Julia Leung Fung-yee said incorporating virtual assets into the regulatory system was crucial after FTX’s bankruptcy.

Legal representatives of the media outlets have reportedly argued that FTX is not entitled to a “novel and sweeping exception” just because its customers use cryptocurrency.

According to Fabio Panetta, crypto volatility and aspects of blockchain technology made digital assets only suitable for gambling.

Wirex cards may stop working in the European Economic Area, but funds held in the account are safe, the company said.

The regulator said Binance must cease “with immediate effect” all crypto-related services in Belgium after being unable to provide sufficient information on its non-EEA companies.

The United States Supreme Court ruled in favor of Coinbase in its first-ever opinion on a cryptocurrency case on June 23.

The latest regulatory approval for the crypto exchange comes within weeks of acquiring a major payment institution license from regulators in Singapore.

This development comes amid a global regulatory crackdown on Binance, which is facing investigations in multiple countries.

“While USD withdrawal remains fully operational on the platform today, we expect our banking partners to discontinue that service in the near future,” said Binance.US.

The EU Cryptopay cards may stop working soon as the Bank of Lithuania has revoked the EMI license of the app’s provider, UAB PayrNet.