BaFin suggests case-by-case classification of NFTs
BaFin, the German Federal Financial Supervisory Authority, has not yet deemed nonfungible tokens (NFTs) securities. given the difficulties with classification, the Agency advises classifying the NFTs case-by-case. NFTs and their legal classification were discussed in an explanation note published in the BaFin journal on March 8. Regulators do not now perceive how NFTs fit the […]
Judge denies request to consolidate class-action lawsuits against FTX
Investors’ proposed class-action lawsuits against the FTX exchange were not consolidated by a U.S. judge, according to the judge the defendants had not had the opportunity to respond. On March 8, United States District Judge Jacqueline Scott Corley issued the ruling that rejected plaintiffs’ requests to combine a total of five proposed class action lawsuits […]
BitMEX co-founder proposes Bitcoin-based stablecoin
The crypto community members are coming up with new suggestions for stablecoins following regulatory scrutiny. Arthur Hayes BitMEX co-founder has proposed a stablecoin that aims to be entirely free from any movements of USD. A new stablecoin with a value indexed to $1 worth of Bitcoin and one inverse perpetual swap of BTC against USD […]
India enforces anti-money laundering laws on crypto transactions
The government of India has taken yet another step toward regulating digital assets by imposing money laundering rules on the crypto industry. While needing Anti-Money Laundering (AML) requirements for cryptocurrency is nothing new, it is only now that the Indian government has chosen to inform all interested parties of the requirement to abide by the […]