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Crypto Is Driven by Extraordinary Consumer and Investor Demand, Says Australian Regulator – Regulation Bitcoin News

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The chairman of Australia’s Securities and Investments Commission (ASIC) says crypto is “being driven by extraordinary consumer and investor demand,” noting that “The implications for consumers are potentially huge.” The securities regulator is currently working with lawmakers to develop rules for cryptocurrencies. Regulator Sees ‘Extraordinary Consumer and Investor Demand’ for Crypto Australian

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Ripple Expects SEC Lawsuit Over XRP to Conclude Next Year, CEO Says ‘We’re Seeing Pretty Good Progress’ – Regulation Bitcoin News

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Ripple CEO Brad Garlinghouse says that he expects the lawsuit over XRP by the U.S. Securities and Exchange Commission (SEC) to come to a conclusion next year. The executive explained: “We’re seeing pretty good progress despite a slow-moving judicial process.” Ripple’s CEO Is Hopeful the SEC’s Lawsuit Over XRP Will Conclude

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Central Bank’s Targeting of P2P Crypto Transactions Forces Startup to Quit Nigeria – Regulation Bitcoin News

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The Nigerian startup behind the social payment app for cryptocurrency and fiat, Kurepay, says the Central Bank of Nigeria (CBN)’s current crackdown on crypto entities has forced it to suspend operations in Nigeria. ‘Horrible’ Year for Crypto Adoption According to a report by the Cryptoassetbuyer, this suspension of operations is set to

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Freezing or Closure of Bank Accounts Not Supported by Law – Regulation Bitcoin News

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The Blockchain Industry Coordinating Committee of Nigeria (BICCON), has said it is not lawful for Nigerian financial institutions to arbitrarily freeze or close bank accounts belonging to individuals or entities accused of trading cryptocurrency. Affected Crypto Entities Told to Seek Legal Advice In a public statement issued on November 22, BICCON —

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We Need to Acknowledge Crypto Is Not a Fad, Defi Presents Huge Opportunities – Regulation Bitcoin News

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Australian Senator Jane Hume says we need to acknowledge that cryptocurrency is not a fad, adding that there are huge opportunities in decentralized finance (defi). “We should tread cautiously, but not fearfully,” she said, emphasizing that “Australia mustn’t be left behind by fear of the unknown.” Australian Senator Says Crypto Is

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US and UK Agree to ‘Heighten the Focus on Illicit Use of Cryptocurrency’ – Regulation Bitcoin News

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The U.S. and U.K. governments have “committed and agreed to heighten the focus on illicit use of cryptocurrency and ransomware,” the U.S. Department of Justice announced. According to the FBI, high crypto prices have partially made ransomware “incredibly lucrative for the criminals.” Governments Collaborate to Focus on Illicit Use of Crypto The

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IRS Expects to Seize Billions of Dollars in Cryptocurrency Next Year — More Than $3.5 Billion in Crypto Seized This Year – Regulation Bitcoin News

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The Internal Revenue Service (IRS) has revealed that $3.5 billion in crypto was seized during the fiscal year 2021. This represents 93% of all funds seized by its criminal investigation unit during the same time period. The agency expects to seize billions of dollars more in cryptocurrency next year. IRS Says

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US Sentences Man to 3 Years in Prison for Operating Unlicensed Bitcoin Exchange Business – Regulation Bitcoin News

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A California man has been sentenced to three years in federal prison “for operating an unlicensed business that exchanged at least $13 million in bitcoin and cash, often for drug traffickers,” the U.S. Department of Justice said. He agreed to forfeit various assets, including seized cryptocurrency. Bitcoin Exchange Operator Sentenced to

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Alabama Securities Regulator Shuts Down 97 Fraudulent Cryptocurrency Trading Websites – Regulation Bitcoin News

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The securities regulator of the U.S. state of Alabama has issued a cease and desist order against Acoin Trading and 96 other cryptocurrency websites. The crypto investment schemes promise “excessive returns,” report “fictitious account values,” and impose “undisclosed fees.” US State Regulator Orders 97 Crypto Trading Websites to Shut Down Alabama Securities

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Opposed to Bitcoin Payments, Bank of Russia Says State Should Not Stimulate Spread of Cryptocurrencies – Regulation Bitcoin News

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Cryptocurrencies are anonymous and the government shouldn’t encourage their spread, the head of Bank of Russia has insisted. The regulator remains firmly opposed to the legalization of bitcoin and the like as a means of payment in the Russian Federation. Bank of Russia Reiterates Negative Stance on Cryptocurrencies, Legalization of

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