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
Regulation
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
The implementation of the Markets in Crypto-Assets Regulation (MiCA) marks a significant development in the landscape of digital asset regulation within the European Union (EU). This regulatory framework aims to establish a comprehensive policy environment that addresses the full spectrum of crypto assets, enhancing legal certainty and promoting financial stability. By instituting a uniform regulatory
As the digital landscape expands, the United Kingdom is encountering significant hurdles in the realm of regulating cryptocurrency advertising. Recently, the Financial Conduct Authority (FCA) has come under scrutiny for its ineffective enforcement of regulations designed to protect investors. The transition from traditional finance to the unabashedly innovative world of cryptocurrencies has raised alarms about
In a notable development within the cryptocurrency landscape, MoonPay, a prominent crypto payment solutions provider, has garnered official approval under the EU’s Markets in Crypto-Assets (MiCA) regulation as of December 30. This regulatory endorsement, granted by the Netherlands’ Authority for the Financial Markets (AFM), enables MoonPay to deliver its services broadly throughout the European Economic
The recent pushback from A16z Crypto, a prominent venture capital firm heavily invested in blockchain technology, underscores significant tensions between the digital asset ecosystem and regulatory bodies in the United States. Michele Korver, the head of regulation at A16z Crypto, articulated this opposition in a recent post, revealing support for a lawsuit brought forth by
In a decisive move to bolster the security and reliability of financial operations, Japan’s Financial Services Authority (FSA) is set to revamp the internal audit frameworks for financial institutions, particularly focusing on cryptocurrency exchanges. This initiative emerges as a response to recognized deficiencies in the sector, underscoring the FSA’s commitment to align domestic practices with
The recent issuance of finalized broker rules by the U.S. Department of the Treasury and the Internal Revenue Service (IRS) marks a significant development for digital asset service providers. These regulations demand that decentralized finance (DeFi) protocols implement Know-Your-Customer (KYC) protocols, a move that has elicited substantial criticism from industry experts. Critics allege that these
The Terra ecosystem was once hailed as a groundbreaking advancement in the realm of cryptocurrency, largely due to its stablecoin, Terra USD (UST). However, the spectacular failure of this digital asset not only resulted in catastrophic financial losses but has prompted significant regulatory scrutiny. Among the most notable developments in the wake of UST’s collapse
As we peer into the future of cryptocurrency and financial technologies in 2025, emerging trends promise transformative changes in how digital assets interact with our conventional financial systems. Coinbase’s insights point to key developments such as tokenization becoming widespread, the maturation of decentralized finance (DeFi), and a shift towards favorable regulations in the US. Each