Recent developments from the US Securities and Exchange Commission (SEC) signify a transformative change in the regulatory landscape for cryptocurrency custody. With the introduction of Staff Accounting Bulletin (SAB) 122, the SEC has replaced the controversial SAB 121, which had drawn criticism for its complex regulatory framework. The March 2023 update illuminates how this move
Regulation
In a pivotal move for the emerging field of digital assets, Senator Cynthia Lummis (R-Wyo.) has been appointed as the inaugural chair of the Senate Banking Subcommittee on Digital Assets. This announcement, made on January 23, sets the stage for Lummis to spearhead legislative initiatives aimed at establishing a robust regulatory framework for blockchain technology
The intersection of technology and law is increasingly becoming a battlefield, particularly as the digital world evolves and privacy-enhancing technologies emerge. Roman Storm, the co-founder of Tornado Cash, has been thrust into this fray following his prosecution, which he describes as a grave threat to privacy. This unique case not only places Storm at the
The evolving landscape of cryptocurrency has prompted regulatory bodies to reassess their approaches, and the U.S. Securities and Exchange Commission (SEC) is no exception. Recently, on January 21, the SEC announced the establishment of a dedicated crypto task force, spearheaded by Commissioner Hester Peirce, colloquially known as “Crypto Mom.” This initiative marks a significant pivot
In a significant shift for the U.S. Securities and Exchange Commission (SEC), President Donald Trump has appointed Mark Uyeda as the acting chair effective January 20. This move comes simultaneously with the resignation of Gary Gensler, who had been at the helm of the SEC during a time of rapid evolution in the financial landscape,
Caroline Pham’s recent selection as acting chair of the Commodity Futures Trading Commission (CFTC) marks a significant moment for the regulatory landscape of cryptocurrency in the United States. Her appointment, backed by a vote from the CFTC’s five commissioners, comes at a pivotal time when the crypto industry is grappling with rapid changes and heightened
The European crypto landscape is preparing for a monumental shift as the Markets in Crypto-Assets Regulation (MiCA) moves into effect. This innovative set of rules aims to unify regulations pertaining to transparency, anti-money laundering (AML), and consumer protection within the cryptocurrency space. While MiCA promises to fortify trust and stimulate growth, the issue remains: is
As the cryptocurrency market continues to evolve, Nasdaq’s recent move to file a 19b-4 Form on January 16th for the listing and trading of a spot Litecoin (LTC) exchange-traded fund (ETF) is particularly noteworthy. Registered by Canary Capital, this development marks a potential breakthrough as it is anticipated to be the first altcoin-related ETF approved
The legal saga involving the United States Securities and Exchange Commission (SEC) and Ripple Labs is far from over. Recently, the SEC filed an opening brief in a bid to overturn a court ruling that largely favored Ripple, particularly regarding the treatment of its cryptocurrency, XRP. This litigation, which began in December 2020, has evolved
The intersection of government actions and cryptocurrency has never been more contentious, especially with the recent developments surrounding the proposed liquidation of 69,370 Bitcoins (BTC) linked to the Silk Road. Senator Cynthia Lummis has been vocally critical of these plans, directing her concerns towards US authorities and highlighting the broader implications these decisions may hold
