Recently, Coinbase, Ripple, and Andreessen Horowitz (a16z) made headlines for their decision to send representatives to both the Republican National Convention (RNC) and the Democratic National Convention (DNC). The purpose of their attendance is to lobby GOP power brokers and Democratic leaders to support policies that benefit the crypto industry. The decision by these prominent
Regulation
Recently, South Korean lawmakers introduced a bill to postpone the implementation of the crypto gain tax until 2028. This decision was made in response to the current negative sentiments surrounding the cryptocurrency industry. The ruling political party argues that with the declining investment sentiment towards virtual assets, hastily imposing taxes on them may not be
Elon Musk, the CTO and chairman of X, recently took to social media to make some shocking claims about the European Commission. According to Musk, the EC allegedly offered X an “illegal secret deal” to censor speech in order to avoid being fined in the EU. Musk made these claims in response to the EC’s
The recent closure of the SEC investigation into Hiro and the Stacks blockchain marks a significant milestone in the history of the Bitcoin Layer-2 network. After more than three years of scrutiny, the team is celebrating the conclusion of the investigation without any enforcement action recommended. This outcome is a testament to Hiro’s commitment to
The recent closure of the SEC investigation into Hiro Systems and the Stacks blockchain marks a significant milestone in the history of the Bitcoin Layer-2 network. This investigation, which spanned over three years, was initiated following the first-ever SEC-qualified offering by Stacks in 2019. The closure of this investigation without any enforcement action being recommended
The UK Law Commission recently published a scoping paper discussing the legal characterization of Decentralized Autonomous Organizations (DAOs) in the country. DAOs are blockchain-based communities that work towards a common goal, such as investing in startups or acquiring historical artifacts. However, the Commission highlighted the difficulties in defining DAOs, as there is a lack of
The recent decision by the US Securities and Exchange Commission (SEC) regarding exceptions for certain institutions impacted by Staff Accounting Bulletin No. 121 (SAB 121) has sparked debate within the financial industry. This move is seen as a significant development in the realm of crypto accounting compliance and has the potential to shape the future
The recent vote in the US House of Representatives regarding HJ Res. 109 to rescind SEC Staff Accounting Bulletin (SAB) 121 ended in a disappointing outcome. While 228 House members voted in favor of ending SAB 121, 184 voted against the resolution and 21 abstained. This majority support was still insufficient to overturn the bulletin,
In a recent development, the US Securities and Exchange Commission (SEC) has officially closed its investigation into stablecoin issuer Paxos. This decision comes after over a year of uncertainty surrounding Paxos and its role in the issuance of the Binance USD (BUSD) stablecoin. On July 11, Paxos made an announcement revealing that they had received
The Commodity Futures Trading Commission (CFTC) chair Rostin Behnam has expressed a willingness for the agency to become a primary regulator for cryptocurrencies. This statement was made during a recent Senate Agriculture Committee hearing focused on digital commodities oversight. The discussion revolved around the CFTC’s request for expanded regulatory authority in the realm of cryptocurrencies.
