Recently, the US Commodity Futures Trading Commission (CFTC) has begun an investigation into Jump Crypto for reasons that have not been disclosed. According to Forbes, the federal agency is looking into the firm’s trading and investment activities within the crypto sector. It is important to note that this examination does not automatically imply any wrongdoing
Regulation
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
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
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
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
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,
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
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 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
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
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 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,
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
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