Category: Regulation
The SEC Closes Investigation into Ethereum 2.0
The SEC recently announced the closure of its investigation into Ethereum 2.0, determining that sales of ETH are not securities transactions. This decision comes after Consensys sought clarity following the May approvals of ETH ETFs, which classified ETH as a commodity. Consensys expressed their satisfaction with the outcome, stating that the SEC has notified them…
The US SEC Concerns and Circle’s Path to IPO
Circle, a fintech company that issues the stablecoin USDC, is facing regulatory hurdles from the US Securities and Exchange Commission (SEC) as it seeks to go public in a multi-billion dollar initial public offering (IPO). The SEC has expressed concerns about the classification of USDC and other stablecoins as securities under US law, which could…
South Korea’s Financial Supervisory Service Clarifies Role in Crypto Regulation
Recently, South Korea’s Financial Supervisory Service (FSS) has come under scrutiny for its alleged involvement in the removal of digital assets from local cryptocurrency exchanges. Reports emerged claiming that the FSS had instructed exchanges like Upbit, Bithumb, and Gopax to evaluate various tokens on their platforms. This move was said to be in line with…
The Departure of SEC Crypto Asset Enforcement Chief David Hirsch
On June 17, SEC crypto asset enforcement chief David Hirsch announced his departure from the agency after serving for almost nine years. He expressed pride in the work done by the Crypto Assets and Cyber Unit team under his leadership. Hirsch took on the role of leading the SEC’s Crypto Asset and Cyber Unit in…
The Evolution of Currency: Embracing Cryptocurrencies for a Transparent Financial Future
Since the post-World War II transition to fiat currency, where money is backed by the government’s value rather than physical commodities like gold, the financial landscape has undergone significant changes. While fiat currency offers flexibility, it has also resulted in governments being able to print money at will, leading to problems like inflation, economic instability,…
Exploring the Potential Benefits and Challenges of Asset Tokenization
Asset tokenization, particularly the tokenization of securities, has been recognized by SEC commissioner Mark Uyeda as a technology with significant potential benefits. Uyeda emphasized that representing asset rights through digital tokens on a blockchain can offer enhanced security, transparency, and immutability. Moreover, he highlighted that tokenization eliminates the need for intermediaries, thus simplifying transactions and…
The SEC’s $2.6 Billion Budget Request and Coinbase’s Objection: A Closer Look
Coinbase recently expressed its objection to the Securities and Exchange Commission’s (SEC) $2.6 billion budget request for the 2025 fiscal year. In a statement to CryptoSlate, a representative from Coinbase criticized the SEC’s focus on enforcement rather than creating meaningful regulations for the crypto industry. The exchange highlighted the lack of clarity in regulatory guidelines…
The Importance of Recovery Plans for Asset-Referenced Tokens (ARTs) and E-Money Tokens (EMTs)
The European Banking Authority (EBA) recently released detailed guidelines pertaining to recovery plans for issuers of asset-referenced tokens (ARTs) and e-money tokens (EMTs) as part of the broader Markets in Crypto-Assets (MiCA) regulation. ARTs are digital tokens that are backed by assets such as commodities, real estate, or a diversified basket of assets. On the…
The Implications of the CFTC’s Potential Expanded Authority Over Crypto Markets
In a hearing before the Senate Committee on Appropriations, CFTC chair Rostin Behnam addressed the agency’s readiness to take on additional responsibilities in the crypto market. Despite concerns that the agency would be overwhelmed, Behnam firmly stated that the CFTC is equipped to handle the regulation of crypto commodities. He emphasized the existing gap in…
The Future of Terra: A Community Project in the Making
As Terraform Labs CEO Chris Amani announced the winding down of the company in light of a $4.5 billion SEC settlement, he emphasized that Terra will transition into a community-led project. Amani expressed the need for the community to take over ownership of the chain moving forward. Several teams and developers have shown interest in…
The Impact of Cryptocurrencies on Law Enforcement Efforts
The recent report released by the EU Innovation Hub for Internal Security sheds light on the significant impact of cryptocurrencies on law enforcement efforts. The report highlights how cryptocurrencies, which heavily rely on public-private key cryptography, present unique challenges and opportunities for law enforcement agencies. The use of decentralized methods like privacy coins, layer-2 networks,…
The Benefits of Tokenization in the Financial Markets
DTCC Digital Assets global head and managing director Nadine Chakar recently testified before the House Financial Services Subcommittee on Digital Assets, advocating for the benefits of tokenization in the US financial markets. Chakar emphasized the transformative potential of tokenizing real-world assets and discussed DTCC’s role in modernizing the financial industry through digital securities and tokenization…
The Rise of Cryptocurrency in Washington: A Turning Point in the Market
In a recent memo, Bitwise CIO Matt Hougan highlighted the shifting attitudes in Washington towards cryptocurrencies. He pointed out that the US political landscape has taken a more positive stance towards crypto in recent weeks, which has not been fully reflected in the market. According to Hougan, if the impact of these changes had been…
The Impact of the House Appropriation Budget on SEC’s SAB 121
The upcoming House Appropriation budget has the potential to prevent the US Securities and Exchange Commission (SEC) from implementing its controversial Staff Accounting Bulletin 121 (SAB 121). According to FOX Business reporter Eleanor Terrett, who broke the news on June 4, the budget includes a provision that would bar the SEC from using appropriated funds…
