UAE Central Bank to take action against unlicensed Digital Asset Service Providers
Key Points The United Arab Emirates announced a plan to penalize unlicensed Virtual Asset Service Providers (VASPs). The country’s lawyer, Irina Heaver, explained that the new plan is part of UAE’s efforts to move out of the Financial Action Task Force’s “Grey List.”...
Sam Bankman-Fried will be “Skinned alive”: Anthony Scaramucci
Key Points SkyBridge founder Anthony Scaramucci has criticized the decision by Sam Bankman-Fried’s defense to allow him to take the stand. He says that the prosecutors will exploit weaknesses in his story and end up with a longer sentencing. Anthony Scaramucci, the...
Landmark Marijuana Bill that could hinder regulators from freezing bank accounts of businesses they dont like heads to the Senate.
Key Points A landmark Marijuana bill is headed to the US Senate seeking to challenge regulators who order the closure of bank accounts of businesses they don’t like. The bill seeks to protect legal businesses from being forced to deal with reduced banking options...
Court approves 76 days defense time extension in SEC prosecution against Justin Sun
The SEC vs. Justin Sun case on possible Tron (TRX) market manipulation has seen a new development after the presiding judge granted a defense extension till December 8, 2023, to explore possible resolution before motion practice. Justin Sun’s legal team gets more time...
Brazil to add crypto to debtor’s protected list
Brazilian lawmakers are working on a law that could see crypto enter the debtor’s protected assets list. This means that significant crypto holdings might start being protected from seizures on behalf of creditors in the country. Brazilian lawmakers are discussing a...
U.K. considers blanket ban on crypto investment cold calls
Key Points The United Kingdom Treasury has released a consultation paper seeking to understand the effects of a blanket ban on crypto-related cold calls. The new fieldwork seeks to understand the impacts such a crypto regulation would have on businesses and the...
BlockFi argues FTX and Three Arrows Capital aren’t victims in the repayment case
Key Points Bankrupt crypto lender BlockFi is working on blocking FTX and 3AC from retrieving millions in loan payback. FTX and 3AC had lent money to BlockFi but underwent bankruptcy in 2022, necessitating the payback of loans given to the crypto lender. In an August...
Binance.US to use MoonPay as their USD banking ramp
Key Points Binance.US has scored another win after securing a partnership with MoonPay after having its US bank ties severed. The exchange was on the spot after a lawsuit from the US SEC, prompting the banks to draw away from it as preventive measures. Binance.US has...
Celsius creditors to vote on sale to Fahrenheit after court approval
Key Points Defunct crypto lender Celsius is set to allow its creditors to vote for the sale to Fahrenheit Consortium following a Thursday approval from a judge. Celsius Creditors will be able to recover 67% to 85% of the company’s holdings if the sale goes through...
Ripple Labs hits back at SEC’s request to file for an appeal
Key points Ripple vs. SEC case has been going on for years but has taken a dramatic turn as the US SEC recently lost partially. The Presiding Judge ruled that the sale of XRP in primary and programmatic markets does not constitute the factors that could deem it...
Central Bank of Singapore releases stablecoin regulatory framework
Key points The Monetary Authority of Singapore, in conjunction with the Central Bank of Singapore, has released a new regulatory framework for stablecoins. The new framework requires stablecoin issuers to be regulated by the Monetary Authority of Singapore for their...
France updates its crypto licensing rules to match MiCA
Key Points France has updated its crypto licensing rules to match MiCa legislation The new amendments will come into effect on January 1, 2024, around the same time as the MiCA legislation Applicants for DASP regulatory licenses in France starting in the year 2024...