In a recent interview, Gary Gensler, Chair of the US Securities and Exchange Commission (SEC), clarified the regulatory status of Bitcoin, reaffirming that it does not fall under the classification of a security. This statement serves as a vital distinction for investors and the cryptocurrency market, especially as the industry grapples with increasing scrutiny. Gensler
Regulation
The Australian Securities and Investments Commission (ASIC) is poised to introduce a significant regulatory framework aimed at enhancing the accountability and transparency of cryptocurrency service providers in Australia. Announced on September 23, this new licensing regime is designed to fall under the Corporations Act, categorizing certain crypto services as financial products. This move comes amidst
In a compelling push for progress on the issue of stablecoin regulation, Congresswoman Maxine Waters, the ranking Democrat on the House Financial Services Committee, has urged for a bipartisan agreement by the end of 2024. This call to action arose during a crucial committee hearing held on September 24, where Waters articulated her belief that
The Swiss crypto banking leader Sygnum has recently made headlines by acquiring a significant crypto license in Liechtenstein. This development comes through its subsidiary, Sygnum Europe AG, which has been officially registered with the Financial Market Authority (FMA) of Liechtenstein. The timing could not be more crucial, as this milestone allows Sygnum to offer regulated
The announcement of World Liberty Financial, a decentralized finance (DeFi) project spearheaded by former President Donald Trump, has stirred significant conversation within the cryptocurrency community. Given the high-profile nature of Trump’s involvement, there is a palpable sense of anticipation mixed with skepticism. However, the underlying regulatory framework governing cryptocurrencies in the United States raises concerns
In a significant move to address the rising concerns surrounding cryptocurrency-related crimes, German authorities have recently taken decisive action against 47 cryptocurrency exchanges suspected of facilitating illegal activities. The crackdown was led by the Central Office for Combating Internet Crime (ZIT) in collaboration with the Federal Criminal Police Office (BKA). This large-scale intervention highlights the
In a significant move towards modernizing state payment systems, Louisiana has initiated a program that allows residents to pay state agencies using cryptocurrency. As outlined in a press release dated September 18, the Louisiana Department of Wildlife and Fisheries will pioneer this initiative, becoming the first agency to accept Bitcoin and Circle’s stablecoin, USDC. This
In recent months, a legal battle involving the Flyfish Club’s non-fungible token (NFT) collection has ignited a contentious debate within the cryptocurrency and regulatory landscapes. The SEC’s enforcement actions, particularly against the culinary-themed NFT project, have drawn sharp criticism from two of its own commissioners—Hester M. Peirce and Mark T. Uyeda. Their dissenting perspective raises
In recent times, the emergence of election-related prediction markets has sparked considerable debate regarding their regulation and oversight. Congressman Ritchie Torres, at the forefront of this discourse, has implored the Commodity Futures Trading Commission (CFTC) to embrace a proactive regulatory approach rather than attempting to stifle these innovative marketplaces. This shift toward regulation, rather than
The world of cryptocurrency has captured the attention and imagination of millions, offering anonymity and independence while posing a myriad of risks, particularly in the realm of custody. Unlike conventional asset custody for stocks and bonds, the process of safeguarding crypto assets is fraught with both complexity and danger. This article delves into the growing