The Federal Open Market Committee (FOMC) held a meeting in September to discuss the current economic environment and its impact on monetary policy. Despite facing a complex set of challenges, the committee confirmed its commitment to raising interest rates, with many participants anticipating at least one more increase in the near future. One of the
Regulation
Elon Musk finds himself in a difficult situation as he attempts to contest the U.S. Securities and Exchange Commission (SEC). The SEC recently announced legal action against Musk seeking to compel him to comply with a subpoena related to his acquisition of Twitter (now X). Despite receiving the subpoena in May, Musk attempted to avoid
On October 5th, Elon Musk, the owner and Chief Technology Officer of X (formerly Twitter), took to Twitter to voice his opinion on the state of the United States’ regulatory agencies. In a tweet, Musk called for a comprehensive overhaul of these agencies and the establishment of a commission to punish individuals who have abused
India’s crypto ecosystem has received a glimmer of hope following the conclusion of the G20 summit. The summit, which represents the most influential economies worldwide, has fully endorsed the recommendations from the IMF and FSB as a Synthesis paper. These guidelines aim to provide a clear path for the policy and regulatory framework for crypto
Ripple (XRP) CEO Brad Garlinghouse recently made a significant move by meeting with members of the U.S. Congress to discuss the issue of regulatory clarity in the cryptocurrency industry. In a social media post, Garlinghouse expressed the importance of engaging with elected officials who are proposing bills in order to achieve regulatory clarity. This proactive
Cryptocurrencies have long been a subject of scrutiny when it comes to their potential for money laundering and illicit activities. Senator Elizabeth Warren has taken a proactive stance on this issue, introducing a bipartisan cryptocurrency anti-money laundering bill. This legislation has gained significant support from influential committee chairs and senators, signaling a growing recognition of
The recent early dismissal of BlackRock’s planned spot Bitcoin exchange-traded fund (ETF) may seem like a setback, but according to Nasdaq executive Giang Bui, it is unlikely to affect the eventual success of the product. While the rejection by the U.S. Security and Exchange Commission (SEC) was based on regulatory procedural issues, it does not
The new financial promotions regulations imposed by the UK Financial Conduct Authority (FCA) are creating significant challenges for crypto firms, according to Delphi Labs general counsel Gabriel Shapiro. In a recent post on X, Shapiro expressed his concerns about the feasibility of strict compliance with these regulations. He believes that only centralized exchanges and a
In a recent report, it has been revealed that Luna, a subsidiary of Digital Currency Group (DCG), is planning to pause certain services in the United Kingdom. This decision comes ahead of new regulations set by the U.K.’s Financial Conduct Authority (FCA) and will have a significant impact on the crypto trading features offered by
G20 leaders are taking significant steps towards the establishment of a Crypto Asset Reporting Framework. This new framework aims to collect and exchange information about the use of cryptocurrency and digital assets among G20 member countries. The primary objective behind this initiative is to ensure that individuals and entities utilizing cryptocurrency are not evading taxes.
