The Commodity Futures Trading Commission (CFTC) Chair, Rostin Behnam, recently expressed openness to the idea of the agency becoming a primary regulator for cryptocurrencies. During a Senate Agriculture Committee hearing on digital commodities oversight, Behnam highlighted the need for more regulatory authority in the crypto space. This raises questions about the role of the CFTC
Regulation
The Chief Compliance Officer of Bitwise, Katherine Dowling, recently mentioned that spot Ethereum ETFs are on the verge of approval. She highlighted that the SEC has been receptive to discussions about various financial products. In a recent interview with Bloomberg on July 9, Dowling stated that the SEC and ETF issuers are resolving fewer issues
The Republican Party has taken a bold step by including Bitcoin and cryptocurrency in its official platform for the upcoming 2024 election, marking a significant shift towards embracing digital assets and blockchain technology. This move reflects former President Trump’s recent statements and signals a broader trend within the party to recognize the importance of these
In a bold move, Messari, a prominent US-based crypto market intelligence platform, has decided to break away from the Securities and Exchange Commission (SEC). The CEO of Messari, Ryan Selkis, made a public statement on July 7, denouncing the SEC and its Chair Gary Gensler. Selkis declared, “I’ve declared independence from the SEC and its
Former Solicitor General Donald B. Verrilli, who now works as the senior legal strategist for Grayscale Investments, has voiced concerns about US regulators intentionally stifling the growth of the crypto industry through debanking practices. He, along with former Solicitor General Paul Clement, filed a joint amicus brief pointing out the regulatory challenges faced by digital
South Korea’s Financial Supervisory Service (FSS) has unveiled plans to increase supervision of cryptocurrency trading platforms within its jurisdiction. The aim is to crack down on fraudulent transactions and ensure the integrity of the crypto market. The regulator’s recent announcement requires local exchanges to implement a continuous monitoring system for detecting unfair transactions and report
Galaxy Digital CEO Mike Novogratz recently discussed the future of cryptocurrency regulation in the US, regardless of the outcome of the 2024 presidential election. He emphasized the importance of bipartisan support for the crypto sector, stating that it cannot afford to have one party supporting it while the other opposes it. Despite some opposition from
Billionaire investor Mark Cuban has recently advocated for changes to Form S-1 to make it easier for token-based companies to register with the SEC. This suggestion comes after SEC Commissioner Mark Uyeda criticized the agency’s current approach to crypto disclosure filings as “problematic.” Form S-1 is a registration statement required by the SEC for domestic
The Bahamas is taking steps to boost adoption of its central bank digital currency (CBDC) known as the “Sand Dollar” by providing access through commercial banks. This move aims to make it easier for individuals to utilize the digital currency for various transactions. Governor of the Central Bank of The Bahamas, John Rolle, mentioned that
In a recent development, Silvergate Capital agreed to a settlement of $50 million with the Securities and Exchange Commission (SEC) while facing demands from the Federal Reserve governors and California financial regulators for an additional $63 million in fines. The SEC accused Silvergate Capital, its subsidiary Silvergate Bank, and two executives of providing false information
The recent revelation by VanEck’s Head of Digital Assets Research, Matthew Sigel, regarding the company’s Solana spot ETF proposal betting on Donald Trump’s victory in the US presidency raises interesting questions about the impact of political leadership on regulatory decisions. The deadline for VanEck’s application coincides with the aftermath of the US Presidential elections in
Circle, a well-known cryptocurrency company, made headlines on July 1 when it announced that it had secured an e-money license from France. This achievement is significant as Circle is now the first global stablecoin issuer to comply with the EU’s Markets in Crypto-Assets (MiCA) regulations. The license, granted by France’s financial regulator, the Autorité de
Cryptocurrency has revolutionized the financial industry, offering unprecedented challenges and opportunities for regulators worldwide. The European Union, in particular, has taken proactive steps to regulate the crypto space through the Markets in Crypto-Assets regulation (MiCAR). However, a critical gap exists within this regulatory framework when it comes to non-custodial crypto asset service providers. The Regulatory
Vitalik Buterin, the co-founder of Ethereum, has once again expressed his worries about the current state of cryptocurrency regulation, particularly in the United States. He raised a crucial point about a regulatory paradox that seems to hinder the growth and integrity of the industry. Buterin pointed out that the existing regulatory framework allows projects with
