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Hong Kong Considers Strengthening Crypto Regulatory Oversight Following Hounax and JPEX Fallout

Recent scams in the Hong Kong crypto scene has prompted calls for tighter regulation and increased regulatory powers to tackle crypto fraud. Hong Kong is contemplating tightening regulatory measures to tackle crypto scams, as Chief Executive John Lee Ka-chiu announced a review of legislation following an alleged fraud of HK$148 million ($19

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GAO finds controversial SEC guidance is subject to congressional oversight

United States Senator Cynthia Lummis has scored another one for crypto with a Government Accountability Office (GAO) decision issued on Oct. 31. The GAO found that Securities and Exchange Commission (SEC) Staff Accounting Bulletin 121 should be subject to congressional review. That bulletin, issued in March 2022, has been a

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Stablecoin market escaping US regulatory oversight: Chainalysis

The United States government may be losing regulatory oversight of the stablecoin market, according to a new report by blockchain research firm Chainalysis.Stablecoin activity has been increasingly occurring through entities that aren’t licensed in the United States, Chainalysis stated in its latest North America cryptocurrency report released on Oct. 23.According

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Taiwanese Regulator Issues Guidance for Crypto Firms as it Steps Up Oversight

Under the new guidance, crypto issuers would have to publish a white paper, and exchange platforms must set up a review mechanism for listing and delisting virtual assets. Among other requirements, the regulator said firms should also custody platform assets and customer assets separately. Overseas firms will have to register

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Congressman Tom Emmer seeks amendment to limit SEC’s crypto oversight

Tom Emmer, the Majority Whip of the U.S. House of Representatives, who has previously expressed concerns about the Securities Exchange Commission's (SEC) actions in the cryptocurrency industry, on Friday, Sep. 8, introduced a significant amendment that once more drew attention to the SEC's actions.In his statement, Tom Emmer criticizes Gary

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US Fed steps up oversight of banks’ involvement with crypto firms

The United States Federal Reserve is broadening the scope of its supervision program which oversees U.S. banks that engage with the cryptocurrency and blockchain industry. An Aug. 8 announcement by the Federal Reserve Board established the Novel Activities Supervision Program which aims to limit certain crypto-related activities and facilitate a

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Coinbase Moves to Dismiss SEC Lawsuit, Alleging Crypto Falls Out of Regulator’s Oversight

"The transactions over Coinbase’s platform and Prime are not, and do not involve, contractual undertakings to deliver future value reflecting the income, profits, or assets of a business. They are commodity sales, with the obligations on both sides discharged entirely the moment the digital token is delivered in exchange for

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Federal Regulators Are Needed for Crypto Oversight: U.S. GAO

Major U.S. financial regulators - the Consumer Financial Protection Bureau (CFPB), the Commodity Futures Trading Commission (CFTC), the Federal Deposit Insurance Corporation (FDIC), the Federal Reserve System, the National Credit Union Administration (NCUA), the Office of the Comptroller of the Currency (OCC), and the Securities and Exchange Commission (SEC) -

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U.S. House Republicans Introduce Crypto Oversight Bill to Protect Investors

“Today's introduction of the Financial Innovation and Technology for the 21st Century Act marks a significant milestone in the House Committees on Agriculture and Financial Services efforts to establish a much-needed regulatory framework that protects consumers and investors and fosters American leadership in the digital asset space,” said Chairman of

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