The New York Attorney General’s Office (NYAG) has recently expanded its fraud claims against Digital Currency Group (DCG) and its affiliates, asserting that the losses incurred now amount to a staggering $3 billion. The lawsuit, which initially alleged losses of over $1 billion, has been amended to include an additional $2 billion in losses, affecting
Regulation
The Bank for International Settlements (BIS) has recently released a comprehensive report that sheds light on the potential risks and concerns surrounding the metaverse, a virtual digital ecosystem that has garnered significant attention in recent years. This article aims to analyze the report and delve into the challenges and opportunities that lie ahead for the
The recent joint application by Ark Invest and 21Shares for a spot Ethereum exchange-traded fund (ETF) has attracted significant attention in the crypto community. However, a closer analysis of the amended S-1 filing reveals some important limitations and uncertainties surrounding this proposed ETF. In this article, we will delve into the details of the filing,
Grayscale CEO Michael Sonnenshein emphasized the importance of advocating for the development of a robust listed options market for spot Bitcoin exchange-traded funds (ETFs). In a statement on Feb. 5, Sonnenshein expressed his belief that it has never been more crucial to push for the approval of spot Bitcoin ETF options. The absence of listed
The Internal Revenue Service (IRS) recently issued a reminder to all taxpayers to report any income related to digital assets. The IRS defines digital assets as including convertible virtual currency and cryptocurrency, stablecoins, and non-fungible tokens (NFTs). The agency has expanded the number of forms that include the question about digital assets and requires all
Sen. Elizabeth Warren recently made comments that have drawn significant backlash from the cryptocurrency community. Her remarks, based on a report from the U.S. Government Accountability Office (GAO), suggested that cryptocurrency is being used by “rogue nations” to evade sanctions and pose threats to national security. However, many in the crypto community argue that her
The U.S. Securities and Exchange Commission (SEC) has recently initiated a comment period on proposals related to options trading on Bitcoin exchange-traded funds (ETFs). This article aims to provide an analysis of the SEC’s proposed rule changes and their potential impact on the cryptocurrency market. Proposed Rule Change for Nasdaq One of the SEC notices
The U.S. Securities and Exchange Commission (SEC) recently announced that it has delayed its decision on Fidelity’s proposed spot Ethereum ETF. This decision pertains to a proposed rule change that would permit Cboe BZX to list and trade shares of Fidelity’s planned fund. Originally filed on November 17, 2023, the proposed rule change was published
In the ongoing court battle between Coinbase and the U.S. Securities and Exchange Commission (SEC), a hearing was held on January 17th to discuss the charges brought against Coinbase. The SEC accused Coinbase of operating an unregistered national securities exchange, broker, and clearing agency, as well as conducting an unregistered sale and offering of securities
With the increasing misuse of cryptocurrency mixers for illicit financial activities, South Korean financial authorities are considering the implementation of specific regulatory measures to curb money laundering by criminal organizations. Originally designed to protect privacy, mixers are now being exploited by criminals, posing a significant risk to the country’s financial system. Cryptocurrency mixers, also known
