Regulation

On October 23, Consensys, a leading company in the blockchain and Web3 industry, made a strong appeal for clearer digital asset regulations in the United States. This comes amid its ongoing lawsuit against the U.S. Securities and Exchange Commission (SEC), which Consensys accuses of regulatory overreach that hampers innovation. Clarissa Watson, the firm’s Editorial Lead, […]

A man in the UK, Olumide Osunkoya, has admitted to charges related to the unlawful operation of cryptocurrency ATMs, making him the first individual convicted for such offenses in the country, according to a report by James Hunt for The Block. The press release by the Financial Conduct Authority (FCA), which is the UK’s main […]

The U.S. Treasury Department has formally withdrawn a 2020 proposal to impose know-your-customer (KYC) requirements on non-custodial crypto wallets, as reported by Nikhilesh De for CoinDesk. This decision, finalized on August 19, concludes a years-long debate that originated in the last days of the Trump administration. In December 2020, the Financial Crimes Enforcement Network (FinCEN), […]

Hong Kong’s efforts to establish itself as a leading digital asset hub are encountering significant challenges as uncertainty looms over whether 11 crypto exchanges will secure full licenses. According to a report by Kiuyan Wong for Bloomberg, these exchanges previously received initial approvals but are now under scrutiny by the city’s Securities and Futures Commission […]

Japan’s financial landscape is grappling with the question of spot crypto exchange-traded funds (ETFs). The nation’s top financial watchdog is reportedly advocating for a cautious approach, setting Japan apart from other major economies. According to a report by Taiga Uranaka and Nao Sano for Bloomberg, Hideki Ito, who heads Japan’s Financial Services Agency (FSA), expressed concerns about […]

Earlier this week, in an interview on CNBC’s “Power Lunch,” former U.S. SEC Chair Jay Clayton talked about the intricacies of crypto regulation, providing valuable insights into the SEC’s stance on digital assets and their development. The conversation covered a range of topics, from the political dynamics affecting the SEC chair to the emergence and […]

On 27 July 2024, former U.S. President Donald Trump gave a highly-anticipated speech at the Bitcoin 2024 conference in Nashville, United States. Here are a few highlights from his pro-crypto speech: He says there’s never been anything like Bitcoin. He says Bitcoin is not just a marvel of technology but a miracle of cooperation and […]

On July 17, 2024, Ripple Labs CEO Brad Garlinghouse appeared on Bloomberg Television’s “Bloomberg The Close” to discuss how the 2024 US presidential election could influence the cryptocurrency market. The conversation explored various aspects, from regulatory clarity to international competition in the crypto space. Cryptocurrency and Partisan Politics Garlinghouse began by emphasizing that the issue […]

On 9 July 2024, Fabio Panetta, the Governor of the Bank of Italy, addressed the Italian Banking Association Annual Meeting, sharing his critical views on crypto-assets and the regulatory landscape surrounding them. Panetta provided an in-depth analysis of the risks associated with crypto-assets, distinguishing between stablecoins and unbacked crypto-assets and highlighting the implications of the […]

As South Korea prepares to enforce the Virtual Asset User Protection Act on 19 July 2024, financial authorities are expected to release new “Virtual Currency Trading Guidelines.” This development has stirred significant anxiety among cryptocurrency investors, particularly concerning the potential delisting of altcoins. According to a recent report by South Korea’s Business Point, the Financial […]

On June 25, Gary Gensler, the Chair of the U.S. Securities and Exchange Commission (SEC), spoke with Bloomberg’s Annmarie Horden at the Bloomberg Invest Summit. During the conversation, Gensler addressed the intersection of cryptocurrency and securities laws, the political implications of crypto regulation, and his ongoing priorities at the SEC. Crypto Securities and SEC Regulations […]

On June 20, 2024, Tyler Winklevoss, Co-Founder and CEO of cryptocurrency exchange Gemini, published a lengthy post on X detailing why he plans to vote for Donald Trump in the November 2024 U.S. presidential election. Winklevoss’s statement focuses heavily on what he perceives as the Biden Administration’s hostile stance towards the cryptocurrency industry. Winklevoss begins […]

During a conversation with CNBC corrspondenant MacKenzie Sigalos at the recent Consensus 2024 conference (held May 29-31, 2024, in Auston, Texas) Galaxy Digital CEO Mike Novogratz shared his thoughts on the evolving landscape of institutional crypto, political shifts affecting the industry, and the future of digital assets. Seismic Shifts in Crypto Politics Novogratz highlighted the […]

The U.S. Department of Treasury has released a 29-page report titled “Illicit Finance Risk Assessment of Non-Fungible Tokens,” highlighting potential risks associated with NFTs. The assessment reveals that while NFTs and their platforms are seldom used for activities such as proliferation financing, they are highly susceptible to fraud and scams. Traditional fraudulent schemes involving NFTs […]

According to Bloomberg, the Financial Conduct Authority (FCA), the UK’s financial regulator, has approved the first cryptocurrency exchange-traded products (ETPs), marking a milestone in the UK’s approach to digital asset investment. An ETP is a type of security traded on stock exchanges, similar to individual stocks. ETPs are designed to track the performance of a […]

On May 21, 2024, Michael Novogratz, the founder and CEO of Galaxy Digital, appeared on CNBC’s “Squawk Box” to share his insights on the recent price movements in cryptocurrencies, the Biden administration’s interaction with the SEC regarding cryptocurrencies, and the broader implications for the industry. Novogratz started by highlighting the significant rise in Ethereum’s price […]

In a recent video titled “Humility,” Charles Hoskinson, Co-Founder and CEO of IOG (Input Output Global), shared his insights on humility, the current political landscape in the United States, and its implications for the cryptocurrency industry. This blog post delves into Hoskinson’s key points, especially his views on former President Donald Trump and current President […]

Billionaire investor and entrepreneur Mark Cuban has recently unleashed a series of scathing posts on the social media platform X (formerly Twitter), targeting the U.S. Securities and Exchange Commission (SEC) and its chairman, Gary Gensler, for their approach to regulating the cryptocurrency industry. Cuban’s criticism highlights the growing frustration among crypto enthusiasts and investors who […]

In a recent interview with Wired, Joseph Lubin, co-founder of Ethereum and CEO of Consensys, shed light on his ongoing legal battle with the U.S. Securities and Exchange Commission (SEC). Consensys is a leading blockchain software technology company with a core focus on the Ethereum ecosystem. They develop a comprehensive suite of tools, products, and […]

Blockchain Association is a trade association based in Washington, D.C. that represents various stakeholders in the cryptocurrency and blockchain industry, including technology startups, investors, and developers. The organization aims to advocate for policy and regulatory solutions that foster innovation and ensure the sustainability of the crypto and blockchain sector. Their efforts include lobbying for favorable […]

On April 22, Ripple Labs filed a rebuttal to the Securities and Exchange Commission’s (SEC) push for nearly $2 billion in penalties. The move comes as the latest development in the ongoing court case between the two parties, which has been raging since December 2020. The SEC has accused Ripple of raising $1.3 billion through […]

In a recent appearance on Fox Business’s “Mornings with Maria,” hosted by Maria Bartiromo, Ripple CEO Brad Garlinghouse provided insightful commentary on the current state and the future of the cryptocurrency market. Garlinghouse opened the discussion with an overview of the cryptocurrency market’s performance, noting a significant uptick in the past six months, with Bitcoin […]

Leading officials in U.S. financial regulation, including Federal Reserve Chair Jerome Powell, Treasury Secretary Janet Yellen, and Deputy Treasury Secretary Wally Adeyemo, have recently advocated for Congressional regulation of stablecoins. On April 17, U.S. Senators Kirsten Gillibrand (D-NY) and Cynthia Lummis (R-WY) introduced the bipartisan Lummis-Gillibrand Payment Stablecoin Act, aimed at creating a regulatory framework […]

On 8 April 2024, U.S. SEC Commissioner Hester M. Peirce delivered a thought-provoking speech at the Association of Private Enterprise Education conference. Titled “Pourquoi Pas? Securities Regulation and the American Dream,” her remarks in Washington D.C. captured a critical discourse on the balance between regulation and innovation in the pursuit of the American entrepreneurial spirit. […]

In a video update on April 16, Charles Hoskinson, Co-Founder and CEO of IOG, delved deeply into the consequences and realities of cryptocurrency regulation. Broadcasting from Colorado, Hoskinson articulated his concerns and perspectives, particularly emphasizing the impact of U.S. regulatory approaches on the cryptocurrency industry. Hoskinson began his discussion by referencing a recent speech by […]

On April 9, during an appearance on Bloomberg TV, Dante Disparte, the Head of Global Policy at Circle, shared his insights on the Biden administration’s approach to managing the potential risks associated with cryptocurrency, particularly focusing on stablecoins and the broader implications for illicit financing. During his conversation with Bloomberg Crypto co-hosts Sonali Basak and […]

The U.S. Attorney’s Office for the Southern District of New York, in conjunction with Homeland Security Investigations (HSI), has announced the unsealing of an indictment against global cryptocurrency exchange KuCoin and two of its founders, Chun Gan (also known as “Michael”) and Ke Tang (also known as “Eric”), for serious violations of U.S. financial regulations. […]

The cryptocurrency mining sector has achieved a significant victory, marking a pivotal moment in its ongoing dialogue with U.S. regulatory bodies. The Chamber of Digital Commerce is an organization that operates as a trade association in the United States, focusing on promoting the interests and development of the blockchain and digital asset industries. It aims […]

Gemini Trust Company, LLC, a key player in the digital asset exchange space, has reached a pivotal agreement with the New York State Department of Financial Services (DFS). This agreement marks a crucial step toward resolving the financial predicaments faced by customers of Gemini’s Earn Program, following a tumultuous period marked by alleged fraud and […]

On February 20, prominent American lawyer John Deaton announced his candidacy for the United States Senate seat in Massachusetts. His campaign video, titled “No Fear, Never Give Up,” offers a deeply personal look into Deaton’s life, motivations, and the principles guiding his political aspirations. Elizabeth Warren is a prominent American politician who has served as […]

In a revealing conversation with David Westin on Bloomberg TV’s “Wall Street Week,” Gary Gensler, Chair of the U.S. Securities and Exchange Commission (SEC), talked about the intricate challenges of regulating Bitcoin and the broader cryptocurrency market. The Nuanced Approach to Bitcoin ETFs Gensler recounted the SEC’s journey with Bitcoin-related products, particularly highlighting the approval […]

On January 15, 2024, Jeremy Allaire, CEO of Circle, which is best known as the issuer of fiat-backed stablecoin USD Coin (USDC), spoke with CNBC at the World Economic Forum in Davos, Switzerland. Stablecoins and Blockchain Technology Allaire began by addressing the progress in blockchain technology, likening it to the post-dot-com era where, despite market […]

Jerry Brito, the Executive Director of Coin Center, addressed the cryptocurrency community on January 2, 2024, with a critical update on a new law affecting crypto transactions. Brito is the Executive Director of Coin Center, a leading non-profit research and advocacy center focused on public policy issues facing cryptocurrency and decentralized computing technologies like Bitcoin […]

In a recent post on social media platform X dated 28 December 2023, Mark Cuban, the influential entrepreneur and television personality, expressed his views on the inadequacy of existing financial regulations in dealing with the complexities of cryptocurrency. Cuban highlighted the limitations of the Howey and Reves tests, long-standing legal benchmarks for defining securities, underscoring […]

In a recent opinion piece for CoinDesk, Michael Selig, Counsel at New York City law firm Willkie Farr & Gallagher LLP, expressed optimism about the direction of cryptocurrency regulation in the United States for 2024. His positive outlook is based on several developments and trends observed in the regulatory landscape. Here’s an overview of the […]

Recent updates on the Digital Asset Anti-Money Laundering Act of 2022, a bill sponsored by Senator Elizabeth Warren (D-MA) on 15 December 2022 that proposes stringent banking regulations on crypto technology in the U.S., reveal substantial backing and involvement from key banking institutions and industry groups. The bill mandates specific federal financial agencies to formulate […]

Earlier today, Coinbase emphasized the significant impact of the upcoming U.S. elections on the future of cryptocurrency. The company’s blog post outlines the importance of electing pro-crypto candidates and enacting supportive policies. Coinbase asserts that the current U.S. approach to cryptocurrency regulation, which it describes as “regulation by enforcement,” lacks clarity and hinders the sector’s […]

In December 2020, the U.S. Securities and Exchange Commission (SEC) initiated a lawsuit against Ripple Labs (and two of its executives, Bradley Garlinghouse and Christian A. Larsen), which centered around the allegation that Ripple conducted an unregistered securities offering through its sale of XRP, a digital asset. This case has been a significant point of […]

Yesterday, during a conversation with Bloomberg Television reporter Kailey Leinz, U.S. SEC Chair Gary Gensler discussed the implementation of new mandates for hedge funds aimed at reducing risks in the broader financial system. He also touched upon the challenges in the crypto market, highlighting the issue of noncompliance affecting many investors. Here are the key […]

Yesterday, John Reed Stark, a former Chief of the SEC’s Office of Internet Enforcement and currently the president of Stark Consulting, shared his thoughts on the significant legal challenges facing Binance. Stark’s analysis, posted on social media platform X on 9 December 2023, dives into the implications of recent U.S. Department of Justice (DOJ) filings […]

Andrea Enria, Chair of the Supervisory Board of the European Central Bank (ECB), during a recent interview, shared his perspectives on the evolving dynamics in the financial technology sector, particularly focusing on FinTech firms, the digital euro, and cryptocurrencies. The European Central Bank (ECB) is the central bank for the Eurozone, the group of European […]

The Monetary Authority of Singapore (MAS) has recently concluded its response to the consultation paper on proposed regulations for cryptocurrency service providers, marking a significant step in establishing a regulatory framework for the crypto industry in Singapore. According to a report by Amitoj Singh for CoinDesk, MAS has reiterated its stance on discouraging speculative cryptocurrency […]

Yesterday, in an interview with Bloomberg TV’s Kailey Leinz and Sonali Basak, SEC Commissioner Hester Peirce discussed various aspects of digital asset regulation and internal dynamics within the U.S. SEC. On Regulatory Framework and Binance Case Peirce emphasized the importance of proactively building a regulatory framework that allows companies to operate legally in the U.S. […]

On 21 Nov 2023, Coinbase Co-Founder and CEO Brian Armstrong spoke to CNBC’s Kate Rooney in the aftermath of Binance pleading guilty and agreeing to “pay over $4 billion to resolve the Justice Department’s investigation into violations related to the Bank Secrecy Act (BSA), failure to register as a money transmitting business, and the International […]

According to a report published by Chainalysis on October 23, North America stands as the largest cryptocurrency market they have studied, with an estimated transaction volume of $1.2 trillion between July 2022 and June 2023. This accounts for 24.4% of global cryptocurrency transactions during that period. The United States leads the pack, ranking first globally, […]

Heath Tarbert, who previously served as the Chairman of the Commodity Futures Trading Commission (CFTC) and is now the Chief Legal Officer at Circle, has penned an opinion piece for CoinDesk emphasizing the need for immediate legislative action on stablecoins. Tarbert draws a parallel between the financial crisis instigated by the collapse of Lehman Brothers […]

Major cryptocurrency companies such as Coinbase, Revolut, and Binance have swiftly modified their mobile and web platforms to align with the United Kingdom’s Financial Conduct Authority’s (FCA) newly implemented marketing regulations. These changes became effective on 8 October 2023. The Financial Conduct Authority (FCA) is the UK’s primary regulatory body for financial markets and firms. Established in […]

On 3 October 2023, Jay Clayton, the former chair of the U.S. Securities and Exchange Commission (SEC), appeared on CNBC’s ‘Squawk Box’ to discuss the criminal trial of Sam Bankman-Fried (SBF), the former CEO of the now-defunct crypto exchange FTX. Clayton offered insights into the government’s case, the role of witnesses, and the state of […]

Kara Calvert, the Head of US Policy at Coinbase, recently appeared on “Bloomberg Technology” with Ed Ludlow and Sonali Basak to discuss the pressing issues surrounding cryptocurrency regulation in the United States. The conversation focused on the challenges and opportunities that the crypto industry faces, particularly in the context of the SEC’s busy agenda and […]

Earlier today, Helen Boyd, a key figure at the Financial Conduct Authority (FCA) participated in a Fireside Chat with Alissa Ostrove, Chief of Staff at CCData, during CCDAS, which is the UK’s premier annual digital asset conference that is organized by CCDtata, an FCA-authorized benchmark administrator and a global leader in providing institutional-grade digital asset […]

A UK Member of Parliament has recently said that the cryptocurrency space is like a “new industrial revolution” that’s “here to stay” during a recent conversation on future-proofing the digital asset industry, in which she noted the UK has been moving to become a crypto hub. During a panel on CCData’s CCDAS conference in London, […]

On 27 September 2023, SEC Chair Gary Gensler appeared before the U.S. House Committee on Financial Services, where he was questioned by U.S. Congressman Patrick McHenry (R-NC-10). The exchange was intense, covering a range of topics from the classification of Bitcoin to the SEC’s compliance with document requests. In his prepared testimony for this hearing, […]

Coinbase has initiated a comprehensive campaign aimed at mobilizing the 52 million Americans who own cryptocurrency. The campaign, known as the Stand with Crypto Alliance, is set to run for 14 months and is structured around three core elements. Mobilizing Crypto Advocates Through Coinbase: The first aspect of the campaign involves using the Coinbase platform […]

The U.S. Securities and Exchange Commission (SEC) is sending a clear message to the cryptocurrency industry: increased regulatory scrutiny is coming. According to a recent report by CoinDesk, David Hirsch has indicated that the agency is actively monitoring several businesses in the crypto space. These businesses include both centralized exchanges like Coinbase and Binance, as […]

Jeremy Allaire, the CEO of Circle, believes that the United States is on the verge of implementing legislation that will regulate stablecoins, providing much-needed clarity for the cryptocurrency industry. During an interview with journalist Laura Shin on episode 543 of the Unchained Podcast, Allaire expressed optimism that the ongoing discussions around stablecoin regulation will ultimately […]

The information in this article is based on a recently released guide — titled “Crypto Travel Rule in United Kingdom by the Financial Conduct Authority (FCA)” — from RegTech startup Notabene. The United Kingdom has proactively engaged with the crypto industry, partnering with experts and regulators to establish an evidence-based regulatory framework. The Financial Conduct […]

On 28 August 2023, the U.S. Securities and Exchange Commission (SEC) announced that it had charged Impact Theory, LLC, a Los Angeles-based media and entertainment company, for conducting an unregistered offering of crypto asset securities in the form of non-fungible tokens (NFTs). The company had sold nearly $30 million worth of NFTs, promising buyers that the tokens […]

On 28 August 2023, the U.S. Securities and Exchange Commission (SEC) announced that it had charged Impact Theory, LLC, a Los Angeles-based media and entertainment company, for conducting an unregistered offering of crypto asset securities in the form of non-fungible tokens (NFTs). Through this offering, the company managed to raise around $30 million from hundreds […]

On 25 August 2023, the U.S. Department of the Treasury, in collaboration with the Internal Revenue Service (IRS), unveiled draft regulations aimed at tightening the reporting requirements for digital asset transactions. This move is part of the Biden-Harris Administration’s broader strategy to plug tax compliance loopholes and mitigate the risks of tax evasion in the […]

The U.S. Department of the Treasury, in collaboration with the Internal Revenue Service (IRS), has released a set of draft regulations targeting the reporting of digital asset transactions. This initiative is part of a larger agenda by the Biden-Harris Administration to close existing gaps in tax compliance and to address the perceived risks of tax […]