In recent years, the concept of election prediction markets has gained traction, offering a novel way for individuals to engage with the electoral process by speculating on political outcomes. Advocates argue that these markets can enhance democratic engagement, providing a real-time barometer for public sentiment. However, as these markets gain popularity, the need for regulatory
Regulation
Cryptocurrency has become the focal point of both investment and technological innovation, yet the realm of crypto custody remains fraught with complexities that set it apart from more traditional custody services. As digital assets gain traction, their security becomes paramount, drawing in hackers and fraudsters eager to exploit vulnerabilities. In this article, we will explore
Recent events have sparked a significant investigation spearheaded by lawmakers into potential biases within the Securities and Exchange Commission (SEC). On September 11, a joint letter directed at SEC Chairman Gary Gensler set forth alarming allegations regarding politically charged hiring practices within the agency. This inquiry, led by prominent figures such as Judiciary Committee Chairman
In a significant turn of events within the cryptocurrency trading landscape, eToro has announced the suspension of trading for most digital assets on its platform. This decision comes in the wake of a settlement with the US Securities and Exchange Commission (SEC) that stipulated a $1.5 million penalty due to alleged violations related to the
The recent introduction of the Property (Digital Assets, etc.) Bill by the Law Commission of the United Kingdom (UK) Parliament has significant implications for the legal recognition of digital holdings. This proposed legislation aims to recognize crypto, non-fungible tokens (NFTs), and carbon credits as personal property under British law. This marks a historic moment in
The Commodity Futures Trading Commission (CFTC) has recently announced a collaborative effort with federal and private organizations to address the increasing prevalence of crypto scams, specifically the rise of “pig butchering” schemes. These scams have resulted in staggering losses totaling billions of dollars, largely due to a lack of awareness and understanding among consumers. The
The Digital Chamber (TDC) has recently made a bold call to Congress, urging the passage of legislation that would categorize certain non-fungible tokens (NFTs) as consumer goods rather than securities. This move comes in response to the Securities and Exchange Commission’s (SEC) increased scrutiny of NFT platforms, including a Wells notice issued to OpenSea, a
The ongoing concerns raised by US Securities and Exchange Commission (SEC) Commissioner Hester Peirce regarding the SEC’s Staff Accounting Bulletin No. 121 (SAB 121) have stirred up a debate in the crypto industry. In a recent speech by SEC Chief Accountant Paul Munter on September 9, he reiterated the Commission’s unchanged stance on SAB 121.
In 2024, the US Securities and Exchange Commission (SEC) made headlines by imposing a staggering $4.68 billion in fines against various cryptocurrency companies. This amount represented the most aggressive regulatory efforts by the agency in its history, according to a report by Social Capital Markets. The total fines imposed by the SEC since 2013 amounted
Robinhood’s crypto division recently agreed to pay a $3.9 million fine to settle a California investigation into its past practices. The investigation found that users were prevented from withdrawing their digital assets from 2018 to 2022. This lack of transparency and accessibility raises concerns about the company’s handling of user funds. California Attorney General Rob
The recent charges and settlement between the US Securities and Exchange Commission (SEC) and Galois Capital Management LLC shed light on the importance of compliance with client asset safeguarding requirements. The SEC found that Galois Capital failed to comply with the Custody Rule provisions, which ultimately exposed investors to significant risks. By not securing its
US Securities and Exchange Commission (SEC) Commissioner Mark T. Uyeda recently called for the development of specialized S-1 registration forms specifically tailored for digital asset securities. This plea was made during his speech at the Korea Blockchain Week 2024 event on September 3. Uyeda emphasized the need for the SEC to update its regulatory tools
The US Securities and Exchange Commission (SEC) recently expressed concerns regarding the proposed repayment strategy in the ongoing FTX bankruptcy case. The plan, which involves repaying creditors through stablecoins or other digital assets, has led the SEC to reserve the right to challenge these transactions under federal securities laws. This move has raised eyebrows and
Pavel Durov, the CEO of Telegram, has recently been released from prison but has been placed under judicial supervision with specific conditions. These conditions include the obligation to deposit a €5 million bond, along with a requirement to remain within French territory and report to the police station twice a week. This comes after the