{
Cryptocurrency & Blockchain Regulations

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}
binance faces lawsuit in australia for failing to protect retail clients
Binance Australia Derivatives is facing a lawsuit from the Australian Securities and Investments Commission (ASIC) for misclassifying over 500 retail clients as wholesale clients, denying them essential consumer protections. The allegations include failing to provide necessary disclosures and adequate compliance systems, leading to significant financial losses for investors, with Binance compensating affected clients approximately $13 million in 2023. This case is part of broader regulatory efforts by ASIC to enhance oversight of digital assets and protect consumers.
The Crypto Basic - Bitcoin, Cryptocurrency, DeFi Topics And News
AUS NGA Tigran Gambaryan
Regulatory & Legal, News Article
16:43 18.12.2024
Hong Kong grants licenses to four new crypto trading platforms
Hong Kong's Securities and Futures Commission (SFC) has granted licenses to four new virtual asset trading platforms, increasing the total to seven that can serve retail customers. The licensed firms, which include Accumulus GBA Technology Ltd and DFX Labs Company Ltd, underwent rigorous inspections to ensure compliance with global security standards. The SFC aims to balance investor protection with the growth of the virtual asset ecosystem, with plans to consider 11 more platforms for licensing by year-end.
CryptoSlate
HKG Eric Yip Show more
Regulatory & Legal, News Article
16:40 18.12.2024
charles hoskinson advocates for governance reform in cardano foundation
Charles Hoskinson advocates for a governance overhaul of the Cardano Foundation, criticizing its Swiss-based model for lacking community input and transparency. He proposes relocating to jurisdictions like Abu Dhabi or Wyoming to enable community-driven board elections and enhance accountability. The Foundation has faced ongoing criticism since its inception in 2016, prompting discussions on adopting a more decentralized governance structure.
Crypto News Flash
CARDANO Foundation CHE Charles Hoskinson
Regulatory & Legal, News Article
16:33 18.12.2024
ASIC files lawsuit against Binance Australia over investor misclassification issues
The Australian Securities and Investment Commission (ASIC) has filed a lawsuit against Oztures Trading Ltd, operator of Binance Australia Derivatives, for misclassifying over 500 retail investors as wholesale clients, thus denying them essential consumer protections. Between July 2022 and April 2023, Binance allegedly failed to provide necessary disclosures and dispute resolution mechanisms, potentially causing significant financial harm. ASIC is seeking penalties and has emphasized the importance of proper client classification to ensure informed decision-making in the risky digital asset market.
CryptoSlate
AUS Sarah Court
Regulatory & Legal, News Article
15:40 18.12.2024
Ripple ETFs may face delays as Litecoin and Hedera gain approval edge
As the crypto community anticipates ETF approvals in 2025, analysts predict that Litecoin (LTC) and Hedera (HBAR) are likely to be approved before Ripple (XRP) and Solana (SOL). LTC and HBAR are viewed as commodities, avoiding SEC security classifications, while XRP's ongoing legal battles hinder its ETF prospects. Approval for XRP ETFs may only be considered once the legal complexities are resolved, potentially under a new SEC administration.
CryptoPotato
James Seyffart Eric Balchunas
Regulatory & Legal, Market Report
14:28 18.12.2024
crypto com withdraws sec lawsuit after meeting with trump
Crypto.com has voluntarily withdrawn its lawsuit against the SEC, a surprising move following CEO Kris Marszalek's meeting with President-elect Donald Trump. The discussions included potential government appointments and a proposed national Bitcoin reserve, signaling a shift towards collaboration with the new administration, which is seen as more supportive of crypto innovation. Key appointments, such as Paul Atkins as SEC Chairman and David Sacks as the White House A.I. & Crypto Czar, further indicate a pro-crypto regulatory environment.
Decrypt
United States Dollar Crypto.com Staked ETH USD USA Howard Lutnick David O. Sacks Kris Marszalek Donald Trump Paul Atkins Show more
Regulatory & Legal, News Article
14:12 18.12.2024
Polygon accuses Aave of monopolistic practices in DeFi governance dispute
Polygon has accused Aave of monopolistic practices, claiming the DeFi platform is stifling innovation and using intimidation tactics against competitors like Morpho. Aave's founder defended the protocol's actions as necessary for user protection, rejecting allegations of anti-competitive behavior. Polygon's leadership emphasized their commitment to a decentralized and competitive DeFi ecosystem, vowing to resist any actions that undermine Web3 principles.
CryptoSlate
Polygon USD Aave USD Stani Kulechov Sandeep Nailwal
Regulatory & Legal, News Article
13:38 18.12.2024
cryptocurrency etfs expected to surge by 2025 amid regulatory changes
Bloomberg analysts predict a rise in cryptocurrency ETFs by 2025, driven by potential changes in SEC leadership with pro-crypto advocate Paul Atkins. Bitcoin and Ethereum ETFs are expected to dominate the market due to their classification as commodities, while Solana and XRP face uncertain approval due to ongoing legal issues. Litecoin and HBAR ETFs may gain traction, although demand remains uncertain.
Coinchapter
Bitwise Bitcoin ETF Franklin Templeton - Franklin M HASHDEX MOMENTUM ETP USA James Seyffart Gary Gensler Eric Balchunas Paul Atkins Show more
Regulatory & Legal, Market Report
13:28 18.12.2024
Bybit to cease operations in France transferring funds to Coinhouse
Bybit will cease withdrawal and custody services in France by January 8, 2025, amid increasing regulatory pressures. French users must withdraw their assets or verify with Coinhouse to access any unclaimed funds transferred after the service termination. The move follows earlier restrictions on French accounts and highlights the growing scrutiny of crypto platforms in the European market.
Crypto News Flash
FRA
Regulatory & Legal, News Article
13:00 18.12.2024
global regulatory landscape shifts as countries tighten digital asset regulations
Norwegian regulations now mandate data centers to disclose ownership and services, aiming to empower local authorities in decision-making. Meanwhile, global enforcement against digital asset fraud intensified, with the CFTC and SEC reporting record recoveries from scams, including the FTX collapse and Terraform Labs fraud. In the U.K., a proposed bill seeks to classify digital assets as property, addressing legal ambiguities, while China revises AML laws to include virtual assets, maintaining a ban on digital asset transactions.
CoinGeek
Euro British Pound Sterling Indian Rupee United States Dollar Chinese Yuan CHN HKG GBR IND Edgardo Ramos Karianne Tung Terje Aasland Do Kwon Mark Scott Show more
Regulatory & Legal, Market Report
13:00 18.12.2024
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