Web3/Crypto news and reports on Federal Newswire

Meir Zohar, founder and CEO of Bringweb3, said that advances in the Web3 industry, along with Scott Bessent's nomination as President-elect Donald Trump's Treasury Secretary, could position the U.S. as a leader in financial technology innovation.

Ripple chief legal officer: SEC's record fines are 'an indictment of oversight gone terribly wrong'

Ripple Chief Legal Officer Stuart Alderoty has criticized the U.S. Securities and Exchange Commission's (SEC) record fines collected in 2024, describing them as indicative of inefficient oversight.

SEC enforcement record highlights $8.2 billion in penalties as crypto sector criticizes aggressive approach

On November 22, 2024, the U.S. Securities and Exchange Commission (SEC) reported $8.2 billion in financial remedies for fiscal year 2024, the largest in its history. This total includes $4.5 billion in penalties, largely attributed to enforcement actions within the cryptocurrency sector.

Crypto advocate claims Yellen’s departure could usher in a crypto-friendly era

U.S. Treasury Secretary Janet Yellen has announced she will step down at the end of President Joe Biden's term in January, a move that has sparked optimism in the cryptocurrency community about the potential for more favorable policies.

SEC chair candidate calls for crypto reform and innovation: 'Make the SEC Great Again'

On November 21, Teresa Goody Guillén, an attorney and blockchain expert, used X to propose reforms for the Securities and Exchange Commission (SEC), amid speculation that she may be a candidate for SEC Chair under the incoming Trump administration.

Ripple CEO: Nominee for new Treasury Secretary is 'pro-innovation, pro-crypto'

By Federal Newswire | Nov 26, 2024

Ripple CEO Brad Garlinghouse expressed optimism regarding Scott Bessent, President-elect Donald Trump's nominee for Treasury Secretary, suggesting that Bessent will support innovation and the digital asset industry.

Senator Lummis: SEC chair's resignation 'is welcome news for the digital asset industry'

By Federal Newswire | Nov 25, 2024

U.S. Senator Cynthia Lummis expressed her belief that the resignation of Securities and Exchange Commission (SEC) Chair Gary Gensler will benefit the digital asset industry and support financial innovation in the United States.

Rep. Nickel: SEC Chair's 'tenure has been marked by overreach, excessive and misguided rulemaking, regulation by enforcement'

By Federal Newswire | Nov 25, 2024

Rep. Wiley Nickel (D-NC) said that the resignation of SEC Chair Gary Gensler provides an opportunity for new leadership to collaborate with Congress in a bipartisan manner to maintain the U.S.'s leadership in financial technology.

Attorney: Next SEC chair 'must take a 'do no harm' approach to the regulation of crypto asset markets'

By Federal Newswire | Nov 25, 2024

Mike Selig, a partner at Willkie Farr & Gallagher, has called for the next chair of the U.S. Securities and Exchange Commission (SEC) to promote innovation in the cryptocurrency sector and to cease what he describes as the agency's "regulation by...

Crypto influencer: 'Looks bullish for crypto' as SEC leadership poised to change

By Federal Newswire | Nov 22, 2024

Crypto influencers are speaking about the potential impacts a change in U.S. Securities and Exchange Commission (SEC) leadership could have on the crypto industry.

Blockchain Association urges Trump administration to prioritize crypto regulation

By Federal Newswire | Nov 22, 2024

The Blockchain Association has reached out to President-elect Trump and the incoming Congress, submitting a letter that outlines key priorities for the digital asset industry.

Major Crypto Exchanges show US user activity despite being banned from operating in the country

Nearly one million U.S. users engaged with the apps of Bybit, Bitget, and OKX in August 2024, despite these platforms explicitly prohibiting U.S.-based trading due to regulatory restrictions.

SEC Chair Gary Gensler to step down amid industry criticism

On November 21, Gary Gensler, Chair of the U.S. Securities and Exchange Commission (SEC), announced his resignation, effective January 20, 2025.

Court strikes down SEC's dealer rule following legal challenge

The United States District Court of the Northern District of Texas has ruled that the Securities and Exchange Commission (SEC) exceeded its statutory authority with its dealer rule, which has now been struck down.

Coin Center anticipates mixed crypto policy changes under new administration

Crypto policy was a significant topic in the recent election, raising questions about how supportive the new administration and Congress will be.

Scimeca on SEC Chief Gary Gensler: ‘We're trying to invite him out the door and maybe get a singer and carolers or a chorus of people to join us’

By Kyle Barnett | Nov 16, 2024

Consumer Action for a Strong Economy (CASE), a business advocacy group, has launched a six-figure advertising campaign aimed at removing Securities and Exchange Commission (SEC) Chairman Gary Gensler.

Head of Bitcoin Fog cryptocurrency mixer sentenced for laundering $400 million in crypto over twelve years

By Federal Newswire | Nov 15, 2024

Roman Sterlingov, a dual Russian-Swedish national, has been sentenced to 12 years and six months in prison for his role in operating Bitcoin Fog, a notorious cryptocurrency "mixer" that facilitated the laundering of over $400 million in illicit funds.

Sen. Lummis: Strategic Bitcoin reserve would be 'a game changer for the solvency of our nation'

By Federal Newswire | Nov 14, 2024

U.S. Senator Cynthia Lummis has expressed her belief that establishing a strategic Bitcoin reserve is feasible in the near future and could enhance U.S. financial stability.

MANTRA CLO: 'House and the Senate agreed that [SAB109] was a terrible idea'

By Federal Newswire | Nov 13, 2024

Stephen Peepels, chief legal officer at MANTRA, said that the Senate passed stablecoin regulation, but later both the "House and the Senate" agreed that SAB109 was a "terrible idea," resulting in a veto.