Latest news with #MarketsinCrypto-AssetsRegulation
Cision Canada
2 days ago
- Business
- Cision Canada
Bybit Secures MiCAR License in Austria, Opens European Headquarters in Vienna with Strategic Expansion Plan
VIENNA, May 29, 2025 /CNW/ -- Bybit, the world's second-largest cryptocurrency exchange by trading volume, has received its Markets in Crypto-Assets Regulation (MiCAR) license from the Austrian Financial Market Authority (FMA), signifying a pivotal moment in its European expansion. With this new license, Bybit can now operate as a fully compliant crypto-asset services provider and passport its regulated and localized crypto products and services to nearly 500 million Europeans in 29 EEA (European Economic Area) member states through its EEA hub, which is based in Austria. Alongside this regulatory milestone, Bybit has also established its official European headquarters in Vienna, Austria. The MiCAR license underscores Bybit's unwavering commitment to meeting the highest regulatory standards in Europe, including crucial safeguards that are designed to enhance transparency, prevent illicit activities, and protect consumers within the European Union's digital finance ecosystem. "Securing the MiCAR license in Austria is a testament to our compliance-first approach at Bybit," stated Ben Zhou, co-founder and CEO of Bybit. "We are actively collaborating with regulators and pursuing licenses globally to ensure our users can access our innovative platform with the highest levels of regulatory and compliance assurance." To support its upcoming European expansion, Bybit is making a substantial investment in Austria, with plans to hire over 100 professionals in Vienna as it provides more localized and regulated services to users. "Obtaining the MiCAR license demonstrates our commitment to compliance and transparency, in line with Europe's high regulatory standards," said Mazurka Zeng, Chief Executive Officer of Bybit Europe. "Vienna is now the home of Bybit Europe, and we're proud to contribute to Austria's forward-looking financial environment by investing in talent and innovation. Beyond this, we are dedicated to fostering a strong local crypto community and, through the Blockchain for Good Alliance (BGA), we will extend our resources to work closely with universities across the region, cultivating the next generation of blockchain innovators and exploring impactful real-world applications of the technology," Mazurka said. #Bybit / #TheCryptoArk / #MiCAR About Bybit Bybit is the world's second-largest crypto-asset exchange platform, providing over 70 million users globally access to its innovative crypto investment products and services. Bybit EU is the newly established EU headquarter and will serve the EEA clients on the dedicated Bybit EU platform.
Forbes
20-05-2025
- Business
- Forbes
What The SEC's Crypto Roundtable Series Mean For Digital Assets
The SEC Crypto Task Force (CTF) is hosting a five-part roundtable series on digital assets, decentralized finance (DeFi), and the evolving role of AI in these industries. While the initiative may appear procedural, it signals a subtle but important shift: the SEC may finally be open to more transparent engagement, rather than relying almost exclusively on enforcement. For over a decade, U.S. digital asset regulation has been driven primarily through enforcement actions. The SEC has consistently asserted that most tokens fall under its jurisdiction as securities—but has done so mostly through enforcement, not formal rulemaking. This approach has created legal uncertainty, market fragmentation, and increasing frustration among innovators and investors alike. Meanwhile, other jurisdictions—such as the EU and Hong Kong—have introduced comprehensive regulatory frameworks for crypto. The EU's Markets in Crypto-Assets Regulation (MiCA) and Hong Kong's Virtual Asset Trading Platforms (VASP) regime provide relatively clear rules, even if not everyone agrees with their substance. Against that backdrop, the U.S. has begun to look like a laggard, regulating via subpoenas and no-action letters rather than well-defined rules. The SEC's roundtable series appears to acknowledge that status quo may not be sustainable. WASHINGTON, DC - APRIL 25: The Securities and Exchange Commission headquarters is seen on April 25, ... More 2025 in Washington, DC. SEC held a roundtable with the SEC's Crypto Task Force that was titled 'Know Your Custodian: Key Considerations for Crypto Custody' in which they heard from officials working in Crypto. (Photo by) Led by Commissioner Hester Peirce, the CTF's mission is to 'help the Commission draw clear regulatory lines, provide realistic paths to registration, craft sensible disclosure frameworks, and deploy enforcement resources judiciously.' So far, the sessions have examined topics including securities classifications for digital assets, broker-dealer registration for crypto platforms, crypto custody, tokenization and DeFi. The format of the roundtables—public, agenda-driven, and inclusive of industry, academic, and regulatory voices—does represent a marked shift in tone. Historically, the crypto projects have received little practical guidance for novel technologies that don't fit into the traditional securities framework. That point came into sharp focus during the April 11 session, which asked whether crypto trading platforms—especially decentralized ones—can realistically comply with existing rules without fundamentally altering their structure. If regulation continues to demand conformity to outdated models, industry participants argue it could stifle innovation or drive platforms offshore. Participants in the CTF Roundtables noted more listening and a willingness from the SEC to engage on operational complexity—something that has been lacking in previous years. Adding to the urgency is the global regulatory landscape. Clearer frameworks abroad are drawing talent, capital, and innovation away from the U.S., while increasing pressure on domestic regulators to catch up. Meanwhile, digital assets are becoming more intertwined with AI infrastructure. AI is being used to automate governance, monitor compliance, and power data analysis across decentralized systems. This convergence creates new layers of risk and complexity that the SEC has not yet meaningfully addressed. Adapting rules for blockchain has been challenging enough—adding AI into the mix will demand even more sophistication. While these roundtables won't themselves resolve the key legal questions facing the crypto industry, they do serve a critical function: they publicly acknowledge the need for regulatory nuance and invite industry feedback on how to craft smarter frameworks. They offer the SEC a platform to hear directly from builders and operators—not just litigants—and allow for more open discussion of the friction between innovation and compliance. The next roundtable, set for June, will focus on DeFi and the American spirit—a topic that has attracted interest from both DeFi pioneers and traditional finance (TradFi) institutions. For industry participants, the roundtables offer more than just lip service. They may be the first step toward a regulatory environment that is more predictable, more transparent, and more compatible with the technologies shaping the future of finance.
Associated Press
02-05-2025
- Business
- Associated Press
Yocbit Releases Latest Data: Global Users Exceed 8 Million, Daily Trading Volume Steadily Surpasses $1.2 Billion, Accelerating Global Compliance Strategy
New York, May 02, 2025 (GLOBE NEWSWIRE) -- Leading global digital asset trading platform Yocbit has officially released its latest operational data, showcasing strong growth momentum in the global digital economy. As of April 2025, the number of registered users on the Yocbit platform has surpassed 8 million, with an average daily trading volume consistently exceeding $1.2 billion. The acceleration of Yocbit's global compliance strategy further solidifies its leading position in the international digital asset trading market. As a pioneer in compliance-driven development, Yocbit has successfully obtained a Money Services Business (MSB) license issued by the U.S. Department of the Treasury's Financial Crimes Enforcement Network (FinCEN), establishing its compliance status in the U.S. market. This achievement not only positions Yocbit as a recognized legitimate digital asset trading platform within the U.S. financial system but also lays a solid foundation for its expansion into European and global markets. Based in the U.S., Yocbit is simultaneously accelerating its market layout in Europe, actively responding to the compliance requirements of the EU's Markets in Crypto-Assets Regulation (MiCA) and applying for Crypto Asset Service Provider (CASP) licenses in Germany, France, Italy, and other countries. Meanwhile, Yocbit is building a global compliance operation network centered on the U.S., with Europe as a foothold, radiating into Asia, the Middle East, and Latin America, aiming to obtain formal financial regulatory approvals in over 10 countries and regions within the next 24 months. According to official data from Yocbit, the number of registered users has increased by 120% compared to the same period last year, with an active user ratio as high as 67%. Users from the U.S., Europe, Japan, South Korea, and the Middle East collectively account for over 78% of the user base. Currently, the number of global trading pairs supported by Yocbit has exceeded 450, covering major cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), and USDT stablecoin, and continually expanding into emerging fields like DeFi, GameFi, and RWA (Real World Assets). On the trading technology front, Yocbit's average daily spot trading volume reaches $1.2 billion, with peak daily trading volume surpassing $1.8 billion. The platform's self-developed matching engine supports concurrent processing of up to 120,000 transactions per second (TPS), with trading matching delays consistently below 10 milliseconds, leading the industry. In terms of security measures, Yocbit employs a multi-tiered cold wallet offline storage technology, with 98% of the platform's assets kept in cold storage. The platform has introduced an AI-driven risk control system that monitors trading activities in real-time around the clock. It enforces strict KYC (Know Your Customer) and AML (Anti-Money Laundering) compliance processes, collaborating with top global blockchain security firms such as Chainalysis and CipherTrace, and regularly undergoes third-party audits and penetration testing. Yocbit's International Compliance Director stated, 'Data not only proves growth but also reflects our compliance strength and global reach. By establishing a strong presence in the U.S., deepening our engagement in Europe, and looking globally, Yocbit is taking concrete steps to lead digital asset trading platforms toward legalization, standardization, and globalization.' To further serve global users, Yocbit plans to establish 10 international operation centers and add three localized customer service centers by the end of 2025, covering North America, Europe, Asia, and the Middle East, enhancing user experience and improving its global response system. Yocbit's CEO concluded, 'We firmly believe that only a platform built on compliance, powered by technology, and driven by a global strategy can truly stand at the forefront of the future digital economy. Yocbit will continue to expand its international footprint, continuously improve service quality and security levels, and create a trustworthy, robust, and sustainable new ecosystem for digital asset trading for global investors.' Media contact Contact: Timothy I. Hall Company Name: YocBit Website: Email: [email protected] Disclaimer: The information provided in this press release is not a solicitation for investment, nor is it intended as investment advice, financial advice, or trading advice. It is strongly recommended you practice due diligence, including consultation with a professional financial advisor, before investing in or trading cryptocurrency and securities. Timothy I. Hall YocBit Timothy (at)
RTHK
29-04-2025
- Business
- RTHK
UK government to regulate cryptocurrencies
UK government to regulate cryptocurrencies Around 12 percent of UK adults own or have owned cryptocurrencies. Photo: AFP The UK government published on Tuesday draft legislation aimed at regulating cryptocurrencies like bitcoin and ethereum, after the European Union introduced its own framework. "Crypto exchanges, dealers and agents will be brought into the regulatory perimeter – cracking down on bad actors while supporting legitimate innovation," the finance ministry said in a statement. "Crypto firms with UK customers will also have to meet clear standards on transparency, consumer protection, and operational resilience – just like firms in traditional finance," it added. The new regime comes after the introduction of the European Union's Markets in Crypto-Assets Regulation (MiCA), which came into force in December. But finance minister Rachel Reeves stressed that the UK was in talks with the United States on the issue, adding that "regulation must support business, not hold it back." Speaking at a fintech summit in London, Reeves said international cooperation on the sector was vital. She said she had discussed "continued US and UK engagement" with US Treasury Secretary Scott Bessent last week. This would include further dialogue at the UK-US financial regulatory working group in June "to support the use and responsible growth of digital assets." Around 12 percent of UK adults own or have owned cryptocurrencies, compared to just four percent in 2021. Last November, the UK Financial Conduct Authority (FCA) also announced that rules on a specific framework for cryptocurrencies would be published by 2026. At the same time, a broader financial services strategy will be unveiled on July 15, the government announced on Tuesday. (AFP)
Yahoo
05-02-2025
- Business
- Yahoo
BlackRock prepares to launch bitcoin exchange-traded product in Europe, source says
By Iain Withers LONDON (Reuters) - BlackRock is gearing up to launch a bitcoin exchange-traded product in Europe within weeks, a source familiar with the matter told Reuters, amid growing demand for exposure to cryptocurrencies from both money managers and consumers. The product will likely be domiciled in Switzerland, the source added. The Wall Street giant has incorporated a Zurich-based company focused on digital assets - iShares Digital Assets AG - in recent months, according to a regulatory filing seen by Reuters. BlackRock declined to comment. BlackRock was one of the first institutional investors to offer exchange-traded products to track the spot price of bitcoin after the U.S. Securities and Exchange Commission first approved them in January 2024. The SEC's move was a watershed moment for the asset class, boosting hopes in the crypto industry that cryptocurrencies would become more widely integrated in mainstream finance. BlackRock's main bitcoin-linked product IBIT has grown rapidly, amassing net assets of $57.5 billion as of Feb. 4, according to BlackRock's website. However, not all global investors can access the existing U.S.-domiciled products. Bloomberg was first to report on BlackRock's plans in Europe. While the U.S. crypto industry has celebrated Trump's election and his pledge to support the sector, crypto businesses in Europe are facing new, tougher regulation. The European Union's landmark crypto regulatory framework, known as the Markets in Crypto-Assets Regulation (MiCA) was introduced in early 2023 and is in the process of being rolled out.
