After being released from prison, Telegram CEO Pavel Durov has been placed under judicial supervision with strict conditions. These conditions include a €5 million bond, a prohibition from leaving French territory, and the requirement to report to the police station twice a week. Durov has officially been charged with six offenses, including complicity in managing
Regulation
Congressman Wiley Nickel from North Carolina has taken a stand against the US Securities and Exchange Commission (SEC), accusing the agency of damaging trust in the regulatory system with its enforcement-first approach. Nickel has criticized the SEC’s “regulation by enforcement” strategy, labeling it as a misuse of power that could impede digital innovation in the
The US Securities and Exchange Commission (SEC) has brought to light the pressing issue of retail investors lacking timely access to fund portfolio data. Commissioner Jaime E. Lizárraga pointed out that the current regulatory framework requires registered investment companies to provide periodic portfolio holdings data to the Commission and investors. This data delay affects around
The UK is witnessing a dramatic decline in registration applications from crypto firms, with a more than 50% drop in the past three years. This trend has been attributed to burdensome and time-consuming regulatory processes imposed by the Financial Conduct Authority (FCA). Recent data reveals that the FCA received only 29 registration applications between May
The Nigerian Securities and Exchange Commission (SEC) has recently approved two local crypto exchanges, Busha Digital Limited and Quidax, under the Accelerated Regulatory Incubation Program (ARIP). This program was specifically designed to onboard firms before the forthcoming release of the Rules on Virtual Asset Service Providers in May 2022. By granting these approvals, the SEC
OpenSea, a popular NFT platform, recently received a Wells Notice from the SEC regarding the classification of NFTs as securities. This move by the regulatory body has sparked concerns within the NFT community, particularly among creators and artists who fear the implications of such actions on their livelihoods. CEO Devin Finzer expressed shock at the
France has been known as a hub for crypto businesses over the past decade, attracting giants like Binance and Crypto.com to set up their European headquarters in the country. This is largely due to favorable tax rates, a talented workforce, and clear regulations in the crypto sector. However, with the recent French elections and increasing
The recent charges filed by the US Securities and Exchange Commission (SEC) against crypto lending firm Abra highlight the company’s failure to register its crypto asset lending product, Abra Earn. This oversight led to Abra selling nearly half a billion dollars of securities to US investors without complying with registration laws. The lack of transparency
The European Union’s regulatory framework for artificial intelligence (AI) has been criticized by Meta CEO Mark Zuckerberg and Spotify CEO Daniel Ek for its fragmented nature. They argue that this fragmented structure is stifling innovation in the AI sector. The CEOs believe that the EU’s AI regulations are inconsistent and overlapping, making it difficult for
The DeFi Education Fund and the Blockchain Association have joined forces to submit an amicus brief in support of a legal challenge against the SEC’s Consolidated Audit Trail (CAT). The brief emphasized the significant privacy and security concerns posed by the CAT, especially for participants in the digital asset market. It argued that the CAT
