In a groundbreaking move, the Kenyan parliament has directed the Blockchain Association of Kenya (BAK) to draft the country’s first comprehensive cryptocurrency regulation bill. This marks a significant step towards establishing a clear regulatory framework for cryptocurrencies in Kenya. The DirectiveThe National Assembly’s Departmental Committee on Finance and National Planning summoned BAK representatives on Oct….

The Bank of England, in collaboration with the Financial Conduct Authority (FCA), has recently announced its plans to regulate stablecoins. This move is seen as a significant step towards integrating stablecoins into mainstream financial systems, potentially offering UK consumers and retailers a new, digital method of payment. What are Stablecoins?Stablecoins are a type of digital…

In a significant development for the cryptocurrency market in the United Kingdom, global payment platform PayPal has secured its position as a registered cryptocurrency service provider with the UK’s Financial Conduct Authority (FCA).This registration allows PayPal to offer crypto-related services to its British users. A Milestone for PayPalThe FCA registration marks a crucial milestone for…

FTX, a crypto exchange that filed for bankruptcy in June 2023, has received permission from a US court to liquidate its remaining cryptocurrency holdings. The move will allow the company to repay its creditors in US dollars and reduce the risks associated with the volatile crypto market. According to a court filing, FTX has over…

FTX, the crypto exchange that filed for bankruptcy in August 2023, is preparing to sell off some of its digital assets to repay its creditors. The exchange has received court approval to liquidate up to $3.4 billion worth of cryptocurrencies, including Solana, FTT, Aptos, Dogecoin, and others. The sale is expected to start on September…

JPMorgan, the largest bank in the US, is working on a new project that could revolutionize the way cross-border payments and settlements are done. The project involves creating a blockchain-based digital deposit token that would represent a claim on a commercial bank’s deposits. The token would enable faster, cheaper, and more secure transactions between different…

The UK’s Financial Conduct Authority (FCA) has issued a notice to all cryptoasset firms that market their products or services to UK consumers, reminding them of their obligations under the new financial promotion regime that will come into effect on 8 October 2023. The notice also warns of the potential consequences for non-compliance, which could…

Visa, the global leader in payments, has been exploring the potential of stablecoins, a type of cryptocurrency that is pegged to a fiat currency, such as the US dollar. Stablecoins offer the benefits of digital currencies, such as speed, cost, security, and transparency, while minimizing the drawbacks of volatility and regulatory uncertainty. In 2021, Visa…

In a ground-breaking move that signals a convergence of traditional finance and the burgeoning crypto economy, Coinbase announced its listing of PayPal’s stablecoin, PYUSD. This comes on the heels of Kraken’s recent addition of PYUSD trading options, marking a significant stride in the stablecoin’s mainstream adoption. Coinbase Assets took to Twitter to confirm the news,…

The European Union has recently taken a significant step towards regulating the cryptocurrency market with the adoption of the Markets in Crypto-Assets (MiCA) regulatory framework. This comprehensive set of regulations, which was signed into law on May 31st, aims to provide legal certainty for crypto-assets not covered by existing EU legislation. MiCA establishes harmonized rules…