The Chair of the Commodity Futures Trading Commission (CFTC), Rostin Behnam, recently spoke before the Senate Committee on Appropriations regarding the agency’s readiness to take on additional crypto responsibilities. Behnam firmly denied any suggestion that the CFTC would be overwhelmed if given more authority in the crypto space. He argued that crypto commodities already fall
Regulation
With the recent $4.5 billion SEC settlement, Terraform Labs CEO Chris Amani has made the decision to wind down the company and transition Terra into a community project. Amani emphasized the need for the community to take over ownership of the chain, signaling a shift in direction for the project. This move indicates a decentralization
Cryptocurrencies have become a significant challenge for law enforcement agencies around the world. The EU Innovation Hub for Internal Security recently released a report highlighting the difficulties faced by authorities in tracking and recovering illicit digital assets moved through decentralized methods using privacy coins, layer-2 networks, and crypto mixers. The report emphasizes how the reliance
Tokenization is becoming increasingly prominent in the financial industry, with its potential to revolutionize traditional financial processes. DTCC Digital Assets global head and managing director Nadine Chakar recently testified before the House Financial Services Subcommittee on Digital Assets, highlighting the benefits of tokenizing real-world assets and its implications for the US financial markets. Chakar emphasized
The upcoming House Appropriation budget poses a significant challenge to the US Securities and Exchange Commission (SEC) in implementing its controversial Staff Accounting Bulletin 121 (SAB 121). The budget bill aims to prohibit the use of appropriated funds by the SEC to enforce the rule, creating a roadblock for the regulatory body. Political Dynamics in
The perception of cryptocurrencies in Washington is undergoing a significant transformation, according to Bitwise CIO Matt Hougan. In a recent memo, he highlighted the evolving attitude of US politicians towards crypto, noting a positive shift that has been largely overlooked by the market. Hougan believes that if the impact of this change had been properly
In a recent blog post titled “How to get regulatory clarity for crypto,” Coinbase CEO Brian Armstrong emphasized the importance of securing regulatory clarity for the crypto industry. He called for a unified effort to support pro-crypto political candidates and vote out anti-crypto incumbents. Armstrong highlighted the significant investment that Coinbase has made in policy
President Joe Biden’s recent decision to veto H.J. Res. 109, aimed at overturning the SEC’s controversial SAB 121 rule, has sparked mixed reactions among lawmakers and industry stakeholders. Biden cited the rule as representing the views of SEC staff and emphasized the importance of regulatory authority in protecting consumers and investors. Despite President Biden’s veto,
The potential launch of US spot Ethereum ETFs in June has been a topic of much speculation within the cryptocurrency community. Bloomberg ETF analyst Eric Balchunas suggested that there is a “legit possibility” of spot Ethereum ETFs being launched by the end of June. However, he also mentioned that an earlier mid-June launch would be
In a bold move on May 29th, SEC commissioner Hester Peirce proposed a groundbreaking idea for a shared digital securities sandbox between the US and the UK. This proposal aims to extend the existing joint digital securities sandbox (DSS) between the Bank of England and the UK’s FCA to include US firms. The implications of
