House Majority Whip Tom Emmer recently expressed his concern regarding the government’s data collection on Bitcoin mining firms. Emmer pointed out in a letter to the Office of Management and Budget (OMB) that the approval and expedited request from the Energy Information Administration (EIA) signal a new and mandatory information collection regime. The fact that
Regulation
South Africa recently unveiled plans to integrate digital payments and cryptocurrencies into its financial system as part of its 2024 budget. The government aims to boost the economy, particularly for marginalized communities, through increased collaboration between the public and private sectors to foster financial innovation. The primary goal is to improve access to digital payment
In a recent development, Ladan Stewart, a key member of the US Securities and Exchange Commission’s legal team, has decided to leave her position to join a pro-crypto law firm. This move highlights the increasing importance of legal expertise in the cryptocurrency industry and the complexities surrounding regulation in this space. New Role at White
On Feb. 21, Bayo Onanuga, a special adviser to Nigerian President Bola Tinubu, accused Binance of “blatantly setting exchange rate for Nigeria, hijacking CBN role,” in a scathing attack on social media platform X. He continued, “The EFCC and the CBN should move against these platforms trying to manipulate our national currency to Ground Zero.
The Hong Kong Monetary Authority (HKMA) recently introduced new regulatory standards for tokenized financial products in an effort to promote innovation and protect consumers. This initiative comes as a response to the rapid advancement in tokenization technologies and their increasing application in the financial sector. The guidelines aim to establish clear principles for the sale
In a bold strategic maneuver leading up to the impending general elections, South Korea’s ruling party, the People Power Party (PPP), has made headlines with their announcement to advocate for a further two-year postponement in the enforcement of crypto taxation, as reported by local media on Feb. 19. During a press conference on Feb. 19,
As the Bitcoin industry in the US eagerly anticipates the launch of a Bitcoin ETF, concerns are rising about the potential impact on the industry. With major institutions like Goldman Sachs and JPMorgan expected to be custodians of the ETFs, there is a looming threat of Bitcoin being held not by individual investors, but by
The US Security and Exchange Commission’s (SEC) Office of Inspector General (OIG) is currently conducting an investigation into cryptocurrency-related financial conflicts of interest. This inquiry was prompted by the accountability group Empower Oversight, which uncovered concerning information about the SEC’s Ethics Office and a former official named William Hinman. Hinman is specifically accused of participating
A significant milestone has been achieved in Iowa with the approval of House File 2519 by the Judiciary Committee. This digital asset bill is a progressive step towards integrating digital assets and electronic records into commercial transactions. The bill focuses on enhancing legal clarity and security in digital transactions to cater to the evolving digital
The perception that cryptocurrency plays a significant role in funding terrorist activities has been challenged by Brian Nelson, the Undersecretary for Terrorism and Financial Intelligence at the US Department of the Treasury. In his testimony before the House Financial Services Committee, Nelson provided insights that debunked the widely held beliefs surrounding the involvement of crypto
