Recent developments in South Korea indicate a notable relaxation of cryptocurrency trading regulations for institutional investors. The Financial Services Commission (FSC) is reportedly set to unveil phased modifications that will ease current restrictions, allowing institutional access to the burgeoning digital asset marketplace. This shift, reported by Yonhap on January 8, highlights a significant pivot in
Regulation
Rostin Behnam, the current Chair of the U.S. Commodity Futures Trading Commission (CFTC), has announced his resignation, effective January 20. This timing conveniently aligns with the inauguration of President-elect Donald Trump, signaling a strategic shift in the regulatory landscape surrounding cryptocurrency and finance. The transition brings forward an opportunity for the new administration to appoint
In a decisive move reflecting the ongoing tension between traditional financial systems and emerging digital currencies, Banco de Investimentos Globais (BiG), a prominent player in Portugal’s banking sector, has ceased fiat transfers to cryptocurrency exchanges. This development, brought to light by José Maria Macedo, co-founder of Delphi Labs, signals a response that aligns with recent
The landscape for hedge funds dealing in cryptocurrency has become increasingly tumultuous, particularly regarding their access to essential banking services. A recent report by The Wall Street Journal reveals that approximately 120 out of 160 hedge funds, a staggering 75%, have faced significant challenges in obtaining banking support over the past three years. This statistic
As the global cryptocurrency market matures, stablecoins have emerged as a pivotal element, bridging traditional finance and the digital currency world. However, with the European Union’s introduction of the Markets in Crypto-Assets Regulation (MiCA), the landscape for stablecoin issuers has seen a marked transformation. Tether, the operator behind the widely-used USDT token, has recently indicated
The European Union’s impending regulatory framework, known as the Markets in Cryptoassets (MiCA), is stirring significant unease within the cryptocurrency landscape. Set to become fully operational by December 30, the regulations specifically target stablecoins, including Tether’s USDT, the most widely utilized cryptocurrency for trading across exchanges. The requirement for stablecoin issuers to obtain e-money licenses
In a significant move within the cryptocurrency landscape, Tether, the issuer of the USDT stablecoin, has recently augmented its Bitcoin holdings by an impressive 7,629 BTC. This purchase, valued at approximately $705 million according to data from Arkham Intelligence, demonstrates Tether’s commitment to cryptocurrency as part of its asset diversification strategy. Following this acquisition, Tether’s
In a landscape that is evolving at an unprecedented pace, Morgan Stanley’s subsidiary, E-Trade, is poised to step into the realm of cryptocurrency trading. Reports indicate that this shift comes in anticipation of a regulatory environment that favors innovation and growth, particularly under an incoming administration. As traditional finance institutions eye the vast potential of
Recent actions by the Chinese government signal a significant shift in how foreign exchange activities, particularly those involving cryptocurrencies, are regulated. As reported by the South China Morning Post, the State Administration of Foreign Exchange (SAFE) has implemented new rules aimed at identifying and managing risky foreign currency transactions. This includes a heightened focus on
In a significant development for digital asset investors, the Internal Revenue Service (IRS) has recently provided temporary relief regarding the regulations on crypto cost-basis reporting. This decision is critical given the intricacies and rapid evolution of cryptocurrency taxation. By delaying the implementation of a rule that mandates brokers and centralized exchanges to default to the