–> The U.S. Third Circuit Court of Appeals has upheld the SEC’s denial of Coinbase’s petition to order the agency to develop a new regulatory system for crypto “from the ground up.” “The Commission’s determination that the rulemaking Coinbase seeks is currently unwarranted was both reasonable and reasonably explained,” the…
Cuban took to social media on May 10 to express concerns, hinting that the SEC’s stance against cryptocurrencies might affect President Joe Biden’s bid for reelection. Mark Cuban Highlights Crypto’s Critical Role in Forthcoming Election The billionaire believes the emerging industry would be critical in the forthcoming election because “crypto…
This initiative is part of a broader effort by the industry to influence US politics, emphasizing blockchain and crypto-friendly policies. Stand With Crypto PAC Has Raised $86 Million The PAC plans to utilize contributions from its 460,461 members to support a bipartisan group of candidates in both the House of…
This development follows Binance’s guilty plea to violating US money-laundering regulations and trade sanctions. Why DOJ Chose FRA Over Sullivan & Cromwell This appointment stems from a plea agreement that Binance entered last November. As part of the deal, Binance agreed to pay a substantial penalty of $4.3 billion. Furthermore,…
–> A spot ether exchange-traded fund proposal from Cathie Wood’s ARK Invest and 21Shares will not include staking. In a previous filing, ArkInvest/21 Shares included a staking component that said that the “sponsor may, from time to time, stake a portion of the Trust’s assets through one or more trusted…
The International Monetary Fund (IMF) has recommended that Nigeria embrace the regulated use of digital assets by licensing international crypto exchanges. The watchdog made the proposal in its latest consultation report for Nigeria. The move aims to bolster the country’s economic stability while enhancing its status within the African crypto…
Brandt’s prognosis paints a rather grim future, anticipating a regulatory “bloodbath” that could reshape the industry. Brandt Anticipates Strict Crypto Staking Regulation Recently, Brandt expressed concerns over the legal ambiguities surrounding cryptocurrency staking. He called them “illegal” under current financial laws because they mimic traditional banking functions without the requisite…
The Securities and Exchange Commission says Coinbase’ move to appeal its case with the regulator should be denied. Last month, Coinbase filed an interlocutory appeal following a judge’s decision to allow a lawsuit involving the SEC and the platform to proceed without being dismissed. In the appeal, Coinbase claimed differences of…
The FIT21 Act aims to provide much-needed regulatory clarity for cryptocurrencies, a sector plagued by uncertainty that has hampered innovation and consumer protection. SEC Jurisdiction Over Crypto Cut by New Law The FIT21 Act represents a collaborative effort by the House Financial Services and Agriculture Committees, reflecting years of bipartisan…
–> Colombian President Gustavo Petro allegedly accepted more than $500,000 in digital tokens from a scam crypto project to finance his 2022 campaign, according to local media reports. Colombia-based cryptocurrency project Daily COP made the illicit donation of 2 billion Colombian pesos, or roughly $514,036, in crypto to Petro’s campaign…