Regulation

In recent years, there has been widespread concern over the role of cryptocurrencies in funding terrorist activities. However, Brian Nelson, the Undersecretary for Terrorism and Financial Intelligence at the US Department of the Treasury, challenged these widely held beliefs during his testimony to Congress on Feb. 14. Nelson’s insights shed light on the actual involvement

In response to a recent breach of the U.S. Securities and Exchange Commission’s (SEC) X account, Gary Gensler, chair of the SEC, has addressed lawmakers to assure them of the agency’s commitment to cybersecurity. The breach occurred on Jan. 9 through a SIM swap attack, leading to the publication of a false message about the

Elon Musk has been ordered to testify in a US Securities and Exchange Commission (SEC) inquiry regarding his acquisition of social media platform Twitter, now known as X. The court filing reveals that Judge Laurel Beeler upheld the SEC’s authority to gather relevant information for the investigation through a subpoena. The judge’s decision affirms the

The New York Attorney General’s Office (NYAG) has recently expanded its fraud claims against Digital Currency Group (DCG) and related parties. Initially alleging over $1 billion in losses, the NYAG has now amended the lawsuit to include an additional $2 billion, bringing the total to a staggering $3 billion. These alleged losses are said to

During her recent testimony before the Senate Banking, Housing, and Urban Affairs Committee, Treasury Secretary Janet Yellen made a compelling case for stricter regulatory measures in the world of cryptocurrencies and emphasized the importance of vigilance when deploying artificial intelligence (AI) in financial services. With the growing complexity and potential risks within the digital asset

The Bank for International Settlements (BIS) has recently issued a warning about the potential risks of fragmentation and dominance by private firms within the nascent metaverse. The BIS emphasizes the crucial role of public policies in safeguarding the future of this digital ecosystem. In their comprehensive report published on February 7th, the watchdog highlights how

The joint application for a spot Ethereum exchange-traded fund (ETF) by Ark Invest and 21Shares has undergone significant amendments, as highlighted in a recent S-1 filing. The changes primarily focus on the creation and redemption process, limiting it to cash-based transactions rather than in-kind exchanges involving ETH. This article delves into the implications of this

In a statement on February 5th, Michael Sonnenshein, CEO of Grayscale, emphasized the importance of advocating for the development of a robust listed options market for spot Bitcoin exchange-traded funds (ETFs). While Bitcoin has been trading publicly since 2015 through Grayscale’s GBTC, listed options have not been available due to the absence of an options

The South Korean Financial Services Commission (FSC) recently announced significant legislative amendments aimed at tightening regulations surrounding virtual asset business operators. These amendments are designed to enhance compliance and oversight in the rapidly evolving virtual asset sector, with a particular focus on the accountability and duties of crypto executives. One of the central changes introduced

The approval process for spot Bitcoin exchange-traded fund (ETF) options may experience significant delays, according to a recent report by Reuters. The article highlights the need for dual approval from both the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), and suggests that it could take anywhere from two to

In a scathing critique of the U.S. Securities and Exchange Commission’s (SEC) legal filing, Coinbase Chief Legal Officer (CLO) Paul Grewal expressed dissatisfaction with the lack of substance in the document. Grewal took to X to share his disappointment, stating, “Below is the administrative record of [the SEC’s] decision rejecting our petition for digital assets

The European Securities and Markets Authority (ESMA) has recently released guidance on the provision of crypto-asset services by EU-based crypto firms to non-EU customers. The guidance clarifies that such services are limited under the Markets in Crypto Assets Regulation (MiCA) to cases where the client is the exclusive initiator of the service. However, it is

In a recent speech delivered by CFTC Chair Rostin Behnam, he emphasized the need for regulators to increase their efforts in supervising the burgeoning cryptocurrency industry. Despite the recent approval of Bitcoin ETFs, Behnam made it clear that this does not imply comprehensive regulation in the sector. His address shed light on the current state

The IRS recently issued a reminder to taxpayers regarding the reporting of digital asset-related income. This serves as a reminder to individuals and businesses to carefully consider their digital asset transactions when filing their tax returns. The inclusion of this reminder on various tax forms signals the IRS’s heightened focus on digital assets and their

The approval of a spot Ethereum ETF has been a topic of discussion and speculation among investors and industry insiders. While there are varying expectations and opinions on the matter, it seems that the U.S. Securities and Exchange Commission (SEC) is currently hesitant to approve such an ETF. In this article, we will analyze the

Sen. Elizabeth Warren recently sparked controversy within the crypto community with her remarks criticizing the industry. In a post on X (formerly Twitter), she referenced a report from the U.S. Government Accountability Office (GAO) that highlighted the misuse of cryptocurrencies by rogue nations to evade sanctions and pose national security threats. However, many in the

The U.S. Securities and Exchange Commission (SEC) recently announced that it is seeking public comments on proposals related to options trading on Bitcoin exchange-traded funds (ETFs). This move comes as the SEC continues to evaluate different approaches to regulate the rapidly growing cryptocurrency market. The proposals specifically involve allowing the Nasdaq and Cboe Exchange Inc.

The U.S. Securities and Exchange Commission (SEC) has recently announced that it will be extending the deadline for making a decision on Fidelity’s proposed spot Ethereum ETF. Originally scheduled for a decision by January 20, the SEC has chosen to use a provision that allows it to extend the deadline by 45 days, making the

The court hearing between Coinbase and the U.S. Securities and Exchange Commission (SEC) on January 17th shed light on the ongoing legal battle between the two entities. The SEC had previously accused Coinbase of operating an unregistered national securities exchange and providing an unregistered sale and offering of securities through its crypto staking service. While

Financial authorities in South Korea are growing increasingly concerned about the misuse of cryptocurrency mixers for money laundering by criminal organizations. Originally designed to protect user privacy, these mixers have become a tool for illicit financial activities. To address this issue, the Financial Intelligence Unit (FIU) of South Korea’s Financial Services Commission is considering the

The trial between the U.S. Securities and Exchange Commission (SEC) and Terraform Labs, along with its former top executive, has been postponed, according to a report by Reuters. The delay has been approved by the SEC due to the decision of Terraform Labs’ co-founder, Do Kwon, to attend the trial. This article will analyze the

South Korea’s Financial Services Commission (FSC) has raised concerns about the legality of domestic securities firms offering brokerage services for overseas-listed Bitcoin spot exchange-traded funds (ETFs). The FSC stated that these services may be in violation of local laws, specifically the Virtual Asset User Protection Act and the Capital Markets Act. This article will examine

Grayscale, a leading digital asset management firm, has recently filed for a Bitcoin covered call exchange-traded fund (ETF). This move showcases Grayscale’s dedication to expanding its product offerings and the overall cryptocurrency ecosystem. The filing was made on January 11 and has gained attention from various external reports and media outlets. Grayscale’s CEO, Michael Sonnenshein,

In a groundbreaking development, Grayscale has announced that its spot Bitcoin ETF proposal has been approved by the U.S. Securities and Exchange Commission (SEC) on January 10. This approval marks a significant milestone for both GBTC investors and the entire crypto industry. Grayscale CEO Michael Sonnenshein expressed his excitement, emphasizing the potential of cryptocurrencies to

Decentralized Finance (DeFi) has gained significant attention and popularity in recent years, attracting both investors and enthusiasts. However, a comprehensive report titled “Decentralized Finance” by the CFTC’s Digital Assets and Blockchain Technology Subcommittee sheds light on the inherent risks and challenges associated with this rapidly growing field. Spearheaded by CFTC Commissioner Christy Goldsmith Romero, the

The Chair of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, has recently issued a cautionary advisory with regards to investing in crypto assets. He emphasized the risks associated with these investments, including regulatory non-compliance, volatility, and potential fraudulent activities. Gensler raised concerns that entities offering crypto investments may not be abiding by relevant

News surrounding the approval of spot Bitcoin exchange-traded funds (ETFs) has been met with delays, leaving investors and enthusiasts eager for updates. As the US Securities and Exchange Commission (SEC) moves at its own pace, speculation persists about when the long-awaited approval will finally come. In this article, we will examine the latest developments surrounding