cryptoregulation
SEC Commissioner Mark Uyeda has criticized the SEC’s approach to crypto disclosure rules, calling it “problematic.” The comment came in a July 1 statement on the SEC’s website. Per a statement on July 1, Uyeda announced new rules for Registered Index-Linked Annuities (RILA). However, a footnote in the statement criticised the SEC’s approach to crypto regulations. SEC Commissioner says current approach inadequateUyeda noted that Form S-1 filings, used by firms going public or registering new securities, need updates. The commissioner argued that the commission’s current approach “neither facili...
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Circle, the company behind USD Coin (USDC), has achieved a significant milestone by becoming the first global stablecoin issuer to comply with the European Union’s Markets in Crypto-Assets (MiCA) regulatory framework. On Monday, the company announced it has been granted an electronic money institution (EMI) license by France’s banking regulator, the Autorité de Contrôle Prudentiel et de Résolution (ACPR). This license enables Circle to issue its USDC and Euro Coin (EURC) tokens in compliance with MiCA’s stringent stablecoin regulatory obligations, making Circle the first firm to reach this lev...
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Marine Le Pen’s far-right National Rally (NR) party has taken a commanding lead in the first round of the French parliamentary elections, securing 33.2% of the vote. This result marks a significant shift in France’s political landscape, with the NR eclipsing the left-wing New Popular Front’s 28% and President Emmanuel Macron’s Ensemble alliance’s 22.4%. Analysts are now speculating on potential implications for the cryptocurrency sector in France. Historical stance on crypto: from opposition to uncertaintyHistorically, the National Rally has maintained an ambiguous stance on cryptocurrencies. ...
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The once-dominant Bitcoin exchange, Mt. Gox, which collapsed a decade ago following a massive hack, is set to return nearly $9 billion worth of tokens to its users. This long-awaited payout comes after a prolonged and complicated bankruptcy process, and has sparked concern among investors about potential impacts on the cryptocurrency market. Returning billions: The Mt. Gox sagaMt. Gox, which stands for “Magic: The Gathering Online Exchange,” was once the largest platform for Bitcoin trading, handling around 80% of all global dollar trades for the cryptocurrency. In 2014, the Tokyo-based exchan...
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The cryptocurrency industry awaits significant events this week. Ethereum ETF amendments, key economic stats, and the European Union’s new regulations will grab investor attention in the coming seven days. Ethereum ETFs delayedThe United States SEC has delayed the launch of spot Ethereum ETFs, which individuals expected to happen by 4 July. Consequently, the regulator returned S-1 Ethereum ETF forms to all applicants. Issuers have until 8 July to resubmit their filing. The SEC needs more time to review the applications, postponing the launch timeframe to mid-July or later. The delay could yiel...
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According to sources within the issuer community, the US Securities and Exchange Commission (SEC) has returned the S-1 forms to prospective Ethereum ETF issuers, marking another step in the complex process of getting these financial products approved. The SEC has provided light comments on the submissions, requiring issuers to address these points and refile by July 8. This latest round of communication indicates that at least one more round of filings will be necessary before the Ethereum ETFs can begin trading. The crypto community to wait longer for Ethereum ETF approvalThe S-1 forms are a ...
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Bolivia has lifted its ban on cryptocurrencies. The move comes a decade after Bolivia’s central bank, Banco Central de Bolivia, outlawed virtual currencies in the nation. According to a recent announcement, the central bank will now allow financial institutions in the nation to conduct transactions involving cryptocurrency assets. These transactions were previously prohibited under the Board Resolution N°144/2020. Crypto to counter inflationThe move comes as the nation’s economy has been struggling over the past years. With cryptocurrencies, the central bank aims to modernise the nation’s digi...
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Exchange Kraken’s co-founder Jesses Powell has disclosed a significant donation to support Donald Trump’s election campaign. He has donated $1 million, mostly in Ethereum, to back “the only pro-crypto major party candidate in the 2024 presidential election.” Powell emphasized the need for pro-cryptocurrency leadership to push the U.S. to the forefront of innovation. Jesse Powell criticizes Biden Admin, Elizabeth Warren, and Garry Gensler Kraken’s co-founder attacked the current approach by the United States in regulating cryptocurrencies. He stated President Biden has done little to nothing to...
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Coinbase, the largest cryptocurrency exchange in the U.S., has initiated a legal battle against the Securities and Exchange Commission (SEC) and the Federal Deposit Insurance Corporation (FDIC). The lawsuits, filed on Thursday in a Washington, D.C., district court, aim to obtain documents that reveal the agencies’ regulatory strategies concerning the crypto industry. Coinbase’s pursuit for internal recordsIn its lawsuits, Coinbase accuses the SEC and FDIC of a “deliberate and concerted effort” to pressure banks into denying crypto firms access to the federal banking system. The exchange is see...
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The Switzerland-based non-profit organization Hashgraph Association has inked a strategic deal with Blade Labs to accelerate a financial revolution in the Middle East. According to the press release, the partnership will bolster digital transformation by bringing distributed ledger technologies to traditional finance. The Qatar Financial Center-certified Blade Labs will deploy Sharia-compliant securities platforms designed to enhance collateral management, improve liquidity, and reduce businesses’ operational costs through fund tokenization. That will bolster capital efficiency and ensure adva...
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