Regulation

The July 13 ruling on the suit filed by the United States Securities and Exchange Commission (SEC) has led to unprecedented interest in the XRP token. In the few days since the court decision, a jump in XRP (XRP) trading has seen it surpass all other cryptos in monthly volume, according to Kaiko. In a research report

ChatGPT eats cannibals ChatGPT hype is starting to wane, with Google searches for “ChatGPT” down 40% from its peak in April, while web traffic to OpenAI’s ChatGPT website has been down almost 10% in the past month.  This is only to be expected — however GPT-4 users are also reporting the model seems considerably dumber

The Financial Stability Board (FSB) — an international organization that monitors the global financial system — has come up with a global regulatory framework for crypto. The guidelines recommended to the 20 leading economies of the world, known as the G20, are crafted upon the principle of “same activity, same risk, same regulation.” A public

Another “Big Four” bank in Australia has said it will put blocks on certain cryptocurrency platforms, citing high levels of scams risk in the industry. National Australia Bank (NAB) on July 17 officially announced a set of new measures to protect customers from fraud as part of its “bank-wide scam strategy.” Alongside halting “millions in

Former Securities and Exchange Commission official John Reed Stark spoke out against the recent ruling on Ripple Lab’s case, calling the decision “troublesome on multiple fronts” in a LinkedIn analysis. Stark broke down Judge Analisa Torres’ decision from July 13 by examining the grounds upon which she ruled in favor of Ripple in a lawsuit

Senator Cynthia Lummis, a Republican from Wyoming, has taken to Twitter to emphasize the significance of a recent court ruling by Judge Analisa Torres, which declared that the Ripple-associated token XRP should not be considered a security. Senator Lummis highlighted that this ruling underscores the urgent need for Congress to establish a comprehensive and unambiguous

Ripple CEO Brad Garlinghouse believes the United States Securities and Exchange Commission (SEC) will face a prolonged process before having the chance to appeal Judge’s Torres favorable ruling in the case against Ripple.  On July 13, Judge Torres ruled partially in favor of Ripple Labs in a case brought forth by the Securities and Exchange

United States presidential candidate Ron DeSantis once again criticized central bank digital currencies (CBDCs), arguing against the possibility of a digital dollar in the country.  Speaking at the Family Leadership Summit on July 14, DeSantis promised to ban CBDCs in the U.S. if he is elected president. “If I am the president, on day one,

A third-party entity named “Eeon” has stepped forward to intervene in the case, representing the interests of Binance’s customers regarding the lawsuit filed by the United States Securities and Exchange Commission (SEC) against Binance. As stated in the filing with the District Court for the District of Columbia, Eeon claims that the SEC and Binance’s

The United States Securities and Exchange Commission (SEC) has accepted https://www.sec.gov/rules/sro/nasdaq.htm application for a spot Bitcoin (BTC) exchange-traded fund (ETF) following its acknowledgment of a similar application by Bitwise the day before. The SEC’s acknowledgment indicates the commencement of the official review process for BlackRock’s ETF proposal. While it is an initial step in a

The U.S. Securities and Exchange Commission (SEC) has argued in court that approving a firm’s S-1 application to go public, does not represent a “blessing” from the agency, nor provide a verification that the business is regulatory compliant. In the interest of transparency, here is the transcript from our hearing yesterday in the SDNY case

In every major litigation, there comes a moment when you realize it’s time to settle. A ruling doesn’t go your way, a juror gives your legal team the side eye, the judge makes it clear it’s time for a settlement conference. After Judge Analisa Torres’ decision in SEC v. Ripple, the time has come for

United States-based cryptocurrency exchange Coinbase has announced it will be temporarily stopping customers from staking additional assets in four states amid legal proceedings from local regulators. In a July 14 blog post, Coinbase said users in California, New Jersey, South Carolina, and Wisconsin would be restricted from using certain staking services until further notice. Following

British society is both civil and democratic, so it wasn’t unexpected that the government of the United Kingdom would “consult” the public before signing off on a digital version of the British pound. The response it received may have been surprising, though. The public canvassing conducted jointly by His Majesty’s Treasury and the Bank of

The government of Indonesia is moving forward with its plans to launch a national cryptocurrency exchange and expects to debut the platform in the coming weeks. Indonesia’s Commodity Futures Trading Supervisory Agency (CFTRA), also known as Bappebti, plans to launch the national crypto exchange in July 2023, local news agency Tempo reported on July 14.

Bankrupt crypto lender Celsius Network has posted that the company is pleased with the resolutions that it was able to reach with various United States government agencies. The announcement came after the news that the FTC has imposed a $4.7 billion fine on the company. On July 13, the United States Federal Trade Commission (FTC)

The United States Securities Exchange Commission (SEC) could be investigated for a “haphazard and heavy-handed approach to digital assets,” or, more specifically, for its “sweetheart deal” with crypto platform Prometheum.  Such requests were filed on July 13 to the SEC’s Inspector General Deborah Jeffrey and the Government Accountability Office’s Comptroller General Gene Dodaro by Congressman

Legislation aimed at regulating certain internet services in the United Kingdom should cover activities in the metaverse, according to members of the House of Lords. In a July 12 session of the U.K. parliament, members of the upper house debated whether the Online Safety Bill would cover “certain harmful content” users could come across in

The United States dollar’s place as a global reserve currency will be under threat if Congress isn’t quick to regulate stablecoins, warns the CEO of Circle. On July 13, Jeremy Allaire appeared in a two-minute video by Circle, the issuer of USD Coin (USDC), targeted at lawmakers. It comes as bipartisan digital asset-specific legislation was

Ripple (XRP) has now become the fourth largest cryptocurrency by market capitalization after Ripple Labs’ partial victory over the Securities and Exchange Commission (SEC) on July 13.  Mere hours after the ruling, XRP market cap surged a whopping $21.2 billion to reach a new yearly high of $46.1 billion, pushing it up from the 7th position