Cryptocurrency Service Providers
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Australian Lawmakers Advance New Bill to Regulate Crypto Platforms
An Australian Senate committee has recommended passing a new bill aimed at regulating cryptocurrency platforms under the country’s financial services framework. The proposed legislation would introduce licensing and compliance requirements for exchanges and custody providers handling digital assets. If approved by Parliament, the bill could bring...
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Sony Bank Plans US Dollar Stablecoin to Support Game, Anime Payments by 2026
Sony Bank is developing a US dollar-backed stablecoin aimed at simplifying payments across Sony’s entertainment ecosystem. The project is currently under regulatory review in the US and is being built with stablecoin provider Bastion. Sony has already begun experimenting with crypto payments, including enabling USDC purchases in Singapore, signal...
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Bybit Gains UAE’s Virtual Asset Licence; Becomes First Crypto Firm to Get Full SCA Approval
ByBit has become the first cryptocurrency exchange to secure a full Virtual Asset Platform Operator Licence from the UAE’s Securities and Commodities Authority. The approval follows its in-principle nod in February and allows ByBit to provide regulated trading, custody, and fiat conversion services across the UAE. The milestone comes months after...
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Dubai’s VARA Fines 19 Crypto Firms for Unlicensed Operations
Dubai’s Virtual Assets Regulatory Authority (VARA) has fined 19 digital asset firms for operating without licences and breaching marketing regulations. Fines ranged from AED 100,000 to AED 600,000, with cease-and-desist orders issued. The action comes amid broader VARA policy upgrades, including enhanced risk oversight, client verification, and c...
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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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Ripple Partners With Two Banks to Launch Cross-Border XRP Payments in the UAE
Ripple has partnered with the Zand Bank and Mamo in the UAE, to enable cross-border payment solutions as well as on and off-ramp services for banks, crypto firms, and fintechs from around the world. Ripple is the first authorised blockchain payments provider for the DIFC.
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US Bank Regulators Pull Back Guardrails on Bank Crypto Activities
US banking regulators have pulled back directives urging banks to show caution when dabbling in cryptocurrency. Under the prior guidance, regulators warned banks to be wary of volatility, legal uncertainty and liquidity risks when considering whether to provide crypto-related services or take on crypto companies as clients.
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Bharat Web3 Association Asks Firms to Set Up Complaint Management Systems to Protect Consumers
The BWA has instructed crypto firms to prioritise the resolution of consumer complaints through features like unique complaint IDs. The consumer protection guidelines further said crypto firms are responsible for providing easily understandable information on their service offerings to the users.
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EU’s ESMA Sets Deadline for Crypto Service Providers to Restrict Non MiCA-Compliant Stablecoins
The European Securities and Markets Authority (ESMA) of the EU has asked crypto-asset service providers (CASPs) to put such procedures in place that can assess the compliance of ARTs and electronic money tokens (EMTs) with MiCA. Those found to be non-compliant must be restricted from being circulated, the ESMA has said.
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Tether Set to Relocate Head Office to Crypto-Friendly El Salvador
Tether has decided to move its headquarters from the British Virgin Islands to El Salvador, The development comes after Tether recently acquired the licence of a virtual asset service provider (VASP) there.
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Explained: BWA’s ‘Cybersecurity and Fair-Trading Guidelines’ for VASPs in India
This week, the Bharat Web3 Association (BWA) introduced two comprehensive guidelines aimed at providing clear direction to industry participants on ensuring secure and equitable service delivery for customers. These guidelines primarily target Virtual Asset Service Providers (VASPs).
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Hong Kong-Based HashKey Obtains VASP Licence in Ireland to Comply With EU's AMLD5
The Central Bank of Ireland has granted the licence of a Virtual Asset Service Provider (VASP) to the HashKey exchange, giving it legal permissions to offer a variety of crypto-related services in the country.
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Chainalysis Acquires Web3 Security Firm Hexagate to Advance Strategic Growth Objectives
Blockchain data firm Chainalysis announced its acquisition of Hexagate this week. Hexagate specialises in providing comprehensive tools for Web3 security, including risk mitigation, forensic analysis, and compliance solutions. Its services support a range of prominent crypto firms, including Coinbase, Polygon, Uniswap, and Consensys, among others.
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Ernst & Young Introduces Metaverse, AI to Its Hiring Process With New eVe Platform
EY has launched a service called eVe that essentially offers a warm-up pre-interview preparation for candidates applying for a job at the company. People can ask eVe about EY’s compensation benefits, pension plans, and other related follow-up questions.
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EBA Establishes Stricter Oversight for Firms Handling Crypto-Assets and Payments: Details
The European Banking Authority (EBA) has directed payment service providers to screen all firms seeking to register their businesses in EU member states. Additionally, EU lawmakers have mandated that virtual digital asset service providers (VASPs) conduct comprehensive due diligence, including detailed risk assessments.
-
Australian Lawmakers Advance New Bill to Regulate Crypto Platforms
An Australian Senate committee has recommended passing a new bill aimed at regulating cryptocurrency platforms under the country’s financial services framework. The proposed legislation would introduce licensing and compliance requirements for exchanges and custody providers handling digital assets. If approved by Parliament, the bill could bring...
-
Sony Bank Plans US Dollar Stablecoin to Support Game, Anime Payments by 2026
Sony Bank is developing a US dollar-backed stablecoin aimed at simplifying payments across Sony’s entertainment ecosystem. The project is currently under regulatory review in the US and is being built with stablecoin provider Bastion. Sony has already begun experimenting with crypto payments, including enabling USDC purchases in Singapore, signal...
-
Bybit Gains UAE’s Virtual Asset Licence; Becomes First Crypto Firm to Get Full SCA Approval
ByBit has become the first cryptocurrency exchange to secure a full Virtual Asset Platform Operator Licence from the UAE’s Securities and Commodities Authority. The approval follows its in-principle nod in February and allows ByBit to provide regulated trading, custody, and fiat conversion services across the UAE. The milestone comes months after...
-
Dubai’s VARA Fines 19 Crypto Firms for Unlicensed Operations
Dubai’s Virtual Assets Regulatory Authority (VARA) has fined 19 digital asset firms for operating without licences and breaching marketing regulations. Fines ranged from AED 100,000 to AED 600,000, with cease-and-desist orders issued. The action comes amid broader VARA policy upgrades, including enhanced risk oversight, client verification, and c...
-
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.
-
Ripple Partners With Two Banks to Launch Cross-Border XRP Payments in the UAE
Ripple has partnered with the Zand Bank and Mamo in the UAE, to enable cross-border payment solutions as well as on and off-ramp services for banks, crypto firms, and fintechs from around the world. Ripple is the first authorised blockchain payments provider for the DIFC.
-
US Bank Regulators Pull Back Guardrails on Bank Crypto Activities
US banking regulators have pulled back directives urging banks to show caution when dabbling in cryptocurrency. Under the prior guidance, regulators warned banks to be wary of volatility, legal uncertainty and liquidity risks when considering whether to provide crypto-related services or take on crypto companies as clients.
-
Bharat Web3 Association Asks Firms to Set Up Complaint Management Systems to Protect Consumers
The BWA has instructed crypto firms to prioritise the resolution of consumer complaints through features like unique complaint IDs. The consumer protection guidelines further said crypto firms are responsible for providing easily understandable information on their service offerings to the users.
-
EU’s ESMA Sets Deadline for Crypto Service Providers to Restrict Non MiCA-Compliant Stablecoins
The European Securities and Markets Authority (ESMA) of the EU has asked crypto-asset service providers (CASPs) to put such procedures in place that can assess the compliance of ARTs and electronic money tokens (EMTs) with MiCA. Those found to be non-compliant must be restricted from being circulated, the ESMA has said.
-
Tether Set to Relocate Head Office to Crypto-Friendly El Salvador
Tether has decided to move its headquarters from the British Virgin Islands to El Salvador, The development comes after Tether recently acquired the licence of a virtual asset service provider (VASP) there.
-
Explained: BWA’s ‘Cybersecurity and Fair-Trading Guidelines’ for VASPs in India
This week, the Bharat Web3 Association (BWA) introduced two comprehensive guidelines aimed at providing clear direction to industry participants on ensuring secure and equitable service delivery for customers. These guidelines primarily target Virtual Asset Service Providers (VASPs).
-
Hong Kong-Based HashKey Obtains VASP Licence in Ireland to Comply With EU's AMLD5
The Central Bank of Ireland has granted the licence of a Virtual Asset Service Provider (VASP) to the HashKey exchange, giving it legal permissions to offer a variety of crypto-related services in the country.
-
Chainalysis Acquires Web3 Security Firm Hexagate to Advance Strategic Growth Objectives
Blockchain data firm Chainalysis announced its acquisition of Hexagate this week. Hexagate specialises in providing comprehensive tools for Web3 security, including risk mitigation, forensic analysis, and compliance solutions. Its services support a range of prominent crypto firms, including Coinbase, Polygon, Uniswap, and Consensys, among others.
-
Ernst & Young Introduces Metaverse, AI to Its Hiring Process With New eVe Platform
EY has launched a service called eVe that essentially offers a warm-up pre-interview preparation for candidates applying for a job at the company. People can ask eVe about EY’s compensation benefits, pension plans, and other related follow-up questions.
-
EBA Establishes Stricter Oversight for Firms Handling Crypto-Assets and Payments: Details
The European Banking Authority (EBA) has directed payment service providers to screen all firms seeking to register their businesses in EU member states. Additionally, EU lawmakers have mandated that virtual digital asset service providers (VASPs) conduct comprehensive due diligence, including detailed risk assessments.
