The Law Commission of the United Kingdom (UK) Parliament has recently introduced the Property (Digital Assets, etc.) Bill in an effort to legally recognize digital holdings. This proposed legislation aims to categorize crypto, non-fungible tokens (NFTs), and carbon credits as personal property under British law. This significant development marks a historic moment in British legal
Regulation
The Digital Chamber (TDC) has taken a stand by calling on Congress to pass legislation that would categorize certain non-fungible tokens (NFTs) as consumer goods and therefore exempt them from federal securities laws. This move comes in response to the growing worries surrounding the Securities and Exchange Commission’s (SEC) recent actions, including sending a Wells
The US Securities and Exchange Commission (SEC) has been facing ongoing concerns regarding the Staff Accounting Bulletin No. 121 (SAB 121). Commissioner Hester Peirce has recently voiced her reservations about this regulation, emphasizing the need for a reevaluation of its content and process. Peirce’s comments follow a speech by SEC Chief Accountant Paul Munter, who
In a recent report by Social Capital Markets, it was revealed that the US Securities and Exchange Commission (SEC) imposed a staggering $4.68 billion in fines against various crypto companies in 2024. This marks a significant increase from previous years and represents the most aggressive regulatory year in the agency’s history. The total fines imposed
Robinhood’s crypto division has found itself in hot water, agreeing to pay a hefty $3.9 million fine to settle a California investigation into its questionable past practices. The California Attorney General, Rob Bonta, revealed that the settlement was reached due to Robinhood Crypto’s troubling behavior of preventing users from withdrawing their digital assets from 2018
Recently, the US Securities and Exchange Commission (SEC) charged and settled with hedge fund Galois Capital Management LLC over a private fund managed by the firm that primarily invested in crypto. The SEC charges are related to Galois Capital allegedly failing to comply with client asset safeguarding requirements, particularly crypto that the regulator labeled as
In a recent talk at the Korea Blockchain Week 2024 event, US Securities and Exchange Commission (SEC) Commissioner Mark T. Uyeda highlighted the need for specialized S-1 registration forms tailored specifically for digital asset securities. Uyeda emphasized that the current regulatory tools of the SEC may not effectively capture the complexities and unique features of
The recent filing by the US Securities and Exchange Commission (SEC) regarding the repayment strategy in the FTX bankruptcy case has raised significant concerns within the industry. The plan to repay creditors using stablecoins or other digital assets has been met with skepticism from the SEC, leading to potential challenges under federal securities laws. In
Pavel Durov, the CEO of Telegram, has recently been released from prison but placed under judicial supervision with several conditions. He is required to deposit a €5 million bond and is prohibited from leaving French territory. Additionally, Durov must report to the police station twice a week as part of his bond agreement. The Paris
Congressman Wiley Nickel from North Carolina has recently taken a stand against the US Securities and Exchange Commission (SEC) for their “regulation by enforcement” approach. He believes that this method is damaging trust in the regulatory system and could potentially hinder digital innovation in the country. Nickel has been a strong advocate for the crypto
