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Justin Sun may finally be able to journey into space four years after he paid $28 million for a ticket, after the Securities and Exchange Commission (SEC) paused its lawsuit against him. Sun has avoided the US for years after the SEC accused him of washtrading and selling unregistered securities in 2023. The fear of arrest reportedly spooked him from returning to the country, even causing him to miss Donald Trump’s inauguration.   Fortunately for Sun, however, his SEC case has been “stayed” after he made numerous multi-million dollar investments into Trump’s crypto ventures.  This means that, as things stand, the controversial crypto billionaire is off to space later this year as part of Jeff Bezos’ ozone-depleting spaceflight program, Blue Origin. He teased the flight in an X post made in May, writing, “Hello @BlueOrigin Big things coming? I’m excited!” Meet the New Shepard NS-34 crew: Arvi Bahal, Gökhan Erdem, Deborah Martorell, Lionel Pitchford, J.D. Russe...

Decentralized Finance (DeFi) surged as an open, permissionless alternative to traditional finance, challenging the SEC—a long-standing U.S. financial regulator. At its heart, the clash is philosophical: centralized regulation versus decentralized autonomy through smart contracts and DAOs. The SEC’s Position: “Investor Protection Above All” The SEC has one job: protect investors, maintain fair markets, and enforce securities laws. Traditionally, this meant regulating companies that issue stocks, bonds, and other financial instruments. But in the past decade, as crypto went from niche to mainstream, the SEC expanded its scope. Under Chair Gary Gensler, the SEC has taken a firm stance that many digital assets—especially those involved in staking, yield farming, or offering returns—are unregistered securities . The reasoning? If investors are led to expect profits from the efforts of others, it likely falls under the Howey Test, the decades-old benchmark for identifying securities. So wha...

With a flurry of pro-crypto policies expected under the new administration, the US President-elect has wasted no time making good on his promise to completely overhaul the industry’s regulation in the country. Now, he may be looking to take things a step further. Indeed, Donald Trump is reportedly open to creating an America-first strategic reserve for cryptocurrencies like Solana (SOL) and XRP, according to a report from the New York Post. The incoming inauguration of President Trump is set to end what was four years of challenges for the cryptocurrency market. Under the Biden Administration, the US Securities and Exchange Commission (SEC) had regulated through enforcement. Now, the market is anxiously awaiting the monumental shift Trump should bring about. JUST IN: President-elect Donald Trump is open to creating an America-first strategic reserve that prioritizes cryptocurrencies such as Solana $SOL and $XRP. — Watcher.Guru (@WatcherGuru) January 16, 2025 Also Read: Donald Tru...

Kraken, a centralized cryptocurrency exchange platform that allows users to buy, sell, and trade crypto, has announced plans to close its non-fungible token marketplace. This harsh decision is part of a broader strategic measure aimed at redirecting resources toward new and more promising initiatives within its ecosystem. In this article, we shall assess the fate of NFT holders after closure. Kraken Is Shuttering Its NFT Marketplace In an email announcement sent to customers on November 26, Kraken confirmed plans to shut down its non-fungible token market platform. Starting Today, November 27, the NFT marketplace will enter withdrawal-only mode, initiating a three-month period to allow users to transfer their NFTs to external wallets before the definitive deactivation. Kraken’s NFT market platform will completely close in February 2025. BREAKING: Kraken to shutter its NFT marketplace pic.twitter.com/5Wa4ZpTOxz — Bryptos (@Bryptos_) November 26, 2024 Kraken, a centrali...

The European Union (EU) has set a precedent by introducing the AI Act – which focuses on the high-risk areas of AI tech usage. The legislation hailed by EU Commissioner Thierry Breton as “historic” will introduce a risk-based approach to AI oversight. The act adopts a risk-based approach, focusing on high-risk areas like government use of AI for biometric surveillance. It also throws a regulatory net over systems akin to ChatGPT, demanding transparency before unleashing it on the market. The landmark vote follows a December 2023 political agreement and finalizes months of meticulous text tailoring for legislative approval. The agreement signals the end of negotiations, with the vote by the permanent representatives of all EU member states held on Feb. 2. This crucial step sets the stage for the act to progress through the legislative process, involving a vote by a pivotal EU lawmaker committee scheduled for Feb. 13, followed by an expected vote in the European Parliamen...

In its 12th sanctions package against Russia, the EU is doubling down on crypto limitations for Russians. According to a Q&A on Dec. 18, the European Commission has imposed a new ban on Russian nationals and residents on Russian nationals and residents, preventing them from owning or controlling crypto service providers in response to Russia‘s military offensive against Ukraine, the announcement says. “EU sanctions fulfil the EU’s key objective, which is to continue to work for a just and lasting peace, not another frozen conflict.” The European Commission This regulatory move aims to tighten restrictions on the provision of crypto-asset wallet, account, or custody services to individuals in Russia. The comprehensive package also includes measures to curb circumvention, explicitly forbidding Russian nationals and residents from holding any positions on the governing bodies of entities offering such services. You might also like: Blockchain․co...

Even if approved by Nov. 17, the spot Bitcoin ETFs are unlikely to come to market for at least a month after approval. The United States Securities and Exchange Commission (SEC) could approve all 12 pending spot Bitcoin exchange-traded fund (ETF) applications by Nov. 17. Beginning on Nov. 9, the SEC reportedly has a “window” to approve all 12 spot Bitcoin ETF filings, including Grayscale Investments conversion of its Grayscale Bitcoin Trust product. However, even if the SEC approve s spot Bitcoin (BTC) ETFs by Nov. 17, it could be more than a month before the products launch. The expected delay in launch following SEC approval would be due to the two-step process of launching an ETF. For an issuer to start a Bitcoin ETF, it must get approval from the SEC’s Trading and Markets division on its 19b-4 filing and its Corporate Finance division on the S-1 filing or prospectus. Of the 12 Bitcoin ETF applications, nine issuers have submitted revised prospectuses showing they have communicat...

The crypto exchange has applied for a license under the EU’s new Markets in Crypto-Assets with the Central Bank of Ireland and, if successful, will be able to "passport" its services across EU states. The United States-based crypto currency exchange Coinbase is strengthening its presence in Europe and has officially announced Ireland as its chosen main European crypto hub. Coinbase has select ed Ireland as its EU entity location of compliance with Europe’s major crypto currency regulatory framework known as Markets in Crypto-Assets Regulation (MiCA), the firm announced to Cointelegraph on Oct. 19. With MiCA, which is expected to be enforced in late 2024, Coinbase can serve one of the largest economies in the world 450 million people, across 27 countries, under one regulatory framework and with one national supervisor, the firm said in the announcement. Currently, Coinbase holds an e-money institution license and virtual asset service provider (VASP) registration in Ireland,...

The Basel Committee on Banking Supervision has proposed standardized disclosure templates for major banking institutions regarding their crypto asset exposure, aiming for implementation by 2025. The Basel Committee on Banking Supervision (BCBS), an assembly of international banking regulators, unveiled draft guidelines on October 18 for the merge of traditional finance and digital assets. The proposal suggests that major banking institutions should disclose their exposure to crypto assets by 2025. The BCBS believes that standardized disclosure templates will promote consistent information sharing across banks. This consistency will not only benefit the banks but will also provide market participants with a clearer view of financial institutions’ engagements in the crypto sector. A new Basel Committee consultative document proposes a standardised disclosure table and set of templates for banks’ cryptoasset exposures: comments welcome by 31 January 2024 https://t.co/SzMwXNxu...

SBF's counsel had argued that FTX was not located in the United States, and as SBF did follow regulatory obligations concerning FTX.US, charges related to FTX international shouldn’t apply. The United States Department of Justice filed a court motion on Oct. 4 claiming the lack of crypto regulations in the U.S. is no bar to the criminal charges filed against the former CEO Sam Bankman-Fried of now-bankrupt crypto exchange FTX. The U.S. DOJ’s letter was filed in response to the defendant's request for clarification and reconsideration of charges related to the misappropriation of funds in FTX. SBF’s counsel had argued that their client was “not guilty because FTX was not regulated in the United States and he followed the rules concerning FTX US.” The DOJ called this argument irrelevant claiming that even though the existence of legislation may be necessary to prove a legal obligation, however, the lack of it does not affect whether the defendant's victims committed mon...

The New York financial regulator wants trading firms to clarify how exactly they decide to list or delist a crypto currency. The New York State Department of Financial Services (NYDFS) is set to introduce new guidance about crypto listing process for crypto companies in an effort to make it clear how the industry should self-regulate. A spokesperson for the NYDFS told The Wall Street Journal that the guidance was needed to protect customers even when exchanges have to delist a coin. “When we know that a coin that someone once thought was OK, when we see that new risks have emerged or the coin is being misused, we want our entities to have a way to delist the coin in a way that’s still protective of consumers and protects safety and soundness as well.” Adrienne Harris, NYDFS Superintendent The financial watchdog is particularly asking crypto companies to develop new policies for listing and delisting processes. The firms should focus their policies on three areas: go...

The Saudi Central Bank warned in 2019 that Bitcoin is “not recognized by legal entities” but hasn’t made many statements on crypto since. Hong Kong is expanding its financial collaboration with the Kingdom of Saudi Arabia, targeting agreements related to tokenization and payment s infrastructure. The Saudi Central Bank (SAMA) and the Hong Kong Monetary Authority (HKMA) on July 26 held a bilateral meeting to strengthen the integration of financial services between the two countries. As part of the meeting agenda, the HKMA and the SAMA discussed initiatives such as financial infrastructure development, open market operations, market connectivity and sustainable development. The central banks also signed a memorandum of understanding (MoU) to promote joint discussions on financial innovation. HJMA chief executive Eddie Yue (left) and SAMA governor Ayman Alsayari (right). Source: HKMA According to an official joint announcement, Hong Kong and Saudi Arabia’s authorities also took the oppor...

Wallet, a custodial wallet bot on Telegram, says that merchants should sort out for themselves whether their jurisdictions allow them to accept payments in crypto. The cryptocurrency payment industry continues to evolve with a new cryptocurrency payment option coming to crypto-friendly Telegram messenger. Wallet, a Telegram bot allowing users to buy and sell cryptocurrencies like Bitcoin (BTC), has launched a crypto payment solution based on The Open Network (TON) blockchain. Called Wallet Pay, the new service provides crypto payment transactions between users and retail businesses, enabling direct payments within the Telegram interface. Announcing the news on July 13, Wallet told Cointelegraph that the new payment feature is immediately available within all jurisdictions supported by the wallet service. At the moment, this list of supported jurisdictions supported by Wallet Pay includes most countries except for the United States and those blacklisted by the Financial Action Task...

Banking executives in Australia have said that 40% of all scam profits “touch” crypto , meaning bank restrictions are “the single largest lever [banks] have to reduce this impact on our customers.” On June 8, Australia’s Commonwealth Bank (CBA) said it will start to decline or pause certain payments being made to crypto exchanges “to help protect customers from scam risks associated with making certain payments to cryptocurrency exchanges.”  Another bank in Australia, Westpac, is also trialing cryptocurrency restrictions and recently banned customers from transferring money to Binance in a bid to curtail scams. At Australian Blockchain Week on Monday, an executive from CBA shared why these payment restrictions were made. “One in three of the dollars that are scammed from Australians touch crypto, one in three,” said Sophie Gilder, CBA’s managing director of blockchain and digital assets.  This figure could be higher at 40% according to a portfolio manager at ANZ (an...

Major crypto exchange Binance continues to expand its services globally with the latest launch of a new digital asset platform in Kazakhstan.  New crypto exchange for Kazakhstan users Binance announced the launch of the local crypto exchange in a press event that had in attendance Kazakhstan government officials, Binance Kazakhstan’s leadership, and representatives from the country’s banking industry  The digital assets platform will offer Kazakhstan users services such as deposit and withdrawal of fiat, crypto custody, exchange and conversion. Bank Freedom Finance Kazakhstan JSC will offer banking services, allowing users in the country to transfer fiat to their Binance accounts. At the moment, there are two channels available for investors to carry out deposits and withdrawals via the bank, which are bank transfers and bank cards.  You might also like: Binance calls ‘Binance Nigeria Limited’ a scam In a statement, the General Manager of Binanc...

The platform was charging investors ‘exorbitant and undisclosed fees’ with one user being charged recurring fees of $51,000 over a span of 13 months, according to the statement. Cryptocurrency trading platform Coin Cafe has been ordered to repay $4.3 million to its users after allegedly charging “exorbitant and undisclosed fees" for storing Bitcoin on the platform — leading to some accounts being drained entirely of its funds. Based in Brooklyn, Coin Cafe initially filed an application for a virtual currency license with the New York State Department of Financial Services in July 2015, however, was only approved in January this year. Despite the seven-and-a-half-year application process, it was allowed to operate throughout but was flagged as putting “investors at risk,” as it didn’t uphold its obligation to register with the Office of the Attorney General for New York – which all New York broker-dealers are required to do so. On May 18, it was revealed that the exchange had been...

The Tornado Cash developer was arrested in August 2022 by Dutch authorities as part of a criminal investigation against the crypto mixer service. Tornado Cash developer Alex Pertsev is set to be released from jail after spending nearly nine months in prison . Pertsev was arrested in August last year by Dutch authorities on suspicion of being involved in Money Laundering through the crypto mixing service Tornado Cash. Cointelegraph confirmed the news with the people familiar with the matter, and Pertsev is all set to be back home by April 26, which also happens to be his birthday. Pertsev was arrested shortly after the United States Treasury Department placed dozens of Tornado Cash addresses on the Office of Foreign Asset Control (OFAC) sanctions list on Aug. 8.  The suspended release would see Pertsev put under supervision with an ankle monitor, according to Pertsev's wife who talked to Cointelegraph and expressed her happiness on the verdict: "I believe that now we will be...

Shin currently faces multiple fraud charges, specifically concerning allegedly hiding risks associated with investing in the in-house tokens by Terraform Labs. A local court in South Korea denied the prosecutor’s request to issue an arrest warrant for Terraform Labs co-founder Shin Hyun-Seong, also known as Daniel Shin. This was the second attempt made by South Korean authorities to reign in Shin following the recent arrest of Do Kwon — Terra’s other co-founder. On March 23, Kwon was arrested at Podgorica airport in Montenegro while attempting to use fake documents to fly abroad. The Seoul Southern District Prosecutors Office took advantage of this situation and, on March 27, requested an arrest warrant for Shin, citing his involvement in cashing in illicit profits from Terra (LUNA) and TerraUSD (UST) sales. However, the Seoul Southern District Court denied the request while citing unconfirmed allegations and the unlikeliness of Shin being a flight risk or destroying evidence, acco...

The CEO of Independent Reserve says Hong Kong's "friendly" licensing regime makes it a worthy destination to set up shop, but there are other factors to consider. Australia-based crypto exchange Independent Reserve is looking at opportunities to set up shop in Hong Kong, as the city continues efforts to become a cryptocurrency hub.  Set to take effect in June, the Hong Kong Securities and Futures Commission (SFC) released a proposed licensing regime for cryptocurrency exchanges on Feb. 20 in line with its ambitions to become Asia’s next crypto hub. Independent Reserve co-founder and CEO, Adrian Przelozny told Cointelegraph the “friendly” licensing regime makes Hong Kong a worthy destination to set up a new base, something his firm is now strongly considering. “Right now it is looking very interesting [...] The recent announcement by the regulators in Hong Kong does make Hong Kong look like a friendly jurisdiction.” “We see Hong Kong as a good opportunity for Independent ...

Fanusie doesn’t believe the Chinese-led CBDC movement on the global stage will replace the U.S. dollar, but it may cause a series of geopolitical headaches. A cryptocurrency researcher and former CIA analyst believes the United States government’s relatively slow start on Central Bank Digital Currency (CBDC) development may result in it losing grip on controlling the global financial system. Yaya Fanusie, the policy head at the crypto advocacy group the Crypto Council for Innovation explained in a Feb. 28 Bloomberg interview that sanctioned states are looking to transact on financial infrastructure that isn’t controlled or heavily influenced by the U.S. in order to move funds more freely cross-borders. If the U.S. continues to sit on the “sidelines” and lag behind on CBDC adoption, Fanusie believes this may spell “trouble” and cause unforeseen “geopolitical implications” over time: Fanusie explained that state-issued CBDCs could be a part of this financial infrastructure that becomes...