An upcoming House Appropriation budget could prevent the US SEC from implementing its controversial Staff Accounting Bulletin 121 (SAB 121). FOX Business reporter Eleanor Terrett, who reported the news on June 4, said the bill will prohibit the SEC from using appropriated funds to implement the rule. Appropriations allow agencies to incur obligations and make […]
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The former FTX CEO spent roughly a week at the Federal Transfer Center in Oklahoma City, with many speculating authorities planned to send him to a California prison.
US President Joe Biden vetoed H.J. Res. 109, which aimed to overturn the of the SEC’s controversial SAB 121 rule, on May 31. Biden wrote that SAB 121 represents the “considered technical” views of SEC staff. He added that the resolution would constrain the SEC’s ability to set guardrails and address future issues and risks […]
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Under Secretary Brian Nelson discusses the risks and national security challenges posed by crypto mixers, emphasizing the need for transparency.
The post US Treasury distinguishes between privacy and obfuscation in crypto mixers appeared first on Crypto Briefing.
DLC.Link CEO Aki Balogh tells The Agenda how DeFi on Bitcoin will unlock BTC’s potential for collateral, yield farming and more.
Hong Kong's SFC announces on-site compliance checks on crypto firms after the June 1 licensing deadline, focusing on client asset protection and KYC processes, as the number of license applicants decreases.
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The US District Court for the District of Utah has dismissed the SEC’s case against DEBT Box without prejudice and imposed over $1.8 million in fines against the watchdog for bad faith conduct. The fines, which come in the form of attorney fees and costs, follow sanctions against the SEC for misrepresentations made to obtain […]
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The European Securities and Markets Authority (ESMA) has been scrutinizing Maximum Extractable Value (MEV) as a clear example of illegal market abuse under its proposed technical standards for the Markets in Crypto-Assets (MiCA) regulation. Patrick Hansen, a prominent commentator on crypto regulations, recently highlighted this development on Twitter, noting the significant implications for the crypto […]
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Since his arrest in March 2023, Do Kwon has been in Montenegro. He could be extradited to either his native South Korea or the United States to face fraud charges.
The SEC approved Ethereum ETFs through delegated authority, a decision that could significantly impact the crypto market. Unlike the Bitcoin ETF approval in January, which required an SEC vote, this approval did not undergo a public voting process by commissioners. This method of approval, as noted by James Seyffart, means any commissioner, such as Crenshaw, […]
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While many in the industry cheered the passing of the Financial Innovation and Technology for the 21st Century Act yesterday, many other raised criticisms and concerns.
According to a recent Bernstein report, the approval of a spot Ethereum (ETH) exchange-traded fund (ETF) in the US may establish a precedent for classifying Solana (SOL) as a commodity. The classification of cryptocurrencies as either securities or commodities holds significant implications. Commodity classification facilitates ETF applications and approvals, while security classification subjects assets to […]
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The US House of Representatives passed the Financial Innovation and Technology for the 21st Century Act (FIT21) on May 22. In all, 279 representatives voted yes, 136 voted no, and 15 abstained from voting on the proposed crypto legislation. The bill received bipartisan support but mainly received Republican votes, with 208 of 217 Republican representatives […]
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With the SEC expected to decide by May 23 whether to approve or disapprove a spot Ether exchange-traded fund, three asset managers amended their 19b-4 filings.
The US House of Representatives has approved the Financial Innovation and Technology for the 21st Century Act (FIT21), a wide-reaching crypto regulation bill, with significant bipartisan support despite opposition from the White House and SEC.
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The former FTX CEO has been housed in a cell at the Metropolitan Detention Center in Brooklyn since a judge revoked his bail in August 2023.
Biden opposes the House crypto bill but won't veto it. The White House cites a lack of investor protections in the FIT21 Act.
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HK's privacy watchdog ordered Worldcoin to delete all collected iris biometric data, citing privacy law violations and lack of transparency.
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Uniswap Labs has issued a defiant response to the SEC’s Wells notice, asserting the agency’s attempts to regulate DeFi are misguided and legally unsound. The company said in a May 20 blog post that it is confident it will come out victorious if forced into litigation by the SEC. Uniswap Labs said: “We’re confident that […]
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Representative Wiley Nickel called on Democrats and Republicans to support the bill to stop the SEC from “turning cryptocurrency regulation into a political football.”
The commodities regulator has been clear about the dangers of regulating a burgeoning industry through enforcement actions.
Officials reportedly contacted the Nasdaq, the Chicago Board Options Exchange and the New York Stock Exchange to make updates and changes to existing spot Ether ETF applications.
The attorney general’s office filed a lawsuit against Genesis in October 2023 for allegedly defrauding investors through the Gemini Earn program.
Court approves Genesis Global's plan to distribute $3 billion to creditors, rejecting Digital Currency Group's objections.
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Kraken could drop EU support for Tether’s USDT stablecoin, Bloomberg reported on May 17. Kraken Global Head of Regulatory Strategy Marcus Hughes said the company is planning for circumstances in which it is “not tenable to list specific tokens such as USDT.” The EU’s regulatory landscape is set to change when the EU’s Markets in […]
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Oklahoma has become the first US state to legally protect the right to self-custody Bitcoin after passing a new bill. The newly signed legislation ensures that residents can hold, control, and use digital assets without state interference. Republican Governor Kevin Stitt signed the ‘Bitcoin Rights’ bill — HB3594 — into law earlier this week. The legislation […]
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US Senate's vote to revoke SEC's crypto rule now hinges on Biden's veto, with potential major implications for the crypto sector.
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The bill aims to introduce a licensing scheme for crypto firms, which will be handled by the CMB and bring the firms under the regulator's scope.