The U.S. Securities and Exchange Commission (SEC) has willingly withdrawn its appeal of a ruling that blocked its attempt to expand securities laws to cover decentralized finance (DeFi). This development means the DeFi space might no longer be subjected to securities laws. A Complete Victory for DeFi In a February 19 motion filed with the […]
The Financial Services Agency (FSA) of Japan is planning to recognize crypto assets as financial products equivalent to securities. As such, the agency has reportedly initiated discussions within a closed study group comprising experts to assess the current regulatory framework governing crypto assets. FSA’s Crypto Reform According to a report by ‘The Nikkei’ on February […]
The SEC is scaling back its special unit of more than 50 lawyers and staff members that were responsible for bringing crypto enforcement actions, according to a Feb. 4 New York Times report citing people with knowledge of the matter. Some of the lawyers in the crypto enforcement unit are being assigned to other departments […]
“I do think it would be helpful if there were a greater regulatory apparatus around crypto,” the US central bank chair said at the Federal Open Market Committee press conference on Jan. 29. He added that it is something Congress and the Fed have been “working on quite a lot.” “We’ve actually spent a lot of […]
After four years of steering crypto regulations and financial market oversight, former U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler is returning to the Massachusetts Institute of Technology (MIT). According to a January 27 statement from the research university, his focus will now shift to artificial intelligence (AI), fintech, finance, and public policy. Gensler’s […]
David Sacks has introduced a new perspective on non-fungible tokens (NFTs) and meme coins, describing them as a distinct class of digital assets. In an interview with Fox Business, the AI and crypto czar spoke on the growing complexity of classifying digital assets, categorizing the two as collectibles. Digital Asset Classification “When you talk about […]
Bank of America CEO Brian Moynihan has shared his thoughts on the future of crypto in the banking sector. Speaking in an interview with CNBC at the World Economic Forum in Davos, Switzerland, on Tuesday, Moynihan stressed that the industry is ready to embrace crypto for transactions, but only if the regulatory landscape is well-defined. […]
Donald Trump is planning to release an executive order elevating crypto as a “national imperative or priority,” reported Bloomberg, citing people familiar with the plans on Jan. 17. The order, which may come shortly after his Jan. 20 inauguration or even on day one, is intended to guide government agencies to work with the crypto […]
Congressman Tom Emmer, a well-known advocate for the cryptocurrency industry, has been named Vice Chair of the House Subcommittee on Digital Assets, Financial Technology, and Artificial Intelligence. Committee Chairman French Hill made the announcement on January 14 as part of the House Financial Services Committee’s subcommittee assignments for the 119th Congress. Appointment Details Emmer expressed […]
The U.S. Senate Banking Committee, led by Chairman Tim Scott, is reportedly planning to establish its first subcommittee dedicated to cryptocurrency. This initiative marks an important milestone in the Senate’s approach to regulating the digital assets industry. Cynthia Lummis Selected as Chair Fox Business reporter Eleanor Terret shared the development in a January 10 post […]