U.S. Senator Cynthia Lummis has filed an amicus brief in support of Coinbase’s motion to dismiss the U.S. Securities and Exchange Commission (SEC) lawsuit. In her brief, Senator Lummis highlights the ongoing debates in Congress regarding cryptocurrency regulation and argues that the court should dismiss the SEC’s case, allowing Congress to develop balanced regulations. This
Regulation
The U.S. Securities and Exchange Commission (SEC) has recently announced a settlement of $24 million with Bittrex and its former CEO, William Shihara. This settlement follows a series of allegations made by the SEC against Bittrex. One of the prominent allegations was that coin issuers looking to list their tokens on the exchange were instructed
Bitstamp, a popular cryptocurrency exchange, has recently announced its decision to halt U.S. trading for several cryptocurrencies due to increasing regulatory concerns. The company revealed that it would be blocking U.S. users from trading Axie Infinity (AXS), Chiliz (CHZ), Decentraland (MANA), Polygon (MATIC), Near Protocol (NEAR), The Sandbox (SAND), and Solana (SOL). These delistings come
Cryptocurrency exchange Binance has made history by becoming the first licensed crypto platform in El Salvador. This achievement comes after Binance received two licenses from the Central Bank of El Salvador and the National Commission of Digital Assets. The licenses obtained are the Bitcoin Services Provider (BSP) license and the non-provisional Digital Assets Services Provider
The Federal Reserve Board has taken a significant step towards regulatory oversight of rapidly advancing technologies within the banking sector with the creation of the Novel Activities Supervision Program. This program aims to oversee complex partnerships with non-banks, crypto-asset-related activities, distributed ledger technology, and concentrated provision of banking services to crypto-asset-related entities and fintechs. By
Worldcoin, a global World ID verification project, has recently claimed that its demand doubled during the first week of its launch. Despite the initial regulatory challenges it faced across multiple jurisdictions, the release of new Orbs worldwide contributed to the surge in weekly verifications. This growth adds to the already high verifications rate the project
In a recent letter, US Senators, led by Elizabeth Warren, have called for prompt action to implement new tax reporting requirements for digital asset brokers. The need for these requirements stems from the Infrastructure Investment and Jobs Act (IIJA) enacted nearly two years ago, which aimed to address the estimated $50 billion crypto tax gap
In a recent statement shared on Kenya’s Ministry of the Interior official Facebook page, it was announced that the Kenyan Government has suspended the activity of Worldcoin, the digital identity crypto project. This comes as a response to concerns regarding the project’s collection of biometric data, specifically, iris and eyeball data. The Capital Markets Authority
Miami mayor Francis Suarez recently found himself embroiled in controversy when it was revealed that his presidential campaign received a massive $500,000 donation from PassionForest, LLC, a crypto firm. The donation, made on October 28, 2022, attracted the attention of the Campaign Legal Center, which filed a complaint on July 25, 2023, alleging that PassionForest
Binance, the leading digital asset exchange, has made history by becoming the first exchange to receive an Operational Minimum Viable Product (MVP) license from Dubai’s Virtual Assets Regulatory Authority (VARA). This achievement is particularly significant as Binance faces regulatory challenges in various European countries. With the Operational MVP license, Binance FZE, the Dubai subsidiary, can
