In an era where digital currencies are increasingly part of mainstream financial discussions, Cantor Fitzgerald’s CEO, Howard Lutnick, has emphasized the need for regulators to classify Bitcoin (BTC) as a commodity akin to gold and oil. Speaking on the “Mornings with Maria” segment of Fox Business, Lutnick’s assertions illustrate a growing consensus among investors and
Regulation
In a significant development for its financial landscape, Hong Kong’s financial regulators, namely the Hong Kong Monetary Authority (HKMA) and the Securities and Futures Commission (SFC), have unveiled their intentions to update the city’s over-the-counter (OTC) derivatives reporting framework. This initiative aims not only to enhance regulatory compliance but also to establish synchronization with international
On September 27, 2023, the U.S. Securities and Exchange Commission (SEC) reached a significant settlement with Mango Markets’ decentralized autonomous organization (DAO) and the Blockworks Foundation. This resolution comes on the heels of serious allegations against both entities for selling unregistered securities. These accusations emerged primarily due to the controversy surrounding a $100 million exploit
Senator Cynthia Lummis of Wyoming has voiced strong opinions regarding the future of Gary Gensler, the Securities and Exchange Commission (SEC) Chair. In a recent interview on CNBC’s Squawk Box, she speculated that Gensler may resign next year, particularly if Donald Trump is to return to the presidency. This statement raises intriguing questions about the
The recent ruling by Judge Katherine Polk Failla of the Southern District of New York has sent shockwaves throughout the cryptocurrency community, particularly concerning the legal status of software code that underpins various crypto protocols. This decision, delivered on September 26, effectively states that certain software code utilized in crypto protocols such as Tornado Cash
In a recent interview with CNBC’s “Squawk Box,” Gary Gensler, Chair of the U.S. Securities and Exchange Commission (SEC), offered significant clarity regarding Bitcoin’s status as a digital asset. He reinforced that Bitcoin is not classified as a security under U.S. law, but rather as a commodity. This distinction is crucial, especially in light of
The Australian financial landscape is undergoing a significant transformation with the introduction of a new licensing regime for cryptocurrency service providers by the Australian Securities and Investments Commission (ASIC). This initiative, reported on September 23, marks a crucial step in safeguarding investors and enhancing the financial infrastructure surrounding digital assets in Australia. The dialogue surrounding
In a transformative move for the cryptocurrency landscape, Sygnum, a Swiss crypto banking group, has secured a comprehensive crypto license in Liechtenstein through its local subsidiary, Sygnum Europe AG. As announced on September 23, this approval from the Financial Market Authority (FMA) allows Sygnum to operate as a regulated service provider under the Token and
The emergence of decentralized finance (DeFi) has revolutionized the way traditional banking and finance operate, offering innovative solutions and new avenues for investment. However, the rapid evolution of this sector has significantly outpaced regulatory frameworks around the world, leading to a convoluted environment filled with uncertainties. In this context, former President Donald Trump’s venture, World
In a bold move to combat the escalating threat of cybercrime, German authorities have recently taken the significant step of shutting down 47 cryptocurrency exchanges alleged to have facilitated illicit activities. This decisive action was announced by the Central Office for Combating Internet Crime (ZIT) in conjunction with the Federal Criminal Police Office (BKA). The
