Regulations

Spain will crackdown on crypto influencers to protect investors and combat crypto scams. New regulations will require big influencers to notify authorities before promoting crypto. They will also have to warn of the risks associated with crypto investing. Moreover, influencers will have to disclose to their fans that they are getting money to promote crypto. Influencers that don't follow these rules will have to pay steep fines. New rules mean that influencers will have to disclose their affiliation with crypto…

The Nigerian central bank remains hostile to anything crypto besides a CBDC. Still, one high-level minister is defending the industry. Clem Agba, minister of state for budget and national planning, is calling for more precise and more welcoming regulation of the space. Like the United States, Nigeria struggles to classify crypto assets using existing financial terms correctly. Fighting For Crypto In Nigeria Minister Agba spoke about regulating the industry at a conference this Thursday, as reported by Bloomberg. He said…

The Decentralized Finance (DeFi) space is so vibrant that it's hard to grasp the longevity of its applications. According to statistics from coinmarketcap, the market cap of DeFi is over $112bn. For that, financial watchdogs are having a hard time keeping up with such an explosive industry. Just recently, a hacker managed to scoop up to $600 of crypto from the Poly network. Such a security breach has ignited talks on whether regulators should be more involved in overseeing the…