Regulation

Embattled Thai crypto exchange Zipmex is offering its creditors 3.35 cents per dollar for initial claims, with further payouts in a recovery scenario. The proposal came as a part of the restructuring offer from the company, which owes its customers $97 million.  According to a Nov. 29 Bloomberg report, Zipmex could raise the sum from 3.35

Bitcoin (BTC) spot exchange-traded funds (ETFs) in the United States now have a “clear runway” to potential simultaneous approvals after an advanced decision to delay the bids of Franklin Templeton and Hashdex ETFs, according to ETF analysts. In a Nov. 28 X (Twitter) post, Bloomberg ETF analyst James Seyffart said the Securities and Exchange Commission

Many predicted that Binance would never embrace regulation — it would only pretend to comply in jurisdictions like the United States.  No more. Binance pleading guilty to money laundering and other federal charges on Nov. 21 means it’s giving up its free-booting ways. It will also pay a $4.3 billion fine, the largest in the

The secretary-general of Amnesty International, Anges Callamard, released a statement on Nov. 27 in response to three European Union member states pushing back on regulating artificial intelligence (AI) models.  France, Germany and Italy reached an agreement that included not adopting such stringent regulations for foundation models of AI, which is a core component of the

The United States Securities and Exchange Commission is still looking for evidence that Binance.US had a backdoor to potentially control customer assets in a similar style to FTX, according to a Nov. 27 report by the Wall Street Journal. In June, the SEC filed a lawsuit against Binance and Binance.US, alleging that the exchange was

According to Japan’s tax authorities, the average value of undeclared income in crypto fell by 19% in 2022. On Nov. 24, the Japanese National Tax Agency (NTA) released its yearly summary of tax investigations. The 13-page document also contains data on the probe into crypto tax evasion. Related: Circle and SBI Holdings partner to boost

A recent court filing suggests that Changpeng “CZ” Zhao’s legal challenges are just beginning, despite pleading guilty to violating the United States Anti-Money Laundering requirements in a settlement with the Department of Justice.  Zhao is expected to be sentenced in February 2024. He is currently challenging the government’s efforts to prevent his return to the

India is formulating regulations to oversee deepfakes, the country’s Minister for Railways, Communications, Electronics and Information Technology Ashwini Vaishnaw said on Nov. 23, expanding on Prime Minister Narendra Modi’s statement the day before about his concerns about the technology. According to a Reuters report, during discussions with academics, industry associations and social media firms, Vaishnaw said

Cryptocurrency exchange Zipmex has announced it is taking immediate action by suspending all digital asset trading in Thailand as part of its efforts to comply with regulations. According to a statement issued on November 25, Zipmex has opted to temporarily halt its operations to align with regulatory requirements with the Securities and Exchange Commission (SEC)

Recent events surrounding the crypto exchange Binance sparked significant debate about the United States’ crackdown on crypto firms. According to Omid Malekan, adjunct professor at Columbia Business School and author, the Department of Justice’s approach in the case is very different from what is seen in traditional finance. “People who sincerely believe that crypto is

As expectations grow that a spot Bitcoin exchange-traded fund (ETF) will be approved in the United States, it remains one of the hottest topics heading into 2024. In Episode 38 of Cointelegraph’s Hashing It Out, Elisha Owusu Akyaw talks to Joel Kuck, CEO of Decentralized ETF (D-ETF), about how ETFs work, the potential impact of

Former Binance CEO Changpeng “CZ” Zhao has opposed the United States government’s efforts to block his return to the United Arab Emirates (UAE) to be with his family while awaiting sentencing following his guilty plea. In a court filing on November 23, Zhao’s lawyers urged a US District judge to reject the proposed alteration of

Tether and Bitfinex have jointly agreed to drop initial opposition to a Freedom of Information Law (FOIL) request lodged in New York by a number of high-profile news publications. A statement from the USDT stablecoin issuer and cryptocurrency exchange shared with Cointelegraph notes that it is committed to transparently sharing information following a FOIL request from

The Data Act — a contentious piece of European Union legislation that includes a clause requiring the ability to terminate smart contracts — has been approved by the European Parliament. If introduced, the legislation will require a smart contract to have a “kill switch.” In a Nov. 9 press release, the parliament announced that the legislation

In response to the feedback received on its proposed Digital Payment Token (DPT) regulations, the Monetary Authority of Singapore (MAS) laid down measures for DPT service providers to discourage speculation in cryptocurrency investments. The de facto central bank of Singapore, MAS announced five ways DPT service providers can help retail clients avoid price speculation. DPT service

Our weekly roundup of news from East Asia curates the industry’s most important developments. HTX exchange hacked… again  In the fourth hack affecting the HTX (formerly Huobi Global) ecosystem in just two months, the exchange lost $13.6 million via a hot wallet hack that occurred on November 22.  In its November 23 announcement, the exchange promised to