Federal Reserve Chair Jerome Powell has expressed concerns about the robust growth of the U.S. economy and its potential impact on inflation. Speaking at the Jackson Hole Economic Symposium, Powell acknowledged the uncertainties surrounding the economic outlook and emphasized the need for further restrictive monetary policies to mitigate inflationary pressures. Despite a decline in inflation
Regulation
U.K. regulators are cracking down on cold calls for consumer financial services, and the crypto sector is expected to be one of the industries affected. The initiative is part of the U.K. Treasury Fraud Strategy, which was introduced in May to combat fraudulent activities in the country. In a recent consultation paper published by His
Coinbase, one of the leading cryptocurrency exchanges, has made significant progress in its quest for regulation and transparency. The platform recently obtained regulatory approval from the National Futures Association (NFA) to operate as a Futures Commission Merchant (FCM). This is a crucial milestone in the evolution of crypto regulation in the United States. Breaking New
The cryptocurrency industry is eagerly awaiting a potentially momentous decision from the Securities and Exchange Commission (SEC) regarding Grayscale Investments. This decision, expected to be announced in the coming days, could have significant implications for the approval of Bitcoin exchange-traded products (ETPs). All eyes are on Blackrock’s recent filing, along with other asset managers, adding
According to former SEC attorney John Reed Stark, the current SEC, led by Chairman Gary Gensler, is facing significant regulatory concerns that make it unlikely for a Bitcoin spot ETF application to be approved. One of the major issues is the ability to prevent fraud and protect investors. Interestingly, Stark observed that the topic of
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
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
