In a significant development within the cryptocurrency market, the U.S. Securities and Exchange Commission (SEC) has reached a settlement with the decentralized autonomous organization (DAO) of Mango Markets and the Blockworks Foundation. This action, which took place on September 27, 2023, stems from accusations that both entities participated in the sale of unregistered securities, particularly
Regulation
Senator Cynthia Lummis of Wyoming recently stirred discussions regarding the future of the Securities and Exchange Commission’s (SEC) leadership. During a segment on CNBC’s Squawk Box, she shared her belief that SEC Chair Gary Gensler may step down from his position in the coming year. Her remarks countered the show’s assertion that Gensler “loves the
In a landmark decision, a New York judge has made waves in the cryptocurrency realm by ruling against the assertion that code used in crypto protocols, such as Tornado Cash, is protected as free speech under the First Amendment. This ruling, delivered by Judge Katherine Polk Failla of the Southern District of New York on
In the complex and evolving world of cryptocurrency, regulatory clarity is critical for both investor confidence and market stability. Recently, the Chair of the US Securities and Exchange Commission (SEC), Gary Gensler, emphasized that Bitcoin is not a security under US law, reaffirming its classification as a commodity. This declaration works to provide some much-needed
In an era where the cryptocurrency market has exploded in both popularity and complexity, the call for regulatory oversight has become more urgent than ever. The Australian Securities and Investments Commission (ASIC) is taking a decisive step by establishing a licensing framework for cryptocurrency service providers. This shift, reported widely on September 23 by the
As the digital currency market continues to expand rapidly, the need for clear and comprehensive regulations becomes increasingly essential. Among the leading voices advocating for legislative clarity is Congresswoman Maxine Waters, who serves as the top Democrat on the House Financial Services Committee. Waters has recently urged for a bipartisan agreement regarding stablecoins by the
The Swiss cryptocurrency banking group Sygnum continues to make headlines with its recent achievement of obtaining a crypto license in Liechtenstein, notably through its subsidiary, Sygnum Europe AG. This development, announced on September 23, marks a significant milestone for the firm as it positions itself within Europe’s evolving regulatory framework surrounding digital assets. The Financial
Cryptocurrency has emerged as both a revolutionary financial technology and a potential breeding ground for illicit activities. Facing this dual-edged challenge, Germany has undertaken a significant initiative to root out the seedy underbelly of the crypto landscape. By recently shutting down 47 cryptocurrency exchanges believed to facilitate criminal activities, German authorities are sending a strong
The intersection of politics and emerging financial technologies is always a point of contention, and former President Donald Trump’s foray into decentralized finance (DeFi) through his project, World Liberty Financial, serves as a prime example. Amid an elaborate and often perplexing regulatory environment, the project’s viability is under scrutiny, particularly from the U.S. Securities and
In a significant move for financial modernization, Louisiana has recently introduced a groundbreaking initiative allowing its residents to make payments to state agencies via Bitcoin and Circle’s stablecoin, USDC. Announced on September 18, this initiative marks a pivotal step towards embracing digital currency in governmental operations. The Louisiana Department of Wildlife and Fisheries takes the
