The European Union has taken a major step towards regulating the crypto industry by approving two new laws that aim to ensure consumer protection, market integrity and financial stability. The European Parliament voted in favor of the Markets in Crypto Assets (MiCA) regulation and the Transfer of Funds regulation on Thursday, April 20, 2023. The…

The U.K. government is planning to introduce specific laws aimed at regulating the cryptocurrency industry in the next 12 months, according to a top lawmaker. Andrew Griffith, economic secretary to the U.K. Treasury, told CNBC on Monday that the government had laid out its plans to regulate crypto assets in February and opened its suggestions…

Coinbase, one of the world’s largest cryptocurrency exchange platforms, may consider moving its headquarters from San Francisco to London in the future, according to its CEO Brian Armstrong. Armstrong said that the lack of regulatory clarity in the US was a major factor that could drive the company to relocate to its second-largest market by…

The move comes amid the government’s efforts to draft a comprehensive bill on crypto regulation that is expected to be tabled in the parliament soon. According to a notice issued by the finance ministry on March 8, 2023, crypto firms such as exchanges, custodians and intermediaries are now classified as reporting entities under the Prevention…

Bhutan, a tiny Himalayan kingdom known for its Gross National Happiness index and its environmental conservation efforts, is also making waves in the crypto space. The country has partnered with Ripple, a San Francisco-based company that provides cross-border payment solutions using its cryptocurrency XRP, to launch a digital version of its national currency, ngultrum. The…

The U.S. Securities and Exchange Commission (SEC) is reportedly planning to sue Bittrex, a major cryptocurrency exchange platform, over alleged violations of investor protection laws. The news comes as Bittrex announced its decision to cease all operations in the United States by the end of April 2023. According to The Wall Street Journal, the SEC’s…

Sweden, once considered a stronghold for bitcoin miners in Europe, is facing an uncertain future for its cryptocurrency mining industry. The country is set to abolish tax incentives for data centers in July, which will increase the tax rate from SEK 0.006 ($0.0006) to SEK 0.36 ($0.035) per kilowatt hour (kWh) of energy consumed by…

Twitter, the social media giant that was acquired by Elon Musk last year, has announced a new feature that will let its users access stocks, cryptocurrencies and other financial assets through a partnership with eToro, a social trading company. Starting Thursday, Twitter users will be able to view market charts on an expanded range of…

The G20, a group of 20 major economies, is working on a global framework to regulate cryptocurrencies and address the risks they pose to financial stability and tax compliance. The initiative comes amid growing adoption of crypto-assets for various purposes, such as investment, payment and speculation. The G20 has asked the Financial Stability Board (FSB),…

Ethereum, the second-largest cryptocurrency by market capitalization, is preparing for a major upgrade on April 12th 2023. The upgrade, dubbed Shanghai, will introduce several changes to the network, including unlocking billions of dollars worth of ether (ETH) that have been staked since late 2020. Shanghai is the final phase of Ethereum’s transition from a proof-of-work…