regulation | ForkLog

ForkLog 20 25.01.2024

FSB to Address Cryptocurrency and AI Regulation in 2024

The Financial Stability Board (FSB) will focus on global standards for the digital asset industry and the regulation of artificial intelligence. This is outlined in the organization’s report on plans for 2024. According to the document, a key priority for the FSB will be “ensuring the effective implementation of a coordinated global regulatory framework for […]

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ForkLog 72 25.01.2024

SEC Delays Decision on BlackRock’s Spot Ethereum ETF

The SEC has postponed its decision on BlackRock’s spot Ethereum ETF application until March 10. SEC Chair Gary Gensler reminded that the approval of a spot Bitcoin ETF was limited to just one cryptocurrency. Optimistic experts anticipate Ethereum ETF approval in May with a 50-70% probability, while skeptics point to regulatory resistance. SEC has postponed […]

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ForkLog 10 24.01.2024

CoinShares Analysts Predict Bitcoin Surge to $58,700

Approval of a spot Bitcoin ETF and the anticipated easing of the Fed’s monetary policy in the first half of 2024 will drive the price of digital gold to approximately $58,700, according to CoinShares analysts in their annual report. The experts presented a matrix showing the correlation between inflows as a percentage of AUM for […]

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ForkLog 15 24.01.2024

FINRA Uncovers Violations in 70% of Crypto Asset Advertisements

A targeted investigation by FINRA has revealed potential breaches of public communication rules in 70% of informational materials concerning cryptocurrency products. We have identified potential violations of FINRA Rule 2210 (Communications with the Public) in 70% of crypto asset communications we reviewed, according to a report published today on the results of a targeted exam. […]

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ForkLog 28 23.01.2024

Abra to Reimburse $13.6 Million to Clients in Texas Regulator Settlement

The Texas State Securities Board announced a settlement in principle with the crypto platform Abra to resolve allegations of misleading investors in the sale of its Abra Earn and Abra Boost products. The regulator took enforcement action against the company in June 2023. The Board’s claims included deliberate concealment of financial information, failure to meet […]

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ForkLog 61 22.01.2024

Uzbekistan Enacts Penalties for Illegal Cryptocurrency Activities

On January 19, Uzbekistan’s President Shavkat Mirziyoyev signed a law introducing criminal and administrative penalties for illegal activities related to cryptocurrency mining and use. The Code of Administrative Responsibility has been amended with two new articles. One article addresses the illegal acquisition, sale, or exchange of cryptocurrencies, as well as the activities of service providers […]

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ForkLog 40 19.01.2024

EU to Mandate Crypto Firms to Verify Clients for Transactions Over €1000

The EU Council and Parliament have provisionally agreed on a package of measures to combat money laundering and terrorist financing (AML/FT), which will tighten existing regulations for the crypto industry. The agreement expands the list of entities subject to these regulations. “The new rules will cover most of the crypto sector, requiring all service providers […]

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ForkLog 7 19.01.2024

South Korea Urged to Reconsider Stance on Spot Bitcoin ETFs

On January 18, the office of the President of South Korea requested the local Financial Services Commission (FSC) to reconsider its stance on spot Bitcoin ETFs, according to The Block. During a briefing, Yoon Tae-yen, the head of policy, stated that the government is exploring the possibility and methods of incorporating foreign regulations into local […]

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ForkLog 29 17.01.2024

Ripple CEO Rules Out IPO Amid ‘Hostile’ SEC Environment

Ripple had considered going public outside the United States due to the “hostile” stance of the SEC, but has postponed these plans. This was stated by the fintech company’s CEO, Brad Garlinghouse, in Davos. LFG! 2024 is going to be big. https://t.co/3CcCQNo4D9 — Brad Garlinghouse (@bgarlinghouse) January 16, 2024 “Trying to go for an IPO […]

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ForkLog 32 16.01.2024

Circle CEO Predicts U.S. Leadership in Stablecoin Regulation

Jeremy Allaire, founder and CEO of Circle, has expressed optimism about the prospects for global stablecoin regulation in 2024, predicting that the United States will take the lead. The head of the USDC issuer believes that as part of broader cryptocurrency regulations, U.S. authorities will propose investor protection standards for the stablecoin sector. Allaire opines […]

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ForkLog 35 12.01.2024

Genesis to Pay $8 Million in Settlement with New York Regulator

Genesis Global Trading, a subsidiary of DCG, has reached an agreement with the New York Department of Financial Services (NYDFS). The decision follows an investigation that “identified significant failures in anti-money laundering and cybersecurity programs.” NEW: Superintendent Adrienne A. Harris Announces $8 Million Penalty Against Genesis Global Trading, Inc. After DFS Investigation Finds Significant Failings […]

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ForkLog 18 12.01.2024

SEC Commissioner Criticizes Approval of Spot Bitcoin ETFs

The decision by the SEC to approve exchange-traded funds based on the spot price of Bitcoin is “unjustified and anti-historical,” according to Commissioner Caroline Crenshaw. She stated this in a recent announcement. “It sets us on the wrong path of neglecting investor protection. I cannot agree that these actions serve our legislative or core mandates, […]

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