Cryptocurrencies have become a significant challenge for law enforcement agencies around the world. The EU Innovation Hub for Internal Security recently released a report highlighting the difficulties faced by authorities in tracking and recovering illicit digital assets moved through decentralized methods using privacy coins, layer-2 networks, and crypto mixers. The report emphasizes how the reliance
Regulation
Tokenization is becoming increasingly prominent in the financial industry, with its potential to revolutionize traditional financial processes. DTCC Digital Assets global head and managing director Nadine Chakar recently testified before the House Financial Services Subcommittee on Digital Assets, highlighting the benefits of tokenizing real-world assets and its implications for the US financial markets. Chakar emphasized
The upcoming House Appropriation budget poses a significant challenge to the US Securities and Exchange Commission (SEC) in implementing its controversial Staff Accounting Bulletin 121 (SAB 121). The budget bill aims to prohibit the use of appropriated funds by the SEC to enforce the rule, creating a roadblock for the regulatory body. Political Dynamics in
The perception of cryptocurrencies in Washington is undergoing a significant transformation, according to Bitwise CIO Matt Hougan. In a recent memo, he highlighted the evolving attitude of US politicians towards crypto, noting a positive shift that has been largely overlooked by the market. Hougan believes that if the impact of this change had been properly
In a recent blog post titled “How to get regulatory clarity for crypto,” Coinbase CEO Brian Armstrong emphasized the importance of securing regulatory clarity for the crypto industry. He called for a unified effort to support pro-crypto political candidates and vote out anti-crypto incumbents. Armstrong highlighted the significant investment that Coinbase has made in policy
President Joe Biden’s recent decision to veto H.J. Res. 109, aimed at overturning the SEC’s controversial SAB 121 rule, has sparked mixed reactions among lawmakers and industry stakeholders. Biden cited the rule as representing the views of SEC staff and emphasized the importance of regulatory authority in protecting consumers and investors. Despite President Biden’s veto,
The potential launch of US spot Ethereum ETFs in June has been a topic of much speculation within the cryptocurrency community. Bloomberg ETF analyst Eric Balchunas suggested that there is a “legit possibility” of spot Ethereum ETFs being launched by the end of June. However, he also mentioned that an earlier mid-June launch would be
In a bold move on May 29th, SEC commissioner Hester Peirce proposed a groundbreaking idea for a shared digital securities sandbox between the US and the UK. This proposal aims to extend the existing joint digital securities sandbox (DSS) between the Bank of England and the UK’s FCA to include US firms. The implications of
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
The US District Court for the District of Utah has made a significant decision in the case involving the Security and Exchange Commission (SEC) versus DEBT Box. The court has dismissed the case without prejudice and imposed fines amounting to over $1.8 million on the SEC for bad faith conduct. These fines, which include attorney
