The line separating FTX and FTX.US appears to be blurring, owing to an ad campaign featuring celebrities like Larry David, Tom Brady, and Gisele Bündchen. US District Attorney Damian Williams argues that these celebrities do not distinguish between the two platforms, which could potentially serve as evidence in the case against Sam Bankman-Fried. Williams notes the inconsistencies in their arguments claiming irrelevance to FTX.US, maintaining that these statements actually influenced customers to trade on FTX or keep their funds on the platform.
Meanwhile, a court in Xiamen, China, asserts that cryptocurrency should be recognized as property and protected under the law, despite the Chinese government’s efforts to restrict digital asset-related activities. With these comments, the court establishes that the asset’s “economic attributes,” even outside of Chinese markets, demand its objective legality.
South Korean government is reportedly preparing a bill aimed at tracking and freezing North Korean digital assets suspected of funding unwarranted weapons programs. The revised bill is said to be backed by ten months of interdepartmental discussions, focusing on adding substance to existing penalties against North Korea.
On the other side of the globe, the London Stock Exchange Group (LSEG) reportedly plans to launch a blockchain-powered digital markets business. Spearheaded by Julia Hoggett, this revolutionary trading venue aims to make operations smoother, cheaper, transparent and, importantly, regulated.
Simultaneously, the popular exchange OKX has entered the last phase of procuring a virtual asset service provider license in Hong Kong. The exchange anticipates final approval by March 2024, eagerly engaging banks in discussions to prepare for business.
Lastly, MoonPay, a new entrant into the UK market, has announced its registration as a cryptoasset business. In compliance with recently implemented Travel Rule requirements, MoonPay has adapted its operations, also aligning its services to match the local regulatory landscape.
In conclusion, cryptocurrency regulation looks to be a hot topic internationally, demonstrating distinct contrasts between jurisdictions. It is yet to be seen how these developments will shape the future of crypto and blockchain technology.
Source: Cryptonews
