Regulatory

Australian Court Delivers Landmark Decision in Favor of Crypto Industry, Dismissing Regulatory Case Against Finder Wallet

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SYDNEY, Australia – In a significant victory for the crypto industry, an Australian Federal Court has made a “landmark” judgment that dismissed a case brought by the country’s market regulator against Finder Wallet. The case alleged that the Finder Earn product offering violated the Corporations Act by operating as a financial services business without the necessary license. However, the court ruled in favor of Finder Wallet, stating that the Australian Securities and Investment Commission (ASIC) failed to prove that the product was a debenture. As a result, ASIC has been ordered to pay the defendant’s … Read more

Supreme Court Case Threatens to Drastically Reduce Federal Regulatory Power in Environmental and Healthcare Sectors

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WASHINGTON, D.C. – The Supreme Court heard oral arguments on Jan. 17, 2024, in two cases that could have far-reaching implications for federal regulatory power. The cases, Loper Bright Enterprises vs. Raimondo and Relentless Inc. vs. Department of Commerce, focus on fisheries management but carry implications for broader federal enforcement of environmental and health care regulations. The central question in these cases is whether the Secretary of Commerce, through the National Marine Fisheries Service, has the authority to require commercial fishers to pay for onboard observers on fishing voyages, as mandated by the Magnuson-Stevens Fishery … Read more

South Korean Securities Firms’ Domestic Brokerage of US-Listed Bitcoin ETFs May Violate Regulatory Acts

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Seoul, South Korea’s financial regulator has raised concerns about domestic brokerage of a U.S.-listed bitcoin spot exchange-traded fund (ETF) by Korean securities firms. The Financial Supervisory Service (FSS) stated that such activity may potentially conflict with the country’s Virtual Asset User Protection Act and the Capital Markets Act. However, the FSS did not provide further details on these potential conflicts. In South Korea, recent discussions around cryptocurrency regulations have been taking place. Authorities have revealed plans to create regulations that would require public disclosure of officials’ cryptocurrency holdings. This move aims to promote transparency and … Read more