The legal saga involving the United States Securities and Exchange Commission (SEC) and Ripple Labs is far from over. Recently, the SEC filed an opening brief in a bid to overturn a court ruling that largely favored Ripple, particularly regarding the treatment of its cryptocurrency, XRP. This litigation, which began in December 2020, has evolved
Regulation
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
As the political landscape in the United States undergoes a significant shift with the election of Donald Trump, anticipation among cryptocurrency enthusiasts and investors mounts regarding potential regulatory reforms from the U.S. Securities and Exchange Commission (SEC). Reports suggest that the SEC is poised to initiate changes that could reshape the regulatory environment for crypto
The TON Foundation, which is affiliated with the popular messaging platform Telegram, is poised to embark on an ambitious expansion into the United States. This strategic initiative, announced on January 14, follows a promising start to 2024 and comes at a time when the regulatory climate appears to favor cryptocurrencies. The anticipated arrival of President-elect
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
In a significant move towards enhancing global cooperation in the realm of digital finance, the New York Department of Financial Services (NYDFS) has joined forces with the Bank of England (BOE) to introduce the Transatlantic Regulatory Exchange (TRE). This initiative, announced on January 13, exemplifies a growing acknowledgment of the need for cohesive regulatory frameworks
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
As the curtain falls on Gary Gensler’s tenure as Chair of the Securities and Exchange Commission (SEC), it becomes increasingly evident that his relationship with the cryptocurrency industry has been anything but harmonious. Gensler’s persistent critique of crypto assets and their lack of regulatory oversight has drawn ire from many stakeholders in the sector, creating
