Regulation

Grayscale Investments CEO, Michael Sonnenshein, highlighted a potential negative outcome for the United States economy if the Securities and Exchange Commission (SEC) continues to take a one-by-one approach to regulating the cryptocurrency industry. During a recent interview with Fox Business, Sonnenshein expressed that the SEC could drive crypto firms out of the country by constantly

Top Stories This Week Judge revokes Sam Bankman-Fried’s bail, remands him to custody FTX’s former CEO, Sam “SBF” Bankman-Fried, had his bail revoked by a federal judge in response to the release of information to The New York Times allegedly intended to intimidate witnesses. During a hearing on Aug. 11, Judge Lewis Kaplan revoked Bankman-Fried’s

Brazilian lawmakers are moving forward with a legislation that would raise taxes on cryptocurrencies held overseas. According to local reports, a congressional committee has approved amendments to a bill that recognizes cryptocurrencies as “financial assets” for tax purposes in foreign investments. In addition, the draft bill taxes gains from fluctuations in crypto asset prices against

Legal proceedings have been initiated by the Commodity Futures Trading Commission (CFTC) against individuals and their organization, Fundsz, citing their involvement in a deceptive scheme concerning cryptocurrencies and precious metals trading. Rene Larralde from Melbourne, Florida, Juan Pablo Valcarce from West Melbourne, Florida, Brian Early from New Orleans, Louisiana and Alisha Ann Kingrey from Franklin,

Crypto-friendly Senator Cynthia Lummis has filed an Amicus Brief supporting Coinbase’s motion to dismiss the U.S. Securities and Exchange Commission’s lawsuit against the firm. An Amicus Brief is a document filed in court by a party that is not directly involved with the related case. They are generally used to add supporting arguments to one

A judge in the bankruptcy case of defunct crypto hedge fund Three Arrows Capital (3AC) has denied a motion that would have held co-founder Kyle Davies in contempt of court and imposed sanctions. In an Aug. 11 filing with the United States Bankruptcy Court for the Southern District of New York, Judge Martin Glenn said

A federal judge has reportedly revoked former FTX CEO Sam Bankman-Fried’s bail following the release of information to New York Times reporters in an alleged attempt to intimidate witnesses. According to reports of individuals present at an Aug. 11 hearing in the United States District Court for the Southern District of New York, Judge Lewis

The Securities and Exchange Commission’s (SEC) delay in deciding whether to approve a spot Bitcoin (BTC) exchange-traded fund (ETF) in the United States is fueling expectations that a final verdict will come in a batch that includes key players on Wall Street, including BlackRock and Fidelity.  “There’s a tremendous amount of pressure on the SEC

The Royal Canadian Mounted Police (RCMP) is seeking for a digital asset solution to facilitate the seizure and storage of cryptocurrency and nonfungible tokens (NFTs). A tender was opened for applications on August 10. As the tender announcement goes:  “The development of a centralized repository solution would allow police officers to seize these assets in

The iris scanning crypto project Worldcoin has now made it possible for even unverified customers to reserve their Worldcoin tokens (WLD). In an announcement on Aug. 11, the Worldcoi n project noted that the World app now offers a reservations feature to make it easier for everyone to reserve their WLD tokens before verifying their

Hong Kong’s Securities and Futures Commission (SFC) has issued an in-principle approval to Hong Kong Virtual Asset Exchange (HKVAX) to operate a virtual asset trading platform under the region’s securities laws.  On Aug. 11, HKVAX announced that it had received an “approval-in-principle” from the SFC to carry out Type 1 and Type 7 regulated activities.

Binance, the world’s leading crypto exchange by trading volume, has reportedly applied to be registered in Taiwan under the Money Laundering Control Act and the Financial Supervisory Commission (FSC). The FSC reportedly informed dozens of domestic crypto service providers that Binance is applying for Anti-Money Laundering (AML) compliance, according to a report published in local media.

The United States Federal Election Commission has pushed a petition forward in a unanimous vote on Aug. 10, which would potentially regulate deep fakes in political ads that were generated by artificial intelligence (AI). The petition targets ads that use AI to portray political opponents acting or saying things that they did not, ahead of

As the United States Securities and Exchange Commission (SEC) seeks an interlocutory appeal in its case against Ripple Labs, lawyers working in the crypto space expressed confidence in Ripple’s case, with some underscoring that the XRP (XRP) token is not a security.  On Aug. 9, the SEC sent a letter to Judge Analisa Torres stating

The California Fair Political Practices Commission (FPPC) has updated its campaign disclosure manuals, with revisions including detailed rules for cryptocurrency contributions declarations. An agenda released for an upcoming commission meeting includes a discussion of updated campaign disclosure manuals, which have been reworked to reflect recent changes to legislation and commission regulations. The updates include campaign contribution

The United States Securities and Exchange Commission (SEC) has announced an agreement with crypto trading platform Bittrex and co-founder and former CEO William Shihara for operating an unregistered exchange. In an Aug. 10 notice, the SEC said Bittrex and Bittrex Global agreed to pay $14.4 million in disgorgement, $4 million in prejudgment interest, and $5.6

Authorities in Argentina have become the latest government officials to probe cryptocurrency project Worldcoin over privacy concerns. In an Aug. 8 announcement, Argentina’s Agency for Access to Public Information (AAIP) said it was investigating Worldcoin over its collection, storage and use of customer data to ensure it complies with security and privacy regulations. Worldcoin (WLD)

Stablecoins are at the heart of a dollar-based revolution and could be a pivotal factor in keeping the U.S. dollar the dominant global currency, according to an Aug. 9 opinion piece published in The Wall Street Journal.  The authors, Brian Brooks and Charles Calomiris, urged Congress to implement a “sound and stable regulatory framework” for stablecoins

A federal judge has approved a joint request from lawyers for Alex Mashinsky and the United States Department of Justice modifying the former Celsius CEO’s bail conditions to include electronic monitoring. In an Aug. 8 filing in U.S. District Court for the Southern District of New York, Judge Gabriel Gorenstein signed off on a modification

The emergence of high-level artificial intelligence (AI) technology has caused the United States and China to safeguard their resources in a race to develop the most powerful systems. A tense relationship is developing between the two world powers, as the Biden Administration announced it would limit Chinese tech investments in semiconductors, quantum computing and AI. This