On Sept. 8, Coinbase announced it was bankrolling a lawsuit against the United States Treasury Department. The cryptocurrency exchange is funding a lawsuit brought by six people that challenges the sanctions on Tornado Cash. And on Sept. 9, Securities and Exchange Commission (SEC) Chair Gary Gensler announced he was working hard with Congress to create legislation
Regulation
As directed by the President of the United States, Joe Biden, the Office of Science and Technology Policy (OSTP) submitted a report analyzing the design choices for 18 central bank digital currency (CBDC) systems for possible implementation in the US. The technical analysis of the 18 CBDC design choices was made across six broad categories
The United States Department of Justice (DOJ) published its latest report in response to President Joe Biden’s March executive order (EO) on the development of digital assets on Sept. 16. At the same time, it announced the formation of a new Digital Asset Coordinator Network (DAC) “in furtherance of the department’s efforts to combat the
The United States Treasury Department released three publications related to digital assets Friday, in response to U.S. President Joe Biden’s Executive rder “Ensuring Responsible Development of Digital Assets.” One of them focuses specifically on crypto assets, and a shorter action plan looks at countering illicit finance risks. The discussion of crypto assets in “Crypto-Assets: Implications
United States President Joe Biden ordered more than a dozen reports to be written when he released his Executive Order (EO) 14067 “Ensuring Responsible Development of Digital Assets.” Five had due dates within 90 days, and the last three were published simultaneously by the Treasury Department on Sept. 16. The reports were prepared in response
Members of the crypto space and advocacy groups reacted to United States President Joe Biden’s administration releasing a regulatory framework on digital assets, with many suggesting the White House focused on the potential negative aspects of crypto. In a Friday announcement, the White House said that federal agencies and departments had submitted nine reports as
Following United States President Joe Biden’s executive order on Ensuring Responsible Development of Digital Assets, federal agencies came up with a joint fact sheet on six principal directions for the crypto regulation in the U.S. It sums up the content of nine separate reports, which have been submitted to the President to “articulate a clear
Despite enforcing a major cryptocurrency ban one year ago, the Chinese government still protects local crypto investors as crypto is recognized as virtual property protected by the law. One of the world’s most hostile countries toward Bitcoin (BTC), China has not yet banned the possession of cryptocurrencies, according to David Lesperance, founder of Lesperance &
Ethereum’s upgrade to proof-of-stake (PoS) may make it more vulnerable to government intervention and censorship, according to the lead investigator of Merkle Science. Speaking to Cointelegraph following the Ethereum Merge, Coby Morgan, a former FBI analyst, and the Lead Investigator for crypto compliance and forensic firm Merkle Science expressed his thoughts on some of the
Ethereum’s upgrade to proof-of-stake may have placed the cryptocurrency back in the crosshairs of the Securities and Exchange Commission (SEC). Speaking to reporters after the Senate Banking Committee on Sept. 15, SEC chairman Gary Gensler reportedly said that cryptocurrencies and intermediaries that allow holders to “stake” their crypto may define it as a security under the Howey
The United States Department of the Treasury added five cryptocurrency addresses tied to a neo-Nazi group involved in Russia’s war on Ukraine to list of entities sanctioned by the Office of Foreign Asset Control. In a Thursday notice, the U.S. Treasury designated 22 individuals and 2 entities, including many the government department claimed had furthered
Representatives of the crypto community shared their responses to the proposed Digital Commodities Consumer Protection Act (DCCPA) on Sept. 15. Speaking at the second panel of a hearing held by the Senate Agriculture Committee, invited speakers praised the bill as a whole, but had recommendations for improvement. Definitions were an issue for all five of
The Monetary Authority of Singapore, or MAS, has granted SBI Digital Markets, a subsidiary of the digital asset arm of Japan-based financial giant SBI Holdings, a license to conduct certain regulated activities in the country. In a Thursday announcement, MAS said it had awarded SBI Digital Markets a Capital Markets Services license following the firm
According to local news outlet gynews.kr, the Seoul Southern District Prosecutors’ Office’s Joint Financial Securities Crime Investigation Team says it will be contacting the country’s Ministry of Foreign Affairs to nullify the passports of Terra Luna co-founder Do Kwon and five other project developers. Prosecutors also plan to contact Interpol and escalate the South Korean
Rostin Behnam, chair of the United States Commodity Futures Trading Commission, or CFTC, said the Ethereum blockchain’s transition to proof-of-stake may help reduce crypto’s energy usage, but hinted legislation would likely still be needed to address the problem. Speaking at a Thursday hearing before the Senate Agriculture Committee, Behnam addressed a question from Minnesota Senator
Sheila Warren, CEO of the Crypto Council for Innovation, said the Digital Commodities Consumer Protection Act currently being considered by U.S. lawmakers was a “pivotal step” towards achieving regulatory clarity, but recommended changes to determine the role authorities will take on digital assets. In written testimony for a Wednesday hearing on the bill with the
With the Trade Ministry officially approving the use of cryptocurrencies for foreign trade, Iran will become the first-of-a-kind adopter in the world. The obvious problem with the news is that the country’s innovative policy obviously aims at circumventing financial sanctions that have been hampering its participation in the global economy for many years. These circumstances
The Securities and Exchange Commission (SEC) of Thailand is preparing to take radical measures in the aftermath of crypto lending platforms’ crashes experienced in Summer 2022. Thai SEC plans to prohibit crypto platforms from providing or supporting digital asset depository services. The announcement, published on the official webpage on Sept. 15, reports that the SEC
A federal judge overseeing crypto lender Celsius’ bankruptcy case has given the green light for the motion to appoint an independent examiner to investigate aspects of Celsius’ business. In an order dated Sept. 14 from the United States Bankruptcy Court of the Southern District of New York, the order notes the examiner’s investigation will look into
On Sept 14, Coinbase Co-Founder and CEO Brian Armstrong announced the company’s plans to begin integrating crypto policy efforts into its app. According to him, this will help the company’s 103 million verified users know where their local political leaders and representatives stand when it comes to cryptocurrency. 1/ Starting today, Coinbase will begin integrating