ChainCatcher news, according to Portal Do Bitcoin, Argentina's Financial Information Unit (UIF) and the Securities Commission (CNV) have conducted on-site supervision of a Bitcoin and cryptocurrency exchange for the first time to identify risks related to money laundering, terrorist financing, and the financing of weapons of mass destruction.This inspection is part of the UIF's 2024 annual regulatory plan and took place at an undisclosed exchange in the city of Rosario, Santa Fe Province. According to Resolution No. 49/2024, virtual asset service providers are required to report to the UIF and register with the CNV. This move comes as Argentina increases its vigilance against cryptocurrency-related scams, with recent reports of unregistered platforms involved in fraudulent activities.

ChainCatcher News, U.S. state securities regulators have stated that most of their investigations and enforcement actions in 2023 stem from technology and digital assets.In new investigations launched in 2023, 343 cases involved digital assets, 144 involved staking, and 205 involved social media fraud. The North American Securities Administrators Association stated in a release earlier this week that these numbers represent a "significant increase" compared to 2022.According to the 2024 Enforcement Report released on Tuesday, throughout the entire calendar and fiscal year of 2023, state regulators also reported 214 cases involving stocks and equity, as well as 145 cases involving Ponzi schemes and pyramid schemes. The report was compiled through a survey of NASAA members, including responses from 49 member jurisdictions of the association.

ChainCatcher news, Ripple Labs CEO Brad Garlinghouse admitted that his company should have engaged with U.S. regulators earlier. Now, after becoming the recipient of enforcement actions, the company and the cryptocurrency industry are striving to catch up.Brad Garlinghouse stated at the Washington Fintech Week event, "I have been to Washington much more in the past few years than in previous years. Looking back, I regret that. I think it was a mistake not to act sooner, and we are working hard to make up for lost time."Ripple is one of the U.S. cryptocurrency companies recently embroiled in legal disputes with the U.S. Securities and Exchange Commission, with many U.S. cryptocurrency executives claiming that the regulator is hostile and unfair to the industry.Previous news, Citigroup has terminated banking services for Ripple's CEO.

ChainCatcher news, according to the latest report from CCData, Binance's market share has fallen to 36.6%, marking a four-year low. The decline in Binance's market share is mainly influenced by two factors: first, the increasing scrutiny from global regulators on Binance; second, the rapid rise of competitors.Since March 2024, Binance's market share has been continuously declining. Earlier this year, Binance's market share was as high as 42.7%, significantly decreasing within a few months. Additionally, Binance's spot trading market share has dropped to 27%, the lowest point since January 2021.Over the past year, Binance has faced significant regulatory challenges. In 2024, Binance reached a settlement with the U.S. Department of Justice for violating sanctions, paying a fine of $4 billion. Subsequently, Binance co-founder and former CEO Changpeng Zhao resigned due to legal issues and was sentenced to four months in prison.

ChainCatcher news, according to Bitcoin.com, U.S. Congressman Warren Davidson introduced the "Assessing DeFi Opportunities Act" on Tuesday. The bill calls for the U.S. Securities and Exchange Commission (SEC), the U.S. Commodity Futures Trading Commission (CFTC), and the Secretary of the Treasury to jointly study decentralized finance (DeFi). Davidson emphasized that DeFi plays a crucial role in the future of capital markets, but he expressed concerns about the Biden-Harris administration's regulatory approach to the sector. He described, "This legislation ensures that the federal government can implement data-driven financial regulation without interfering with the development of digital markets or jeopardizing the user privacy provided by DeFi."Lawmakers pointed out that as the number of users continues to grow, the total market capitalization of DeFi has soared to approximately $75 billion. However, Davidson warned that excessive regulation could stifle innovation and lead to investments flowing overseas. The proposed study aims to help regulators understand the benefits of DeFi, such as the operational resilience of blockchain, market competition, and user privacy protection. Davidson stressed that regulators need to "take a cautious approach" to ensure that DeFi can thrive without compromising user privacy or innovation.

ChainCatcher news, according to crowdfundinsider, the three major European regulatory authorities (EBA, EIOPA, and ESMA, collectively referred to as ESA) have released a consultation document on the regulation of crypto assets (MiCAR), establishing "a template for explanations and legal opinions on the classification of crypto assets, as well as standardized tests aimed at promoting a common approach to classification."

ChainCatcher news, the Secretary for Financial Services and the Treasury of the Hong Kong Special Administrative Region, Xu Zhengyu, stated that with the development of the cryptocurrency industry, regulators will review the requirements related to cryptocurrency activities as needed.Xu Zhengyu said today that the Hong Kong Monetary Authority and the Securities and Futures Commission will "closely monitor market developments and review the regulations related to virtual asset activities when appropriate." He made the above comments when a legislator asked whether regulators would expedite the review process for cryptocurrency licenses and relax the rules for intermediaries distributing crypto assets.

ChainCatcher news, according to a report by Interface News, Hong Kong's Secretary for Financial Services and the Treasury, Xu Zhengyu, stated in Shanghai that this year marks the 10th anniversary of the interconnection between the Hong Kong and mainland markets. Currently, there is a RMB counter for Hong Kong stocks, and 24 large-cap stocks can be traded in either HKD or RMB simultaneously. We are now closely consulting with mainland regulatory authorities to implement allowing mainland investors to directly use RMB to purchase RMB-denominated stocks listed in Hong Kong, connecting the RMB counter to the Hong Kong Stock Connect.

ChainCatcher news, according to Cointelegraph, recently, a U.S. appeals court overturned a regulation by the U.S. Securities and Exchange Commission (SEC) that required hedge funds and private equity firms to increase transparency regarding fees and expenses. The court found that this move exceeded the authority granted by Congress. This case strikes a blow against the regulatory agency's claims of congressional authorization over the industry. In recent years, outspoken critics of this regulatory agency within the cryptocurrency industry have raised similar criticisms.On June 5, the Fifth Circuit Court of Appeals ruled against the SEC, stating that it "exceeded its statutory authority." The 656-page regulation required funds to publish quarterly reports, conduct annual audits, and prohibited preferential treatment for certain investors. Six industry groups questioned whether the regulation would increase compliance costs and alter the operational model of the industry. Bill Hughes, a senior attorney at ConsenSys, stated that the SEC's performance over the past three years has been out of sync. In the cryptocurrency space, the SEC believes that many cryptocurrencies fall under its regulatory purview as securities, but cryptocurrency companies argue that the SEC lacks the authority to regulate unless explicitly authorized by Congress.

ChainCatcher news, SEC Chairman Gary Gensler stated on Wednesday that the Financial Innovation and Technology for the 21st Century Act (referred to as "FIT 21") will harm investor interests and hinder the work of the SEC.He said, "FIT 21 will create new regulatory gaps, undermining decades of precedent regarding the regulation of investment contracts, exposing investors and capital markets to immeasurable risks."FIT21 is a bill jointly proposed by the House Agriculture Committee and the House Financial Services Committee, aimed at clarifying how the SEC and the Commodity Futures Trading Commission (CFTC) regulate cryptocurrencies. The bill creates the term "digital commodities" for digital assets that do not meet the definition of securities, placing these assets under the jurisdiction of the CFTC.

ChainCatcher news, according to Jin10, Federal Reserve Governor Barr stated that regulators are reviewing the regulatory treatment of certain types of deposits, including those related to venture capital or cryptocurrency businesses.

ChainCatcher news, former U.S. President Donald Trump stated in an interview with CNBC that if elected president again, his administration would not use regulatory agencies to crack down on the use of Bitcoin or other cryptocurrencies. Bitcoin has been widely used.Trump mentioned that he noticed many of the recently launched Trump-branded sneakers were paid for with cryptocurrency. When asked if he owned any Bitcoin, Trump said he did not have any Bitcoin but sometimes allows people to pay with Bitcoin.

ChainCatcher news, the Monetary Authority of Singapore (MAS) stated that it has collaborated with the Financial Services Agency of Japan (FSA), the Swiss Financial Market Supervisory Authority (FINMA), and the Financial Conduct Authority of the United Kingdom (FCA) to advance pilot projects for digital assets in fixed income, foreign exchange, and asset management products.MAS has established a decision-making group for Project Guardian, which consists of FSA, FCA, and FINMA (an industry collaboration initiative led by MAS), aimed at promoting discussions on the legal, policy, and accounting treatment of digital assets, as well as identifying potential risks in existing policies and legislation related to tokenization solutions.

ChainCatcher news, according to Bitcoin.com, the U.S. Securities and Exchange Commission (SEC), the Financial Industry Regulatory Authority (FINRA), the Commodity Futures Trading Commission (CFTC), the National Futures Association (NFA), the Securities Investor Protection Corporation (SIPC), and the North American Securities Administrators Association (NASAA) have jointly issued multiple warnings regarding investments in crypto assets, stating that investments in crypto assets may be highly volatile and speculative, and that platforms for buying, selling, borrowing, or lending these assets may lack protections.Regulators warn that providers of crypto asset investments or services may not comply with applicable laws, including federal securities laws. Furthermore, the announcement details that crypto asset investors face numerous risks, including unregistered offerings, lack of protection from the Securities Investor Protection Corporation (SIPC), and fraud.