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South Korea’s Financial Services Commission (FSC) is seeking legal amendments that would make it mandatory for virtual asset service providers (VASPs) within the country to report the names of their customers.According to a press release from the financial watchdog on Wednesday, a proposed update to the Act on Reporting and
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The surge comes as America's largest library rolls out a crypto regulatory guide. Source
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It took two years of infrastructure building but on Sept. 16 the Wyoming Division of Banking finally landed a prominent pioneer.That’s when Kraken Financial became the first entity to receive a special purpose depository institution (SPDI) charter in the Cowboy State, giving the cryptocurrency industry insight into roughly how long
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China’s central bank has included the digital yuan in the latest version of a proposed banking law, giving more legal clarity to the regulation of its national virtual currency. The People’s Bank of China is soliciting public comments for the draft of Laws of People’s Republic of China on PBOC until
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Bernadette Giacomazzo Bernadette Giacomazzo is an editor, writer, and photographer whose work has appeared in Teen Vogue, People, Us Weekly, The Source, XXL, HipHopDX, The Los Angeles Times, The New York Post, BET.com, and more. She is also the author of The Uprising series and is the
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A U.S. judge ruled Wednesday that Kik violated securities law when it raised $100 million via a token sale in 2017. Judge Alvin Hellerstein, a U.S. district judge for the Southern District of New York, wrote that in his view, Kik’s “token distribution event” (TDE) satisfied the three prongs of
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The Information Commissioner’s Office (ICO) has fined Digital Growth Experts Limited (DGEL) £60,000 for sending thousands of nuisance marketing texts at the height
Read MoreRussia’s new cryptocurrency-related law, “On Digital Financial Assets,” or DFA, seems to have had little impact on the local cryptocurrency industry so far.In its current form, the DFA law essentially provides legal status to digital assets like Bitcoin (BTC), but prohibits their use for payments in Russia.As the DFA law
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Canadian law firm Miller Thomson has hired consultancy firm Kroll to perform blockchain analytics work in relation to the ongoing dissolution of QuadrigaCX, the exchange which failed last year after its CEO Gerald Cotten was reported to have died. The firm, which represents the now-former users of Quadriga pursuant to a
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In a court case hearing involving the use of Bitcoin for transferring funds for illicit activities of drug trafficking, the District Court of Colombia has considered Bitcoin and cryptocurrencies as “money”.On Friday, July 24, a Federal Court announced that the world’s largest cryptocurrency Bitcoin gets the status of “money” under
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