In response to reports of state actors utilizing Tether’s USDT tokens to circumvent US sanctions, Tether has made the decision to freeze any addresses linked to sanctioned entities. A spokesperson for the firm emphasized Tether’s commitment to respecting the Office of Foreign Assets Control (OFAC) SDN list and promptly freezing sanction addresses to adhere to
Regulation
The Blockchain Association and the Crypto Freedom Alliance of Texas are pushing back against the US Securities and Exchange Commission (SEC) through legal action. They argue that the SEC exceeded its authority by implementing a rule that redefines the concept of a “dealer” of securities. According to the groups, this move was unjust and in
Following a series of controversies, two SEC lawyers, Michael Welsh and Joseph Watkins, have decided to resign from their positions as lead attorneys in the legal case against crypto firm DEBT Box. The decision to resign came after the regulator made it clear that they would be terminated if they did not step down from
In response to the rapid growth and increasing complexity of the digital assets industry, the Hong Kong Securities and Futures Professionals Association (HKSFPA) has proposed the establishment of independent self-regulatory organizations (SRO) specifically dedicated to overseeing the sector. This initiative aims to enhance the regulatory landscape in Hong Kong to support innovation and security within
The MiCA regulation proposed by the European Union is set to reshape the crypto industry, bringing about significant changes for crypto companies. As the regulatory environment evolves, companies need to ensure compliance for a smooth transition and continued operation in the market. The introduction of MiCA regulation poses several challenges for companies operating in the
The US Securities and Exchange Commission (SEC) filed an amended complaint on April 18 in its case against Justin Sun and other defendants, asserting that Sun’s alleged visits to the United States should give the SEC the jurisdiction needed to take legal action. The regulator claimed that Sun had traveled extensively to the US while
The recent introduction of the Lummis-Gillibrand Payment Stablecoin Act in the US Senate has sparked a wave of criticism from key figures within the crypto industry. Among those voicing opposition to the bill is former Blockchain Association member Jake Chervinsky, who described the proposed legislation as “deeply flawed.” Chervinsky raised concerns that the bill would
The provincial government of Buenos Aires has taken a significant step by formally accusing Worldcoin of violating consumer laws due to what they claim are “abusive clauses” in its user agreement. Among the allegations made by the government is that Worldcoin’s user agreement allows the company to interrupt services without providing any form of repair
Recent discussions between House leaders and Senate Majority Leader Chuck Schumer may lead to action on stablecoin legislation during this summer’s session or in the year-end lame-duck session. House Financial Services Chair Patrick McHenry and ranking member Maxine Waters met with Schumer last week to deliberate on stablecoin legislation, a key area of financial technology
As the blockchain technology continues to evolve, questions surrounding the balance between transparency and data ownership are being raised. While the immutability and transparency of blockchain data can be seen as a way to democratize information and break the control of big corporations, there is also a desire for individuals to have ownership over their
The IRS criminal investigation chief, Guy Ficco, recently highlighted a concerning trend in tax crimes involving cryptocurrency. According to Ficco, there has been a surge in what he calls “pure crypto tax crimes” falling under Title 26 of the US Code, specifically federal income tax violations. These crimes range from failing to report income from
The European Securities and Markets Authority (ESMA) recently issued a warning about the high level of concentration in the crypto markets. This concentration poses a significant risk, as a failure of a single asset or exchange could have widespread repercussions throughout the entire crypto ecosystem. ESMA’s findings reveal that market capitalizations and trading volumes are
The US Securities and Exchange Commission (SEC) has recently issued a Wells notice to Uniswap Labs, the entity behind the popular Ethereum-based decentralized exchange, Uniswap. This notice serves as a warning that the SEC is considering taking legal action against the company for potential violations of securities laws. The founder of Uniswap, Hayden Adams, has
During a recent Senate hearing, Senator Tim Scott raised concerns about the current US administration’s focus on digital assets as a primary means of combating terrorism financing. He criticized the administration for overlooking more significant sources of funding, particularly those benefiting Iran, such as the $35 billion in oil exports and $16 billion in US