In a significant move for its cross-border payment solutions, Ripple has secured two Money Transmitter Licenses (MTLs) in states critical to its operations: New York and Texas. This acquisition bolsters the company’s compliance standing and expands its licensing footprint in the U.S. to a total of 31. The importance of these states cannot be overstated;
Regulation
In a pivotal move for the emerging field of digital assets, Senator Cynthia Lummis (R-Wyo.) has been appointed as the inaugural chair of the Senate Banking Subcommittee on Digital Assets. This announcement, made on January 23, sets the stage for Lummis to spearhead legislative initiatives aimed at establishing a robust regulatory framework for blockchain technology
The intersection of technology and law is increasingly becoming a battlefield, particularly as the digital world evolves and privacy-enhancing technologies emerge. Roman Storm, the co-founder of Tornado Cash, has been thrust into this fray following his prosecution, which he describes as a grave threat to privacy. This unique case not only places Storm at the
Caroline Pham’s recent selection as acting chair of the Commodity Futures Trading Commission (CFTC) marks a significant moment for the regulatory landscape of cryptocurrency in the United States. Her appointment, backed by a vote from the CFTC’s five commissioners, comes at a pivotal time when the crypto industry is grappling with rapid changes and heightened
As the cryptocurrency market continues to evolve, Nasdaq’s recent move to file a 19b-4 Form on January 16th for the listing and trading of a spot Litecoin (LTC) exchange-traded fund (ETF) is particularly noteworthy. Registered by Canary Capital, this development marks a potential breakthrough as it is anticipated to be the first altcoin-related ETF approved
The intersection of government actions and cryptocurrency has never been more contentious, especially with the recent developments surrounding the proposed liquidation of 69,370 Bitcoins (BTC) linked to the Silk Road. Senator Cynthia Lummis has been vocally critical of these plans, directing her concerns towards US authorities and highlighting the broader implications these decisions may hold
In a significant crackdown on unethical trading practices, Robinhood has found itself facing hefty consequences with a $45 million settlement stemming from securities law violations. This financial penalty, which breaks down to $33.5 million levied against Robinhood Securities LLC and $11.5 million against Robinhood Financial LLC, highlights critical failings within the company’s operational framework. A
Tether, the prominent player in the stablecoin market, is making headlines by relocating its global headquarters to El Salvador following the acquisition of a Digital Asset Service Provider (DASP) license. This decision marks a significant milestone not only for Tether but also for El Salvador, a nation that has made waves in the cryptocurrency space
On January 10, the Consumer Financial Protection Bureau (CFPB) proposed a significant interpretive rule aimed at enhancing consumer protections within the rapidly evolving digital ecosystem. The proposed rule suggests extending the protections of the Electronic Fund Transfer Act (EFTA) to cover cryptocurrency wallets. This initiative seeks to hold wallet providers accountable in cases of fraud
In a pivotal moment for the Financial Deposit Insurance Corporation (FDIC), interim Chair Travis Hill addressed the concerning trend of “debanking” associated with cryptocurrency firms during his speech in St. Louis on January 10. The implications of his comments extend beyond the immediate concerns of individual businesses; they signal a critical introspection within the FDIC
