Senator Cynthia Lummis has been a vocal advocate for pro-crypto legislation and believes that the crypto market will play a significant role in the US economy. She emphasizes the importance of not squandering the opportunity that digital assets present. Lummis, along with other pro-crypto lawmakers, has worked tirelessly to educate their colleagues in Congress about
Regulation
The European Securities and Markets Authority (ESMA) has recently brought attention to Maximum Extractable Value (MEV) as a form of illegal market abuse within the context of the proposed Markets in Crypto-Assets (MiCA) regulation. This development, highlighted by crypto regulation commentator Patrick Hansen, has significant implications for the crypto industry as a whole. ESMA’s draft
Recently, the U.S. District Court for the Western District of Texas issued a partial summary judgment in favor of the Securities and Exchange Commission (SEC) in a case against crypto influencer Ian Balina. The court ruled that Balina had offered and sold SPRK Tokens as securities in unregistered transactions, thereby violating US securities laws. This
SEC Chairman, Gary Gensler, has recently expressed his strong opposition to the Financial Innovation and Technology for the 21st Century (FIT21) Act, which has been praised for its potential to bring regulatory clarity to the crypto industry. Gensler argues that the bill, if passed, would actually weaken the current consumer protections in the crypto market.
Uniswap Labs has recently come out with a bold and defiant response to the Securities and Exchange Commission’s (SEC) Wells notice, pushing back against the agency’s attempts to regulate decentralized finance (DeFi). In a blog post on May 20, the company stated that it firmly believes it is in the right and is ready to
Recent developments in the approval process for spot Ethereum exchange-traded funds (ETFs) have sparked greater optimism among industry experts. The Securities and Exchange Commission (SEC) has requested spot Ethereum ETF applicants to update their 19-b4 filings, prompting speculation that approvals may be on the horizon. Bloomberg ETF analyst Eric Balchunas hinted that the SEC might
Coinbase, one of the leading cryptocurrency exchanges, has stated that they believe there is a 30% to 40% chance of the SEC approving spot Ethereum ETFs by the end of the month. This prediction comes from their Institutional Research Analyst, David Han. He pointed out that the correlation between CME futures products and spot exchange
The US Treasury Department has laid out a comprehensive plan to tackle the risks posed by cryptocurrencies and other emerging technologies in its 2024 National Strategy for Combating Terrorist and Other Illicit Financing. The strategy aims to address the evolving threat environment where criminal organizations are increasingly using digital assets for illegal activities such as
Deutsche Bank has recently made headlines with its increased involvement in digital assets and tokenization by participating in the Monetary Authority of Singapore’s Project Guardian. This innovative initiative aims to test asset tokenization applications in a regulated environment, focusing on their viability and potential integration within financial markets. Joining forces with Memento Blockchain and Interop
Two US lawmakers, Senators Cynthia Lummis and Ron Wyden, have recently taken a stand against the Department of Justice’s attempt to expand the definition of a money-transmitting business. They argue that the DOJ’s broad interpretation could potentially criminalize non-custodial crypto asset software services. The Senators emphasized that such an expansive interpretation contradicts both the clear
