The provincial government of Bali, Indonesia, has announced that they will no longer allow digital assets to be used for payments in hotels, restaurants, shopping centers, and other establishments.
In a new petition, representatives from Coinbase state that the SEC has already decided to reject its request and that they do not have the right to sue the regulator.
The SEC staff suggests that the trust’s underlying asset, Filecoin (FIL) cryptocurrency, conforms to the definition of an investment contract under federal law.
The SEC says the commission is not obligated to issue such regulations and Coinbase does not have the standing to sue the agency.
Binance’s Strategy Director Patrick Hillmann has expressed the US has been in a “confused situation” in regards to the regulation of the crypto market.
Hong Kong will take a stringent approach to regulating the digital asset sector.
A16z crypto has urged the UK to take a “more nuanced approach” to the regulation of digital assets as the country considers a new framework for both trading and lending.
