Cryptocurrency Laws

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  Bitget Joins India's ‘Sahyog’ Cyber Crime Portal to Aid Investigations 

  Bitget has announced a partnership with India's cyber-crime focussed Sahyog Portal to help in related investigations. As part of its contribution to Sahyog, Bitget said it will help the law investigating officers access technical tools that are required for digital evidence collection. 

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  US Senators Seek Details on Meta's Stablecoin Plans as GENIUS Act Stands Close to Approval

  US senators Elizabeth Warren and Richard Blumenthal have asked Meta CEO Mark Zuckerberg to clarify whether the company intends to launch its stablecoin. The letter to Meta, dated June 11, follows a recent Fortune report that claimed the company is exploring stablecoins to facilitate cost-effective cross-border payouts.

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  Singapore Directs Crypto Firms to Halt Overseas Operations in Crackdown on Unlicensed Providers

  The Monetary Authority of Singapore (MAS), recently outlined certain requirements to be fulfilled by the "Digital Token Service Providers (DTSPs) in Singapore, in order to establish more control over crypto-related services. The MAS has also decided to limit licensing for DTSPs.

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  UK Government Updates Crypto Reporting Guidelines, Mandates Collection of Crypto Transaction Data

  The UK government has instructed crypto firms to collect user details including transaction data under the Crypto Asset Reporting Framework (CARF). The UK officials have said that crypto companies found in violation of these laws can invite penalties of up to GBP 300 (roughly Rs. 35,000).

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  Malaysia Logs 300 Percent Rise in Electricity Theft Linked to Illegal Crypto Mining: Report

  Illegal crypto mining operations in Malaysia rose to 2,397 in 2024 from the 610 cases reported in 2018. Law enforcement authorities there have reportedly initiated efforts to identify and bust locations they suspect are origins of unauthorised mining operations.

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  New US SEC Chair Says Crypto Sector Deserves Clear Regulations

  US SEC Chair, Paul Atkins has said that the crypto sector deserves clear regulatory rules. He spoked at the SEC's crypto roundtable, which the Republican leadership launched to weigh how securities laws may apply to digital assets.

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  Binance Set to Re-Verify KYC Details of India Users 

  Binance’s India users have been directed to re-verify their Know-Your-Customer (KYC) details. This instruction will apply to both the new as well as the existing users of the exchange. The platform will be obtaining the PAN details of its users in India as part of this KYC refreshing process.

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  Google to Enforce MiCA Compliance for Crypto Ads in the EU With Stricter Policy

  Google is set to update its crypto-related advertisement policies to align with the MiCA regulations in the EU. It said only MiCA-registered crypto exchanges and wallets will be allowed to advertise their services and offerings through the search engine giant starting April 23.

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  Ripple CEO Announces End of Four-Year SEC Battle as XRP Surges: Key Details

  Ripple CEO Brad Garlinghouse announced that the SEC is dropping its case after four years, crediting the US's new pro-crypto administration for its innovative approach.

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  US SEC’s Crypto Task Force to Host Roundtables to Discuss Crypto Regulation

  The US Securities and Exchange Commission’s (SEC) Crypto Task Force said Monday it would host a series of roundtable meetings to gather public insights on its regulatory approach towards Web3. Mark T. Uyeda, the acting chairperson of the SEC, will oversee the roundtable discussions that will start this month. 

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  OKX Admits to Unlicensed Operations, Agrees to $505 Million Settlement with US DoJ

  The OKX crypto exchange has pleaded guilty to operating an unlicensed money transmission business in the US. As part of the settlement, its parent company, Aux Cayes FinTech, paid an $84 million (roughly Rs. 731 crore) penalty and forfeited $421 million (roughly Rs. 3,667 crore) in fees, primarily collected from a few institutional clients.

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  ESMA Proposes Staff Assessment Guidelines for Crypto Firms Under MiCA Regulations

  The EU's ESMA has released a proposal of suggested guidelines to help crypto firms assess the competence requirements for their staff members. By introducing this step, the regulatory agency said, it wants to ensure that only people with the right risk-and-benefit knowledge on crypto get to engage with investors and help them make informed decision...

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  ByBit Pays Rs. 9.27 Crore Penalty, Completes FIU-IND Registration

  ByBit has announced that it has completed its registration with India’s Financial Intelligence Unit (FIU), and paid a Rs. 9.27 crore penalty, as part of its compliance obligations. Earlier this month, the FIU-IND revealed that the Dubai-based exchange was not in compliance with India’s the Prevention of Money Laundering Act (PMLA) because of wh...

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  BlackRock Said to be Preparing to Launch Bitcoin Exchange-Traded Product in Europe

  BlackRock is gearing up to launch a bitcoin exchange-traded product in Europe. The product will likely be domiciled in Switzerland, a source told Reuters. As of now, the asset management firm has neither confirmed nor denied the reports.

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  Bitpanda, OKX, Crypto.com Acquire Licences in EU as MiCA Laws Attracts Web3 to Region 

  Crypto exchanges OKX and BitPanda have secured licences in the EU region, making their operations legally compliant in 30 countries that comprises the European Economic Area (EEA). While OKX has received its licence in Malta, Bitpanda bagged its MiCA licence in Germany.