Latest News
By Federal Newswire Report | Jul 28, 2023
According to a recent survey by the CFA Institute, investment professionals in emerging markets, especially in China and India, are more supportive of central bank digital currencies (CBDCs) compared to those in developed markets. Meanwhile, the High Court of Singapore ruled that cryptocurrency is property capable of being held in trust, and the judge highlighted that he sees no difference between crypto, fiat money, or other objects of value created by mutual faith in them.
By Federal Newswire Report | Jul 27, 2023
On July 12, Judge Analisa Torres of the Southern District of New York determined that when sold to members of the public, Ripple's XRP token does not constitute an "investment contract" and therefore is not a security.
By Federal Newswire Report | Jul 27, 2023
Existing regulations should be enforced upon crypto companies instead of inventing new ones, U.S. House Rep. Maxine Waters, D-Calif., said during a contentious House committee session this week.
By Federal Newswire Report | Jul 26, 2023
U.S. lawmakers issued a letter to Securities and Exchange Commission Chair Gary Gensler questioning his approach to digital asset regulation.
By Federal Newswire Report | Jul 26, 2023
Myanmar's first entirely crypto-based banking institution, the Spring Development Bank, which could expand access to financial services and funding for the country's shadow government and its citizens, was set to launch July 22.
By Federal Newswire Report | Jul 25, 2023
Ukraine's Ministry of Digital Transformation has partnered with Binance, the largest cryptocurrency exchange in the world, to launch a project called IT Generation. Oleksandr Borniakov, Ukraine's Deputy Minister of Digital Transformation, said in a July blog post the project has helped to provide Ukrainians with professional skills and opportunities in the tech sector.
By Andy Nghiem | Jul 24, 2023
A decade ago, a Bloomberg report called Feng Bo, the grandson-in-law of former paramount leader Deng Xiaoping, "an early investor in China's Internet startups." Today, Feng Bo's investment firm is linked to OKX, one of the largest cryptocurrency exchanges in the world.
By Federal Newswire Report | Jul 22, 2023
With Bitcoin (BTC) prices be particularly volatile of late, a well respected analyst told an industry publication the industry is taxing trader's patience.
By Federal Newswire Report | Jul 21, 2023
Bitcoin miners will continue to be front-and-center in the cryptocurrency industry but the way they are compensated is evolving, Luxor Mining founder and CEO Nick Hansen said in a news story published earlier today
By Federal Newswire Report | Jul 21, 2023
Congressman French Hill (R-AR), chairman of the Subcommittee on Digital Assets, Financial Technology and Inclusion, said he and other committee leaders have introduced a bill aiming to provide regulatory clarity to crypto market participants, protect consumers, and encourage innovators to remain in the U.S. The bill includes paths for industry participants to register with the Commodity Futures Trading Commission (CFTC) and the U.S. Securities and Exchange Commission (SEC) and directs both agencies to work with foreign regulators to develop international standards.
By Federal Newswire Report | Jul 20, 2023
Gary Gensler, the Chair of the United States Securities and Exchange Commission, has requested on July 20, 2023 "new tools, expertise, and resources" to address misconduct in the crypto space in the regulator's 2024 budget request. Gensler aims to increase the number of full-time positions at the SEC from 4,685 in 2023 to 5,139 in 2024 to handle the enforcement actions needed to address misconduct stemming from rapid technological innovation in the crypto space.
By Federal Newswire Report | Jul 19, 2023
Jarek Jakubcek, the head of Law Enforcement Training at Binance, the largest cryptocurrency exchange in the world, said he believes many law enforcement agencies have a positive impression of Binance because of its dedication to apprehending criminals who attempt to use their platform. Binance has collaborated on initiatives such as seizing funds from drug traffickers and a global anti-scam campaign.
By Federal Newswire Report | Jul 18, 2023
Democrat Congressman Ritchie Torres (NY-15) said in a letter to U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler that the judge's ruling in SEC vs. Ripple demonstrates that Gensler's claim that all digital assets except bitcoin are securities is false. Judge Analisa Torres of the Southern District of New York determined on July 12 that when sold to members of the public, Ripple's XRP token does not constitute an "investment contract" and therefore is not a security.
By Federal Newswire Report | Jul 18, 2023
Sen. Cynthia Lummis (R-Wyo.) tweeted her support of the Southern District of New York's decision in U.S. Securities and Exchange Commission vs. Ripple Labs Inc., stating the decision aligns with her proposed legislation on regulating the cryptocurrency industry.
By Federal Newswire Report | Jul 17, 2023
Binance, the largest cryptocurrency exchange in the world, announced July 13 that Eleanor Hughes has been appointed as the company's General Counsel. Hughes, a member of Binance's legal team since 2021, will oversee 85 lawyers and work closely with Binance's Compliance team.
By Federal Newswire Report | Jul 14, 2023
As part of a court order, the digital asset exchange company Kraken will be mandated to provide the Internal Revenue Service (IRS) with select user account and transaction information from 2016 to 2020.
By Federal Newswire Report | Jul 13, 2023
Mind Network, a Web3 data security and privacy platform, announced on June 30 that it had closed a $2.5 million seed round, which attracted key investors such as Binance Labs, the venture capital and incubation arm of Binance.
By Federal Newswire Report | Jul 13, 2023
Sen. Cynthia Lummis, R-Wyo., announced she and Sen. Kirsten Gillibrand, D-N.Y., are reintroducing their bipartisan Responsible Financial Innovation Act.
By Federal Newswire Report | Jul 10, 2023
Timothy Massad, a former chairman of the Commodity Futures Trading Commission (CFTC), and Jay Clayton, a former chairman of the Securities and Exchange Commission (SEC), said in a Wall Street Journal opinion piece that although they support enforcement in the digital asset industry, they believe that lawsuits alone are not the solution to regulating the industry.
By Federal Newswire Report | Jul 10, 2023
Jake Chervinsky, the chief policy officer of Blockchain Association, a nonprofit that advocates for "pro-innovation" policies for the digital asset industry, called on U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler to remove himself from the SEC's decision-making process for carrying out enforcement actions in the crypto industry, citing Gensler's assertion that all digital assets except bitcoin are securities. Chervinsky's statement comes amidst a wave of SEC enforcement actions against crypto companies, while industry participants and lawmakers are calling for clearer regulatory guidelines for the digital asset industry.
