The recent decision by the SEC to close its investigation into Ethereum 2.0 has stirred up significant debate within the blockchain community. This development follows a letter from Consensys seeking clarity on the classification of ETH sales as securities transactions. Consensys’s announcement of the SEC’s decision as a victory for Ethereum developers and industry participants
Regulation
The US Securities and Exchange Commission (SEC) has expressed worries regarding Circle’s stablecoin, USDC, as the company moves forward with plans to go public in a substantial initial public offering (IPO). According to reports from Barron’s, the regulatory agency has raised red flags about the potential classification of USDC and other stablecoins as securities under
Recent reports have surfaced regarding the Financial Supervisory Service (FSS) in South Korea instructing registered crypto exchanges to evaluate various tokens on their platforms. This directive is in line with the Virtual Asset User Protection Act, which requires exchanges to adhere to strict compliance and conduct regular assessments of listed tokens. The law also mandates
The Securities and Exchange Commission’s (SEC) crypto asset enforcement chief, David Hirsch, made headlines on June 17 when he announced his departure from the agency. After nearly nine years of service at the SEC, Hirsch expressed his pride in the groundbreaking work accomplished by the Crypto Assets and Cyber Unit team under his leadership. Taking
Throughout history, the evolution of currency has played a defining role in shaping human societies. While primitive bartering systems eventually gave way to standardized coins and paper money, the post-World War II transition to fiat currency marked a significant shift in the financial landscape. Fiat currency, which derives its value from government regulation rather than
Asset tokenization, including tokenization of securities, has been recognized as a promising innovation with various potential benefits. SEC Commissioner Mark Uyeda highlighted the advantages of representing asset rights with digital tokens on a blockchain. He emphasized that this approach can offer enhanced security, transparency, and immutability. In addition, Uyeda pointed out that tokenization eliminates the
The European Banking Authority (EBA) recently released comprehensive guidelines aimed at addressing recovery plans for issuers of asset-referenced tokens (ARTs) and e-money tokens (EMTs). These guidelines form part of the broader Markets in Crypto-Assets (MiCA) regulation, which governs the issuance and operation of digital tokens in the European Union. ARTs are tokens backed by tangible
Coinbase recently expressed its concerns regarding the SEC’s $2.6 billion budget request for the upcoming fiscal year. According to a statement provided to CryptoSlate on June 13, a representative from Coinbase highlighted that the SEC consistently asks for more money to fuel its enforcement activities, while neglecting to allocate funds towards creating clear and workable
The Chair of the Commodity Futures Trading Commission (CFTC), Rostin Behnam, recently spoke before the Senate Committee on Appropriations regarding the agency’s readiness to take on additional crypto responsibilities. Behnam firmly denied any suggestion that the CFTC would be overwhelmed if given more authority in the crypto space. He argued that crypto commodities already fall
With the recent $4.5 billion SEC settlement, Terraform Labs CEO Chris Amani has made the decision to wind down the company and transition Terra into a community project. Amani emphasized the need for the community to take over ownership of the chain, signaling a shift in direction for the project. This move indicates a decentralization
