Basel Committee Proposes Differentiating Regulation of Crypto Assets Based on Risks to Banks

Basel Committee Proposes Differentiating Regulation of Crypto Assets Based on Risks to BanksThe Basel Committee on Banking Supervision has proposed dividing crypto assets into two groups and regulating them based on their market, liquidity, credit, and operational risks to banks. Cryptocurrencies, such as bitcoin, will be subject to “a new conservative prudential treatment.” Crypto Regulation Proposed by Basel Committee on Banking Supervision The Basel Committee has proposed […]

Texas Announces State-Chartered Banks Can Provide Cryptocurrency Custody Services

Texas Announces State-Chartered Banks Can Provide Crypto Custody ServicesThe Texas Department of Banking has announced that state-chartered banks can provide cryptocurrency custody services. “The Texas Department of Banking believes that the authority to provide these services with respect to virtual currencies already exists,” the banking authority said. Texas State-Chartered Banks Officially Authorized to Offer Crypto Custody Services The Texas Department of Banking issued […]

Thailand Bans Meme Coins, Fan Tokens, NFTs From Trading on Crypto Exchanges

Thailand Bans Meme Coins, Fan Tokens, NFTs From Trading on Crypto ExchangesThe Thai Securities and Exchange Commission (SEC) has enacted new rules for cryptocurrency exchanges operating in the country. Certain types of cryptocurrencies, including meme coins, fan coins, and non-fungible tokens (NFTs), are prohibited to trade on crypto exchanges. Thailand Sets New Rules for Crypto Exchanges, Banning Certain Types of Cryptocurrencies The Thai Securities and Exchange […]

India Probes Cryptocurrency Exchange Wazirx in Chinese Money Laundering Case

India Probes Cryptocurrency Exchange Wazirx in Chinese Money Laundering CaseIndia’s Directorate of Enforcement (ED) has reportedly sent a notice to Wazirx, one of the largest cryptocurrency exchanges in India, under the Foreign Exchange Management Act, 1999, (FEMA). The investigation was initiated “on the basis of the ongoing money-laundering investigation into Chinese owned illegal online betting applications,” the ED detailed. ED’s FEMA Investigation of Wazirx […]

Bank of Namibia Warns Crypto Traders It ‘Will Not Entertain Complaints’ if They Get Scammed

Bank of Namibia Warns Crypto Traders It 'Will Not Entertain Complaints' if They Get ScammedThe Bank of Namibia (BON) has warned individuals investing in cryptocurrencies that it will not entertain their complaints should they get scammed. The institution argues that since its mandate does not currently cover digital currencies, it lacks the “legal power” to follow up on such complaints. Growing Namibian Interest in Crypto This latest BON warning […]

Cryptopunk NFT Sold for Almost $12 Million in Sotheby’s Auction

cryptopunkA Cryptopunk NFT was recently sold for $11.8 million during an auction organized by Sotheby’s. The sale, which also featured works of other artists, was organized virtually. Sotheby’s anticipates strong demand for this kind of digital good in the future, even as NFT fever has somewhat subsided in recent weeks. Cryptopunk NFT Sold for Almost […]