The US Securities and Exchange Commission (SEC) recently filed a document expressing its concerns regarding the proposed repayment plan in the ongoing FTX bankruptcy case. The plan, which involves repaying creditors using stablecoins or other digital assets, has raised red flags for the SEC. By reserving the right to challenge these transactions under federal securities
Regulation
The Qatar Financial Centre (QFC) in Doha has recently announced the launch of the QFC Digital Assets Framework 2024. This initiative invites both local and international companies to apply for licenses to operate as token service providers under the new regulatory framework. The framework covers various aspects of digital assets, such as tokenization, legal recognition
The US Securities and Exchange Commission (SEC) has raised concerns regarding the accessibility of fund portfolio data for retail investors. The current regulatory framework mandates that investment companies provide periodic portfolio holdings data to the Commission and investors. However, this data is often delayed, leaving investors with outdated information during critical decision-making moments such as
The Nigerian Securities and Exchange Commission (SEC) recently made a significant announcement, granting Approval-in-Principle to two local crypto exchanges, Busha Digital Limited and Quidax. This approval falls under the Accelerated Regulatory Incubation Program (ARIP), which aims to onboard operational firms before the release of the Rules on Virtual Asset Service Providers in May 2022. The
Recent data reported by the Financial Times through law firm Reed Smith indicates a significant decline in registrations for crypto asset exchanges and custodian wallet providers with the UK’s Financial Conduct Authority (FCA). The numbers show that in the past three years, registrations have dropped by more than 50%, pointing to a growing frustration within
OpenSea CEO, Devin Finzer, recently made headlines by announcing that the firm received a Wells Notice from the US Securities and Exchange Commission (SEC). The SEC considers the NFTs on OpenSea’s platform as securities, which has sparked controversy within the digital art community. Finzer expressed surprise at the SEC’s sweeping move against creators and artists,
After being released from prison, Telegram CEO Pavel Durov is now under judicial supervision in France. He is required to deposit a €5 million bond and is prohibited from leaving French territory. Durov must also report to the police station twice a week in compliance with his bond conditions. The charges against him include “complicity
In a move to revolutionize the financial landscape, the Hong Kong Monetary Authority (HKMA) has launched the Project Ensemble Sandbox. This initiative aims to explore the potential of tokenization across various asset classes and real-world financial applications. The sandbox will serve as a testing ground for innovative solutions that could redefine digital finance. The Project
The SEC recently filed settled charges against Abra for failing to register its crypto asset lending product, Abra Earn. The allegations include selling nearly half a billion dollars of securities to US investors without complying with registration laws, thereby depriving investors of essential information needed to make informed decisions. Furthermore, the SEC also charged Plutus
France, known for being a hub for some of the world’s largest crypto businesses, has recently faced challenges that may jeopardize its position in the industry. Despite having favorable tax rates and a pool of talented individuals, the aftermath of the French elections and increasing competition within Europe has cast doubt on the country’s future