Weekly Report (13 – 19 Feb 23) | What Happened This Week In Crypto

This Report will provide you with some essential and quick news about cryptocurrencies that happened around the world.

1) The U.S. Securities Regulator Has Accused Do Kwon, The Inventor Of The Defunct Terra Stablecoin Of Fraud

According to a lawsuit filed in the Southern District of New York, the U.S. Securities and Exchange Commission (SEC) accused Singapore-based Terraform Labs and its CEO Kwon Do-hyung of defrauding investors via “a multi-billion dollar crypto asset securities scheme.”…[continue reading]

2) According To A Web3 Legal Expert, Ripple Has A “Three-Year Head Start” In The SEC Litigation

It is anticipated that the current legal dispute between the United States Securities and Exchange Commission (SEC) and Ripple will have a lasting impact on the future of the cryptocurrency sector…[continue reading]

3) All UK Crypto ATM Companies Are Illegal, Declares The FCA

Less than two months have passed since Elliptic, a blockchain analytics startup, published a report predicting crypto regulations for this year. As global regulators tighten their grip on the business, the company predicts that crypto-related punishments will climb in 2023…[continue reading]

4) India Prohibits Crypto Advertising During The Women’s Premier League Cricket Tournament

The Board of Control for Cricket has instructed Women’s Premier League clubs to refrain from advertising cryptocurrency-related items. The Board of Cricket Control in India (BCCI) has prohibited crypto-related advertising during its most recent women’s competition…[continue reading]

5) New EU Banking Regulation Identifies Cryptocurrency The Highest Risk Score

New EU Banking Regulation Assigns Cryptocurrency the Highest Risk Score EU senators to propose in a new banking bill draught that, until December 2024, banks give cryptocurrency the maximum risk weight of 1,250%…[continue reading]

6) India Is Considering Crypto And Regulation With The G20, According To The Finance Minister

Finance Minister Nirmala Sitharaman said that while India continues its one-year leadership of the Group of 20 (G20), it is addressing cryptocurrencies and regulation with the group’s members…[continue reading]

7) UAE’s Central Bank Will Issue CBDCs And Stimulate The Development Of Digital Assets

Among other projects, the Central Bank of the United Arab Emirates (CBUAE) intends to develop a central bank digital currency (CBDC) as part of its attempts to become a financial and digital payment centre. The measures are part of the Sunday-launched Financial Infrastructure Transformation (FIT) program, which seeks to help the local financial services industry via a number of initiatives…[continue reading]