The recent conclusion of the US Securities and Exchange Commission (SEC) investigation into stablecoin issuer Paxos has brought relief to the company and raised questions about the regulator’s enforcement actions. The investigation, which began over a year ago with a Wells notice, was centered around the Binance USD (BUSD) stablecoin. The SEC initially suggested a
Regulation
The recent Senate Agriculture Committee hearing on digital commodities oversight shed light on the Commodity Futures Trading Commission’s (CFTC) willingness to take on a more prominent role in regulating the crypto market. CFTC chair Rostin Behnam expressed openness to the idea of serving as the primary regulator for digital assets, signaling a potential shift in
In a recent interview with Bloomberg, Bitwise’s Chief Compliance Officer, Katherine Dowling, expressed optimism about the approval of spot Ethereum ETFs. She mentioned that these ETFs are “close to the finish line” and indicated that discussions with the SEC have been productive. Dowling highlighted the SEC’s receptiveness to conversations regarding new products, signaling a positive
The Republican Party has taken a noteworthy step by including Bitcoin and cryptocurrencies in their official platform for the upcoming 2024 election. This move reflects a shift within the party towards embracing digital assets and blockchain technology. Former President Trump’s recent statements have played a role in shaping the party’s stance on crypto, signaling a
Messari, a prominent US-based crypto market intelligence platform, has recently made a bold declaration of independence from the Securities and Exchange Commission (SEC). The CEO of Messari, Ryan Selkis, openly criticized the SEC and its Chair Gary Gensler, accusing them of corruption and illegitimacy. This move signifies a pivotal moment in the relationship between the
Former Solicitor General Donald B. Verrilli, who now serves as Grayscale Investments’ senior legal strategist, raised concerns about US regulators intentionally stifling the crypto industry through debanking practices. In a joint amicus brief filed with Paul Clement, Verrilli highlighted bipartisan worries regarding the regulatory environment for digital assets. The brief, filed on behalf of Custodia
Recently, the European Banking Authority (EBA) made significant updates to its Travel Rule guidelines, now including crypto service providers and intermediaries. This move is part of the EU’s ongoing efforts to combat money laundering and terrorist financing. Starting from December 30, 2024, all crypto exchanges operating within the European Union will be required to adhere
As the cryptocurrency market continues to evolve, analysts are closely monitoring the potential launch of spot Ethereum ETFs. Bloomberg ETF analyst James Seyffart recently stated that he believes these ETFs could launch around July 15, pending the application process settling. However, Seyffart also mentioned that he has low confidence in these predictions, highlighting the uncertainty
The Securities and Exchange Commission (SEC) of Nigeria has recently unveiled new regulatory incubation guidelines for Virtual Asset Service Providers (VASPs). These guidelines aim to ensure closer regulatory oversight and support for local market development in response to the challenges faced by the country’s fiat currency due to the increasing adoption of cryptocurrencies. One of
South Korea’s Financial Supervisory Service (FSS) is taking steps to tighten oversight of crypto trading platforms under its jurisdiction in order to eliminate fraudulent transactions. In a recent notice, the regulator announced that local exchanges will be required to establish a “continuous monitoring system for unfair transactions” and report any “abnormal transactions” through a dedicated