In a bold move, the Blockchain Association and the Crypto Freedom Alliance of Texas have decided to take legal action against the US Securities and Exchange Commission (SEC). Their argument revolves around the SEC sanctioning a rule that redefines the parameters for what constitutes a “dealer” of securities. According to these groups, the SEC’s actions
Regulation
In a recent statement to CryptoSlate, stablecoin issuer Tether declared its commitment to freezing any addresses associated with sanctioned entities. This decision comes after reports surfaced suggesting that certain state actors were using Tether’s USDT tokens to bypass US sanctions. A spokesperson for the firm emphasized, “Tether respects the Office of Foreign Assets Control (OFAC)
The recent resignation of two SEC lawyers, Michael Welsh and Joseph Watkins, comes as no surprise given the controversies surrounding their handling of the legal case against crypto firm DEBT Box. According to reports, the two attorneys resigned in April after facing pressure from the regulator. It is concerning that neither lawyer responded to requests
The Hong Kong Securities and Futures Professionals Association (HKSFPA) has put forward a proposal to establish independent self-regulatory organizations (SRO) specifically dedicated to overseeing the digital assets sector. This initiative comes in response to the rapid growth and increasing complexity of the industry. The goal is to enhance the regulatory landscape in order to support
The impending MiCA regulation is set to reshape the crypto industry, requiring crypto companies to ensure compliance for a smooth transition. As MiCA seeks to bring clarity and security to the crypto-asset market, companies operating in this space need to make significant adjustments to their processes to align with the new regulatory environment. MiCA mandates
The US SEC recently filed an amended complaint in its case against Justin Sun and other defendants, arguing that Sun’s alleged visits to the US should grant it the jurisdiction required to pursue legal action. According to the regulator, Sun traveled extensively to the US while he and several companies carried out unregistered offers and
The recent introduction of the Lummis-Gillibrand Payment Stablecoin Act has sparked controversy within the crypto industry. Critics, including former Blockchain Association member Jake Chervinsky, have expressed strong opposition to the proposed bill. Chervinsky labeled the act as “deeply flawed” and warned that it would only allow for centralized and custodial stablecoins. He emphasized the importance
The provincial government of Buenos Aires has taken legal action against Worldcoin for allegedly violating consumer laws with its user agreement. The government claims that the agreement contains abusive clauses that allow Worldcoin to interrupt services without providing repair or reimbursement to users. Additionally, users are required to surrender their rights to collective complaints, with
Discussions between House leaders and Senate Majority Leader Chuck Schumer have raised the possibility of taking action on stablecoin legislation during this summer’s session. This key area of financial technology is in need of regulatory clarity, and House Financial Services Chair Patrick McHenry and ranking member Maxine Waters recently met with Schumer to discuss this
The issue of data ownership on the blockchain presents a challenging dilemma. On one hand, there is a desire for transparency and immutability that can disrupt the control of data by large entities. However, on an individual level, there is also a need for personal autonomy over one’s own data. Finding a balance between these
