SFC Ends Non-Contravention Period for Virtual Asset Trading Platforms in Hong Kong on June 1, 2024

by Theresa Joy Lacatan | Jun 6, 2024 | Blog News, Crypto News

Effective June 1, 2024, all virtual asset trading platforms (VATPs) in Hong Kong must be licensed by the Securities and Futures Commission (SFC) or be deemed-to-be-licensed applicants, marking the end of the non-contravention period under the Anti-Money Laundering and...

Dapper Labs Reaches $4 Million Settlement, Affirms NBA Top Shot NFTs Are Not Securities

by Theresa Joy Lacatan | Jun 6, 2024 | Blog News, Crypto News

Dapper Labs has agreed to a $4 million settlement to conclude a class-action lawsuit alleging that its NBA Top Shot Moments nonfungible tokens (NFTs) were unregistered securities. This settlement reaffirms that the NFTs are not securities, according to CEO Roham...

Thailand SEC Approves First Spot Bitcoin ETF, Paving the Way for Digital Asset Adoption

by Theresa Joy Lacatan | Jun 6, 2024 | Blog News, Crypto News

In a landmark move for the cryptocurrency market, the Thailand Securities and Exchange Commission (SEC) has approved the country’s first spot Bitcoin Exchange-Traded Fund (ETF). This significant step marks a pivotal moment in the mainstream adoption of digital...

Australian Court relieves Block Earner from Penalty Despite Licensing Dispute

by Theresa Joy Lacatan | Jun 6, 2024 | Blog News, Crypto News

Australia’s federal court has ruled in favor of fintech firm Block Earner, relieving it from paying a fine despite finding that it offered a crypto yield-bearing product without a financial services license. Justice Ian Jackman determined that Block Earner...

Binance to Delist Multiple Tokens Amid Regulatory Compliance Drive

by Theresa Joy Lacatan | Jun 6, 2024 | Blog News, Crypto News

Binance, the world’s largest cryptocurrency exchange by trading volume, announced its decision to delist several tokens, including OmiseGo (OMG), Waves (WAVES), Wrapped NXM (WNXM), and NEM (XEM). According to Binance’s official statement, all spot and margin trading...

Hong Kong’s Crypto Crackdown: Unlicensed Exchanges Ordered to Cease Operations

by Theresa Joy Lacatan | Jun 6, 2024 | Blog News, Crypto News

All cryptocurrency exchanges that have not applied for an operational license with Hong Kong’s Securities and Futures Commission (SFC) are now legally required to cease operations in the region immediately. This decisive move aims to safeguard investors by...