Ju’s push for “smart regulation” in Web3 aims to curb scams, build trust, and ensure responsible growth, sparking community debate.
Cantor Fitzgerald CEO Howard Lutnick advocates for Bitcoin to be classified as a commodity, citing its similarities to gold and oil.
Cantor Fitzgerald CEO Howard Lutnick advocates for Bitcoin to be classified as a commodity, citing its similarities to gold and oil.
Hong Kong regulators will align their crypto OTC derivatives reporting with ESMA's standards, including the use of Digital Token Identifiers.
In a recent interview with CNBC, Gary Gensler, Chair of the US Securities and Exchange Commission (SEC), addressed ongoing enforcement actions against key players in the cryptocurrency industry. His remarks come amid rising discontent among investors and participants who feel the regulatory landscape has become increasingly hostile. Regulatory Oversight Essential For Innovation? Gensler began by […]
Gary Gensler reminded a conference on Treasury bonds about a proposed rule change that would impact DeFi, too.
US Republican lawmakers from both chambers of Congress have taken a significant step in advocating for a more favorable regulatory environment for Bitcoin (BTC) and crypto asset custodians. In a letter addressed to US Securities and Exchange Commission (SEC) Chair Gary Gensler, a coalition of pro-crypto lawmakers, including House Financial Services Chair Patrick McHenry and […]
Caroline Ellison, the former CEO of Alameda Research and key witness in the prosecution of her ex-partner Sam Bankman-Fried (SBF), was sentenced to two years in prison on Tuesday for her part in the FTX fraud. The sentencing took place on Tuesday in a New York federal court, where Judge Lewis Kaplan also ordered Ellison […]
Kosovo’s Financial Intelligence Unit partners with the Council of Europe to improve crypto crime tracing skills and strengthen regulations on digital currencies.
Australia is taking considerable measures to regulate the cryptocurrency business, with the goal of improving consumer safety and reducing fraudulent activity. Related Reading: Digital Assets On The Table: Kamala Harris Promises To Invest In America’s Future The Australian Securities and Investments Commission (ASIC) has revealed intentions to compel cryptocurrency enterprises, including exchanges, to seek financial […]
The securities regulator claims the token is undercollateralized and its backing funds are in a risky overseas investment.
Upbit’s privacy policy update involves transferring user data to AWS servers in the US for improved service reliability and compliance with local regulations.
Hong Kong emerged as the fastest-growing Eastern Asian country in terms of global crypto adoption, with 40% of the region’s value received in stablecoins.
A recent report from asset manager and crypto exchange-traded fund (ETF) issuer VanEck, led by Matthew Sigel and Nathan Frankovitz, examines Bitcoin’s fundamentals, adoption trends, and emerging volatility in the wake of the Federal Reserve’s interest rate cuts and the upcoming US presidential election. Shift In Bitcoin Adoption The report highlights that Bitcoin’s price has […]
Need to know what happened in crypto today? Here is the latest news on daily trends and events impacting Bitcoin price, blockchain, DeFi, NFTs, Web3 and crypto regulation.
According to a popular pro-crypto attorney and Senate candidate, the SEC's overreach into the crypto industry has cost retail investors over $15 billion in losses.
The US Securities and Exchange Commission (SEC) Chair Gary Gensler, known for his skeptical stance towards the crypto industry, is under investigation by Republican lawmakers. The investigation, led by Representatives Jim Jordan, Patrick McHenry, and James Comer, centers on allegations of political favoritism in the SEC’s hiring practices. SEC Hiring Scandal In the letter addressed […]
As disclosed in a recent court filing, Caroline Ellison, the former CEO of Alameda Research, is preparing for her sentencing hearing two years after the collapse of the FTX exchange, once run by her former partner, Sam Bankman-Fried. However, the filing reveals that Ellison is requesting permission to redact sensitive information from her forthcoming sentencing […]
Dallas-based United Texas Bank is the latest crypto-friendly bank to face a cease and desist order from the US Federal Reserve, according to a press release issued on September 4, 2024. Federal Reserve Keeping A Close Eye On Bank’s Crypto Business The US Federal Reserve has identified United Texas bank as having “significant deficiencies” in […]
Signaling a potential shift from previous skeptical stance, vice president Kamala Harris is reportedly utilizing Coinbase’s Commerce platform to accept crypto donations for her campaign. Alesia Haas, Coinbase’s Chief Financial Officer, disclosed this information during a discussion at Citi’s 2024 Global TMT Conference in New York, as reported by Fortune. A Shift In Democratic Attitude […]
The US Securities and Exchange Commission (SEC) has announced a settlement with troubled crypto hedge fund Galois Capital. The SEC charged Galois with failing to meet critical requirements for safeguarding customer assets, including those the agency stated were “securities”. Related Reading: Bullish Alert For Dogecoin: TD Indicator Flashes Buy Signal As $0.10 Target Looms FTX Costs Galois Capital Half Of Managed Assets According to the SEC’s announcement on Tuesday, Galois Capital’s missteps began in July 2022 when the firm allegedly did not ensure that certain crypto assets held by its private fund were maintained with a qualified custodian, violating the Investment Advisers Act’s Custody Rule. Instead, the agency claims that the crypto company kept these assets in online trading accounts on platforms like FTX Trading, which were not recognized as “qualified custodians.” The fallout from this decision was significant. Following the collapse of FTX in November 2022, approximately half of the assets under Galois’s management were lost. Settlement Reached The SEC also alleged on Tuesday’s announcement that Galois misled its investors about the notice required for redemptions. Some investors were told that they had to provide at least five business days’ notice before the end of the month. In contrast, others were allowed to redeem their investments with less notice, which the SEC said “created an uneven playing field among fund participants.” Corey Schuster, co-chief of the SEC Enforcement Division’s Asset Management Unit, said: By failing to comply with Custody Rule provisions, Galois Capital exposed investors to risks that fund assets, including crypto assets, could be lost, misused, or misappropriated. Related Reading: Stacks (STX) Drops 15% Despite Continuous On-Chain Developments – Details As part of the settlement, Galois Capital has agreed to pay a civil penalty of $225,000, which will be distributed to investors who suffered losses due to the firm’s actions. The company has also consented to an order requiring it to cease any further violations of the Advisers Act, while neither admitting nor denying the SEC’s findings. Featured image from DALL-E, chart from TradingView.com
OpenSea faces SEC scrutiny as the debate over NFTs as unregistered securities heats up, causing a stir in the crypto world.
In response to the Biden administration’s intensified scrutiny on the crypto industry, Custodia Bank, a notable Wyoming-based financial institution catering to crypto businesses, has recently undergone a significant restructuring. As reported by FOX Business on Thursday, Custodia Bank has made the decision to lay off nine of its 36 employees, a move aimed at conserving […]
As the crypto market approaches a pivotal moment with the upcoming US election in November, former President Donald Trump continues to voice his support with a recent post and the details of his new crypto venture, “World Liberty Financial.” Trump Vows To Make The US A Crypto Capital In a recent video release, Trump articulated […]
OpenSea, one of the largest marketplaces for non-fungible tokens (NFTs), found itself at the center of controversy after the Securities and Exchange Commission (SEC) issued a Wells Notice early Wednesday over the alleged classification of NFTs as “securities.” This prompted reactions from prominent figures in the crypto industry, US senators, and market experts, all of […]
On August 26, 2024, New Zealand’s Minister of Revenue, Simon Watts, introduced a new bill proposal into the House that could have major implications for the cryptocurrency ecosystem for the island nation. OECD Crypto Reporting Framework To Be Implemented Titled Taxation (Annual Rates for 2024–25, Emergency Response, and Remedial Measures), the new bill seeks to […]
In a series of scathing social media posts, Charles Hoskinson, the founder of the Cardano (ADA) blockchain, has sharply criticized the Democratic Party’s stance on the crypto industry, particularly the actions and perceived intentions of Vice President Kamala Harris. Hoskinson’s criticism stems from a perceived lack of clear, tangible support for the crypto ecosystem from […]
In the ongoing legal saga involving key figures of the defunct crypto exchange FTX, Ryan Salame, a former executive at the exchange, has filed a motion to challenge his current plea agreement with US authorities. Prosecutors Alleged Breach Of Agreement As reported by CNBC, Salame, who previously pleaded guilty to charges related to campaign finance and […]
In June, the SEC updated its regulations to better oversee cryptocurrency platforms and exchanges and improve monitoring of digital asset trading.
While crypto has been at the eye of the storm in the race for the White House, a notable absence in the recent unveiling of the Democratic Party’s latest platform ahead of the Democratic National Convention has discouraged the industry. The document, unveiled amidst heightened anticipation, notably overlooks any mention of Bitcoin or digital assets, […]