A Hong Kong lawmaker, Johnny Ng Kit-chong, is encouraging global investors to keep their faith in the city’s Web3 sector following accusations from cryptocurrency mogul Justin Sun about flaws in local financial regulations. Sun claimed that the First Digital Trust misappropriated funds connected to the TrueUSD stablecoin for other investments, raising concerns about Hong Kong’s ...
Bitcoin mining has sparked a heated debate about its environmental impact and potential role in promoting renewable energy. Advocates argue that using surplus renewable energy for mining can make the process greener and boost investments in sustainable energy. However, critics highlight that this approach may lead to increased overall energy consumption and electronic waste, rather ...
In a recent discussion, Robert Hunt draws parallels between Walt Disney’s “Fantasia” and the emergence of agentic artificial intelligence (AI). Many Americans may use AI technology daily without realizing it, according to a poll. Hunt highlights that just like Mickey Mouse’s magic turned brooms into troublesome helpers, AI can operate independently, which can be both ...
In this week’s Mariblock Weekly, we explore significant developments in cryptocurrency regulations across Africa. KPMG urges Nigerian banks to embrace blockchain and crypto firms following a reversal of the Central Bank’s ban on crypto transactions. Meanwhile, Rwanda has introduced draft regulations for virtual asset service providers, requiring them to register or face penalties, while South ...
The cryptocurrency Market has experienced remarkable growth, mainly driven by Bitcoin and Ethereum. In December 2024, Bitcoin reached an all-time high of over $100,000, highlighting its rising acceptance. Institutional investments have played a crucial role, with companies increasing their Bitcoin holdings, while Bitcoin ETFs have improved access for all investors. Regulatory changes, particularly a more ...
Cryptocurrency regulations vary widely across the globe, with several countries imposing total bans due to concerns about financial stability and illegal activities. Nine nations, including China, Bolivia, Morocco, and Afghanistan, have outlawed digital currencies. China began restricting crypto activities in 2013, while Bolivia enforced a ban in 2014 to protect its economy. Other countries, like ...
The Securities and Exchange Commission (SEC) is shifting its stance on cryptocurrency, much to the delight of the industry. They have launched a new Crypto Task Force aimed at creating a clearer regulatory framework for digital assets. This change follows mounting pressure from Congress, investors, and the White House. The task force will define what ...
Coinbase, the largest cryptocurrency exchange in the U.S., is pushing for clearer regulations to facilitate partnerships between banks and the crypto industry. The company has urged banking regulators to revise their rules, enabling banks to offer crypto custody and trading services. In a letter to important regulatory bodies, Coinbase stated that current interpretations effectively create ...
The Financial Supervisory Commission (FSC) is planning new laws to regulate the cryptocurrency industry and requires virtual asset service providers (VASPs) to obtain permits within 15 months after the rules are issued. All VASPs will be classified as financial institutions, and personal trading will be illegal. The upcoming regulations will include specific capital requirements and ...
A group of financial experts, including Klaros Group Partner Michele Alt, has called for a quicker and easier process for obtaining bank charters. They believe this change would encourage innovation in financial services, keep these activities regulated, and boost competition. In an open letter to federal banking agencies, they highlighted that the current lengthy application ...
