Texas Legislature Approves New Bitcoin Mining Regulations
The Texas Legislature’s 88th session approved several bills impacting the state’s bitcoin mining sector. These measures aim to make Texas more attractive to cryptocurrency mining businesses. Lee Bratcher, the president of the Texas Blockchain Council, believes that Texas will become a central hub for digital assets, similar to how Silicon Valley grew as a hub […]
Binance’s Gopax Acquisition Delayed by SEC Lawsuit
Binance’s plan to buy a South Korean crypto exchange Gopax faces regulatory hurdles due to the SEC lawsuit against the global crypto giant. In February 2021, Binance announced that it had acquired a majority stake in Gopax and that it was spending funds from its industry recovery initiative on the acquisition. Binance and its partners […]
FATF Criticizes Qatar for Not Regulating Crypto Companies
The Financial Action Task Force (FATF) has slammed the Qatar Central Bank (QCB) for failing to implement its regulations prohibiting virtual asset service providers in the country. In a report published on 31 May, the global money-laundering and terrorism financing watchdog highlighted Qatar’s need to enhance its capacity to combat evolving forms of criminality, including […]
UAE Central Bank Tightens AML Rules for Virtual Assets
The UAE Central Bank has issued new anti-money laundering and counter-terrorism financing guidelines for financial institutions that deal with virtual assets, such as cryptocurrencies and non-fungible tokens (NFTs). The new guidance aims to enhance the regulatory framework and combat money laundering and terrorist financing in the rapidly growing sector. Strengthening the Regulatory Framework The new […]
CFTC Warns Crypto Clearinghouses, Urges Rulemaking
The U.S. Commodity Futures Trading Commission (CFTC) has issued a staff advisory to derivatives clearing organizations (DCOs) regarding the potential risks associated with digital assets. The move highlights an increased focus on the emerging crypto market and calls for proactive risk management. The advisory was prompted by DCOs’ growing interest in providing clearing services for […]