EU between 2024 and 2027. The document includes provisions concerning the cryptocurrency market. In the context of combating corruption and money laundering, Ukraine commits to aligning its local legislation with European standards and FATF norms […]

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ForkLog 16 21.03.2024

Coinbase’s Chief Legal Officer Urges SEC to Approve Ethereum ETF

Coinbase argues for treating Ethereum as a commodity. Coinbase Derivatives to list futures for Dogecoin, Litecoin, and Bitcoin Cash. The SEC lacks substantial reasons to reject applications for an ETH-ETF, according to Coinbase’s Chief Legal Officer, Paul Grewal. Sigh… again with the ETH misinformation as we await a decision on ETH ETPs. Ok—let’s talk about […]

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ForkLog 27 21.03.2024

Uzbekistan Establishes Regulations for Mining Pools

The NAPP of Uzbekistan has approved regulations governing the operation of mining pools. The document defines key terms and sets requirements for establishing relationships with national and foreign miners, revenue distribution, and maintaining a participant registry. An electronic platform must be created for the pool’s operation, with separate accounting for each miner’s transactions. Within the […]

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ForkLog 19 20.03.2024

Coinbase Allies Urge SEC to Establish Cryptocurrency Regulations

The Crypto Council for Innovation (CCI), venture firm Paradigm, the U.S. Chamber of Commerce, and others have rallied behind Coinbase in its call for the SEC to formulate rules for the digital asset industry, reports The Block. In court filings as amicus curiae, these organizations argued that the Commission lacks a clear strategy for regulating […]

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ForkLog 15 18.03.2024

Nigeria Proposes 400% Increase in Registration Fees for Crypto Firms

The Nigerian Securities and Exchange Commission (SEC) has proposed a 400% increase in registration fees for cryptocurrency companies amid ongoing issues with Binance. The amendments affect digital asset issuers, exchanges, and custodial platforms. The regulator suggests increasing: the application fee from 100,000 naira to 300,000 naira (from ∽$64 to $190 at the current rate); the […]

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ForkLog 20 15.03.2024

Hong Kong Regulator Labels Bybit as ‘Suspicious’

The Hong Kong Securities and Futures Commission (SFC) has listed Bybit among suspicious cryptocurrency exchanges. The agency has added 11 of the company’s products to its list of unsafe investments. According to the notice, clients of the platform risk losing all their investments. This list includes: futures; inverse futures; options; leveraged tokens; Dual Asset; Dual […]

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ForkLog 14 14.03.2024

Analyst Identifies Key Drivers for Bitcoin ETF Demand

The inclusion of spot Bitcoin ETFs by major platforms and the approval of options based on them are expected to be “powerful catalysts” for demand by the year’s end, according to Bloomberg analyst Eric Balchunas, as reported by The Block. Currently, exchange-traded funds are not available to clients of RIA platforms managing $7-10 trillion in […]

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ForkLog 24 14.03.2024

EU Adopts Landmark AI Regulation

The European Union Parliament approved the world’s first comprehensive set of rules governing AI activities. A preliminary political consensus was reached in early December. On March 13, the law was ratified in a parliamentary session. The votes were as follows: In favor — 523; Against — 46; Abstentions — 49. ?? Democracy: 1️⃣ | Lobby: […]

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ForkLog 16 13.03.2024

EU Approves Criminal Penalties for Circumventing Sanctions with Cryptocurrencies

On March 12, Members of the European Parliament approved a directive criminalizing violations and circumvention of EU sanctions. The directive includes standardized and stricter penalties for: refusing to freeze accounts and wallets, as well as conducting transactions with fiat or cryptocurrency assets of sanctioned individuals and companies; concealing the true owner of property and failing […]

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