DeFi News Official TheBitTimes.com

Fintech firm SoFi declared it may be “forced to cease trading in certain types of assets” amid the US regulatory hurdle. In a recent filing with the United States Securities and Exchange Commission (SEC), SoFi outlined several regulatory risks related to crypto trading in its latest quarterly filing with the SEC. The company is waiting for changes to the regulator’s proposed crypto exchange classification rules. SoFi admits it could halt trading digital assets considered securities until it obtains additional regulatory permission. “The time and cost of obtaining such permission could be significant, and is not guaranteed.” SoFi’s filing to SEC Among the cryptocurrencies supported by SoFi are Bitcoin (BTC), Ethereum (ETH), Dogecoin (DOGE) and others. Solana (SOL) and Cardano (ADA) were removed from the platform in June as US regulators indicated they may be securities. SoFi is trying to expand its presence in the crypto market while ensurin...

The G20 has released a Presidency Note under India’s leadership, emphasizing the importance of consistent crypto regulation and guidance across different jurisdictions. Coordination and consistency Following the recommendations of the Financial Stability Board (FSB) and the commitment of the International Monetary Fund (IMF) to deliver a joint IMF-FSB synthesis paper as part of the comprehensive policies to help protect economies and investors in the crypto market, the G20 has released a Presidency Note to help steer the paper in a coordinated manner. Revealing that the G20 had previously guided on the topic, and despite the FSB and FATF recommendations and standards, there is still a “need for coordination in the consistent implementation of crypto regulations and guidance put in place by different jurisdictions.” You might also like: VASPs want to work with regulators after FTX collapse The body has hinted that the synthesis paper, expected at the end o...