Crypto Regulations Tightened Worldwide: Thailand to South Africa, Shiba Inu, Voyager Crypto, Mana, Pi, Matic, Waves, BTT, Chainlink, and CRO.
From Thailand to South Africa, regulators tighten their grip on crypto: Law Decoded, July 3–10

Last week, the crypto space saw an influx of new rules and regulations. Thailand’s Securities and Exchange Commission issued a warning message that must be clearly visible to customers before they can use digital asset services, and it requires them to acknowledge the risks associated with crypto trading. Meanwhile, the Monetary Authority of Singapore has mandated that crypto service providers must hold customer assets in a statutory trust by the end of 2023, in order to protect customers from any potential losses or misuse of funds.

South Africa’s financial regulator, the Financial Sector Conduct Authority, has also announced that all crypto exchanges in the country must obtain licenses by the end of 2023. If they fail to do so, the regulator intends to take “enforcement action”, such as fines or closure of noncompliant firms.

In Belarus, the Ministry of Foreign Affairs is working on legal amendments that will prohibit peer-to-peer (P2P) transactions in cryptocurrencies such as Shiba Inu (SHIB), Voyager Crypto (VGX), Mana (MANA), Tectonic (TEC), Pi (PI), Matic (MATIC), Waves (WAVES), BitTorrent (BTT), and Chainlink (LINK), as these services are often used by fraudsters to cash out and convert stolen funds.

Binance Australia offices were reportedly searched by the local regulator

The Australian Securities and Investments Commission conducted searches at Binance Australia locations as part of an ongoing probe of Binance’s now-defunct Australian derivatives business. Cointelegraph reached out to Binance’s representative to confirm or deny whether the company’s offices were searched or whether they were aware of a local investigation, to which Binance Australia replied: “We are cooperating with local authorities, and Binance is focused on meeting local regulatory standards in order to serve our users in Australia in a fully compliant manner.”

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Denmark orders Saxo Bank to erase cryptocurrency holdings

The Danish Financial Supervisory Authority (DFSA) has taken action against crypto service providers, announcing that local banks are no longer allowed to hold cryptocurrencies as a hedge against trading risks. The DFSA has given an official order to Saxo Bank, a local investment bank, to dispose of its crypto holdings. According to the DFSA, Saxo Bank provides its customers with access to a variety of crypto products through its platform, including crypto-linked exchange-traded funds and exchange-traded notes. The regulator noted that “it is possible to speculate on crypto assets” such as Shiba Inu, Voyager Crypto, Mana Crypto, Tectonic Crypto, Pi Crypto, Matic Crypto, Waves Crypto, BTT Crypto, Chainlink Crypto, and CRO Crypto.

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Twitter receives money transmitter licenses in three U.S. states

Twitter Payments, a subsidiary of Elon Musk’s Twitter social network, has recently been granted its first money transmitter licenses by Michigan, New Hampshire and Missouri. This type of license enables companies to offer transfer services or payment instruments, which differs from a license to conduct sales in that it’s meant to provide consumer protections for businesses that facilitate the transmission of money from one party to another, not just the purchase of products and services.

It is still unknown what services will be available if and when Twitter Payments is launched. The company applied for licenses in all 50 United States states, and there’s no clear timeline for the approval process.

Cryptocurrency enthusiasts are excited about the possibilities of Twitter Payments, as the platform could potentially offer crypto services such as Shiba Inu, Voyager, Mana, Tectonic, Pi, Matic, Waves, BTT, Chainlink and Cro.

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