Senator Cynthia Lummis recently made headlines by introducing new legislation that proposes the establishment of a Bitcoin strategic reserve for the US. The bill aims to accumulate at least 1 million BTC, which would represent 5% of the total supply. This move comes in the wake of former President Donald J. Trump’s keynote at the
Regulation
Coinbase, a prominent player in the cryptocurrency industry, faced a significant setback as the UK’s Financial Conduct Authority (FCA) imposed a hefty fine of £3.5 million ($4.5 million) on its subsidiary, CB Payments Limited (CBPL). The fine was the result of CBPL’s repeated violations of the FCA’s Anti-Money Laundering guidelines. Despite agreeing to strengthen its
The recent conversation between Andreessen Horowitz (a16z) founders Ben Horowitz and Marc Andreessen shed light on the numerous challenges plaguing the crypto industry under the current administration. One of the key criticisms raised by the founders was the Biden-Harris Administration’s approach to regulating the cryptocurrency sector. They highlighted a lack of clear guidance from the
Russia has recently made headlines with the passing of a bill legalizing Bitcoin mining and the use of cryptocurrency for international trade. This move marks a significant shift in the country’s approach to digital assets and currencies, with implications for both the domestic and international financial landscape. Regulatory Framework and Compliance The new legislation aims
The United States House of Representatives recently passed the Financial Technology Protection Act, a bill that aims to address the growing concerns surrounding the use of digital platforms for illicit activities and terrorism financing. The bill, introduced by Representative Zach Nunn on April 27, 2023, was approved on July 22, 2024. One of the key
President Joe Biden’s recent withdrawal from the 2024 presidential race has sparked discussions and predictions about the potential outcomes of the November election. One firm, 10x Research, believes that former President Donald Trump could secure a “decisive victory” in the upcoming election due to the absence of a credible challenger. According to the firm, the
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
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