Binance is significantly expanding its compliance team by 34% by the end of 2024, aiming to strengthen its regulatory efforts. The company plans to have over 1,000 compliance professionals, with 645 full-time staff members, to enhance its ability to meet global regulatory standards. This move comes after Binance increased its spending on compliance by 36% …
According to a Bloomberg report, the Keir Starmer-led Labour government is set to unveil comprehensive cryptocurrency regulations in early 2025. The announcement is expected at London’s City & Financial Global Tokenisation Summit. Crypto Regulations Are Coming To The UK A senior minister has confirmed that to align with digital asset regulatory developments in Europe and […]
According to the latest D.O.G.E report, the U.S. government’s financial crisis deepened in FY2023, with a staggering $6.16 trillion in spending against only $4.47 trillion in revenue, leading to an ever-widening deficit. The last time the government ran a budget surplus was back in 2001, and now there is a strong call to reverse this …
The UK is gearing up to present its crypto-regulatory framework in 2025. The announcement, made during the City & Financial Global Tokenisation Summit in London, underscores the Labour government’s commitment to balancing innovation with safety in the digital asset space. Step in to know what it means for you! What’s Changing for Stablecoins and Staking? …
With preparations for Gary Gensler’s exit in January 2025, will it mark the end of the XRP lawsuit? XRP’s price reacted to this news and pumped over 20% and XRP is currently trading at $1.52. With the rate it got up, it seems a bigger target is on the way if the Ripple vs SEC …
After Gary Gensler’s exit news on January 20 next year, another Democratic commissioner on the Securities and Exchange Commission is all set to leave the US SEC. Commissioner Jaime Lizárraga To Exit As per a recent filing, Commissioner Jaime Lizárraga will officially resign from the US SEC by January 17, which could give Republicans a …
Dan Gallagher, chief legal officer at Robinhood, who was a leading candidate considered for the position of SEC Chair, is not going to spearhead the U.S. SEC. He made a statement to CNBC that he has made it clear to relevant people that he is not interested in being considered for the role. Notably, Former …
In the latest development, after Gary Gensler, the US SEC Commissioner Jaime Lizárraga is leaving on January 17, which could give Republicans a head start in redirecting the regulator’s policies. Lizárraga conveyed that he was leaving because his wife has been suffering from a serious illness. Notably, Lizárraga’s departure leaves the Securities and Exchange Commission …
In a latest development today, the Blockchain Association, on behalf of its nearly 100 members, submitted a letter to President-elect Trump and the new Congress outlining crypto priorities to consider in the first 100 days. The letter noted that following a historic election, the crypto industry is hopeful and optimistic for a friendlier regulatory environment …
In a recent conversation with FOX Business, Senator Cynthia Lummis shared her views on buying Bitcoin to reduce US debt. Lummis remarked that Bitcoin serves as a long-term store of value. She expressed that it should be included in reserves as a strategic asset alongside gold and oil. The senator proposed that the U.S. should …
The Crypto market has faced a decade of crypto manipulation and with Trump’s win the market is cheering with a hope that the new regulations will be crypto-friendly and earlier cases will be dismissed. Katrina Paglia, Pantera’s chief legal officer, predicts that many ongoing securities lawsuits against crypto companies in the U.S. will “quietly go …
WisdomTree, a leading asset management firm, has launched its latest cryptocurrency exchange-traded product (ETP), the WisdomTree Physical XRP (XRPW), on major European exchanges, including Deutsche Börse Xetra, Six Swiss Exchange, and Euronext. With a competitive management expense ratio of 0.50%, this ETP offers one of Europe’s most cost-efficient options for XRP exposure. The product is …
Gary Gensler is officially stepping down as SEC Chair, and this has sent shockwaves through the crypto world, especially for XRP holders. His resignation, effective January 20, 2025, comes after years of tension between the SEC and Ripple over the XRP lawsuit. With Gensler out, many in the XRP community are celebrating, as they see …
Gary Gensler, the Chair of the U.S. Securities and Exchange Commission, will step down on January 20 when President-elect Donald Trump’s administration takes office. His tenure, which included conflicts with the crypto industry, will come to an end, the agency announced on Thursday. “I thank President Biden for entrusting me with this incredible responsibility. The …
Chill Guy, once just a viral TikTok meme, has exploded into a crypto phenomenon. A Solana-based meme coin called CHILLGUY has seen a massive surge, reaching a market cap of $455 million just days after its launch. How did a simple meme turn into a multi-million-dollar coin? Interestingly, Phillip Banks, the creator of the viral …
The Biden era was the worst for Ripple Labs. During the Democrat presidency the company faced numerous challenges, including tougher legal battles against the US regulators like the US SEC. The victory of Republican leader Donald Trump, who presented himself as a crypto saviour during the election campaign, has influenced the entire crypto sector, especially …
Judge Sun Jie of the People’s Court of Songjiang District in Shanghai clarified that cryptocurrency is considered a legal commodity with property rights in China. This opinion came from a 2017 business dispute, where a company failed to issue a token as promised, leading to a partial refund. Judge Sun confirmed that individuals can legally …
The U.S. Securities and Exchange Commission (SEC) announced on Nov. 20 that it has distributed $4.6 million in restitution to investors affected by the 2017 ICO of BitClave, an Ethereum-based search engine. This payout is part of a settlement the company reached with the SEC in 2020 after being charged for failing to register its …
According to a latest Bloomberg report, President-elect Donald Trump is considering creating a new White House post dedicated entirely to cryptocurrency policy. The role would be the first-ever crypto-specific White House post which highlights the crypto industry’s prominent role in the Trump administration. Trump’s transition team is considering current and former CFTC officials to chair …
Recently, Japan’s Prime Minister, Shigeru Ishiba promised to cut taxes on crypto in his economic stimulus package. As per the latest reports, Ishiba received approval for his economic package after vowing to include annual tax reform proposals from the opposition party, the “Democratic Party for the People (DPP)”. Moreover, the main parties also agreed to …
A California federal court has ruled that Lido DAO, the decentralized body behind the Lido staking protocol, operates as a general partnership, making its participants liable under state laws. The decision rejected Lido’s argument of being a non-legal entity, stating that its governance structure and token-holder involvement qualify it as a profit-driven partnership. This ruling …
Rumble Inc., a YouTube alternative known for its appeal to far-right audiences, is exploring adding Bitcoin to its balance sheet. The tweet, which gained strong support from the crypto community, caused Rumble’s stock (RUM) to surge by 9%, reaching $6.20 in after-hours trading on November 19. Earlier, shares had been trading lower but quickly bounced …
The race for the next SEC Chair has some big names, including Brian Brooks, Paul Atkins and Dan Gallagher. However, there’s one name that attorney John Deaton believes should not be considered: Bob Stebbins. Deaton said that Bob Stebbins previously served as the Office of General Counsel under SEC Chairman Jay Clayton. His role involved …
Trump's choice for commerce secretary is a billionaire whose Wall Street firm has ties to Tether.
The competition for the role of Treasury Secretary in Donald Trump’s administration is intensifying. Though Howard Lutnick, CEO of Cantor Fitzgerald, emerged as top contenders, Trump picked him for commerce chief. Trump Picks Tether’s Wall Street Banker Donald Trump, the incoming U.S. President, prefers Howard Lutnick, the CEO of Cantor Fitzgerald and a big supporter …
In a latest X post, the pro-XRP lawyer, John Deaton has expressed concerns over the outdated regulatory framework applied by the US SEC in response to Michael Saylor’s interview. He shared that the SEC should be focused on ‘fraud, pump and dump schemes and the bad guys.’ The Need For Modernised Regulatory Framework He pointed out …
In the latest development, Paxos, the leading regulated blockchain and tokenization infrastructure platform, has announced that it has agreed to acquire Membrane Finance (Membrane), an Electronic Money Institution (EMI) based and licensed in Finland. The acquisition is subject to regulatory approval. Upon completion of the acquisition, Paxos will be a fully licensed EMI in Finland …
The Ripple-SEC saga seems far from over, but the possibility of a settlement or reduced fine could be on the table, as discussed by legal experts. Attorney Jeremy Hogan recently discussed an interesting aspect of Ripple’s ongoing legal battle with the SEC, particularly regarding the possibility of a settlement. In an interaction with John Deaton …
Amid the market’s bullish run, Taiwanese financial authorities vowed to review tax regulations to tackle the country’s crypto tax evasion issue. However, local reports noted the regulators might face difficulties implementing an effective digital assets-related tax framework. Related Reading: Elon Musk, RFK Jr. Support Pro-Bitcoin Howard Lutnick For Treasury Secretary Taiwanese Authorities To Review Tax […]
In a significant setback for Kraken, a California District Court judge has denied the exchange’s attempt to appeal a previous decision allowing the SEC’s lawsuit to proceed. Judge William Orrick ruled on Nov. 18 that Kraken’s motion for interlocutory appeal would only delay litigation without advancing its resolution. The SEC alleges that Kraken sold unregistered …