Ripple, a prominent player in the cryptocurrency sector, has recently achieved a significant milestone by receiving approval from the New York State Department of Financial Services (NYDFS) for the deployment of its Ripple USD (RLUSD) stablecoin. This announcement, made by CEO Brad Garlinghouse on December 11, 2023, highlights not only Ripple’s commitment to regulatory compliance
Regulation
In a groundbreaking move for the cryptocurrency landscape, Tether’s USDT stablecoin has received the nod as an Accepted Virtual Asset (AVA) by the Abu Dhabi Global Market (ADGM), as announced on December 10. This important decision, made by the Financial Services Regulatory Authority (FSRA), allows licensed businesses within this financial jurisdiction to provide services using
The world of Bitcoin is witnessing substantial transformations as influential figures project a potential resurgence of Bitcoin mining in China and its integration into national reserve assets. Anthony Scaramucci, a prominent financier, made headlines at the Bitcoin MENA 2024 conference with his assertions, which shed light on how shifts in policies and geopolitical stances could
In an era marked by rapid technological advancements and the burgeoning popularity of cryptocurrencies, regulatory bodies worldwide are grappling with the challenge of ensuring compliance amid evolving financial landscapes. The Australian Transaction Reports and Analysis Centre (AUSTRAC) has taken a significant step in this direction, amplifying its focus on the operational dynamics of cryptocurrency ATMs.
On December 11, the U.S. Senate Banking Committee faces a pivotal decision regarding the renomination of Caroline Crenshaw as a commissioner at the Securities and Exchange Commission (SEC). Known for her stringent skepticism toward cryptocurrencies, Crenshaw’s potential reappointment is stirring considerable unrest within the crypto community. Over her tenure since August 2020, she has consistently
In a recent development, the U.S. Securities and Exchange Commission (SEC) has made headlines by reportedly moving to dismiss two applications for spot exchange-traded funds (ETFs) related to Solana (SOL). Eric Balchunas, a senior analyst at Bloomberg ETF, has characterized these rejections as the “parting gift” of the current SEC Chair, Gary Gensler, who is
In its latest 2024 annual report, the Financial Stability Oversight Council (FSOC) underscores a pivotal concern regarding stablecoins: their growing prevalence may threaten overall financial stability. Unlike traditional currencies, stablecoins, which are designed to maintain a stable value against fiat currencies, are emerging as significant players within the financial ecosystem. However, the FSOC argues that
Pump.Fun has recently made headlines by restricting access to users in the UK, a move that follows a cautionary warning from the Financial Conduct Authority (FCA). On December 3, the FCA voiced concerns over the platform’s potential unauthorized offerings of financial products, highlighting a growing unease surrounding the unregulated crypto market. This warning served as
In a landmark achievement, Circle has secured its position as the first stablecoin issuer to comply with Canada’s newly established listing requirements for its USD Coin (USDC). This significant development comes at a time when the company is navigating through a period of layoffs and operational reevaluation. As announced by Circle’s CEO, Jeremy Allaire, on
The South Korean government has recently faced confusion surrounding its plans regarding the issuance of real-name cryptocurrency accounts for corporations. Reports from various media outlets including Hankyung suggested that the Financial Services Commission (FSC) was poised to unveil a roadmap prioritizing nonprofit organizations for corporate crypto account access by the end of December. However, a
