538:UK Gov't at a DeFi Crossroads::Coinbase expands internationally::Dubai reprimands Davies and Su
Overnighters,
Episode 538:
UK Gov't at a DeFi Crossroads
Coinbase’s International Expansion
Dubai Reprimands Kyle Davies and Su Zhu
and More
The TL;DL -
A16z Crypto has urged the UK to consider a "more nuanced approach" to the regulation of digital assets. The firm argues that a "one-size-fits-all" approach would not be consistent with the Treasury's core design principle of "same risk, same regulatory outcome." They also criticize the piecemeal approach taken by the U.S. SEC as far as regulating digital assets.
Tax advisors in the U.K. have welcomed proposed rules for decentralized finance (DeFi) lending and staking activities. The new framework proposes that capital gains tax charges for DeFi lending or staking be triggered only with some activities, not all transactions.
The founders of Three Arrows Capital (3AC), Kyle Davies and Su Zhu, have been reprimanded by Dubai's Virtual Assets Regulatory Authority (VARA) for operating an unregulated exchange. The reprimand also includes OPNX founders Mark Lamb and Sudhu Arumugam as well as Chief Executive Officer Leslie Lamb.
Coinbase has launched a new global derivatives platform, the Coinbase International Exchange (CIE). The CIE is a regulated platform for institutional investors to trade crypto derivatives. It is currently only available to institutional clients in eligible, non-U.S. jurisdictions.
Crypto lender Celsius Network is seeking to merge its UK and US entities. This comes as court filings allege that the distinction between the two was a "sham."
(5/2/2023)-Welcome back to the Crypto Overnighter. My name is Nikodemus, I’ll be your host as we take a nightly look at the crypto, NFT, and metaverse space and the industry surrounding it. And keep in mind, nothing in this show should ever be considered financial advice.
Email: nick@cryptoovernighter.com
Salem Friends of Felines: https://sfof.org/
Twitter: https://twitter.com/CryptoCorvus1
Patreon: https://www.patreon.com/user?u=67416221
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