Coinbase CEO Brian Armstrong expects US crypto regulation to move forward by mid-September, either through a Senate vote or new SEC and CFTC rules. His comments came after a White House meeting with President Donald Trump and crypto executives, as lawmakers prepare to revisit the CLARITY Act. Armstrong Lays Out Two Paths to Clarity Armstrong […]
Coinbase recently filed a formal comment letter with the Commodity Futures Trading Commission (CFTC), arguing that prediction markets are derivatives that fall under federal jurisdiction and should stay there. The company warned that letting states write their own rules for these markets would recreate the regulatory “total chaos” that Congress built the federal derivatives framework […]
The SEC issued an interpretation on Tuesday clarifying how federal securities laws apply to certain crypto assets and transactions involving cryptocurrencies. This is a “major step in the Commission’s efforts to provide greater clarity regarding the treatment of crypto assets,” it stated. The guidance also “complements Congressional endeavors to codify a comprehensive market structure framework […]
For years now, the entire cryptocurrency industry has operated under a fog of regulatory uncertainty. Investors and developers alike were wondering which crypto asset the U.S. government might suddenly decide to classify as an unregistered security. Take Ripple’s XRP, for instance – one of the most obvious examples. The company was tangled in a prolonged […]
The U.S. Commodity Futures Trading Commission (CFTC) has selected several cryptocurrency executives to serve on its newly created Innovation Advisory Committee (IAC). This development comes as the agency, led by Chair Michael S. Selig, continues to indicate that his administration plans to adopt a more permissive approach to regulating the digital asset industry. IAC Appointee […]
“This is a big week for crypto – Congress is on the cusp of upgrading our financial markets for the 21st century,” said Atkins on Fox Business on Monday. The market structure bill “fits in with the President’s focus on making America the crypto capital of the world, so if you have clear legislation and […]
The Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) held their first joint roundtable in nearly 14 years. The discussion highlighted that the two agencies intend to cooperate on crypto regulation, despite having little history of collaboration. Alignment on Crypto Rules Acting CFTC Chair Caroline Pham acknowledged at Monday’s roundtable that […]
The CFTC’s Division of Market Oversight issued an advisory on Thursday stating that U.S.-based users can now trade on non-U.S. crypto exchanges such as Binance. The advisory clarifies the Foreign Board of Trade (FBOT) registration framework, which allows non-US exchanges to provide direct market access to US customers. “Today’s FBOT advisory provides the regulatory clarity […]
A Massachusetts federal court has ordered My Big Coin Pay, Inc. and My Big Coin, Inc., along with individuals Mark Gillespie of Michigan and John Roche of California, to collectively pay nearly $25.8 million in penalties and restitution to the Commodity Futures Trading Commission (CFTC). The ruling was issued on Wednesday by the US District […]
In a leadership shakeup at the Commodity Futures Trading Commission (CFTC), Acting Chair Caroline Pham appointed Harry Jung as Acting Chief of Staff on Wednesday. Jung, who previously served as Pham’s Counselor and Senior Policy Advisor, will lead the agency’s crypto and digital assets engagement and will build on his experience at Citigroup and prior […]
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