The recent letter sent by the Digital Chamber to Vice President Kamala Harris emphasizes the need for a more forward-thinking approach towards digital assets and blockchain technology. This call for action comes after concerns were raised about the Democratic Party’s stance on these innovative technologies. The chamber highlighted the transformative benefits that digital assets can
Regulation
Brian Korshain, the CEO and founder of DAIM, expressed strong optimism about the potential impact of former President Donald Trump’s support for Bitcoin. He highlighted Trump’s rumored plan to make Bitcoin a strategic reserve asset for the US government, stating that while it is “possible,” it could be “very difficult to get it done.” Korshain
The Basel Committee on Banking Supervision has recently unveiled its final disclosure framework for banks’ crypto exposures, along with targeted amendments to its cryptoasset standards. These adjustments are designed to “tighten the criteria for certain stablecoins to receive preferential regulatory treatment.” Scheduled to take effect on January 1, 2026, these standards are the result of
Hong Kong’s financial regulators recently completed a consultation period regarding a licensing program for fiat-referenced stablecoin (FRS) providers. The consultation received a total of 108 submissions from key stakeholders in the industry. The comments came from a wide range of participants, including market players, industry associations, and professional organizations. This demonstrates a high level of
The landscape of crypto lobbying expenditures has undergone a seismic shift over the past seven years, as highlighted by a recent study conducted by Social Capital Markets. The research reveals an eye-popping 1,386% surge in lobbying spend by crypto companies, skyrocketing from a modest $2.72 million in 2017 to a staggering $40.42 million in 2023.
Recently, there has been a significant development in the cryptocurrency industry, with leading companies like Coinbase, Ripple, and Andreessen Horowitz (a16z) planning to send representatives to the Republican National Convention (RNC) and the Democratic National Convention (DNC). This move is part of their strategy to lobby for policies that are favorable to the industry. The
In a surprising move, South Korean lawmakers have put forth a bill to push back the implementation of the crypto gain tax until 2028. This decision comes amidst the current negative sentiments surrounding the crypto industry. The ruling political party cited the declining investment sentiment towards virtual assets as the primary reason for the extension.
In a recent social media outburst, X CTO and chairman Elon Musk accused the European Commission of offering an “illegal secret deal” to the social media platform. Musk claimed that the EC proposed that X should censor speech quietly to avoid fines in the European Union. This accusation came after the EC published preliminary findings
The Securities and Exchange Commission (SEC) recently concluded its investigation into Hiro and the Stacks blockchain without recommending any enforcement action. This investigation, which lasted for over three years, marked a crucial period in the history of the Bitcoin Layer-2 network. It all began following the SEC-qualified offering by Stacks back in 2019, which prompted
The recent announcement that the SEC has closed its investigation into Hiro Systems and the Stacks blockchain without recommending any enforcement action marks a significant milestone in the history of the Bitcoin Layer-2 network. This investigation, which began over three years ago, was initiated following the first-ever SEC-qualified offering by Stacks in 2019. Despite the
The UK Law Commission’s recent release of a scoping paper addressing the legal characterization of Decentralized Autonomous Organizations (DAOs) has sparked a significant discussion in the legal and blockchain communities. DAOs are blockchain-based communities formed for a common purpose, such as investing in startups or acquiring historical documents. With market observers touting DAOs as the
Recently, the US Securities and Exchange Commission (SEC) made a significant move by accepting a proposal with exceptions for certain institutions affected by the controversial Staff Accounting Bulletin No. 121 (SAB 121). This news has caused quite a stir in the financial industry, especially in the realm of crypto accounting compliance. The SEC’s decision allows
The recent vote in the US House of Representatives regarding SEC Staff Accounting Bulletin (SAB) 121 has sparked controversy and debate among lawmakers. With 228 House members voting to end SAB 121, 184 voting against the resolution, and 21 abstaining, the outcome fell short of the two-thirds majority needed to override President Joe Biden’s previous
The US Securities and Exchange Commission (SEC) has concluded its investigation into stablecoin issuer Paxos. Paxos announced on July 11 that the SEC had issued an investigations termination notice on July 9, confirming that no enforcement action would be taken against Paxos Trust Company regarding the Binance USD (BUSD) stablecoin. This decision comes more than
