Regulation

South Korea established guidance that specifies which types of digital assets will be considered and regulated as securities in the country. In a press release, the Financial Services Commission (FSC) highlighted that digital assets that fit the characteristics laid out in the country’s Capital Markets Act will be treated as securities. This law considers securities

The New Jersey Bureau of Securities has ordered three website operators to stop luring romance-seeking victims into their fraudulent cryptocurrency investment schemes. The three firms hit with the cease and desist orders were Meta Capitals Limited, Cresttrademining Limited and Forex Market Trade, according to a Feb. 3 press release from New Jersey’s Attorney General Matthew Platkin.

When the financial system or the economy as a whole undergoes a rapid and large decline, it is said to be in a financial crisis. Financial assets like stocks, bonds, and real estate often see a sharp and significant decline in value during financial crises. They can also be identified by a decline in credit

Google Cloud has reportedly invested $300 million into artificial intelligence (AI) startup firm Anthropic, which also happened to receive over $500 million in funds from former FTX CEO Sam Bankman-Fried about six months before FTX catastrophically collapsed. While the $300 million figure was reported by Financial Times on Feb. 4, Anthropic confirmed the investment partnership with Google

The Bank of England (BoE) and Treasury believes the United Kingdom is likely to need to create a central bank digital currency (CBDC) by 2030, according to a Telegraph report on Feb. 4.  The “digital pound” roadmap is set to be introduced next week, a government source told the newspaper. Deputy Governor Jon Cunliffe is

The Federal Bureau of Investigation (FBI) has seized 86.5 Ether (ETH) an two nonfungible tokens (NFTs) worth more than $100,000 from a reported phishing scammer. The alleged scammer in question, Chase Senecal — known as Horror (HZ) online — was initially exposed via a lengthy investigation by independent blockchain sleuth ZachXBT posted back in September 2022.

India’s Finance Minister, Nirmala Sitharaman, suggested that regulation “cannot be done” by a single country, it requires an international effort, in a recent television interview. Speaking to Rahul Joshi on CNBC-TV18 in India on Feb. 3, Sitharaman noted that while the central bank is the “authority for issuing cryptocurrency,” the rest of the digital assets

The tZERO Crypto exchange, whose majority owner is Overstock, will shut down on March 6, the company announced via Twitter on Feb. 3. The company says that it will continue to focus on its regulated securities products after the shutdown, as the United States Securities and Exchange Commission (SEC) and other regulators clarify the legal

An economic bubble is a time of fast economic expansion that is driven by speculative enthusiasm and excessively high asset prices. A bubble is characterized by an increase in demand for an asset, such as commodities, stocks or real estate, which drives up its price. A number of factors, including easy access to credit, low

The Australian government is bolstering its market regulator’s digital asset team as part of a “multi-stage approach” aimed at clamping down on crypto and ensuring proper risk disclosures from crypto firms. A Feb. 2 joint statement by Australian Treasurer Jim Chalmers and Assistant Treasurer Stephen Jones explained that the new measures are aimed at protecting consumers

Our weekly roundup of news from East Asia curates the industry’s most important developments. Huawei moves to trademark its NFTs According to a Jan. 28 report by Sina News, Chinese telecom giant Huawei has recently filed for eight trademarks related to its Huawei “YunYunBao” nonfungible tokens (NFT) series. The trademarks include digital collectibles in the

Crypto tax planning can help optimize taxes by identifying opportunities to minimize tax liability on cryptocurrency transactions. For instance, donating cryptocurrency to a charitable organization can provide a tax deduction and also avoid capital gains tax on the donated assets. Crypto tax-loss harvesting is another strategy that cryptocurrency investors use to reduce their overall tax

A Voyager creditor and finance lawyer wants to see a chapter 11 trustee appointed in crypto brokerage Voyager Digital’s bankruptcy trial, which would see Voyager lose control of its estate. In a Feb. 1 motion, Voyager creditor Michelle DiVita accused Voyager of having a “history of financial statement inaccuracies and public misrepresentations that were known,

A proposed class action suit against cryptocurrency exchange Coinbase, Coinbase Global and CEO Brian Armstrong alleging unregistered securities sales was dismissed in the United States District Court of Southern New York on Feb. 1. The suit, filed on March 11, claimed that 79 of the tokens listed on Coinbase were securities being sold without proper

As bankruptcy proceedings continue, FTX and affected parties have requested subpoenas for information and documents from close relatives of former CEO Sam Bankman-Fried. A motion filed in the United States Bankruptcy Court for the District of Delaware seeks to glean valuable information from the likes of Gabriel Bankman-Fried and Barbara Fried, the brother and mother of

The holding company for the crypto-friendly bank, BankProv, has revealed it’s no longer providing loans secured by cryptocurrency mining rigs after writing off $47.9 million in loans primarily secured by them throughout 2022. According to a Jan. 31 filing with the United States Securities and Exchange Commission (SEC), BankProv has already nearly halved the proportion