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In a rapidly evolving landscape, the United Arab Emirates (UAE) has emerged as a frontrunner in nurturing crypto innovation while prioritizing regulatory frameworks. Multibank.io CEO Zak Taher shared exclusive insights, emphasizing the delicate balance between compliance and fostering innovation in the burgeoning digital asset realm.

https://thecurrencyanalytics.com/crypto-exchanges/uae-emerges-as-a-global-hub-for-crypto-innovation-amid-evolving-regulations-84586.php

Binance US, an American affiliate of the world's largest cryptocurrency exchange, has hired a new chief compliance officer.

https://blockworks.co/news/binance-hires-new-cco

The US Treasury Department and Internal Revenue Service on Tuesday announced that businesses do not have to report the receipt of digital assets — not yet, at least.

https://blockworks.co/news/irs-treasury-crypto-reporting-requirements-2

The regulator faces a growing number of calls from the U.S. House and state attorneys general to back off the crypto industry.

https://decrypt.co/219828/sec-faces-mounting-pressure-from-lawmakers-to-back-off-crypto-industry

Shapeshift founder and long-time Bitcoin advocate Erik Voorhees believes that decentralized finance (DeFi) has already solved the issue of regulatory clarity barring people from possessing or trading a majority of cryptocurrencies.

https://cryptoslate.com/crypto-og-erik-voorhees-believes-defi-has-already-solved-the-regulatory-clarity-problem-for-altcoins/

Bitcoin and Ethereum continued their downward spiral with uncertainty expected to continue to weigh on the market. The largest coin by market cap, Bitcoin, lost 1.3% to US$26,432, while Ethereum shed 1.9% to US$1,839.

https://www.proactiveinvestors.co.uk/companies/news/1017330/cryptocurrencies-continue-downward-spiral-following-sec-charges-1017330.html?SNAPI

Prime Trust will have the opportunity to show why a petition from the Nevada Financial Institutions Division should not be permanently granted in an Aug. 22 hearing.

https://cointelegraph.com/news/nevada-court-approves-regulator-petition-prime-trust-receivership

A little less than six years after Namibia outlawed the exchange of virtual currencies, the country this week passed a crypto bill laying out a local path forward for the industry.

https://blockworks.co/news/namibia-new-crypto-law

The Republic of Namibia pivots on its crypto stance by introducing a law regulating the digital asset industry, ending the country's total ban on cryptocurrencies. Last week, the Namibian government signed its virtual assets bill into law after outlawing cryptocurrencies almost six years ago.

https://cryptodaily.co.uk/2023/07/namibia-introduces-exchange-regulation-crypto-no-longer-outlawed

In a seismic shift that has left the tech and financial world astir, Gary Gensler, the formidable Chairman of the Securities and Exchange Commission (SEC), is orchestrating a remarkable redirection of regulatory focus. This startling move involves veering away from the intense scrutiny cast upon the cryptocurrency realm and, instead, shining a bright regulatory spotlight on the realm of Artificial Intelligence (AI).

https://thecurrencyanalytics.com/regulations/secs-shocking-pivot-from-cryptos-to-ai-what-it-means-for-the-futur-62540.php

The Federal Reserve says it will expand how it oversees the crypto activities of US regulated banks.

https://blockworks.co/news/federal-reserve-crypto-oversight

The SEC on Thursday reached a settlement with the now-bankrupt Bittrex and its former chief executive, with the company agreeing to pay the regulator $24 million.

https://blockworks.co/news/bittrex-sec-settlement

Oliver Linch, the CEO of Bittrex Global, has stated that the cryptocurrency exchange had no chance to discuss a potential enforcement action with the U.S. Securities and Exchange Commission (SEC). The SEC charged Bittrex in April for operating as an unregistered exchange, broker, and clearing agency.

https://www.benzinga.com/markets/cryptocurrency/23/05/32134546/bittrex-global-ceo-calls-out-sec-says-there-was-precisely-zero-communication-with-departme?SNAPI

The Department of Justice has instructed lawmakers with FTX-linked political donations to hand over the cash, and at least some Congressional campaigns have complied.

https://blockworks.co/news/doj-claws-back-ftx-donations