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Published time: 5/20/2025, 11:00:35 PM
India's Supreme Court Calls for Comprehensive Crypto Regulations
India's Supreme Court has directed regulatory bodies to develop comprehensive guidelines for cryptocurrency governance, emphasizing regulation over prohibition. The court noted the existing 30% tax on crypto gains as evidence of digital assets' integration into India's financial system. A multi-agency task force has been established to lead regulatory discussions and prepare policy frameworks. Industry projections suggest Web3 and crypto could contribute $1.1 trillion to India's GDP by 2032 with supportive regulations.
Further Reading:
India's Supreme Court Urges Centre to Establish Clear Cryptocurrency Regulations
Binance Faces Multiple Legal Challenges
Binance has filed motions to dismiss two separate lawsuits. The exchange challenges FTX's $1.76 billion lawsuit, arguing against U.S. court jurisdiction and contesting FTX's insolvency claims. In a separate class-action lawsuit, Binance seeks to force arbitration, citing a binding clause in its user agreement. The exchange faces allegations of securities law violations and misleading investors about asset safety and regulatory status.
Further Reading:
Binance Labels FTX Lawsuit as 'Legally Baseless'
Binance Seeks to Force Class-Action Lawsuit Members into Arbitration
SEC Faces Internal Criticism and Delays Crypto ETF Decisions
SEC Commissioner Caroline Crenshaw criticizes the agency's crypto regulatory approach, calling it 'regulatory Jenga'. Meanwhile, the SEC extends its review period for spot crypto ETF applications from 21Shares and Grayscale, moving beyond original decision deadlines. The agency is evaluating compliance with Exchange Act requirements regarding fraud prevention and investor protection. These developments highlight ongoing debates about appropriate oversight in the cryptocurrency sector.
Further Reading:
SEC Commissioner Warns of 'Regulatory Jenga' in Crypto Approach
SEC Delays Decisions on 21Shares XRP and Grayscale Dogecoin ETF Applications
Apex Group Acquires Majority Stake in Tokenization Firm Tokeny
Apex Group, managing over $3 trillion in assets, has acquired a majority stake in Tokeny, a firm specializing in tokenizing real-world assets on public blockchains. This acquisition reflects a growing trend in traditional finance exploring tokenization. Tokeny's infrastructure has been used to tokenize over $32 billion in assets. The move aims to offer clients comprehensive infrastructure for blockchain-based finance, combining smart contracts with Apex's traditional services.
Further Reading:
Apex Group Acquires Majority Stake in Tokenization Firm Tokeny
CoinMarketCap Introduces AI-Powered Token Analysis Tool
CoinMarketCap has launched an AI tool using Large Language Models to provide enhanced insights on tokens. The tool offers expanded information, explains price movements, tracks social sentiment, and delivers general information about tokens. It interfaces with a large language model, updating data periodically based on token size and price movements. This development aims to consolidate necessary information on a single platform, eliminating the need for users to gather data from multiple sources.
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