It Doesn’t Make Sense That Cryptopia Shutdown Due To A $3.2 Million Hack, Since They Still Have Over 90% Of User’s Funds Worth Over $100 Million

Back in January 2019 Cryptopia was hacked for roughly $3.2 million. At the time the hack seemed really bad, and lots of users were saying that it was an exit scam. Cryptopia has never been reopened since then. However, over 90% of user’s funds are intact, worth over $100 million, and it doesn’t really make… Read more

The Crypto-Currency Act of 2020 Has Been Officially Proposed in the United States Congress

Paul Gosar, the Republican Congressman from Arizona, has officially proposed the Crypto-Currency Act of 2020. Although the title of the bill does not spell the word cryptocurrency correctly, it does aim to provide a clearer regulatory framework for cryptocurrency in the United States. The bill will legally divide cryptocurrency into Crypto-Currency, Crypto-Commodity, and Crypto-Security. Essentially,… Read more

New South Korean Law Will Properly Regulate The Crypto Industry

South Korea has passed the Special Finance Information Law, which will provide proper regulation for the cryptocurrency industry in South Korea, which is much needed considering the excessive amounts of crypto exchange hacks that have occurred in South Korea. One of the most beneficial aspects of the new law is that all crypto exchanges need… Read more

Indian Supreme Court Removes The Crypto Exchange Ban

In April 2018 the Reserve Bank of India (RBI), which is the Central Bank of India, effectively banned crypto exchanges and severely restricted crypto businesses by barring banks from serving any crypto related business. However, the Supreme Court of India just overruled the RBI crypto bank ban, which will allow the crypto sector in India… Read more

SEC Commissioner Hester Peirce Acknowledges the SEC Will Never Approve a Bitcoin ETF

Securities and Exchange Commission (SEC) Commissioner Hester Peirce, often referred to as Crypto Mom since she is the only SEC Commissioner with a favorable view towards crypto, has acknowledged that the SEC will likely never approve a Bitcoin exchange traded fund (ETF) since the SEC is biased and has constantly shifting standards when it comes… Read more

FinCEN To Announce New Crypto Regulations

According to the United States Secretary of the Treasury, Steve Mnuchin, the Financial Crimes Enforcement Network (FinCEN) is about to unveil new crypto regulations. Although the exact details regarding these regulations have not been announced yet, Mnuchin gave some ominous hints. First off, Mnuchin said that FinCEN is increasing its measures to inhibit terrorist funding,… Read more

Rise of the Crypto Lawyers: How the Clash Between Cryptocurrency and Regulation Has Spawned a New Legal Field

The clash between regulators and the crypto space has led to the genesis of a whole field of lawyers who are experts in the gray area where crypto laws, banking laws, and money laundering laws all overlap. The primary goal of these crypto lawyers is to help clients trade large amounts of cryptocurrency into fiat… Read more

SEC Commissioner Dubbed ‘Crypto Mom’ Proposes Three-year ICO Safe Harbor, but it Is Unlikely to Be Ratified Into Law

Securities and ExchangeCommissioner Hester Peirce, often called ‘Crypto Mom’ because she is the only commissioner with a favorable attitude towards crypto, has proposed a three-year safe harbor for crypto token projects such as initial coin offerings (ICOs).  At this time, crypto token projects and ICOs need to seek approval from the SEC before launching, but… Read more

India Acknowledges That Bitcoin And Crypto Assets Are Legal

During a Supreme Court case the Reserve Bank of India (RBI), which is India’s Central Bank, conceded that Bitcoin (BTC) and other crypto assets are not illegal, and therefore citizens can hold, invest, and trade crypto. Specifically, the RBI says that virtual currencies are not prohibited, rather banks and other financial services have been directed… Read more

Deribit Moves to Panama to Escape Harsh European Regulations

The Amsterdam-based cryptocurrency futures and options trading platform Deribit is moving to Panama in order to escape harsh regulations. The move is expected to become official on February 10, after which point Deribit will operate under the Panamanian company DRB Panama Inc. The Netherlands is about to adopt the Fifth Money Laundering Direction (5AMLD), which… Read more