FINRA Fines Ex-Merrill Lynch Investment Adviser Over Crypto Mining Sideline

U.S. self-regulatory organization, the Financial Industry Regulatory Authority (FINRA), has fined and suspended an investment adviser over undeclared cryptocurrency mining activities. According to a letter of acceptance, waiver and consent published by FINRA on June 10, Kyung Soo Kim had been working at Merrill Lynch and was registered with the watchdog as a general securities representative through the firm…

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Japanese Tax Authorities Push for New Crypto Regulations

Crypto-related businesses and individuals have failed to report crypto gains valued at 10 billion yen ($93 million), according to Japanese Tax Authorities. Asahi Shimbun reported that 30 companies and 50 individuals are being investigated for failure to account for astonishing profits made from cryptocurrency trading over a period of several years. This figure is linked…

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Malaysia Begins Approving Crypto Exchange Registrations

Malaysia’s securities commission has begun registering cryptocurrency exchanges after it started regulating the crypto space earlier this year. The first three crypto trading platform operators have been conditionally approved and given nine months to comply with registration requirements. Meanwhile, 19 crypto exchanges have been told to cease operations. Also read: Indian Supreme Court Postpones Crypto…

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Australian Government Publishes Update on Cryptocurrency and ICO Rules

The Australian Securities and Investments Commission (ASIC) has published an update on how it intends to regulate crypto-related businesses and initial coin offerings (ICOs). In this guideline, the financial regulator outlines requirements that need to be followed for cryptocurrency businesses to be compliant with the ASIC Act. This update is noteworthy as the country continues…

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What to Expect at the SEC’s Blockchain Forum on Friday

At a fraught moment for government-industry relations, U.S. regulators and cryptocurrency insiders are sitting down for a meeting. The Securities and Exchange Commission (SEC) will convene its first FinTech Forum Friday at the agency’s headquarters in Washington, D.C., discussing a range of issues related to digital assets and distributed ledger technology (DLT). The speaker roster includes…

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Bitbond Plans to Raise $3.9 Million in Germany’s ‘First’ Regulated STO

Blockchain-based lending platform Bitbond is launching a security token offering (STO) that it says is the first to be approved by a regulator in Germany. Through the sale, the firm aims to raise €3.5 million ($3.9 million), allowing it to continue providing loans to small businesses, Germany-based Bitbond announced Tuesday. The STO is open until July…

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