The recent introduction of the Property (Digital Assets, etc.) Bill by the Law Commission of the United Kingdom Parliament marks a significant milestone in the realm of property law. This groundbreaking legislation seeks to recognize digital assets such as crypto, non-fungible tokens (NFTs), and carbon credits as personal property under British law. This move is
Regulation
SEC Commissioner Hester Peirce has been vocal about her concerns regarding the SEC’s Staff Accounting Bulletin No. 121 (SAB 121). In a recent speech by SEC Chief Accountant Paul Munter, it was reiterated that the Commission’s stance on SAB 121 has not wavered. Despite the increasing attention on the regulation, the SEC staff maintains that
In a groundbreaking move, the US Securities and Exchange Commission (SEC) imposed a staggering $4.68 billion in fines against crypto companies in 2024. This marked the most aggressive regulatory year in the agency’s history, with the total fines levied since 2013 amounting to $7.42 billion. The significant increase in fines in 2024, accounting for 63%
The Digital Chamber (TDC) is facing significant challenges as it calls on Congress to pass legislation that would exempt certain non-fungible tokens (NFTs) from federal securities laws. The recent enforcement actions by the Securities and Exchange Commission (SEC) have raised concerns in the digital asset industry, particularly with the issuance of a Wells notice to
In a surprising turn of events, North Carolina’s lawmakers have overturned Governor Roy Cooper’s veto on a bill that would have prevented the state from implementing a central bank digital currency (CBDC). The Republican-controlled Senate approved House Bill 690 with a 27–17 vote, surpassing the 60% threshold needed to override the governor’s rejection. This decision
In a recent development, the Federal Reserve issued a cease and desist order to United Texas Bank (UTB) on Aug. 29, demanding it to halt the offering of cryptocurrency services. This action came after a thorough examination carried out by the Federal Reserve Bank of Dallas and the Texas Department of Banking earlier in May
Recently, it was revealed that Vice President Kamala Harris’s campaign is utilizing Coinbase Commerce to accept cryptocurrency donations. This decision has sparked a conversation around the impact of cryptocurrency donations on political campaigns. Coinbase, a prominent player in the cryptocurrency industry, has been a significant donor to the Political Action Committee (PAC) Fairshake. With donations
Recently, Robinhood’s crypto division agreed to pay a $3.9 million fine to settle a California investigation into its past practices. The settlement was announced by California Attorney General Rob Bonta, who highlighted the issues that led to this fine. Robinhood Crypto had prevented users from withdrawing their digital assets for nearly four years, from 2018
Recently, the US Securities and Exchange Commission (SEC) charged and settled with hedge fund Galois Capital Management LLC over a private fund managed by the firm that primarily invested in crypto. This statement was published on Sept. 3. The SEC charges are related to Galois Capital allegedly failing to comply with client asset safeguarding requirements,
US Securities and Exchange Commission (SEC) Commissioner Mark T. Uyeda recently addressed the need for specialized S-1 registration forms specifically tailored for digital asset securities. Speaking at the Korea Blockchain Week 2024 event on Sept. 3, Uyeda emphasized the importance of updating the SEC’s regulatory tools to better address the unique features of digital assets.