Why People Buy Their Own NFTs? Is It Wash Trading? Is It Illegal?

You've undoubtedly heard about non-fungible tokens (NFTs), and you may have many questions on the matter. Digital ownership can be challenging to understand, and the market hype certainly does not help develop a rational analysis. It's tough to know who to believe when many of the loudest voices are financially engaged in NFTs. In recent times, we have observed a peculiar tendency in the market. Some creators are starting to buy the NFTs they launched, creating skepticism in the industry.…

China warns against using the metaverse for illegal fundraising

The China Banking and Insurance Regulatory Commission has cautioned against using the metaverse to raise funds illegally. A report unveiled this news earlier today, citing a statement on the regulator’s website. The watchdog pointed out that some firms are engaging in illegal fundraising, fraud, and virtual real estate speculation. Urging citizens to be vigilant, the agency said, Beware of being duped, and if you find clues of suspected illegal crimes, please actively report this to the relevant local departments. This…

Brazil – An Important Bet for Crypto Exchanges

While the regulatory world proceeds on different and disconnected paths, Brazil represents one of the most attractive markets for crypto exchanges. Several macroeconomic and legal factors are creating an optimal environment for these companies. This article will provide a general overview of the topic, including the main aspects attracting crypto exchanges' attention. Finally, we will report the views of some of the world's leading businesses on Brazil and its future in the crypto universe. The stablecoin mania 2021 was a…

Bank of Russia Awards First-Ever Crypto License to Atomyze

Atomyze is the first blockchain platform to receive a license to trade digital assets in Russia. The news of Atomyze’s license approval comes exactly a year after the platform applied alongside several other institutions. The license transforms Atomyze into the first officially registered fintech firm with the Bank of Russia. This also implies that the blockchain platform will legally issue tokens while offering digital wallet services to Russian customers. Atomyze employs decentralized technology to tokenize tangible assets. In this case,…

Russian Finance Minister Says Crypto Could Bring In $2.3 Billion In Taxes

Key Russian financial authorities have radically different views on crypto regulation. On Wednesday, Finance Minister Anton Siluanov voiced his opposition to the Bank of Russia's harsh stance on crypto. In a letter to Prime Minister Mikhail Mishustin, said that the country should regulate, rather than ban cryptos. He also said that crypto regulation would bring in an additional $2.3 billion in taxes to Russia. To make regulation more effective, he suggested allowing banks to provide exchange services. This would allow licensed…

Pakistan Central Bank Proposes Total Crypto Ban

Pakistan's authorities consider a complete ban on crypto after a scandal that cost thousands of investors $100 million. A committee headed by the bank's deputy governor recommended a complete ban on crypto. On Thursday, Sima Kamil, deputy governor of the State Bank of Pakistan (SBP), submitted the findings to the provincial court. After a careful risk-benefit analysis, it emerged that risks of cryptocurrency far outweigh its benefits for Pakistan. The committee cited concerns over the balance of payments, losses to…

What Are the US SEC Cryptocurrency Regulations?

The United States Securities and Exchange Commission (or, simply, SEC) regulates the financial security market at a federal level. Among the many topics that have caught the interest of the SEC, one cannot forget to mention the crypto and blockchain markets. The existing SEC crypto regulations target several common aspects of this new industry, which is why no investor can allow ignoring these regulations. Therefore, while the world waits for a global policy on the sector, our article will deal with…

Voyager Targeted By Class Action Lawsuit For Charging Hidden Fees

Voyager Digital – a cryptocurrency broker offering simultaneous access to cryptocurrencies on multiple exchanges – has run into some legal trouble. It is now facing a lawsuit alleging that it misled customers by charging hidden fees on transactions. However, Voyager said the accusations are bunk and plan to deal with the matter “through the appropriate legal channels. Lawsuit Against Voyager As reported by Bloomberg, it filed the lawsuit in federal court in Miami on Christmas Eve. It alleges that Voyager…

Relief: Federal Reserve Chairman Does Not Plan to Ban Cryptocurrency

Cryptocurrency fans and investors just breathed a major sigh of relief. Jerome Powell– Chairman of the Federal Reserve– has confirmed that he “has no intention” to ban cryptocurrency in the US. Powell’s Position on Crypto The chairman confirmed and clarified his position today while testifying in front of congress. House Representative Ted Budd asked Powell to explain one of his previous statements on the matter.  [caption id="" align="aligncenter" width="967"] Jerome Powell. Source: Reuters[/caption] In July, Powell joined a slew of…

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