The Chairman of the Commodity Futures Trading Commission (CFTC), Rostin Behnam, recently addressed the Senate Committee on Appropriations regarding the agency’s capacity to take on additional responsibilities in the crypto space. Behnam confidently stated that the CFTC is well-equipped to handle new crypto commodities within its jurisdiction. He emphasized that there is a regulatory gap
Regulation
In the wake of a $4.5 billion settlement with the SEC, Terraform Labs CEO Chris Amani announced that Terra will transition into a community project as the company prepares to wind down its operations. Amani emphasized the importance of the community taking ownership of the chain moving forward. He noted that certain teams and developers
The Zimbabwean government has taken a proactive step in regulating the virtual asset industry by initiating a comprehensive study. According to a report by the Zimbabwe Mail on June 12, a committee has been set up to gather data from crypto companies operating within the country. The primary objective of this study is to gain
The digital landscape has seen a surge in the use of cryptocurrencies, which have brought about unique challenges for law enforcement agencies. The EU Innovation Hub for Internal Security recently released a report highlighting the impact of cryptocurrencies on law enforcement efforts. The report emphasizes the difficulties in tracking and recovering illicit digital assets that
DTCC Digital Assets global head and managing director Nadine Chakar recently testified before the House Financial Services Subcommittee on Digital Assets, championing the benefits of tokenization. She emphasized the potential for tokenizing real-world assets to transform the US financial markets. In her testimony, Chakar showcased DTCC’s role in advancing the financial industry through digital securities
SEC chair Gary Gensler recently discussed the potential timeline for spot Ethereum ETF launches, highlighting that it largely depends on how quickly applicants respond to the regulator’s questions and comments on reasons for approvals. Gensler mentioned that the firms are “self-motivated” to address SEC comments and can determine their responsiveness accordingly. This suggests that the
The current Chief Investment Officer (CIO) at Bitwise, Matt Hougan, has recently pointed out that the market is not fully grasping the significance of the changing attitude of Washington towards cryptocurrencies. In a memo dated June 4, Hougan mentioned that there has been a notable shift in the US political landscape regarding crypto in recent
The upcoming House Appropriation budget may have significant implications for the US Securities and Exchange Commission’s (SEC) ability to implement Staff Accounting Bulletin 121 (SAB 121). According to FOX Business reporter Eleanor Terrett, the bill includes a policy rider that would prohibit the SEC from using appropriated funds to enforce the rule. This move is
The CEO of Coinbase, Brian Armstrong, recently emphasized the critical need for regulatory clarity within the crypto industry. In a blog post titled “How to get regulatory clarity for crypto,” Armstrong stressed the importance of supporting pro-crypto political candidates and voting out anti-crypto incumbents. He highlighted the significant investment Coinbase has made in policy efforts
President Joe Biden recently made headlines by vetoing H.J. Res. 109, a resolution aimed at overturning the SEC’s controversial SAB 121 rule. In his explanation for the veto, Biden emphasized that SAB 121 reflects the technical expertise of SEC staff and plays a crucial role in protecting the public. He expressed concerns that overturning the