Regulation

Japananese prime minister Fumio Kishida reaffirmed the country’s commitment to foster the Web3 industry, highlighting its potential to transform the internet and kindle social change.  Kishida made the comments in a keynote address on day one of the WebX conference in Tokyo, Japan as initially reported by local media outlet CoinPost. On the same day,

Wyoming is beginning its work on the state’s stablecoin, or, as it’s called officially, the “stable token” project, by opening a job position for a head of the stable token commission. The potential executive will lead a team, responsible for making a proper legislative framework for the project.  The position was opened on the federal

Since 2022, there have been at least 50 digital asset bills reportedly introduced to Congress, aiming to govern everything from stablecoins to the jurisdictions of United States regulators. However, at least four of them are seen as potentially having a major impact on the industry (if passed) — given the attention from lawmakers and the

Crypto exchange Binance and its CEO Changpeng “CZ” Zhao are planning to file a motion to dismiss a March-filed lawsuit from the United States commodities regulator. In a July 24 filing to an Illinois District Court, multiple Binance entities, Zhao and former chief compliance officer Samuel Lim said they plan to file two separate motions

Last week was marked by two new legislative initiatives for the crypto industry in the United States. Senator Jack Reed sponsored a bipartisan bill that would tighten Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations and sanctions requirements for decentralized finance (DeFi). The bill would subject DeFi operations to the same requirements as “other

The United States Government Accountability Office (GAO), a Congressional watchdog agency, has released a report it completed in June on the regulatory framework for the use of blockchain in finance.  The 77-page report was requested by Reps. Maxine Waters and Stephen Lynch before the midterm elections, when they were the chair and ranking member of

The federal judge overseeing the criminal case against former FTX CEO Sam Bankman-Fried (SBF) has proposed an order preventing all involved parties and their attorneys from largely contacting the media. In a July 24 letter filed with United States District Court for the Southern District of New York, Judge Lewis Kaplan drafted a proposed order

Coinbase CEO Brian Armstrong has reportedly said United States lawmakers have a renewed focus on regulatory clarity in the crypto space following talks with key officials. According to a July 24 Axios report, Armstrong met with U.S. lawmakers on July 20 ahead of discussions and votes on pieces of legislation aimed at providing regulatory clarity

Celsius was one of the top lenders in the crypto ecosystem during the bull market in 2021. At its peak, it served 1.7 million customers and managed $25 billion in assets. All that came crashing down in June 2022 amid major flaws in the company’s working structure. The bear market in 2022, especially the Terra

Russia is moving forward with its central bank digital currency (CBDC), after President Vladimir Putin signed the digital ruble bill into law on July 24 according to an official document published by the state. With this approval, the digital ruble law is now officially scheduled to take effect from Aug. 1, 2023, with all but

The recent court ruling that Ripple’s XRP (XRP) token is not considered a security when sold on digital asset exchanges has sparked a wave of positive sentiment across the cryptocurrency ecosystem.  Stuart Alderoty, chief legal officer at Ripple, told Cointelegraph that he believes the most important part of this ruling is that the court unequivocally

Several private banks in South Korea are studying the potential of tokenized deposit technology, an alternative to both private stablecoins and central bank digital currencies (CBDCs).  According to a report from Maeli Business News Korea, Hana Bank and Woori Bank — both private enterprises with headquarters in Seoul — showed interest in so-called “certificate of

The Chairman of the House Financial Services Committee (FSC), Patrick McHenry, announced a markup of a few legislations, three aimed at providing regulatory clarity for the digital asset ecosystem — cryptocurrencies, blockchain development and stablecoin payments. The Committee on Financial Services will meet on July 26 to markup H.R. 4763, the Financial Innovation and Technology

United States Republican Representative Warren Davidson has spoken out against Central Bank Digital Currencies (CBDCs), urging Congress to ban them and criminalize its development. In a July 23 Twitter post, Congressman Davidson accused the Federal Reserve of “building the financial equivalent of the Death Star,” stating that CBDCs corrupts money into a tool for coercion

San Francisco’s Federal Reserve Bank is seeking a crypto architect for a central bank digital currency (CBDC) project, reveals an Indeed job posting. According to the role description, the employee will work on CBDC research and development. The position is full-time and hybrid, with an annual salary starting at $134,900, requiring candidates to have “knowledge of

Several counties in the U.S. state of Arkansas are rushing to pass emergency legislations allowing them to control noise and other activities related to crypto mining before a new state law comes into effect on August 1, according to local media reports.  The new state law brings crypto mining facilities under the same regulations applied

Amidst speculations that a potential appeal by the US SEC could negatively impact the crypto market, Pro-XRP lawyer, Attorney John Deaton has made it clear that even in the event of an appeal by the agency, it would not significantly affect XRP holders. After the judge’s ruling stating that the programmatic sale of XRP tokens

Terraform Labs faces a “big hill to climb” as the progress of its various projects in development are constantly being impeded by frequent accusations, according to Terra’s new interim CEO Chris Amani. During a July 20 Twitter Spaces, titled A Terra Community Talk, Amani joined several Terra employees to discuss the challenges ahead for Terra

Payment protocol Ripple has recently applied for a registration as a crypto asset firm with the United Kingdom’s Financial Conduct Authority (FCA), a spokesperson for the firm told Cointelegraph. The company is also seeking a payments license in Ireland as part of its massive investment in the region. The registration was submitted after Ripple’s partial

Bankrupted crypto lender Celsius Network reached two settlements that allows it to return assets to customers and end its bankruptcy proceedings, according to court filings on July 20.  The settlements will be analyzed by Judge Martin Glenn at a hearing on August 10 and address $78.2 billion in unsecured claims. Any responses and objections should