Recent reports have indicated that Nigerian authorities are stepping up their efforts to crack down on cryptocurrency trading, specifically targeting peer-to-peer (P2P) platforms such as OKX, Binance, KuCoin, and Bybit. A circulating document shared on social media platform X highlighted the government’s plans to take action against these exchanges. While the Central Bank of Nigeria
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The Blockchain Association and the Crypto Freedom Alliance of Texas recently made headlines for taking legal action against the US Securities and Exchange Commission (SEC). This move was prompted by the SEC’s decision to redefine the parameters for what constitutes a “dealer” of securities. According to the groups, the SEC’s action was deemed as “arbitrary
The Philippines Securities and Exchange Commission (SEC) has taken steps to collaborate with tech giants Google and Apple in an effort to remove the Binance app from their respective app marketplaces for Filipino users. The SEC’s request, dated April 19, aimed to eliminate applications controlled by Binance.com from both the Google Play Store and the
The proposal put forth by the Hong Kong Securities and Futures Professionals Association (HKSFPA) to establish independent self-regulatory organizations (SRO) dedicated to overseeing the digital assets sector marks a significant step in response to the rapid growth and increasing complexity of the industry. The Need for Specialized Regulation The digital assets sector, encompassing cryptocurrencies, blockchain
The MiCA regulation is set to reshape the crypto industry as it approaches, calling for compliance from crypto companies for a smooth transition. This regulation, which represents a significant step by the European Union towards regulating the crypto-asset market, aims to provide clarity and security to the market. It addresses the needs of crypto-asset service
The US Securities and Exchange Commission (SEC) recently filed an amended complaint against Justin Sun and other defendants, arguing that Sun’s alleged visits to the US should give the SEC the necessary jurisdiction to pursue legal action. The regulator claimed that Sun had traveled extensively to the US between 2017 and 2019, spending over 380
The recent introduction of the Lummis-Gillibrand Payment Stablecoin Act by US Senators Cynthia Lummis and Kirsten Gillibrand has sparked controversy within the crypto industry. Former Blockchain Association member Jake Chervinsky criticized the bill, calling it “deeply flawed” and warning that it would only allow for centralized and custodial stablecoins. Chervinsky’s concerns stem from the fact
The provincial government of Buenos Aires has recently taken a strong stance against cryptocurrency platform Worldcoin, accusing it of violating consumer protection laws through its user agreement. The government asserts that Worldcoin’s agreement contains “abusive clauses” that give the company the power to interrupt services without providing any form of repair or reimbursement to its
Recent discussions between House leaders and Senate Majority Leader Chuck Schumer have indicated a potential advancement in stablecoin legislation during the upcoming sessions. House Financial Services Chair Patrick McHenry and ranking member Maxine Waters met with Schumer to discuss the need for regulatory clarity in the area of financial technology. The talks also included the
The debate on data ownership and transparency in the blockchain space is becoming increasingly complex. While transparency and immutability are key features of blockchain technology that challenge traditional power structures, individuals also crave ownership over their personal data. Striking a balance between these two conflicting desires is crucial for the future of blockchain technology. Is