In a significant stride towards regulatory control within the cryptocurrency sector, the Central Bank of Brazil (BCB) has proposed a ban on centralized exchanges from letting users withdraw stablecoins to self-custodial wallets. This initiative emerges against the backdrop of the BCB’s ongoing mission to modernize Brazil’s financial architecture to align with the ever-evolving digital asset
Regulation
In a significant move to enhance its financial landscape, Hong Kong is laying out plans for a series of tax exemptions targeted at hedge funds, private equity firms, and family offices with substantial wealth. According to a report by the Financial Times, a 20-page governmental proposal was unveiled on November 28, illustrating the territory’s intent
The anticipated appointment of Paul Atkins as the next chair of the US Securities and Exchange Commission (SEC) highlights a significant shift in regulatory philosophy under the incoming Trump administration. Atkins, a veteran in financial regulation, has made a name for himself as a staunch advocate for deregulation and innovation within the financial technology sphere.
The landscape of cryptocurrency investments is poised for transformation, particularly with the anticipated approval of numerous altcoin-related exchange-traded funds (ETFs). According to Eric Balchunas, a senior ETF analyst at Bloomberg, there are currently 14 altcoin ETFs in the pipeline seeking endorsement from the US Securities and Exchange Commission (SEC) within the next year. This includes
In a significant stride towards modernization, Iran’s Central Bank has announced the impending launch of its own central bank digital currency (CBDC), the Digital Rial. This initiative reflects the country’s ambitions to not only modernize its banking infrastructure but also to enhance the overall efficiency of financial operations both domestically and internationally. Central Bank Governor
Recent findings from the Financial Conduct Authority (FCA) reveal a notable increase in cryptocurrency ownership among adults in the UK, with the figure rising from 10% to 12% as of a report published on November 26. This uptick in participation reflects a growing recognition of cryptocurrencies in wider financial discussions, supported by a substantial awareness
In a notable move, the Blockchain Association, an influential nonprofit advocating for the interests of blockchain and cryptocurrency enterprises in the United States, has reached out to President-elect Donald Trump as well as Congress. Through a comprehensive letter penned by CEO Kristin Smith, the organization has underscored several pivotal priorities that it anticipates should be
In a significant legal development, a federal court has invalidated the Securities and Exchange Commission’s (SEC) dealer rule, marking a pivotal moment in the ongoing debates about regulatory practices within the cryptocurrency ecosystem. The U.S. District Court for the Northern District of Texas determined that the SEC had overstepped its bounds, contravening the Exchange Act
As the digital asset market explodes, with its valuation reaching approximately $3 trillion, a significant shift in regulatory oversight appears imminent. Former Commodity Futures Trading Commission (CFTC) Chair Chris Giancarlo, widely recognized as “Crypto Dad,” is being positioned as the leading candidate to assume a new and pivotal role: the White House “crypto czar.” Announced
As Gary Gensler prepares to resign from his position as Chairman of the U.S. Securities and Exchange Commission (SEC) on January 20, 2025, the role of overseeing financial markets enters a new chapter. Gensler has led the commission since April 2021, and his tenure has been characterized by significant approaches to regulating a rapidly evolving
